IUSA.L vs. BYBG.L

Last updated Jun 5, 2026

IUSA.L (iShares S&P 500 UCITS Dist) and BYBG.L (Amundi S&P 500 Buyback ETF-C USD) are both S&P 500 funds - IUSA.L tracks the S&P 500 Index while BYBG.L tracks the S&P 500 Buyback NTR. Both are passively managed. Over the past 10 years, IUSA.L returned 16.52%/yr vs 13.89%/yr for BYBG.L. Their correlation of 0.84 suggests significant overlap in exposure. IUSA.L charges 0.07%/yr vs 0.15%/yr for BYBG.L.

Performance

IUSA.L vs. BYBG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 UCITS Dist (IUSA.L) and Amundi S&P 500 Buyback ETF-C USD (BYBG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSA.L achieves a 10.67% return, which is significantly higher than BYBG.L's 8.46% return. Over the past 10 years, IUSA.L has outperformed BYBG.L with an annualized return of 16.52%, while BYBG.L has yielded a comparatively lower 13.89% annualized return.

IUSA.L

• 1D: 0.04%
• 1M: 4.50%
• YTD: 10.67%
• 6M: 10.05%
• 1Y: 29.42%
• 3Y*: 19.42%
• 5Y*: 15.33%
• 10Y*: 16.52%

BYBG.L

• 1D: 0.96%
• 1M: 5.09%
• YTD: 8.46%
• 6M: 8.43%
• 1Y: 23.95%
• 3Y*: 15.56%
• 5Y*: 11.34%
• 10Y*: 13.89%

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

IUSA.L vs. BYBG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSA.L iShares S&P 500 UCITS Dist	10.67%	9.70%	27.73%	20.24%	-8.72%	31.54%	14.15%	27.06%	0.51%	11.19%
BYBG.L Amundi S&P 500 Buyback ETF-C USD	8.46%	9.41%	15.83%	9.58%	-1.29%	35.95%	1.99%	26.54%	-3.60%	10.09%

Correlation

The correlation between IUSA.L and BYBG.L is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 5, 2015	0.84

Over the past year, the correlation between IUSA.L and BYBG.L has dropped to 0.56 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

IUSA.L vs. BYBG.L - Sectors Allocation Comparison

Sectors	IUSA.L	BYBG.L
Technology	38.2%	22.4%
Financial Services	11.1%	27.9%
Communication Services	10.9%	4.6%
Consumer Cyclical	10.0%	15.8%
Healthcare	8.3%	7.5%
Industrials	7.9%	9.0%
Consumer Defensive	4.7%	3.7%
Energy	3.2%	5.2%
Utilities	2.2%	0.9%
Real Estate	1.9%	-
Basic Materials	1.7%	3.1%

Return for Risk

IUSA.L vs. BYBG.L — Risk / Return Rank

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

IUSA.L

IUSA.L Risk / Return Rank: 84
IUSA.L Sharpe Ratio Rank: 86
IUSA.L Sortino Ratio Rank: 85
IUSA.L Omega Ratio Rank: 86
IUSA.L Calmar Ratio Rank: 81
IUSA.L Martin Ratio Rank: 80

BYBG.L

BYBG.L Risk / Return Rank: 71
BYBG.L Sharpe Ratio Rank: 66
BYBG.L Sortino Ratio Rank: 65
BYBG.L Omega Ratio Rank: 63
BYBG.L Calmar Ratio Rank: 87
BYBG.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.

IUSA.L vs. BYBG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 UCITS Dist (IUSA.L) and Amundi S&P 500 Buyback ETF-C USD (BYBG.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.

	IUSA.L	BYBG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.82	2.15	+0.67
Sortino ratio: Return per unit of downside risk	3.78	2.99	+0.79
Omega ratio: Gain probability vs. loss probability	1.53	1.38	+0.15
Calmar ratio: Return relative to maximum drawdown	4.20	4.88	-0.68
Martin ratio: Return relative to average drawdown	15.53	13.84	+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.

IUSA.L vs. BYBG.L - Sharpe Ratio Comparison

The current IUSA.L Sharpe Ratio is 2.82, which is higher than the BYBG.L Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of IUSA.L and BYBG.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

	IUSA.L	BYBG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	2.15	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	0.75	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.06	0.77	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.68	-0.10

Drawdowns

IUSA.L vs. BYBG.L - Drawdown Comparison

The maximum IUSA.L drawdown since its inception was -38.58%, which is greater than BYBG.L's maximum drawdown of -35.57%. Use the drawdown chart below to compare losses from any high point for IUSA.L and BYBG.L.

Drawdown Indicators

	IUSA.L	BYBG.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.58%	-35.57%	-3.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-4.86%	-2.15%
Max Drawdown (3Y) Largest decline over 3 years	-21.08%	-20.63%	-0.45%
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	-20.63%	-0.45%
Max Drawdown (10Y) Largest decline over 10 years	-25.42%	-35.57%	+10.15%
Current Drawdown Current decline from peak	-0.22%	0.00%	-0.22%
Average Drawdown Average peak-to-trough decline	-7.29%	-4.68%	-2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.72%	+0.18%

Volatility

IUSA.L vs. BYBG.L - Volatility Comparison

iShares S&P 500 UCITS Dist (IUSA.L) and Amundi S&P 500 Buyback ETF-C USD (BYBG.L) have volatilities of 2.62% and 2.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSA.L	BYBG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	2.72%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	7.13%	7.49%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	10.44%	11.02%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.33%	15.15%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	18.02%	-2.42%

IUSA.L vs. BYBG.L - Expense Ratio Comparison

IUSA.L has a 0.07% expense ratio, which is lower than BYBG.L's 0.15% 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

IUSA.L vs. BYBG.L - Dividend Comparison

IUSA.L's dividend yield for the trailing twelve months is around 1.15%, while BYBG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BYBG.L Amundi S&P 500 Buyback ETF-C USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IUSA.L iShares S&P 500 UCITS Dist	1.15%	1.24%	1.28%	1.55%	1.74%	1.39%	1.80%	1.96%	2.22%	1.95%	1.75%	2.29%

Frequently Asked Questions

Can I hold both IUSA.L and BYBG.L in my portfolio?

IUSA.L and BYBG.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUSA.L or BYBG.L?

On fees, IUSA.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, IUSA.L or BYBG.L?

IUSA.L is cheaper with a 0.07% expense ratio, compared with 0.15% for BYBG.L.

What is the main difference between IUSA.L and BYBG.L?

IUSA.L tracks S&P 500 Index, while BYBG.L tracks S&P 500 Buyback NTR. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.07% for IUSA.L and 0.15% for BYBG.L.