IWVL.L vs. CSPX.AS
IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) and CSPX.AS (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IWVL.L is a Global Equities fund tracking the MSCI World Enhanced Value Index, while CSPX.AS is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IWVL.L returned 12.93%/yr vs 15.24%/yr for CSPX.AS. A 0.74 correlation means they provide meaningful diversification when combined. IWVL.L charges 0.25%/yr vs 0.07%/yr for CSPX.AS.
Performance
IWVL.L vs. CSPX.AS - Performance Comparison
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Different Trading Currencies
IWVL.L is traded in USD, while CSPX.AS is traded in EUR. To make them comparable, the CSPX.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IWVL.L achieves a 33.55% return, which is significantly higher than CSPX.AS's 9.32% return. Over the past 10 years, IWVL.L has underperformed CSPX.AS with an annualized return of 12.93%, while CSPX.AS has yielded a comparatively higher 15.24% annualized return.
IWVL.L
- 1D
- -0.10%
- 1M
- 4.07%
- YTD
- 33.55%
- 6M
- 34.67%
- 1Y
- 65.18%
- 3Y*
- 28.64%
- 5Y*
- 17.14%
- 10Y*
- 12.93%
CSPX.AS
- 1D
- 0.38%
- 1M
- 0.12%
- YTD
- 9.32%
- 6M
- 10.37%
- 1Y
- 26.63%
- 3Y*
- 20.91%
- 5Y*
- 13.72%
- 10Y*
- 15.24%
IWVL.L vs. CSPX.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) | 33.55% | 40.42% | 5.13% | 19.53% | -9.79% | 20.11% | -3.67% | 18.13% | -14.03% | 22.60% |
CSPX.AS iShares Core S&P 500 UCITS ETF | 9.32% | 17.97% | 25.59% | 26.14% | -19.39% | 30.70% | 17.25% | 30.40% | -5.01% | 22.28% |
Correlation
The correlation between IWVL.L and CSPX.AS is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.74 |
The correlation between IWVL.L and CSPX.AS has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.
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Return for Risk
IWVL.L vs. CSPX.AS — Risk / Return Rank
IWVL.L
CSPX.AS
IWVL.L vs. CSPX.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) and iShares Core S&P 500 UCITS ETF (CSPX.AS). 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.
| IWVL.L | CSPX.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.73 | 1.41 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 7.52 | 3.17 | +4.35 |
| Martin ratioReturn relative to average drawdown | 27.49 | 13.10 | +14.38 |
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Drawdowns
IWVL.L vs. CSPX.AS - Drawdown Comparison
The maximum IWVL.L drawdown since its inception was -39.30%, which is greater than CSPX.AS's maximum drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for IWVL.L and CSPX.AS.
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Drawdown Indicators
| IWVL.L | CSPX.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -34.12% | -5.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -8.56% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -14.46% | -19.52% | +5.06% |
Max Drawdown (5Y)Largest decline over 5 years | -26.55% | -24.42% | -2.13% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -34.12% | -5.18% |
Current DrawdownCurrent decline from peak | -1.45% | -1.39% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -7.46% | -3.70% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 2.08% | +0.31% |
Volatility
IWVL.L vs. CSPX.AS - Volatility Comparison
iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a higher volatility of 6.20% compared to iShares Core S&P 500 UCITS ETF (CSPX.AS) at 3.65%. This indicates that IWVL.L's price experiences larger fluctuations and is considered to be riskier than CSPX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWVL.L | CSPX.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 3.65% | +2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 13.71% | 8.50% | +5.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.23% | 11.70% | +4.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 15.89% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.00% | 16.31% | +0.69% |
IWVL.L vs. CSPX.AS - Expense Ratio Comparison
IWVL.L has a 0.25% expense ratio, which is higher than CSPX.AS's 0.07% 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
IWVL.L vs. CSPX.AS - Dividend Comparison
Neither IWVL.L nor CSPX.AS has paid dividends to shareholders.
Frequently Asked Questions
IWVL.L and CSPX.AS have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSPX.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSPX.AS is cheaper with a 0.07% expense ratio, compared with 0.25% for IWVL.L.
IWVL.L is categorized as Global Equities, while CSPX.AS is S&P 500. IWVL.L tracks MSCI World Enhanced Value Index, while CSPX.AS tracks S&P 500 Index. Their fees differ too: 0.25% for IWVL.L and 0.07% for CSPX.AS.
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