IMSU.L vs. SPAG.L
IMSU.L (iShares S&P 500 Materials Sector UCITS ETF USD (Acc)) and SPAG.L (iShares Agribusiness UCITS ETF USD (Acc)) are both Materials funds from iShares - IMSU.L tracks the MSCI World/Materials NR USD while SPAG.L tracks the S&P Commodity Producers Agribusiness Index NTR. Both are passively managed. Over the past 5 years, IMSU.L returned 6.56%/yr vs 5.31%/yr for SPAG.L. A 0.72 correlation means they provide meaningful diversification when combined. IMSU.L charges 0.15%/yr vs 0.55%/yr for SPAG.L.
Performance
IMSU.L vs. SPAG.L - Performance Comparison
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Returns By Period
In the year-to-date period, IMSU.L achieves a 10.77% return, which is significantly lower than SPAG.L's 13.12% return.
IMSU.L
- 1D
- 0.24%
- 1M
- -4.73%
- 6M
- 3.70%
- YTD
- 10.77%
- 1Y
- 14.35%
- 3Y*
- 6.84%
- 5Y*
- 6.56%
- 10Y*
- —
SPAG.L
- 1D
- 0.79%
- 1M
- 2.73%
- 6M
- 6.06%
- YTD
- 13.12%
- 1Y
- 16.53%
- 3Y*
- 4.27%
- 5Y*
- 5.31%
- 10Y*
- 7.13%
IMSU.L vs. SPAG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMSU.L iShares S&P 500 Materials Sector UCITS ETF USD (Acc) | 10.77% | 3.37% | 0.69% | 6.26% | -1.35% | 28.63% | 16.34% | 19.09% | -9.88% | -12.89% |
SPAG.L iShares Agribusiness UCITS ETF USD (Acc) | 13.12% | 8.75% | -4.21% | -13.78% | 15.09% | 24.65% | 6.64% | 13.92% | -7.95% | 7.67% |
Correlation
The correlation between IMSU.L and SPAG.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2017 | 0.72 |
Over the past year, the correlation between IMSU.L and SPAG.L has dropped to 0.49 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
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Return for Risk
IMSU.L vs. SPAG.L — Risk / Return Rank
IMSU.L
SPAG.L
IMSU.L vs. SPAG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Materials Sector UCITS ETF USD (Acc) (IMSU.L) and iShares Agribusiness UCITS ETF USD (Acc) (SPAG.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.
| IMSU.L | SPAG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.72 | -0.39 |
| Martin ratioReturn relative to average drawdown | 4.15 | 4.42 | -0.27 |
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Drawdowns
IMSU.L vs. SPAG.L - Drawdown Comparison
The maximum IMSU.L drawdown since its inception was -33.22%, smaller than the maximum SPAG.L drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for IMSU.L and SPAG.L.
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Drawdown Indicators
| IMSU.L | SPAG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.22% | -43.95% | +10.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.76% | -9.56% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -25.16% | -27.60% | +2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -25.16% | -31.95% | +6.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.95% | — |
Current DrawdownCurrent decline from peak | -4.97% | -9.23% | +4.26% |
Average DrawdownAverage peak-to-trough decline | -11.10% | -17.43% | +6.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 3.73% | -0.28% |
Volatility
IMSU.L vs. SPAG.L - Volatility Comparison
iShares S&P 500 Materials Sector UCITS ETF USD (Acc) (IMSU.L) has a higher volatility of 5.32% compared to iShares Agribusiness UCITS ETF USD (Acc) (SPAG.L) at 3.41%. This indicates that IMSU.L's price experiences larger fluctuations and is considered to be riskier than SPAG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMSU.L | SPAG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 3.41% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 12.58% | 10.09% | +2.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.50% | 12.80% | +2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 20.67% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.92% | 18.97% | +5.95% |
IMSU.L vs. SPAG.L - Expense Ratio Comparison
IMSU.L has a 0.15% expense ratio, which is lower than SPAG.L's 0.55% expense ratio.
Dividends
IMSU.L vs. SPAG.L - Dividend Comparison
Neither IMSU.L nor SPAG.L has paid dividends to shareholders.
Frequently Asked Questions
IMSU.L and SPAG.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IMSU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IMSU.L is cheaper with a 0.15% expense ratio, compared with 0.55% for SPAG.L.
IMSU.L tracks MSCI World/Materials NR USD, while SPAG.L tracks S&P Commodity Producers Agribusiness Index NTR. Their fees differ too: 0.15% for IMSU.L and 0.55% for SPAG.L.
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