USIC.L vs. CSH2.L

Last updated Jun 25, 2026

USIC.L (Lyxor ESG USD Corporate Bond (DR) UCITS ETF - Acc) and CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) are both exchange-traded funds - USIC.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged). Both are passively managed. Over the past 3 years, USIC.L returned 5.15%/yr vs 6.29%/yr for CSH2.L. At a 0.26 correlation, their price movements are largely independent. USIC.L charges 0.14%/yr vs 0.10%/yr for CSH2.L.

Performance

USIC.L vs. CSH2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lyxor ESG USD Corporate Bond (DR) UCITS ETF - Acc (USIC.L) and Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USIC.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, USIC.L achieves a 0.79% return, which is significantly higher than CSH2.L's -0.02% return.

USIC.L

• 1D: 0.49%
• 1M: 1.39%
• YTD: 0.79%
• 6M: 1.19%
• 1Y: 5.03%
• 3Y*: 5.15%
• 5Y*: —
• 10Y*: —

CSH2.L

• 1D: 0.00%
• 1M: -1.32%
• YTD: -0.02%
• 6M: -0.23%
• 1Y: 1.13%
• 3Y*: 6.29%
• 5Y*: 2.67%
• 10Y*: 1.74%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
USIC.L Lyxor ESG USD Corporate Bond (DR) UCITS ETF - Acc	0.79%	7.41%	2.38%	8.08%	-15.02%	-0.30%
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc	-0.27%	12.57%	3.85%	10.24%	-9.32%	-2.59%

Correlation

The correlation between USIC.L and CSH2.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jul 12, 2021	0.26

Return for Risk

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

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

USIC.L

USIC.L Risk / Return Rank: 35
USIC.L Sharpe Ratio Rank: 33
USIC.L Sortino Ratio Rank: 33
USIC.L Omega Ratio Rank: 31
USIC.L Calmar Ratio Rank: 40
USIC.L Martin Ratio Rank: 39

CSH2.L

CSH2.L Risk / Return Rank: 99
CSH2.L Sharpe Ratio Rank: 99
CSH2.L Sortino Ratio Rank: 99
CSH2.L Omega Ratio Rank: 99
CSH2.L Calmar Ratio Rank: 99
CSH2.L Martin Ratio Rank: 99

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.

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

This table presents a comparison of risk-adjusted performance metrics for Lyxor ESG USD Corporate Bond (DR) UCITS ETF - Acc (USIC.L) and Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (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.

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.

	USIC.L	CSH2.L	Difference
Sharpe ratio: Return per unit of total volatility	1.08	0.17	+0.91
Sortino ratio: Return per unit of downside risk	1.61	0.29	+1.31
Omega ratio: Gain probability vs. loss probability	1.19	1.03	+0.16
Calmar ratio: Return relative to maximum drawdown	1.77	0.27	+1.50
Martin ratio: Return relative to average drawdown	5.42	0.57	+4.85

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

The current USIC.L Sharpe Ratio is 1.08, which is higher than the CSH2.L Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of USIC.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.

Drawdowns

USIC.L vs. CSH2.L - Drawdown Comparison

The maximum USIC.L drawdown since its inception was -21.41%, smaller than the maximum CSH2.L drawdown of -29.83%. Use the drawdown chart below to compare losses from any high point for USIC.L and CSH2.L.

Drawdown Indicators

	USIC.L	CSH2.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.41%	-29.83%	+8.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-4.11%	+1.28%
Max Drawdown (3Y) Largest decline over 3 years	-5.87%	-7.81%	+1.94%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.10%	—
Current Drawdown Current decline from peak	-0.29%	-3.09%	+2.80%
Average Drawdown Average peak-to-trough decline	-8.22%	-12.66%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	1.96%	-1.03%

Volatility

USIC.L vs. CSH2.L - Volatility Comparison

The current volatility for Lyxor ESG USD Corporate Bond (DR) UCITS ETF - Acc (USIC.L) is 1.39%, while Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) has a volatility of 1.63%. This indicates that USIC.L experiences smaller price fluctuations and is considered to be less risky than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USIC.L	CSH2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	1.63%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	3.51%	5.00%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	4.64%	6.62%	-1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.62%	8.55%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.62%	8.95%	-0.33%

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

USIC.L has a 0.14% expense ratio, which is higher than CSH2.L's 0.10% 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

USIC.L vs. CSH2.L - Dividend Comparison

Neither USIC.L nor CSH2.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USIC.L and CSH2.L in my portfolio?

USIC.L and CSH2.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USIC.L or CSH2.L?

On fees, CSH2.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USIC.L or CSH2.L?

CSH2.L is cheaper with a 0.10% expense ratio, compared with 0.14% for USIC.L.

What is the main difference between USIC.L and CSH2.L?

USIC.L is categorized as Corporate Bonds, while CSH2.L is Money Market. USIC.L tracks Bloomberg US Corp Bond TR USD, while CSH2.L tracks SONIA Compounded (GBP Hedged). Their fees differ too: 0.14% for USIC.L and 0.10% for CSH2.L.