IEUR vs. CSPX.AS
IEUR (iShares Core MSCI Europe ETF) and CSPX.AS (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index, while CSPX.AS is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IEUR returned 10.11%/yr vs 15.23%/yr for CSPX.AS. A 0.55 correlation means they provide meaningful diversification when combined. IEUR charges 0.09%/yr vs 0.07%/yr for CSPX.AS.
Performance
IEUR vs. CSPX.AS - Performance Comparison
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Different Trading Currencies
IEUR is traded in USD, while CSPX.AS is traded in EUR. To make them comparable, the CSPX.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEUR achieves a 7.65% return, which is significantly lower than CSPX.AS's 8.32% return. Over the past 10 years, IEUR has underperformed CSPX.AS with an annualized return of 10.11%, while CSPX.AS has yielded a comparatively higher 15.23% annualized return.
IEUR
- 1D
- 0.14%
- 1M
- 2.40%
- YTD
- 7.65%
- 6M
- 9.78%
- 1Y
- 19.09%
- 3Y*
- 16.42%
- 5Y*
- 8.26%
- 10Y*
- 10.11%
CSPX.AS
- 1D
- 1.44%
- 1M
- -0.86%
- YTD
- 8.32%
- 6M
- 9.47%
- 1Y
- 24.93%
- 3Y*
- 20.69%
- 5Y*
- 13.19%
- 10Y*
- 15.23%
IEUR vs. CSPX.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEUR iShares Core MSCI Europe ETF | 7.65% | 35.67% | 1.40% | 19.71% | -15.90% | 16.71% | 5.31% | 24.95% | -14.86% | 26.70% |
CSPX.AS iShares Core S&P 500 UCITS ETF | 8.32% | 17.97% | 25.59% | 26.14% | -19.39% | 30.70% | 17.25% | 30.40% | -5.01% | 22.28% |
Correlation
The correlation between IEUR and CSPX.AS is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014 | 0.55 |
The correlation between IEUR and CSPX.AS has been stable across timeframes, ranging from 0.48 to 0.56 - a consistent structural relationship.
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Return for Risk
IEUR vs. CSPX.AS — Risk / Return Rank
IEUR
CSPX.AS
IEUR vs. CSPX.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe ETF (IEUR) and iShares Core S&P 500 UCITS ETF (CSPX.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IEUR | CSPX.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.36 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 2.80 | -1.36 |
| Martin ratioReturn relative to average drawdown | 5.40 | 11.63 | -6.23 |
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Drawdowns
IEUR vs. CSPX.AS - Drawdown Comparison
The maximum IEUR drawdown since its inception was -36.96%, which is greater than CSPX.AS's maximum drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for IEUR and CSPX.AS.
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Drawdown Indicators
| IEUR | CSPX.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.96% | -34.12% | -2.84% |
Max Drawdown (1Y)Largest decline over 1 year | -12.04% | -8.56% | -3.48% |
Max Drawdown (3Y)Largest decline over 3 years | -14.25% | -19.52% | +5.27% |
Max Drawdown (5Y)Largest decline over 5 years | -32.75% | -24.42% | -8.33% |
Max Drawdown (10Y)Largest decline over 10 years | -36.96% | -34.12% | -2.84% |
Current DrawdownCurrent decline from peak | -0.44% | -2.30% | +1.86% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -3.71% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 2.07% | +1.15% |
Volatility
IEUR vs. CSPX.AS - Volatility Comparison
iShares Core MSCI Europe ETF (IEUR) has a higher volatility of 5.70% compared to iShares Core S&P 500 UCITS ETF (CSPX.AS) at 3.33%. This indicates that IEUR's price experiences larger fluctuations and is considered to be riskier than CSPX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEUR | CSPX.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 3.33% | +2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 8.33% | +4.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.83% | 11.57% | +4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 15.88% | +1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 16.31% | +2.37% |
IEUR vs. CSPX.AS - Expense Ratio Comparison
IEUR has a 0.09% expense ratio, which is higher than CSPX.AS's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEUR vs. CSPX.AS - Dividend Comparison
IEUR's dividend yield for the trailing twelve months is around 2.76%, while CSPX.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSPX.AS iShares Core S&P 500 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEUR iShares Core MSCI Europe ETF | 2.76% | 2.97% | 3.54% | 3.17% | 3.05% | 2.88% | 2.13% | 3.26% | 3.76% | 2.64% | 3.19% | 2.79% |
Frequently Asked Questions
IEUR and CSPX.AS have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSPX.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSPX.AS is cheaper with a 0.07% expense ratio, compared with 0.09% for IEUR.
IEUR is categorized as Europe Equities, while CSPX.AS is S&P 500. IEUR tracks MSCI Europe Investable Market Index, while CSPX.AS tracks S&P 500 Index. Their fees differ too: 0.09% for IEUR and 0.07% for CSPX.AS.
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