IMD.AX vs. CSPX.L

Last updated Jun 5, 2026

IMD.AX (Imdex Limited) is a stock, while CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, IMD.AX returned 35.31%/yr vs 15.59%/yr for CSPX.L. At a 0.08 correlation, their price movements are largely independent.

Performance

IMD.AX vs. CSPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Imdex Limited (IMD.AX) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IMD.AX is traded in AUD, while CSPX.L is traded in USD. To make them comparable, the CSPX.L values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IMD.AX achieves a 18.21% return, which is significantly higher than CSPX.L's 3.20% return. Over the past 10 years, IMD.AX has outperformed CSPX.L with an annualized return of 35.31%, while CSPX.L has yielded a comparatively lower 15.59% annualized return.

IMD.AX

• 1D: -1.22%
• 1M: -8.58%
• YTD: 18.21%
• 6M: 23.60%
• 1Y: 42.62%
• 3Y*: 30.26%
• 5Y*: 16.43%
• 10Y*: 35.31%

CSPX.L

• 1D: -0.05%
• 1M: 4.76%
• YTD: 3.20%
• 6M: 3.14%
• 1Y: 16.29%
• 3Y*: 19.15%
• 5Y*: 15.60%
• 10Y*: 15.59%

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

IMD.AX vs. CSPX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMD.AX Imdex Limited	18.21%	49.49%	24.68%	-11.54%	-23.92%	73.38%	18.38%	42.19%	1.91%	82.61%
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc)	3.20%	8.93%	37.86%	26.83%	-13.35%	36.93%	7.30%	31.16%	4.68%	12.34%

Correlation

The correlation between IMD.AX and CSPX.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010	0.08

The correlation between IMD.AX and CSPX.L shifts across timeframes, from 0.05 (3 years) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IMD.AX vs. CSPX.L — Risk / Return Rank

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

IMD.AX

IMD.AX Risk / Return Rank: 71
IMD.AX Sharpe Ratio Rank: 72
IMD.AX Sortino Ratio Rank: 66
IMD.AX Omega Ratio Rank: 68
IMD.AX Calmar Ratio Rank: 73
IMD.AX Martin Ratio Rank: 77

CSPX.L

CSPX.L Risk / Return Rank: 73
CSPX.L Sharpe Ratio Rank: 72
CSPX.L Sortino Ratio Rank: 77
CSPX.L Omega Ratio Rank: 72
CSPX.L Calmar Ratio Rank: 68
CSPX.L Martin Ratio Rank: 77

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.

IMD.AX vs. CSPX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Imdex Limited (IMD.AX) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.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.

	IMD.AX	CSPX.L	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.38	-0.35
Sortino ratio: Return per unit of downside risk	1.51	1.99	-0.47
Omega ratio: Gain probability vs. loss probability	1.21	1.26	-0.05
Calmar ratio: Return relative to maximum drawdown	1.87	1.43	+0.44
Martin ratio: Return relative to average drawdown	5.63	3.94	+1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMD.AX vs. CSPX.L - Sharpe Ratio Comparison

The current IMD.AX Sharpe Ratio is 1.03, which is comparable to the CSPX.L Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of IMD.AX and CSPX.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

	IMD.AX	CSPX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.38	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	1.01	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	1.00	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	1.06	-0.87

Drawdowns

IMD.AX vs. CSPX.L - Drawdown Comparison

The maximum IMD.AX drawdown since its inception was -94.48%, which is greater than CSPX.L's maximum drawdown of -24.24%. Use the drawdown chart below to compare losses from any high point for IMD.AX and CSPX.L.

Drawdown Indicators

	IMD.AX	CSPX.L	Difference
Max Drawdown Largest peak-to-trough decline	-94.48%	-24.24%	-70.24%
Max Drawdown (1Y) Largest decline over 1 year	-23.08%	-11.20%	-11.88%
Max Drawdown (3Y) Largest decline over 3 years	-29.63%	-17.32%	-12.31%
Max Drawdown (5Y) Largest decline over 5 years	-53.50%	-20.93%	-32.57%
Max Drawdown (10Y) Largest decline over 10 years	-53.50%	-24.24%	-29.26%
Current Drawdown Current decline from peak	-8.58%	-0.05%	-8.53%
Average Drawdown Average peak-to-trough decline	-41.86%	-3.77%	-38.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.70%	4.10%	+3.60%

Volatility

IMD.AX vs. CSPX.L - Volatility Comparison

Imdex Limited (IMD.AX) has a higher volatility of 16.25% compared to iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) at 2.98%. This indicates that IMD.AX's price experiences larger fluctuations and is considered to be riskier than CSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMD.AX	CSPX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.25%	2.98%	+13.27%
Volatility (6M) Calculated over the trailing 6-month period	31.79%	8.43%	+23.36%
Volatility (1Y) Calculated over the trailing 1-year period	41.97%	11.57%	+30.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.44%	15.43%	+26.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.26%	15.57%	+30.69%

Dividends

IMD.AX vs. CSPX.L - Dividend Comparison

IMD.AX's dividend yield for the trailing twelve months is around 0.67%, while CSPX.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMD.AX Imdex Limited	0.67%	0.74%	1.21%	1.91%	1.54%	0.95%	0.99%	2.85%

Frequently Asked Questions

Can I hold both IMD.AX and CSPX.L in my portfolio?

IMD.AX and CSPX.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.