ISPY.L vs. CYSE.L

Last updated Jun 5, 2026

ISPY.L (L&G Cyber Security UCITS ETF) and CYSE.L (WisdomTree Cybersecurity UCITS ETF USD Acc) are both exchange-traded funds - ISPY.L is a Cybersecurity fund tracking the ISE Cyber Security UCITS Index, while CYSE.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, ISPY.L returned 13.11%/yr vs 10.59%/yr for CYSE.L. Their correlation of 0.91 suggests significant overlap in exposure. ISPY.L charges 0.69%/yr vs 0.45%/yr for CYSE.L.

Performance

ISPY.L vs. CYSE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Cyber Security UCITS ETF (ISPY.L) and WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISPY.L achieves a 39.54% return, which is significantly higher than CYSE.L's 24.45% return.

ISPY.L

• 1D: -2.08%
• 1M: 28.40%
• YTD: 39.54%
• 6M: 32.62%
• 1Y: 37.31%
• 3Y*: 25.75%
• 5Y*: 13.11%
• 10Y*: 17.85%

CYSE.L

• 1D: -1.44%
• 1M: 26.86%
• YTD: 24.45%
• 6M: 17.83%
• 1Y: 12.00%
• 3Y*: 18.44%
• 5Y*: 10.59%
• 10Y*: —

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

ISPY.L vs. CYSE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ISPY.L L&G Cyber Security UCITS ETF	39.54%	0.28%	19.68%	34.35%	-24.57%	4.56%
CYSE.L WisdomTree Cybersecurity UCITS ETF USD Acc	24.45%	-8.72%	13.36%	60.49%	-36.28%	11.39%

Correlation

The correlation between ISPY.L and CYSE.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 29, 2021	0.91

The correlation between ISPY.L and CYSE.L has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

ISPY.L vs. CYSE.L - Sectors Allocation Comparison

Sectors	ISPY.L	CYSE.L
Technology	97.2%	100.0%
Communication Services	2.4%	-
Industrials	0.4%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

ISPY.L vs. CYSE.L — Risk / Return Rank

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

ISPY.L

ISPY.L Risk / Return Rank: 40
ISPY.L Sharpe Ratio Rank: 43
ISPY.L Sortino Ratio Rank: 41
ISPY.L Omega Ratio Rank: 45
ISPY.L Calmar Ratio Rank: 38
ISPY.L Martin Ratio Rank: 32

CYSE.L

CYSE.L Risk / Return Rank: 15
CYSE.L Sharpe Ratio Rank: 15
CYSE.L Sortino Ratio Rank: 16
CYSE.L Omega Ratio Rank: 17
CYSE.L Calmar Ratio Rank: 14
CYSE.L Martin Ratio Rank: 13

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.

ISPY.L vs. CYSE.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 WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.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.

	ISPY.L	CYSE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.37	+1.09
Sortino ratio: Return per unit of downside risk	2.04	0.73	+1.31
Omega ratio: Gain probability vs. loss probability	1.28	1.10	+0.18
Calmar ratio: Return relative to maximum drawdown	1.83	0.38	+1.44
Martin ratio: Return relative to average drawdown	4.68	0.87	+3.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISPY.L vs. CYSE.L - Sharpe Ratio Comparison

The current ISPY.L Sharpe Ratio is 1.46, which is higher than the CYSE.L Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of ISPY.L and CYSE.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

	ISPY.L	CYSE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	0.37	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.34	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.24	+0.50

Drawdowns

ISPY.L vs. CYSE.L - Drawdown Comparison

The maximum ISPY.L drawdown since its inception was -31.77%, smaller than the maximum CYSE.L drawdown of -46.58%. Use the drawdown chart below to compare losses from any high point for ISPY.L and CYSE.L.

Drawdown Indicators

	ISPY.L	CYSE.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.77%	-46.58%	+14.81%
Max Drawdown (1Y) Largest decline over 1 year	-20.33%	-31.22%	+10.89%
Max Drawdown (3Y) Largest decline over 3 years	-28.19%	-35.88%	+7.69%
Max Drawdown (5Y) Largest decline over 5 years	-31.77%	-46.58%	+14.81%
Max Drawdown (10Y) Largest decline over 10 years	-31.77%	—	—
Current Drawdown Current decline from peak	-2.08%	-4.84%	+2.76%
Average Drawdown Average peak-to-trough decline	-8.83%	-19.16%	+10.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.96%	13.71%	-5.75%

Volatility

ISPY.L vs. CYSE.L - Volatility Comparison

The current volatility for L&G Cyber Security UCITS ETF (ISPY.L) is 10.14%, while WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L) has a volatility of 13.86%. This indicates that ISPY.L experiences smaller price fluctuations and is considered to be less risky than CYSE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISPY.L	CYSE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.14%	13.86%	-3.72%
Volatility (6M) Calculated over the trailing 6-month period	22.18%	28.40%	-6.22%
Volatility (1Y) Calculated over the trailing 1-year period	25.38%	32.03%	-6.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.91%	31.30%	-7.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	31.34%	-8.80%

ISPY.L vs. CYSE.L - Expense Ratio Comparison

ISPY.L has a 0.69% expense ratio, which is higher than CYSE.L's 0.45% expense ratio.

Dividends

ISPY.L vs. CYSE.L - Dividend Comparison

Neither ISPY.L nor CYSE.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CYSE.L WisdomTree Cybersecurity UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.24%
ISPY.L L&G Cyber Security UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISPY.L and CYSE.L in my portfolio?

ISPY.L and CYSE.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISPY.L or CYSE.L?

On fees, CYSE.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISPY.L or CYSE.L?

CYSE.L is cheaper with a 0.45% expense ratio, compared with 0.69% for ISPY.L.

What is the main difference between ISPY.L and CYSE.L?

ISPY.L is categorized as Cybersecurity, while CYSE.L is Technology Equities. ISPY.L tracks ISE Cyber Security UCITS Index, while CYSE.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: L&G and WisdomTree. Their fees differ too: 0.69% for ISPY.L and 0.45% for CYSE.L.