IEVL.L vs. CSH2.L
IEVL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating) and CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) are both exchange-traded funds - IEVL.L is a Europe Equities fund tracking the MSCI Europe Enhanced Value Index, while CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged). Both are passively managed. Over the past 10 years, IEVL.L returned 10.93%/yr vs 1.97%/yr for CSH2.L. At a 0.22 correlation, their price movements are largely independent. IEVL.L charges 0.25%/yr vs 0.10%/yr for CSH2.L.
Performance
IEVL.L vs. CSH2.L - Performance Comparison
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Different Trading Currencies
IEVL.L is traded in EUR, while CSH2.L is traded in GBp. To make them comparable, the CSH2.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEVL.L achieves a 15.33% return, which is significantly higher than CSH2.L's 5.02% return. Over the past 10 years, IEVL.L has outperformed CSH2.L with an annualized return of 10.93%, while CSH2.L has yielded a comparatively lower 1.97% annualized return.
IEVL.L
- 1D
- -0.36%
- 1M
- 0.96%
- 6M
- 12.86%
- YTD
- 15.33%
- 1Y
- 32.91%
- 3Y*
- 20.62%
- 5Y*
- 15.46%
- 10Y*
- 10.93%
- ALL TIME*
- 8.97%
CSH2.L
- 1D
- 0.09%
- 1M
- 2.33%
- 6M
- 4.19%
- YTD
- 5.02%
- 1Y
- 6.40%
- 3Y*
- 5.60%
- 5Y*
- 4.02%
- 10Y*
- 1.97%
- ALL TIME*
- 0.46%
IEVL.L vs. CSH2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEVL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating | 15.33% | 35.04% | 10.57% | 13.52% | -3.79% | 26.68% | -8.75% | 21.79% | -13.55% | 10.54% |
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 5.02% | -0.79% | 10.71% | 6.94% | -3.70% | 6.64% | -5.15% | 7.23% | -0.54% | -3.53% |
Correlation
The correlation between IEVL.L and CSH2.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | 0.22 |
The correlation between IEVL.L and CSH2.L shifts across timeframes, from 0.12 (3 years) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEVL.L vs. CSH2.L — Risk / Return Rank
IEVL.L
CSH2.L
IEVL.L vs. CSH2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) and Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L). 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.
| IEVL.L | CSH2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.31 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 4.42 | -1.07 |
| Martin ratioReturn relative to average drawdown | 12.57 | 11.29 | +1.28 |
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Drawdowns
IEVL.L vs. CSH2.L - Drawdown Comparison
The maximum IEVL.L drawdown since its inception was -40.09%, which is greater than CSH2.L's maximum drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for IEVL.L and CSH2.L.
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Drawdown Indicators
| IEVL.L | CSH2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.09% | -24.26% | -15.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.79% | -1.44% | -8.35% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -4.44% | -12.99% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -7.40% | -12.15% |
Max Drawdown (10Y)Largest decline over 10 years | -40.09% | -11.59% | -28.50% |
Current DrawdownCurrent decline from peak | -1.93% | -0.34% | -1.59% |
Average DrawdownAverage peak-to-trough decline | -7.43% | -13.70% | +6.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 0.57% | +2.04% |
Volatility
IEVL.L vs. CSH2.L - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) has a higher volatility of 4.20% compared to Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) at 1.11%. This indicates that IEVL.L's price experiences larger fluctuations and is considered to be riskier than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEVL.L | CSH2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 1.11% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.81% | 2.61% | +9.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.12% | 3.89% | +10.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.31% | 5.42% | +9.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.28% | 6.69% | +10.59% |
IEVL.L vs. CSH2.L - Expense Ratio Comparison
IEVL.L has a 0.25% expense ratio, which is higher than CSH2.L's 0.10% 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
IEVL.L vs. CSH2.L - Dividend Comparison
Neither IEVL.L nor CSH2.L has paid dividends to shareholders.
Frequently Asked Questions
IEVL.L and CSH2.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH2.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH2.L is cheaper with a 0.10% expense ratio, compared with 0.25% for IEVL.L.
IEVL.L is categorized as Europe Equities, while CSH2.L is Money Market. IEVL.L tracks MSCI Europe Enhanced Value Index, while CSH2.L tracks SONIA Compounded (GBP Hedged). They also come from different issuers: iShares and Amundi. Their fees differ too: 0.25% for IEVL.L and 0.10% for CSH2.L.
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