ISF.L vs. GSPX.L

Last updated Jun 13, 2026

ISF.L (iShares Core FTSE 100 UCITS ETF (Dist)) and GSPX.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - ISF.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while GSPX.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, ISF.L returned 11.88%/yr vs 12.13%/yr for GSPX.L. A 0.60 correlation means they provide meaningful diversification when combined. ISF.L charges 0.07%/yr vs 0.10%/yr for GSPX.L.

Performance

ISF.L vs. GSPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) and iShares Core S&P 500 UCITS ETF (GSPX.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ISF.L is traded in GBp, while GSPX.L is traded in GBP. To make them comparable, the GSPX.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ISF.L achieves a 7.07% return, which is significantly lower than GSPX.L's 8.24% return.

ISF.L

• 1D: 1.50%
• 1M: 1.56%
• YTD: 7.07%
• 6M: 10.11%
• 1Y: 21.22%
• 3Y*: 15.23%
• 5Y*: 11.88%
• 10Y*: 9.81%

GSPX.L

• 1D: 2.38%
• 1M: 0.64%
• YTD: 8.24%
• 6M: 9.38%
• 1Y: 24.05%
• 3Y*: 20.06%
• 5Y*: 12.13%
• 10Y*: —

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

ISF.L vs. GSPX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ISF.L iShares Core FTSE 100 UCITS ETF (Dist)	7.07%	25.97%	9.28%	7.81%	4.83%	17.68%	-11.67%	17.11%	-9.98%
GSPX.L iShares Core S&P 500 UCITS ETF	8.24%	17.16%	24.72%	24.87%	-20.64%	28.96%	15.11%	27.76%	-7.71%

Correlation

The correlation between ISF.L and GSPX.L is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018	0.60

The correlation between ISF.L and GSPX.L shifts across timeframes, from 0.48 (3 years) to 0.60 (all time), reflecting how their relationship changes across market environments.

ISF.L vs. GSPX.L - Sectors Allocation Comparison

Sectors	ISF.L	GSPX.L
Financial Services	24.8%	11.1%
Industrials	13.8%	7.5%
Healthcare	13.8%	8.3%
Consumer Defensive	12.8%	4.5%
Energy	11.9%	3.2%
Basic Materials	8.6%	1.7%
Utilities	5.3%	2.5%
Consumer Cyclical	4.7%	9.8%
Communication Services	2.6%	10.4%
Real Estate	0.9%	1.8%
Technology	0.8%	39.0%

Return for Risk

ISF.L vs. GSPX.L — Risk / Return Rank

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

ISF.L

ISF.L Risk / Return Rank: 63
ISF.L Sharpe Ratio Rank: 69
ISF.L Sortino Ratio Rank: 69
ISF.L Omega Ratio Rank: 71
ISF.L Calmar Ratio Rank: 55
ISF.L Martin Ratio Rank: 52

GSPX.L

GSPX.L Risk / Return Rank: 71
GSPX.L Sharpe Ratio Rank: 71
GSPX.L Sortino Ratio Rank: 76
GSPX.L Omega Ratio Rank: 71
GSPX.L Calmar Ratio Rank: 65
GSPX.L Martin Ratio Rank: 74

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.

ISF.L vs. GSPX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) and iShares Core S&P 500 UCITS ETF (GSPX.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.

	ISF.L	GSPX.L	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.00	-0.07
Sortino ratio: Return per unit of downside risk	2.72	2.93	-0.21
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	2.40	2.86	-0.47
Martin ratio: Return relative to average drawdown	7.89	12.14	-4.25

ISF.L vs. GSPX.L - Sharpe Ratio Comparison

The current ISF.L Sharpe Ratio is 1.93, which is comparable to the GSPX.L Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of ISF.L and GSPX.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.

Drawdowns

ISF.L vs. GSPX.L - Drawdown Comparison

The maximum ISF.L drawdown since its inception was -45.00%, which is greater than GSPX.L's maximum drawdown of -34.98%. Use the drawdown chart below to compare losses from any high point for ISF.L and GSPX.L.

Drawdown Indicators

	ISF.L	GSPX.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.00%	-34.98%	-10.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-8.37%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-18.97%	+6.28%
Max Drawdown (5Y) Largest decline over 5 years	-12.69%	-25.80%	+13.11%
Max Drawdown (10Y) Largest decline over 10 years	-34.13%	—	—
Current Drawdown Current decline from peak	-3.05%	-2.12%	-0.93%
Average Drawdown Average peak-to-trough decline	-6.45%	-5.61%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	1.98%	+0.70%

Volatility

ISF.L vs. GSPX.L - Volatility Comparison

The current volatility for iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) is 3.51%, while iShares Core S&P 500 UCITS ETF (GSPX.L) has a volatility of 4.22%. This indicates that ISF.L experiences smaller price fluctuations and is considered to be less risky than GSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISF.L	GSPX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	4.22%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	9.53%	9.03%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	10.94%	11.98%	-1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.59%	16.12%	-3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	17.69%	-2.85%

ISF.L vs. GSPX.L - Expense Ratio Comparison

ISF.L has a 0.07% expense ratio, which is lower than GSPX.L's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ISF.L vs. GSPX.L - Dividend Comparison

ISF.L's dividend yield for the trailing twelve months is around 1.71%, more than GSPX.L's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSPX.L iShares Core S&P 500 UCITS ETF	0.82%	0.89%	0.99%	1.15%	1.40%	0.96%	1.31%	1.50%	0.11%	0.00%	0.00%	0.00%
ISF.L iShares Core FTSE 100 UCITS ETF (Dist)	1.71%	3.01%	3.71%	3.86%	3.75%	3.76%	3.11%	4.47%	4.44%	3.96%	3.79%	4.12%

Frequently Asked Questions

Can I hold both ISF.L and GSPX.L in my portfolio?

ISF.L and GSPX.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISF.L or GSPX.L?

On fees, ISF.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, ISF.L or GSPX.L?

ISF.L is cheaper with a 0.07% expense ratio, compared with 0.10% for GSPX.L.

What is the main difference between ISF.L and GSPX.L?

ISF.L is categorized as Europe Equities, while GSPX.L is S&P 500. ISF.L tracks FTSE AllSh TR GBP, while GSPX.L tracks S&P 500 Index. Their fees differ too: 0.07% for ISF.L and 0.10% for GSPX.L.