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LSPU.L vs. CSH2.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LSPU.L vs. CSH2.L

Last updated Jun 5, 2026

LSPU.L (Lyxor S&P 500 UCITS ETF - D-USD) and CSH2.L (Lyxor Smart Overnight Return UCITS ETF C-GBP) are both exchange-traded funds - LSPU.L is a S&P 500 fund tracking the Russell 1000 TR USD, while CSH2.L is a Money Market fund actively managed by Amundi. LSPU.L is passively managed, while CSH2.L is actively managed. Over the past 10 years, LSPU.L returned 15.44%/yr vs 1.33%/yr for CSH2.L. At a 0.20 correlation, their price movements are largely independent. LSPU.L charges 0.09%/yr vs 0.07%/yr for CSH2.L.

Performance

LSPU.L vs. CSH2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lyxor S&P 500 UCITS ETF - D-USD (LSPU.L) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

LSPU.L is traded in USD, while CSH2.L is traded in GBp. To make them comparable, the CSH2.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, LSPU.L achieves a 10.38% return, which is significantly higher than CSH2.L's 1.49% return. Over the past 10 years, LSPU.L has outperformed CSH2.L with an annualized return of 15.44%, while CSH2.L has yielded a comparatively lower 1.33% annualized return.

LSPU.L

1D
-0.07%
1M
4.45%
YTD
10.38%
6M
11.18%
1Y
27.94%
3Y*
22.35%
5Y*
13.90%
10Y*
15.44%

CSH2.L

1D
0.08%
1M
-0.49%
YTD
1.49%
6M
2.83%
1Y
3.38%
3Y*
7.71%
5Y*
2.57%
10Y*
1.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

LSPU.L vs. CSH2.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
LSPU.L
Lyxor S&P 500 UCITS ETF - D-USD		10.38%17.50%25.55%26.94%-18.54%29.55%17.97%30.76%-5.29%21.93%
CSH2.L
Lyxor Smart Overnight Return UCITS ETF C-GBP		1.49%12.57%3.85%10.24%-9.32%-0.78%3.37%4.86%-5.00%9.98%

Correlation

The correlation between LSPU.L and CSH2.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.26

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

0.21

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

0.29

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

0.21

Correlation (All Time)
Calculated using the full available price history since Jun 11, 2015

0.20

LSPU.L vs. CSH2.L - Sectors Allocation Comparison

Sectors
LSPU.L
CSH2.L

Technology

35.6%
35.9%

Financial Services

11.8%
10.4%

Communication Services

11.2%
13.9%

Consumer Cyclical

10.1%
13.9%

Healthcare

8.5%
11.3%

Industrials

8.3%
6.3%

Consumer Defensive

4.9%
4.9%

Energy

3.5%
1.4%

Utilities

2.4%
1.1%

Real Estate

1.9%
0.0%

Basic Materials

1.8%
1.0%

Technology

LSPU.L
35.6%
CSH2.L
35.9%

Financial Services

LSPU.L
11.8%
CSH2.L
10.4%

Communication Services

LSPU.L
11.2%
CSH2.L
13.9%

Consumer Cyclical

LSPU.L
10.1%
CSH2.L
13.9%

Healthcare

LSPU.L
8.5%
CSH2.L
11.3%

Industrials

LSPU.L
8.3%
CSH2.L
6.3%

Consumer Defensive

LSPU.L
4.9%
CSH2.L
4.9%

Energy

LSPU.L
3.5%
CSH2.L
1.4%

Utilities

LSPU.L
2.4%
CSH2.L
1.1%

Real Estate

LSPU.L
1.9%
CSH2.L
0.0%

Basic Materials

LSPU.L
1.8%
CSH2.L
1.0%

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Lyxor S&P 500 UCITS ETF - D-USD

Lyxor Smart Overnight Return UCITS ETF C-GBP

Often compared with LSPU.L:
LSPU.L vs. CSPX.LLSPU.L vs. VUAG.LLSPU.L vs. FXAIXLSPU.L vs. SP5L.LLSPU.L vs. VUAA.DELSPU.L vs. SPYLSPU.L vs. QGRW
Often compared with CSH2.L:
CSH2.L vs. ERNS.LCSH2.L vs. MINV.LCSH2.L vs. BILSCSH2.L vs. ERNA.LCSH2.L vs. TI5G.LCSH2.L vs. LCSIXCSH2.L vs. AAPL

Return for Risk

LSPU.L vs. CSH2.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LSPU.L
LSPU.L Risk / Return Rank: 7676
Overall Rank
LSPU.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
LSPU.L Sortino Ratio Rank: 8080
Sortino Ratio Rank
LSPU.L Omega Ratio Rank: 7676
Omega Ratio Rank
LSPU.L Calmar Ratio Rank: 7070
Calmar Ratio Rank
LSPU.L Martin Ratio Rank: 7777
Martin Ratio Rank
CSH2.L
CSH2.L Risk / Return Rank: 9999
Overall Rank
CSH2.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CSH2.L Sortino Ratio Rank: 9999
Sortino Ratio Rank
CSH2.L Omega Ratio Rank: 9999
Omega Ratio Rank
CSH2.L Calmar Ratio Rank: 9999
Calmar Ratio Rank
CSH2.L Martin Ratio Rank: 9999
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.

LSPU.L vs. CSH2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor S&P 500 UCITS ETF - D-USD (LSPU.L) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.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.

LSPU.LCSH2.LDifference
Sharpe ratioReturn per unit of total volatility
2.40
0.51

+1.89

Sortino ratioReturn per unit of downside risk
3.53
0.79

+2.74

Omega ratioGain probability vs. loss probability

1.44

1.09

+0.35

Calmar ratioReturn relative to maximum drawdown

3.43

0.82

+2.61

Martin ratioReturn relative to average drawdown

14.72

1.79

+12.93

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

LSPU.L vs. CSH2.L - Sharpe Ratio Comparison

The current LSPU.L Sharpe Ratio is 2.40, which is higher than the CSH2.L Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of LSPU.L and CSH2.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

LSPU.LCSH2.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.40

0.51

+1.89

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

0.30

+0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.95

0.14

+0.80

Sharpe Ratio (All Time)

Calculated using the full available price history

0.88

0.07

+0.82

Drawdowns

LSPU.L vs. CSH2.L - Drawdown Comparison

The maximum LSPU.L drawdown since its inception was -33.99%, which is greater than CSH2.L's maximum drawdown of -29.83%. Use the drawdown chart below to compare losses from any high point for LSPU.L and CSH2.L.

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Drawdown Indicators

LSPU.LCSH2.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.99%

-29.83%

-4.16%

Max Drawdown (1Y)

Largest decline over 1 year

-8.11%

-4.11%

-4.00%

Max Drawdown (3Y)

Largest decline over 3 years

-18.43%

-7.81%

-10.62%

Max Drawdown (5Y)

Largest decline over 5 years

-24.18%

-23.98%

-0.20%

Max Drawdown (10Y)

Largest decline over 10 years

-33.99%

-25.51%

-8.48%

Current Drawdown

Current decline from peak

-0.57%

-1.62%

+1.05%

Average Drawdown

Average peak-to-trough decline

-3.90%

-12.73%

+8.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.89%

1.88%

+0.01%

Volatility

LSPU.L vs. CSH2.L - Volatility Comparison

Lyxor S&P 500 UCITS ETF - D-USD (LSPU.L) has a higher volatility of 3.13% compared to Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L) at 1.81%. This indicates that LSPU.L's price experiences larger fluctuations and is considered to be riskier than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LSPU.LCSH2.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.13%

1.81%

+1.32%

Volatility (6M)

Calculated over the trailing 6-month period

8.52%

4.94%

+3.58%

Volatility (1Y)

Calculated over the trailing 1-year period

11.60%

6.62%

+4.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.93%

8.55%

+7.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.28%

9.36%

+6.92%

LSPU.L vs. CSH2.L - Expense Ratio Comparison

LSPU.L has a 0.09% expense ratio, which is higher than CSH2.L'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

LSPU.L vs. CSH2.L - Dividend Comparison

LSPU.L's dividend yield for the trailing twelve months is around 0.90%, while CSH2.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CSH2.L
Lyxor Smart Overnight Return UCITS ETF C-GBP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
LSPU.L
Lyxor S&P 500 UCITS ETF - D-USD		0.90%0.99%1.29%1.00%2.05%1.11%1.47%1.64%1.96%1.68%1.96%2.01%

Frequently Asked Questions

LSPU.L and CSH2.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CSH2.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CSH2.L is cheaper with a 0.07% expense ratio, compared with 0.09% for LSPU.L.

LSPU.L is categorized as S&P 500, while CSH2.L is Money Market. Their fees differ too: 0.09% for LSPU.L and 0.07% for CSH2.L.

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