IUSE.L vs. CSH.PA
IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) are both exchange-traded funds - IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index, while CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index. Both are passively managed. Over the past 10 years, IUSE.L returned 12.04%/yr vs 0.68%/yr for CSH.PA. At a correlation of -0.04, they often move in opposite directions. IUSE.L charges 0.20%/yr vs 0.10%/yr for CSH.PA.
Performance
IUSE.L vs. CSH.PA - Performance Comparison
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Returns By Period
In the year-to-date period, IUSE.L achieves a 7.54% return, which is significantly higher than CSH.PA's 1.05% return. Over the past 10 years, IUSE.L has outperformed CSH.PA with an annualized return of 12.04%, while CSH.PA has yielded a comparatively lower 0.68% annualized return.
IUSE.L
- 1D
- -1.30%
- 1M
- -0.21%
- 6M
- 6.68%
- YTD
- 7.54%
- 1Y
- 17.02%
- 3Y*
- 16.87%
- 5Y*
- 10.14%
- 10Y*
- 12.04%
CSH.PA
- 1D
- 0.00%
- 1M
- 0.18%
- 6M
- 1.04%
- YTD
- 1.05%
- 1Y
- 1.99%
- 3Y*
- 2.92%
- 5Y*
- 1.94%
- 10Y*
- 0.68%
IUSE.L vs. CSH.PA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 7.54% | 14.95% | 23.21% | 23.05% | -21.17% | 27.85% | 14.81% | 26.33% | -8.40% | 19.04% |
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 1.05% | 2.25% | 3.69% | 3.22% | -0.11% | -0.70% | -0.69% | -0.61% | -0.55% | -0.45% |
Correlation
The correlation between IUSE.L and CSH.PA is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | -0.04 |
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Return for Risk
IUSE.L vs. CSH.PA — Risk / Return Rank
IUSE.L
CSH.PA
IUSE.L vs. CSH.PA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA). 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.
| IUSE.L | CSH.PA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.86 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 5.77 | -3.80 |
| Martin ratioReturn relative to average drawdown | 7.93 | 34.47 | -26.53 |
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Drawdowns
IUSE.L vs. CSH.PA - Drawdown Comparison
The maximum IUSE.L drawdown since its inception was -34.75%, which is greater than CSH.PA's maximum drawdown of -5.07%. Use the drawdown chart below to compare losses from any high point for IUSE.L and CSH.PA.
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Drawdown Indicators
| IUSE.L | CSH.PA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.75% | -5.07% | -29.68% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -0.35% | -8.32% |
Max Drawdown (3Y)Largest decline over 3 years | -18.33% | -0.35% | -17.98% |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | -0.75% | -25.48% |
Max Drawdown (10Y)Largest decline over 10 years | -34.75% | -3.57% | -31.18% |
Current DrawdownCurrent decline from peak | -1.97% | -0.32% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -1.51% | -2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 0.06% | +2.10% |
Volatility
IUSE.L vs. CSH.PA - Volatility Comparison
iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) has a higher volatility of 3.05% compared to Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) at 0.53%. This indicates that IUSE.L's price experiences larger fluctuations and is considered to be riskier than CSH.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSE.L | CSH.PA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 0.53% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 0.65% | +8.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 0.71% | +11.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.07% | 0.42% | +15.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 0.32% | +15.97% |
IUSE.L vs. CSH.PA - Expense Ratio Comparison
IUSE.L has a 0.20% expense ratio, which is higher than CSH.PA's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IUSE.L vs. CSH.PA - Dividend Comparison
Neither IUSE.L nor CSH.PA has paid dividends to shareholders.
Frequently Asked Questions
IUSE.L and CSH.PA have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH.PA is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH.PA is cheaper with a 0.10% expense ratio, compared with 0.20% for IUSE.L.
IUSE.L is categorized as S&P 500, while CSH.PA is Money Market. IUSE.L tracks S&P 500 EUR Hedged Index, while CSH.PA tracks Solactive Euro Overnight Return Index. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.20% for IUSE.L and 0.10% for CSH.PA.
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