SPX5.L vs. CSP1.L

Last updated Apr 4, 2026

Compare and contrast key facts about SPDR S&P 500 UCITS ETF (SPX5.L) and iShares Core S&P 500 UCITS ETF (CSP1.L).

SPX5.L and CSP1.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPX5.L is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Mar 19, 2012. CSP1.L is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on May 19, 2010. Both SPX5.L and CSP1.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPX5.L vs. CSP1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P 500 UCITS ETF (SPX5.L) and iShares Core S&P 500 UCITS ETF (CSP1.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPX5.L is traded in GBP, while CSP1.L is traded in GBp. To make them comparable, the CSP1.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with SPX5.L at -2.78% and CSP1.L at -2.78%. Both investments have delivered pretty close results over the past 10 years, with SPX5.L having a 14.80% annualized return and CSP1.L not far behind at 14.71%.

SPX5.L

• 1D: 0.32%
• 1M: -3.27%
• YTD: -2.78%
• 6M: -0.25%
• 1Y: 20.80%
• 3Y*: 15.74%
• 5Y*: 12.70%
• 10Y*: 14.80%

CSP1.L

• 1D: 0.30%
• 1M: -3.27%
• YTD: -2.78%
• 6M: -0.25%
• 1Y: 20.74%
• 3Y*: 15.73%
• 5Y*: 12.70%
• 10Y*: 14.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPX5.L vs. CSP1.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPX5.L SPDR S&P 500 UCITS ETF	-2.78%	9.34%	27.47%	19.75%	-9.01%	30.96%	13.52%	26.74%	-0.04%	11.63%
CSP1.L iShares Core S&P 500 UCITS ETF	-2.78%	9.37%	27.35%	19.79%	-9.05%	31.07%	13.65%	26.42%	0.01%	10.83%

Correlation

The correlation between SPX5.L and CSP1.L is 0.95 — these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk. Consider pairing with a less correlated asset class instead.

SPX5.L vs. CSP1.L - Expense Ratio Comparison

SPX5.L has a 0.09% expense ratio, which is higher than CSP1.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%.

SPX5.L

SPDR S&P 500 UCITS ETF

CSP1.L

iShares Core S&P 500 UCITS ETF

Return for Risk

SPX5.L vs. CSP1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPX5.L

SPX5.L Risk / Return Rank: 63
SPX5.L Sharpe Ratio Rank: 52
SPX5.L Sortino Ratio Rank: 51
SPX5.L Omega Ratio Rank: 51
SPX5.L Calmar Ratio Rank: 82
SPX5.L Martin Ratio Rank: 79

CSP1.L

CSP1.L Risk / Return Rank: 63
CSP1.L Sharpe Ratio Rank: 52
CSP1.L Sortino Ratio Rank: 50
CSP1.L Omega Ratio Rank: 51
CSP1.L Calmar Ratio Rank: 81
CSP1.L Martin Ratio Rank: 79

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.

SPX5.L vs. CSP1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPX5.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.

	SPX5.L	CSP1.L	Difference
Sharpe ratio Return per unit of total volatility	0.99	0.99	0.00
Sortino ratio Return per unit of downside risk	1.43	1.43	0.00
Omega ratio Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio Return relative to maximum drawdown	2.94	2.91	+0.03
Martin ratio Return relative to average drawdown	10.57	10.51	+0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPX5.L vs. CSP1.L - Sharpe Ratio Comparison

The current SPX5.L Sharpe Ratio is 0.99, which is comparable to the CSP1.L Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of SPX5.L and CSP1.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.

Sharpe Ratios by Period

	SPX5.L	CSP1.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	0.99	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.88	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.95	0.94	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	1.04	-0.06

Drawdowns

SPX5.L vs. CSP1.L - Drawdown Comparison

The maximum SPX5.L drawdown since its inception was -25.45%, roughly equal to the maximum CSP1.L drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for SPX5.L and CSP1.L.

Drawdown Indicators

	SPX5.L	CSP1.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.45%	-25.48%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.07%	-7.12%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-20.90%	-20.77%	-0.13%
Max Drawdown (10Y) Largest decline over 10 years	-25.45%	-25.48%	+0.03%
Current Drawdown Current decline from peak	-4.42%	-4.45%	+0.03%
Average Drawdown Average peak-to-trough decline	-3.21%	-3.35%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.97%	0.00%

Volatility

SPX5.L vs. CSP1.L - Volatility Comparison

SPDR S&P 500 UCITS ETF (SPX5.L) and iShares Core S&P 500 UCITS ETF (CSP1.L) have volatilities of 3.63% and 3.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPX5.L	CSP1.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.63%	3.61%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	8.30%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	15.09%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.28%	14.37%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	15.60%	-0.06%

Dividends

SPX5.L vs. CSP1.L - Dividend Comparison

SPX5.L's dividend yield for the trailing twelve months is around 1.01%, while CSP1.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPX5.L SPDR S&P 500 UCITS ETF	1.01%	0.98%	1.04%	1.21%	1.39%	0.98%	1.40%	1.76%	1.71%	2.36%	1.49%	1.68%
CSP1.L iShares Core S&P 500 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%