SPY5.DE vs. CSPX.L
SPY5.DE (SPDR S&P 500 UCITS ETF) and CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) are both S&P 500 funds tracking the S&P 500 Index, from State Street and BlackRock respectively. Both are passively managed. Over the past 10 years, SPY5.DE returned 14.78%/yr vs 14.87%/yr for CSPX.L. Their correlation of 0.91 suggests significant overlap in exposure. SPY5.DE charges 0.03%/yr vs 0.07%/yr for CSPX.L.
Performance
SPY5.DE vs. CSPX.L - Performance Comparison
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Different Trading Currencies
SPY5.DE is traded in EUR, while CSPX.L is traded in USD. To make them comparable, the CSPX.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SPY5.DE having a 9.95% return and CSPX.L slightly higher at 10.06%. Both investments have delivered pretty close results over the past 10 years, with SPY5.DE having a 14.78% annualized return and CSPX.L not far ahead at 14.87%.
SPY5.DE
- 1D
- 1.56%
- 1M
- 0.08%
- YTD
- 9.95%
- 6M
- 10.78%
- 1Y
- 24.88%
- 3Y*
- 17.96%
- 5Y*
- 14.23%
- 10Y*
- 14.78%
CSPX.L
- 1D
- 2.10%
- 1M
- 0.05%
- YTD
- 10.06%
- 6M
- 11.30%
- 1Y
- 24.68%
- 3Y*
- 17.98%
- 5Y*
- 14.27%
- 10Y*
- 14.87%
SPY5.DE vs. CSPX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY5.DE SPDR S&P 500 UCITS ETF | 9.95% | 4.75% | 32.36% | 22.42% | -14.24% | 40.60% | 6.73% | 34.44% | -1.62% | 6.69% |
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc) | 10.06% | 3.52% | 33.52% | 22.94% | -13.69% | 39.03% | 7.93% | 33.50% | -1.02% | 6.66% |
Correlation
The correlation between SPY5.DE and CSPX.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2012 | 0.91 |
The correlation between SPY5.DE and CSPX.L has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
SPY5.DE vs. CSPX.L — Risk / Return Rank
SPY5.DE
CSPX.L
SPY5.DE vs. CSPX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPY5.DE) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.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.
| SPY5.DE | CSPX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.36 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 3.47 | -0.06 |
| Martin ratioReturn relative to average drawdown | 12.10 | 11.77 | +0.33 |
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Drawdowns
SPY5.DE vs. CSPX.L - Drawdown Comparison
The maximum SPY5.DE drawdown since its inception was -33.86%, roughly equal to the maximum CSPX.L drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for SPY5.DE and CSPX.L.
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Drawdown Indicators
| SPY5.DE | CSPX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.86% | -33.40% | -0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -7.09% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -23.34% | -22.56% | -0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -23.34% | -22.56% | -0.78% |
Max Drawdown (10Y)Largest decline over 10 years | -33.86% | -33.40% | -0.46% |
Current DrawdownCurrent decline from peak | -1.74% | -1.74% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -4.11% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 2.09% | -0.07% |
Volatility
SPY5.DE vs. CSPX.L - Volatility Comparison
The current volatility for SPDR S&P 500 UCITS ETF (SPY5.DE) is 3.08%, while iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) has a volatility of 4.02%. This indicates that SPY5.DE experiences smaller price fluctuations and is considered to be less risky than CSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY5.DE | CSPX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 4.02% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 7.88% | 9.09% | -1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 12.75% | -1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.21% | 16.00% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 16.64% | -0.56% |
SPY5.DE vs. CSPX.L - Expense Ratio Comparison
SPY5.DE has a 0.03% expense ratio, which is lower than CSPX.L's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPY5.DE vs. CSPX.L - Dividend Comparison
SPY5.DE's dividend yield for the trailing twelve months is around 0.90%, while CSPX.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSPX.L iShares Core S&P 500 UCITS ETF USD (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% |
SPY5.DE SPDR S&P 500 UCITS ETF | 0.90% | 0.99% | 1.03% | 1.22% | 1.42% | 0.95% | 1.37% | 1.43% | 1.28% | 1.59% | 1.57% | 1.69% |
Frequently Asked Questions
With a correlation of 0.92, SPY5.DE and CSPX.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPY5.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY5.DE is cheaper with a 0.03% expense ratio, compared with 0.07% for CSPX.L.
Both ETFs track S&P 500 Index. They also come from different issuers: State Street and BlackRock. Their fees differ too: 0.03% for SPY5.DE and 0.07% for CSPX.L.
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