ISPY.L vs. CSH2.L
ISPY.L (L&G Cyber Security UCITS ETF) and CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) are both exchange-traded funds - ISPY.L is a Cybersecurity fund tracking the ISE Cyber Security UCITS Index, while CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged). Both are passively managed. Over the past 10 years, ISPY.L returned 16.69%/yr vs 2.12%/yr for CSH2.L. At a 0.01 correlation, their price movements are largely independent. ISPY.L charges 0.69%/yr vs 0.10%/yr for CSH2.L.
Performance
ISPY.L vs. CSH2.L - Performance Comparison
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Returns By Period
In the year-to-date period, ISPY.L achieves a 44.89% return, which is significantly higher than CSH2.L's 2.24% return. Over the past 10 years, ISPY.L has outperformed CSH2.L with an annualized return of 16.69%, while CSH2.L has yielded a comparatively lower 2.12% annualized return.
ISPY.L
- 1D
- 0.85%
- 1M
- 11.78%
- 6M
- 50.01%
- YTD
- 44.89%
- 1Y
- 41.53%
- 3Y*
- 26.97%
- 5Y*
- 12.45%
- 10Y*
- 16.69%
- ALL TIME*
- 11.95%
CSH2.L
- 1D
- 0.01%
- 1M
- 0.32%
- 6M
- 2.07%
- YTD
- 2.24%
- 1Y
- 4.32%
- 3Y*
- 4.95%
- 5Y*
- 3.76%
- 10Y*
- 2.12%
- ALL TIME*
- 1.98%
ISPY.L vs. CSH2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISPY.L L&G Cyber Security UCITS ETF | 44.89% | 0.28% | 19.68% | 34.35% | -24.57% | 9.18% | 37.24% | 25.65% | 14.46% | 13.11% |
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 2.24% | 4.67% | 5.61% | 4.72% | 1.54% | 0.13% | 0.30% | 0.82% | 0.70% | 0.42% |
Correlation
The correlation between ISPY.L and CSH2.L is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2015 | 0.01 |
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Return for Risk
ISPY.L vs. CSH2.L — Risk / Return Rank
ISPY.L
CSH2.L
ISPY.L vs. CSH2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Cyber Security UCITS ETF (ISPY.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.
| ISPY.L | CSH2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.36 | ||
| Sortino ratioReturn per unit of downside risk | -14.60 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 5.37 | -4.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 27.30 | -25.26 |
| Martin ratioReturn relative to average drawdown | 5.05 | 174.87 | -169.82 |
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Drawdowns
ISPY.L vs. CSH2.L - Drawdown Comparison
The maximum ISPY.L drawdown since its inception was -50.17%, which is greater than CSH2.L's maximum drawdown of -0.37%. Use the drawdown chart below to compare losses from any high point for ISPY.L and CSH2.L.
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Drawdown Indicators
| ISPY.L | CSH2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.17% | -0.37% | -49.80% |
Max Drawdown (1Y)Largest decline over 1 year | -20.33% | -0.16% | -20.17% |
Max Drawdown (3Y)Largest decline over 3 years | -28.19% | -0.29% | -27.90% |
Max Drawdown (5Y)Largest decline over 5 years | -31.77% | -0.29% | -31.48% |
Max Drawdown (10Y)Largest decline over 10 years | -31.77% | -0.37% | -31.40% |
Current DrawdownCurrent decline from peak | -4.42% | 0.00% | -4.42% |
Average DrawdownAverage peak-to-trough decline | -12.85% | -0.00% | -12.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.20% | 0.02% | +8.18% |
Volatility
ISPY.L vs. CSH2.L - Volatility Comparison
L&G Cyber Security UCITS ETF (ISPY.L) has a higher volatility of 10.69% compared to Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) at 0.05%. This indicates that ISPY.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
| ISPY.L | CSH2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 0.05% | +10.64% |
Volatility (6M)Calculated over the trailing 6-month period | 24.88% | 0.19% | +24.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.85% | 0.49% | +27.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.58% | 0.56% | +27.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.48% | 0.44% | +24.04% |
ISPY.L vs. CSH2.L - Expense Ratio Comparison
ISPY.L has a 0.69% expense ratio, which is higher than CSH2.L's 0.10% expense ratio.
Dividends
ISPY.L vs. CSH2.L - Dividend Comparison
Neither ISPY.L nor CSH2.L has paid dividends to shareholders.
Frequently Asked Questions
ISPY.L and CSH2.L have a correlation of -0.05, 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 0.69% for ISPY.L.
ISPY.L is categorized as Cybersecurity, while CSH2.L is Money Market. ISPY.L tracks ISE Cyber Security UCITS Index, while CSH2.L tracks SONIA Compounded (GBP Hedged). They also come from different issuers: L&G and Amundi. Their fees differ too: 0.69% for ISPY.L and 0.10% for CSH2.L.
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