IGF vs. CSH2.L

Last updated Jun 9, 2026

IGF (iShares Global Infrastructure ETF) and CSH2.L (Lyxor Smart Overnight Return UCITS ETF C-GBP) are both exchange-traded funds - IGF is a Industrials Equities fund tracking the S&P Global Infrastructure Index, while CSH2.L is a Money Market fund actively managed by Amundi. IGF is passively managed, while CSH2.L is actively managed. Over the past 10 years, IGF returned 8.26%/yr vs 1.40%/yr for CSH2.L. At a 0.36 correlation, their price movements are largely independent. IGF charges 0.39%/yr vs 0.07%/yr for CSH2.L.

Performance

IGF vs. CSH2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Infrastructure ETF (IGF) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IGF is traded in USD, while CSH2.L is traded in GBp. To make them comparable, the CSH2.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IGF achieves a 7.07% return, which is significantly higher than CSH2.L's 0.87% return. Over the past 10 years, IGF has outperformed CSH2.L with an annualized return of 8.26%, while CSH2.L has yielded a comparatively lower 1.40% annualized return.

IGF

• 1D: -0.73%
• 1M: -1.91%
• YTD: 7.07%
• 6M: 8.23%
• 1Y: 13.89%
• 3Y*: 15.43%
• 5Y*: 9.75%
• 10Y*: 8.26%

CSH2.L

• 1D: 0.07%
• 1M: -1.82%
• YTD: 0.87%
• 6M: 2.24%
• 1Y: 2.87%
• 3Y*: 7.06%
• 5Y*: 2.50%
• 10Y*: 1.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IGF vs. CSH2.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGF iShares Global Infrastructure ETF	7.07%	21.31%	14.81%	6.14%	-1.26%	11.57%	-6.50%	25.82%	-9.95%	19.31%
CSH2.L Lyxor Smart Overnight Return UCITS ETF C-GBP	0.87%	12.57%	3.85%	10.24%	-9.32%	-0.78%	3.37%	4.86%	-5.00%	9.98%

Correlation

The correlation between IGF and CSH2.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since May 29, 2015	0.36

IGF vs. CSH2.L - Sectors Allocation Comparison

Sectors	IGF	CSH2.L
Utilities	41.1%	1.1%
Industrials	38.8%	6.3%
Energy	20.1%	1.4%
Real Estate	0.1%	0.0%
Basic Materials	-	1.0%
Communication Services	-	13.9%
Consumer Cyclical	-	13.9%
Consumer Defensive	-	4.9%
Financial Services	-	10.4%
Healthcare	-	11.3%
Technology	-	35.9%

Return for Risk

IGF vs. CSH2.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGF

IGF Risk / Return Rank: 45
IGF Sharpe Ratio Rank: 42
IGF Sortino Ratio Rank: 41
IGF Omega Ratio Rank: 40
IGF Calmar Ratio Rank: 53
IGF Martin Ratio Rank: 47

CSH2.L

CSH2.L Risk / Return Rank: 99
CSH2.L Sharpe Ratio Rank: 99
CSH2.L Sortino Ratio Rank: 99
CSH2.L Omega Ratio Rank: 99
CSH2.L Calmar Ratio Rank: 99
CSH2.L Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGF vs. CSH2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure ETF (IGF) and Lyxor Smart Overnight Return UCITS ETF C-GBP (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.

	IGF	CSH2.L	Difference
Sharpe ratio: Return per unit of total volatility	1.32	0.43	+0.89
Sortino ratio: Return per unit of downside risk	1.91	0.67	+1.24
Omega ratio: Gain probability vs. loss probability	1.23	1.08	+0.16
Calmar ratio: Return relative to maximum drawdown	2.38	0.70	+1.68
Martin ratio: Return relative to average drawdown	7.08	1.51	+5.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGF vs. CSH2.L - Sharpe Ratio Comparison

The current IGF Sharpe Ratio is 1.32, which is higher than the CSH2.L Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of IGF and CSH2.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IGF	CSH2.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	0.43	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.29	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.15	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.08	+0.16

Drawdowns

IGF vs. CSH2.L - Drawdown Comparison

The maximum IGF drawdown since its inception was -58.33%, which is greater than CSH2.L's maximum drawdown of -29.83%. Use the drawdown chart below to compare losses from any high point for IGF and CSH2.L.

Drawdown Indicators

	IGF	CSH2.L	Difference
Max Drawdown Largest peak-to-trough decline	-58.33%	-29.83%	-28.50%
Max Drawdown (1Y) Largest decline over 1 year	-5.87%	-4.11%	-1.76%
Max Drawdown (3Y) Largest decline over 3 years	-14.28%	-7.81%	-6.47%
Max Drawdown (5Y) Largest decline over 5 years	-20.83%	-23.98%	+3.15%
Max Drawdown (10Y) Largest decline over 10 years	-42.11%	-25.51%	-16.60%
Current Drawdown Current decline from peak	-5.29%	-2.23%	-3.06%
Average Drawdown Average peak-to-trough decline	-11.87%	-12.70%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.89%	+0.08%

Volatility

IGF vs. CSH2.L - Volatility Comparison

iShares Global Infrastructure ETF (IGF) has a higher volatility of 3.61% compared to Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L) at 1.86%. This indicates that IGF'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.

Volatility by Period

	IGF	CSH2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	1.86%	+1.75%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	4.87%	+3.81%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	6.66%	+3.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	8.56%	+5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	9.35%	+7.49%

IGF vs. CSH2.L - Expense Ratio Comparison

IGF has a 0.39% expense ratio, which is higher than CSH2.L's 0.07% expense ratio.

Dividends

IGF vs. CSH2.L - Dividend Comparison

IGF's dividend yield for the trailing twelve months is around 3.01%, while CSH2.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSH2.L Lyxor Smart Overnight Return UCITS ETF C-GBP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IGF iShares Global Infrastructure ETF	3.01%	3.23%	3.21%	3.36%	2.67%	2.42%	2.33%	3.27%	3.52%	2.95%	2.98%	3.25%

Frequently Asked Questions

Can I hold both IGF and CSH2.L in my portfolio?

IGF and CSH2.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IGF or CSH2.L?

On fees, CSH2.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IGF or CSH2.L?

CSH2.L is cheaper with a 0.07% expense ratio, compared with 0.39% for IGF.

What is the main difference between IGF and CSH2.L?

IGF is categorized as Industrials Equities, while CSH2.L is Money Market. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.39% for IGF and 0.07% for CSH2.L.