ROLL.L vs. CSP1.L
ROLL.L (iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - ROLL.L is a Commodities fund tracking the iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF, while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, ROLL.L returned 12.62%/yr vs 13.16%/yr for CSP1.L. At a 0.25 correlation, their price movements are largely independent. ROLL.L charges 0.28%/yr vs 0.07%/yr for CSP1.L.
Performance
ROLL.L vs. CSP1.L - Performance Comparison
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Different Trading Currencies
ROLL.L is traded in USD, while CSP1.L is traded in GBp. To make them comparable, the CSP1.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ROLL.L achieves a 23.85% return, which is significantly higher than CSP1.L's 10.64% return.
ROLL.L
- 1D
- 0.55%
- 1M
- 1.79%
- 6M
- 17.06%
- YTD
- 23.85%
- 1Y
- 34.95%
- 3Y*
- 14.61%
- 5Y*
- 12.62%
- 10Y*
- —
CSP1.L
- 1D
- 0.64%
- 1M
- 0.52%
- 6M
- 10.36%
- YTD
- 10.64%
- 1Y
- 22.24%
- 3Y*
- 20.23%
- 5Y*
- 13.16%
- 10Y*
- 15.00%
ROLL.L vs. CSP1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ROLL.L iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF | 23.85% | 16.94% | 4.68% | -2.22% | 16.67% | 27.69% | 0.83% | 5.26% | -11.11% |
CSP1.L iShares Core S&P 500 UCITS ETF | 10.64% | 17.63% | 25.22% | 26.11% | -18.77% | 29.88% | 17.14% | 31.49% | -14.15% |
Correlation
The correlation between ROLL.L and CSP1.L is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.25 |
The correlation between ROLL.L and CSP1.L shifts across timeframes, from -0.05 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ROLL.L vs. CSP1.L — Risk / Return Rank
ROLL.L
CSP1.L
ROLL.L vs. CSP1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L) and iShares Core S&P 500 UCITS ETF (CSP1.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.
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.
| ROLL.L | CSP1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.33 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.55 | -0.05 |
| Martin ratioReturn relative to average drawdown | 8.63 | 10.42 | -1.78 |
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Drawdowns
ROLL.L vs. CSP1.L - Drawdown Comparison
The maximum ROLL.L drawdown since its inception was -26.90%, smaller than the maximum CSP1.L drawdown of -33.51%. Use the drawdown chart below to compare losses from any high point for ROLL.L and CSP1.L.
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Drawdown Indicators
| ROLL.L | CSP1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.90% | -33.51% | +6.61% |
Max Drawdown (1Y)Largest decline over 1 year | -13.94% | -8.68% | -5.26% |
Max Drawdown (3Y)Largest decline over 3 years | -13.94% | -19.33% | +5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -20.45% | -25.16% | +4.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.51% | — |
Current DrawdownCurrent decline from peak | -7.46% | -0.22% | -7.24% |
Average DrawdownAverage peak-to-trough decline | -9.17% | -4.07% | -5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 2.13% | +1.91% |
Volatility
ROLL.L vs. CSP1.L - Volatility Comparison
iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L) has a higher volatility of 4.60% compared to iShares Core S&P 500 UCITS ETF (CSP1.L) at 3.12%. This indicates that ROLL.L's price experiences larger fluctuations and is considered to be riskier than CSP1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ROLL.L | CSP1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 3.12% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 14.48% | 8.66% | +5.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.55% | 11.64% | +4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 20.99% | -4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.96% | 18.84% | -3.88% |
ROLL.L vs. CSP1.L - Expense Ratio Comparison
ROLL.L has a 0.28% expense ratio, which is higher than CSP1.L's 0.07% expense ratio.
Dividends
ROLL.L vs. CSP1.L - Dividend Comparison
Neither ROLL.L nor CSP1.L has paid dividends to shareholders.
Frequently Asked Questions
ROLL.L and CSP1.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSP1.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSP1.L is cheaper with a 0.07% expense ratio, compared with 0.28% for ROLL.L.
ROLL.L is categorized as Commodities, while CSP1.L is S&P 500. ROLL.L tracks iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF, while CSP1.L tracks S&P 500 Index. Their fees differ too: 0.28% for ROLL.L and 0.07% for CSP1.L.
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