UTIL.L vs. CSP1.L

Last updated Jul 16, 2026

UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD, while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, UTIL.L returned 10.87%/yr vs 14.56%/yr for CSP1.L. At a 0.37 correlation, their price movements are largely independent. UTIL.L charges 0.18%/yr vs 0.07%/yr for CSP1.L.

Performance

UTIL.L vs. CSP1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Utilities UCITS ETF (UTIL.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

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

Returns By Period

In the year-to-date period, UTIL.L achieves a 19.11% return, which is significantly higher than CSP1.L's 13.29% return. Over the past 10 years, UTIL.L has underperformed CSP1.L with an annualized return of 10.87%, while CSP1.L has yielded a comparatively higher 14.56% annualized return.

UTIL.L

• 1D: -0.61%
• 1M: 3.56%
• 6M: 15.01%
• YTD: 19.11%
• 1Y: 33.13%
• 3Y*: 18.63%
• 5Y*: 12.73%
• 10Y*: 10.87%

CSP1.L

• 1D: 0.17%
• 1M: 1.55%
• 6M: 12.03%
• YTD: 13.29%
• 1Y: 23.60%
• 3Y*: 19.37%
• 5Y*: 13.81%
• 10Y*: 14.56%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	19.11%	33.98%	1.33%	13.09%	-6.77%	8.27%	11.82%	29.32%	3.36%	9.29%
CSP1.L iShares Core S&P 500 UCITS ETF	13.29%	3.67%	33.49%	22.33%	-13.74%	39.60%	7.48%	34.46%	-1.22%	6.46%

Correlation

The correlation between UTIL.L and CSP1.L is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 9, 2014	0.37

Over the past year, the correlation between UTIL.L and CSP1.L has dropped to 0.07 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

UTIL.L vs. CSP1.L - Sectors Allocation Comparison

Sectors	UTIL.L	CSP1.L
Utilities	95.3%	2.2%
Industrials	4.7%	8.4%
Basic Materials	-	1.7%
Communication Services	-	10.2%
Consumer Cyclical	-	9.6%
Consumer Defensive	-	4.5%
Energy	-	3.0%
Financial Services	-	11.8%
Healthcare	-	9.0%
Real Estate	-	1.8%
Technology	-	37.9%

Return for Risk

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

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

UTIL.L

UTIL.L Risk / Return Rank: 83
UTIL.L Sharpe Ratio Rank: 85
UTIL.L Sortino Ratio Rank: 78
UTIL.L Omega Ratio Rank: 83
UTIL.L Calmar Ratio Rank: 91
UTIL.L Martin Ratio Rank: 80

CSP1.L

CSP1.L Risk / Return Rank: 72
CSP1.L Sharpe Ratio Rank: 73
CSP1.L Sortino Ratio Rank: 71
CSP1.L Omega Ratio Rank: 73
CSP1.L Calmar Ratio Rank: 72
CSP1.L Martin Ratio Rank: 71

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.

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

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (UTIL.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.

	UTIL.L	CSP1.L	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.03	+0.15
Sortino ratio: Return per unit of downside risk	2.80	2.78	+0.02
Omega ratio: Gain probability vs. loss probability	1.39	1.37	+0.02
Calmar ratio: Return relative to maximum drawdown	4.52	3.28	+1.24
Martin ratio: Return relative to average drawdown	12.16	11.74	+0.43

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

The current UTIL.L Sharpe Ratio is 2.18, which is comparable to the CSP1.L Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of UTIL.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.

Drawdowns

UTIL.L vs. CSP1.L - Drawdown Comparison

The maximum UTIL.L drawdown since its inception was -34.59%, which is greater than CSP1.L's maximum drawdown of -32.91%. Use the drawdown chart below to compare losses from any high point for UTIL.L and CSP1.L.

Drawdown Indicators

	UTIL.L	CSP1.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-32.91%	-1.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	-7.17%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-13.05%	-22.35%	+9.30%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-22.35%	+0.23%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	-32.91%	-1.68%
Current Drawdown Current decline from peak	-0.82%	-0.04%	-0.78%
Average Drawdown Average peak-to-trough decline	-5.98%	-4.33%	-1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.01%	+0.71%

Volatility

UTIL.L vs. CSP1.L - Volatility Comparison

SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) has a higher volatility of 4.25% compared to iShares Core S&P 500 UCITS ETF (CSP1.L) at 2.77%. This indicates that UTIL.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.

Volatility by Period

	UTIL.L	CSP1.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	2.77%	+1.48%
Volatility (6M) Calculated over the trailing 6-month period	13.13%	7.90%	+5.23%
Volatility (1Y) Calculated over the trailing 1-year period	15.12%	11.60%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	20.59%	-4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.32%	18.88%	-1.56%

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

UTIL.L has a 0.18% 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%.

Dividends

UTIL.L vs. CSP1.L - Dividend Comparison

Neither UTIL.L nor CSP1.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UTIL.L and CSP1.L in my portfolio?

UTIL.L and CSP1.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UTIL.L or CSP1.L?

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.

Which ETF is cheaper, UTIL.L or CSP1.L?

CSP1.L is cheaper with a 0.07% expense ratio, compared with 0.18% for UTIL.L.

What is the main difference between UTIL.L and CSP1.L?

UTIL.L is categorized as Utilities Equities, while CSP1.L is S&P 500. UTIL.L tracks MSCI World/Utilities NR USD, while CSP1.L tracks S&P 500 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for UTIL.L and 0.07% for CSP1.L.