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IUSE.L vs. LSPX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUSE.L vs. LSPX.L

Last updated Jun 5, 2026

IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and LSPX.L (Lyxor S&P 500 UCITS ETF - D-USD) are both S&P 500 funds - IUSE.L tracks the S&P 500 EUR Hedged Index while LSPX.L tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, IUSE.L returned 12.48%/yr vs 15.07%/yr for LSPX.L. A 0.61 correlation means they provide meaningful diversification when combined. IUSE.L charges 0.20%/yr vs 0.09%/yr for LSPX.L.

Performance

IUSE.L vs. LSPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and Lyxor S&P 500 UCITS ETF - D-USD (LSPX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IUSE.L is traded in EUR, while LSPX.L is traded in GBp. To make them comparable, the LSPX.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSE.L achieves a 9.10% return, which is significantly lower than LSPX.L's 11.62% return. Over the past 10 years, IUSE.L has underperformed LSPX.L with an annualized return of 12.48%, while LSPX.L has yielded a comparatively higher 15.07% annualized return.

IUSE.L

1D
0.01%
1M
3.10%
YTD
9.10%
6M
9.36%
1Y
24.30%
3Y*
19.47%
5Y*
11.10%
10Y*
12.48%

LSPX.L

1D
-0.10%
1M
4.48%
YTD
11.62%
6M
10.94%
1Y
26.02%
3Y*
19.04%
5Y*
14.98%
10Y*
15.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSE.L vs. LSPX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		9.10%14.95%23.20%23.05%-21.17%27.85%14.81%26.33%-8.40%19.04%
LSPX.L
Lyxor S&P 500 UCITS ETF - D-USD		11.62%3.77%33.79%22.74%-14.20%40.82%7.62%37.96%-3.90%5.85%

Correlation

The correlation between IUSE.L and LSPX.L is 0.79, 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

0.79

Correlation (3Y)
Calculated over the trailing 3-year period

0.79

Correlation (5Y)
Calculated over the trailing 5-year period

0.80

Correlation (10Y)
Calculated over the trailing 10-year period

0.75

Correlation (All Time)
Calculated using the full available price history since Oct 18, 2010

0.61

The correlation between IUSE.L and LSPX.L shifts across timeframes, from 0.61 (all time) to 0.80 (5 years), reflecting how their relationship changes across market environments.

IUSE.L vs. LSPX.L - Sectors Allocation Comparison

Sectors
IUSE.L
LSPX.L

Technology

35.6%
35.6%

Financial Services

11.8%
11.8%

Communication Services

11.2%
11.2%

Consumer Cyclical

10.1%
10.1%

Healthcare

8.5%
8.5%

Industrials

8.3%
8.3%

Consumer Defensive

4.9%
4.9%

Energy

3.5%
3.5%

Utilities

2.3%
2.4%

Real Estate

1.9%
1.9%

Basic Materials

1.8%
1.8%

Technology

IUSE.L
35.6%
LSPX.L
35.6%

Financial Services

IUSE.L
11.8%
LSPX.L
11.8%

Communication Services

IUSE.L
11.2%
LSPX.L
11.2%

Consumer Cyclical

IUSE.L
10.1%
LSPX.L
10.1%

Healthcare

IUSE.L
8.5%
LSPX.L
8.5%

Industrials

IUSE.L
8.3%
LSPX.L
8.3%

Consumer Defensive

IUSE.L
4.9%
LSPX.L
4.9%

Energy

IUSE.L
3.5%
LSPX.L
3.5%

Utilities

IUSE.L
2.3%
LSPX.L
2.4%

Real Estate

IUSE.L
1.9%
LSPX.L
1.9%

Basic Materials

IUSE.L
1.8%
LSPX.L
1.8%

Compare stocks, funds, or ETFs

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iShares S&P 500 EUR Hedged UCITS ETF Acc

Lyxor S&P 500 UCITS ETF - D-USD

Often compared with IUSE.L:
IUSE.L vs. EXS1.DEIUSE.L vs. CEMS.DEIUSE.L vs. IBCK.DEIUSE.L vs. IBCF.DEIUSE.L vs. SPYIUSE.L vs. SNAW.DEIUSE.L vs. SXR8.DE
Often compared with LSPX.L:
LSPX.L vs. VUAG.LLSPX.L vs. CSP1.LLSPX.L vs. XSTC.LLSPX.L vs. SPYLSPX.L vs. SPXP.LLSPX.L vs. VOOLSPX.L vs. VERG.L

Return for Risk

IUSE.L vs. LSPX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUSE.L
IUSE.L Risk / Return Rank: 6565
Overall Rank
IUSE.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IUSE.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
IUSE.L Omega Ratio Rank: 6565
Omega Ratio Rank
IUSE.L Calmar Ratio Rank: 5858
Calmar Ratio Rank
IUSE.L Martin Ratio Rank: 6767
Martin Ratio Rank
LSPX.L
LSPX.L Risk / Return Rank: 8383
Overall Rank
LSPX.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
LSPX.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
LSPX.L Omega Ratio Rank: 8686
Omega Ratio Rank
LSPX.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
LSPX.L Martin Ratio Rank: 7777
Martin Ratio Rank
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.

IUSE.L vs. LSPX.L - 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 Lyxor S&P 500 UCITS ETF - D-USD (LSPX.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.

IUSE.LLSPX.LDifference
Sharpe ratioReturn per unit of total volatility
2.12
2.32

-0.20

Sortino ratioReturn per unit of downside risk
3.10
3.14

-0.04

Omega ratioGain probability vs. loss probability

1.38

1.43

-0.05

Calmar ratioReturn relative to maximum drawdown

2.83

3.63

-0.80

Martin ratioReturn relative to average drawdown

12.09

13.15

-1.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSE.L vs. LSPX.L - Sharpe Ratio Comparison

The current IUSE.L Sharpe Ratio is 2.12, which is comparable to the LSPX.L Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of IUSE.L and LSPX.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.

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Sharpe Ratios by Period

IUSE.LLSPX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.12

2.32

-0.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

1.02

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.76

1.02

-0.26

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

1.23

-0.44

Drawdowns

IUSE.L vs. LSPX.L - Drawdown Comparison

The maximum IUSE.L drawdown since its inception was -34.75%, which is greater than LSPX.L's maximum drawdown of -32.90%. Use the drawdown chart below to compare losses from any high point for IUSE.L and LSPX.L.

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Drawdown Indicators

IUSE.LLSPX.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.75%

-32.90%

-1.85%

Max Drawdown (1Y)

Largest decline over 1 year

-8.67%

-7.17%

-1.50%

Max Drawdown (3Y)

Largest decline over 3 years

-18.33%

-22.83%

+4.50%

Max Drawdown (5Y)

Largest decline over 5 years

-26.23%

-22.83%

-3.40%

Max Drawdown (10Y)

Largest decline over 10 years

-34.75%

-32.90%

-1.85%

Current Drawdown

Current decline from peak

-0.55%

-0.39%

-0.16%

Average Drawdown

Average peak-to-trough decline

-4.31%

-4.15%

-0.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

1.98%

+0.05%

Volatility

IUSE.L vs. LSPX.L - Volatility Comparison

iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) has a higher volatility of 3.24% compared to Lyxor S&P 500 UCITS ETF - D-USD (LSPX.L) at 2.10%. This indicates that IUSE.L's price experiences larger fluctuations and is considered to be riskier than LSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUSE.LLSPX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.24%

2.10%

+1.14%

Volatility (6M)

Calculated over the trailing 6-month period

8.53%

7.37%

+1.16%

Volatility (1Y)

Calculated over the trailing 1-year period

11.58%

11.19%

+0.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.00%

15.38%

+0.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.33%

17.41%

-1.08%

IUSE.L vs. LSPX.L - Expense Ratio Comparison

IUSE.L has a 0.20% expense ratio, which is higher than LSPX.L's 0.09% 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. LSPX.L - Dividend Comparison

IUSE.L has not paid dividends to shareholders, while LSPX.L's dividend yield for the trailing twelve months is around 0.91%.

PositionTTM20252024202320222021202020192018201720162015
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
LSPX.L
Lyxor S&P 500 UCITS ETF - D-USD		0.91%1.00%1.27%1.02%2.06%1.10%1.53%1.70%1.97%1.72%1.87%1.96%

Frequently Asked Questions

IUSE.L and LSPX.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, LSPX.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

LSPX.L is cheaper with a 0.09% expense ratio, compared with 0.20% for IUSE.L.

IUSE.L tracks S&P 500 EUR Hedged Index, while LSPX.L tracks S&P 500 Index. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.20% for IUSE.L and 0.09% for LSPX.L.

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