OriginaveCSP1 vs IWFQ: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
Every figure here is in pounds — what you'd actually pocket buying on the London Stock Exchange. Fund fact sheets usually headline returns in US dollars, which can look very different in years when the pound moves against the dollar. Here's the full story, year by year.
CSP1
- CSP1iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index
- SSACiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
VWRPVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index- VHVGVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SWDAiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- CNX1iShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- VHYLVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IWFViShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IWFMiShares Edge MSCI World Momentum Factor UCITS ETF (Acc)tracks the MSCI World Momentum Index
- IWFQiShares Edge MSCI World Quality Factor UCITS ETF (Acc)tracks the MSCI World Sector Neutral Quality Index
IWFQ
- CSP1iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index
- SSACiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
- VWRPVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index
- VHVGVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SWDAiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- CNX1iShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- VHYLVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IWFViShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IWFMiShares Edge MSCI World Momentum Factor UCITS ETF (Acc)tracks the MSCI World Momentum Index
- IWFQiShares Edge MSCI World Quality Factor UCITS ETF (Acc)tracks the MSCI World Sector Neutral Quality Index
CSP1 tracks the S&P 500 IndexIWFQ tracks the MSCI World Sector Neutral Quality Index
What did the last 10 years do to £10,000?
You invest £10,000 at the start of the window and touch nothing — dividends reinvested, the running year not counted.
CSP1 vs IWFQ, year by year
Calendar-year total returns (dividends included) side by side, and who took the crown each year. A dash means the fund did not exist yet.
| Year | CSP1 | IWFQ | Winner |
|---|---|---|---|
| 2026 (so far) | +14.27% | +13.47% | CSP1 |
| 2025 | +9.37% | +7.40% | CSP1 |
| 2024 | +27.35% | +18.93% | CSP1 |
| 2023 | +19.79% | +19.15% | CSP1 |
| 2022 | -9.05% | -9.55% | CSP1 |
| 2021 | +31.07% | +25.17% | CSP1 |
| 2020 | +13.65% | +10.93% | CSP1 |
| 2019 | +26.42% | +25.86% | CSP1 |
| 2018 | +0.01% | -2.34% | CSP1 |
| 2017 | +10.83% | +12.47% | IWFQ |
| 2016 | +34.10% | +26.01% | CSP1 |
| 2015 | +5.78% | +7.50% | IWFQ |
| 2014 | +22.03% | -33.59% | CSP1 |
| 2013 | +31.40% | — | — |
| 2012 | +7.14% | — | — |
| 2011 | +1.73% | — | — |
| 2010 | -26.08% | — | — |
CSP1 vs IWFQ in plain words
CSP1 tracks the S&P 500 Index while IWFQ follows the MSCI World Sector Neutral Quality Index, so they own different slices of the market and their years can look very different. CSP1 charges 0.07% a year in running costs and IWFQ charges 0.25% — CSP1 is the cheaper fund to hold.
Both are accumulating funds: dividends are reinvested inside the fund and show up as a higher share price, never as a payout. Across the 13 calendar years both funds were trading, CSP1 finished the year ahead 11 times and IWFQ 2 times. £10,000 invested at the start of 2016 was worth £42,477 in CSP1 versus £33,297 in IWFQ by the end of 2025, dividends reinvested.
CSPX is the London (USD) listing and SXR8 the Xetra (EUR) line of the same fund, ISIN IE00B5BMR087 — CSP1 is its GBP line on the London Stock Exchange.
IWQU is the London (USD) listing and IS3Q the Xetra (EUR) line of the same fund, ISIN IE00BP3QZ601 — IWFQ is its GBP line on the London Stock Exchange.
Fund facts: CSP1 vs IWFQ
| Fact | CSP1 | IWFQ |
|---|---|---|
| Fund | iShares Core S&P 500 UCITS ETF USD (Acc) | iShares Edge MSCI World Quality Factor UCITS ETF (Acc) |
| Tracks | S&P 500 Index | MSCI World Sector Neutral Quality Index |
| Yearly cost (TER) | 0.07% | 0.25% |
| Dividends | Accumulating — dividends reinvested | Accumulating — dividends reinvested |
| Launched | 19 May 2010 | 3 Oct 2014 |
| ISIN | IE00B5BMR087 | IE00BP3QZ601 |
| £10,000 invested | What £10,000 in CSP1 became | What £10,000 in IWFQ became |
How bumpy the ride was: CSP1 vs IWFQ
These head-to-head figures use only the 3,031 trading days both funds were listed: 6 Oct 2014 to 7 Oct 2026, roughly 12.0 years.
IWFQ swung more than CSP1: annualised volatility of 15.6% for CSP1 against 18.2% for IWFQ, with CSP1 moving 1% or more on 23.6% of trading days and IWFQ on 20.2%. CSP1's worst day was -6.41% on 12 Mar 2020; IWFQ's was -38.24% on 7 Oct 2014.
IWFQ had the deeper drawdown: it fell -40.49% from its peak on 6 Oct 2014 to a low on 16 Oct 2014, then closed back above the old peak on 28 Nov 2017, 37 months after the low; CSP1 fell -25.48% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 24 Aug 2020, 5 months after the low.
Day to day the two often go their own way: the correlation of their daily returns is 0.78, and they closed in opposite directions on 8.2% of the 3,030 days measured. The widest single-day gap came on 7 Oct 2014, when CSP1 moved -1.45% and IWFQ -38.24%.
| Measure | CSP1 | IWFQ |
|---|---|---|
| Annualised volatility | 15.6% | 18.2% |
| Worst day | -6.41% on 12 Mar 2020 | -38.24% on 7 Oct 2014 |
| Best day | +6.29% on 24 Mar 2020 | +5.53% on 24 Mar 2020 |
| Days moving 1% or more | 23.6% of days | 20.2% of days |
| Deepest drawdown | -25.48% | -40.49% |
| Peak to trough | 19 Feb 2020 → 23 Mar 2020 | 6 Oct 2014 → 16 Oct 2014 |
| Back above the old peak | 24 Aug 2020 · 5 months | 28 Nov 2017 · 37 months |
Years CSP1 and IWFQ parted ways
In 4 of the 12 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2014: CSP1 returned +22.03% and IWFQ -33.59%, a gap of 55.6 points. They rose together in 9 years, fell together in 1 year and went opposite ways in 2 years.
| Year | CSP1 | IWFQ | Gap (CSP1 − IWFQ) |
|---|---|---|---|
| 2024 | +27.35% | +18.93% | +8.4 pts |
| 2021 | +31.07% | +25.17% | +5.9 pts |
| 2016 | +34.10% | +26.01% | +8.1 pts |
| 2014 | +22.03% | -33.59% | +55.6 pts |
How often CSP1 beat IWFQ over any 12 months
Across the 132 rolling 12-month windows since October 2014, measured month-end to month-end, CSP1 finished ahead in 78.8% of them (104) and IWFQ in 21.2% (28).
£200 a month into each, 2015–2025
Putting £200 into each fund at the start of every month from January 2015 to December 2025 (132 payments, £26,400 in total) would have grown to £62,574 in CSP1 and £52,918 in IWFQ, leaving CSP1 £9,656 ahead.
| Outcome | CSP1 | IWFQ |
|---|---|---|
| Paid in | £26,400 | £26,400 |
| Value at the end of 2025 | £62,574 | £52,918 |
| Gain on the money paid in | +£36,174 | +£26,518 |
| Gain in % | +137.02% | +100.45% |
Each payment rides the return of the month it lands in, dividends reinvested. Only calendar years with all twelve months of data for both funds count, so the plan may start later than the shared history.
Frequently asked
Is CSP1 or IWFQ better?
Across the 13 calendar years both funds were trading, CSP1 finished the year ahead 11 times and IWFQ 2 times. £10,000 invested at the start of 2016 was worth £42,477 in CSP1 versus £33,297 in IWFQ by the end of 2025, dividends reinvested. Past returns don't promise future ones — but this is what actually happened.
What is the difference between CSP1 and IWFQ?
CSP1 tracks the S&P 500 Index while IWFQ follows the MSCI World Sector Neutral Quality Index, so they own different slices of the market and their years can look very different. CSP1 charges 0.07% a year in running costs and IWFQ charges 0.25% — CSP1 is the cheaper fund to hold. Both are accumulating funds: dividends are reinvested inside the fund and show up as a higher share price, never as a payout.
Which is more volatile, CSP1 or IWFQ?
IWFQ swung more than CSP1: annualised volatility of 15.6% for CSP1 against 18.2% for IWFQ, with CSP1 moving 1% or more on 23.6% of trading days and IWFQ on 20.2%. CSP1's worst day was -6.41% on 12 Mar 2020; IWFQ's was -38.24% on 7 Oct 2014.
Which had the deeper drawdown, CSP1 or IWFQ?
IWFQ had the deeper drawdown: it fell -40.49% from its peak on 6 Oct 2014 to a low on 16 Oct 2014, then closed back above the old peak on 28 Nov 2017, 37 months after the low; CSP1 fell -25.48% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 24 Aug 2020, 5 months after the low.
How often did CSP1 beat IWFQ over a 12-month period?
Across the 132 rolling 12-month windows since October 2014, measured month-end to month-end, CSP1 finished ahead in 78.8% of them (104) and IWFQ in 21.2% (28).
What would £10,000 in CSP1 have become?
£10,000 invested in CSP1 at the start of 2016 grew to £42,477 by the end of 2025, with dividends reinvested — an average of 15.6% per year.
Related comparisons
More head-to-heads featuring CSP1 or IWFQ.
Source: Yahoo Finance daily adjusted closes for the GBP trading lines on the London Stock Exchange, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.