SPY vs CSSPX: returns, risk and drawdowns compared
SPDR S&P 500 ETF Trust against iShares Core S&P 500 UCITS ETF (Acc), over the same 16 years (June 2010 to October 2026) with dividends reinvested.
Data updated October 2026
From June 2010 to October 2026, SPY returned 14.6% a year and CSSPX 14.9% a year on average, so CSSPX came out ahead by 0.3% a year. SPY was the more volatile of the two (14.2% against 13.4% a year), and the deepest falls from a month-end high were 23.9% for SPY and 17.7% for CSSPX.
The correlation of monthly returns was 0.75: they usually moved together. Over 162 rolling 3-year periods, SPY did better in 40% and CSSPX in 60%.
Both funds follow the same index, so differences come mostly from ongoing charges, tracking and how dividends are handled.
SPY trades in USD and CSSPX in EUR: each return is in its own currency, so part of the gap reflects the move of the euro against the dollar.
Side by side
| SPY | CSSPX | |
|---|---|---|
| Annual return (CAGR) | +14.6% | +14.9% |
| Total return | +838% | +880% |
| Annual volatility | 14.2% | 13.4% |
| Maximum drawdown (month-end) | −23.9% | −17.7% |
| Worst month | −12.5% | −9.9% |
| Best month | +12.7% | +11.3% |
| Positive months | 69% | 62% |
| Best year | 2013: +32.3% | 2021: +40.9% |
| Worst year | 2022: −18.2% | 2022: −14.6% |
| 1-year return | +16.6% | +22.6% |
| 5 years, a year | +12.7% | +13.5% |
| 10 years, a year | +15.4% | +14.9% |
| Trading currency | USD | EUR |
First nine rows: the same 197 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: SPY vs CSSPX
Returns by calendar year
| Year | SPY | CSSPX |
|---|---|---|
| 2025 | +17.7% | +4.3% |
| 2024 | +24.9% | +33.8% |
| 2023 | +26.2% | +22.0% |
| 2022 | −18.2% | −14.6% |
| 2021 | +28.7% | +40.9% |
| 2020 | +18.3% | +7.6% |
| 2019 | +31.2% | +34.3% |
| 2018 | −4.6% | −1.1% |
| 2017 | +21.7% | +6.7% |
| 2016 | +12.0% | +14.1% |
| 2015 | +1.2% | +12.8% |
| 2014 | +13.5% | +30.6% |
| 2013 | +32.3% | +27.1% |
| 2012 | +16.0% | +11.5% |
| 2011 | +1.9% | +4.4% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, SPY or CSSPX?
From June 2010 to October 2026, SPY returned +14.6% a year and CSSPX +14.9% a year, with dividends reinvested, each in its own trading currency (USD and EUR). Over rolling 3-year periods SPY did better in 40% of cases. Past returns do not predict future returns.
Which is riskier, SPY or CSSPX?
Over the same months annual volatility was 14.2% for SPY and 13.4% for CSSPX; the deepest fall from a month-end high was 23.9% and 17.7%, and the worst single month −12.5% and −9.9%.
How correlated are SPY and CSSPX?
The correlation of their monthly returns was 0.75: they usually moved together. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.