OriginaveCSP1 vs SWDA: 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
SWDA
- 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 IndexSWDA tracks the MSCI World 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 SWDA, 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 | SWDA | Winner |
|---|---|---|---|
| 2026 (so far) | +14.27% | +13.45% | CSP1 |
| 2025 | +9.37% | +12.64% | SWDA |
| 2024 | +27.35% | +21.11% | CSP1 |
| 2023 | +19.79% | +17.59% | CSP1 |
| 2022 | -9.05% | -8.33% | SWDA |
| 2021 | +31.07% | +23.64% | CSP1 |
| 2020 | +13.65% | +12.25% | CSP1 |
| 2019 | +26.42% | +23.03% | CSP1 |
| 2018 | +0.01% | -3.78% | CSP1 |
| 2017 | +10.83% | +11.78% | SWDA |
| 2016 | +34.10% | +29.59% | CSP1 |
| 2015 | +5.78% | +4.06% | CSP1 |
| 2014 | +22.03% | +12.58% | CSP1 |
| 2013 | +31.40% | +25.32% | CSP1 |
| 2012 | +7.14% | +9.19% | SWDA |
| 2011 | +1.73% | -6.19% | CSP1 |
| 2010 | -26.08% | +14.57% | SWDA |
| 2009 | — | -34.91% | — |
CSP1 vs SWDA in plain words
CSP1 tracks the S&P 500 Index while SWDA follows the MSCI World 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 SWDA charges 0.20% — 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 17 calendar years both funds were trading, CSP1 finished the year ahead 12 times and SWDA 5 times. £10,000 invested at the start of 2016 was worth £42,477 in CSP1 versus £34,992 in SWDA 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.
IWDA (London/Amsterdam, USD) and EUNL (Xetra, EUR) are listings of the same fund, ISIN IE00B4L5Y983 — SWDA is its GBP line on the London Stock Exchange.
Fund facts: CSP1 vs SWDA
| Fact | CSP1 | SWDA |
|---|---|---|
| Fund | iShares Core S&P 500 UCITS ETF USD (Acc) | iShares Core MSCI World UCITS ETF (Acc) |
| Tracks | S&P 500 Index | MSCI World Index |
| Yearly cost (TER) | 0.07% | 0.20% |
| Dividends | Accumulating — dividends reinvested | Accumulating — dividends reinvested |
| Launched | 19 May 2010 | 25 Sept 2009 |
| ISIN | IE00B5BMR087 | IE00B4L5Y983 |
| £10,000 invested | What £10,000 in CSP1 became | What £10,000 in SWDA became |
How bumpy the ride was: CSP1 vs SWDA
These head-to-head figures use only the 4,137 trading days both funds were listed: 19 May 2010 to 7 Oct 2026, roughly 16.4 years.
CSP1 swung more than SWDA: annualised volatility of 17.8% for CSP1 against 14.6% for SWDA, with CSP1 moving 1% or more on 21.9% of trading days and SWDA on 20.8%. CSP1's worst day was -35.99% on 15 Sept 2010; SWDA's was -7.75% on 12 Mar 2020.
CSP1 had the deeper drawdown: it fell -38.13% from its peak on 9 Aug 2010 to a low on 22 Aug 2011, then closed back above the old peak on 14 May 2013, 20 months after the low; SWDA fell -25.58% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 2 Sept 2020, 5 months after the low.
Day to day the two often go their own way: the correlation of their daily returns is 0.79, and they closed in opposite directions on 7.0% of the 4,136 days measured. The widest single-day gap came on 15 Sept 2010, when CSP1 moved -35.99% and SWDA -1.08%.
| Measure | CSP1 | SWDA |
|---|---|---|
| Annualised volatility | 17.8% | 14.6% |
| Worst day | -35.99% on 15 Sept 2010 | -7.75% on 12 Mar 2020 |
| Best day | +9.33% on 29 Dec 2010 | +6.41% on 24 Mar 2020 |
| Days moving 1% or more | 21.9% of days | 20.8% of days |
| Deepest drawdown | -38.13% | -25.58% |
| Peak to trough | 9 Aug 2010 → 22 Aug 2011 | 19 Feb 2020 → 23 Mar 2020 |
| Back above the old peak | 14 May 2013 · 20 months | 2 Sept 2020 · 5 months |
Years CSP1 and SWDA parted ways
In 6 of the 16 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2010: CSP1 returned -26.08% and SWDA +14.57%, a gap of 40.7 points. They rose together in 12 years, fell together in 1 year and went opposite ways in 3 years.
| Year | CSP1 | SWDA | Gap (CSP1 − SWDA) |
|---|---|---|---|
| 2024 | +27.35% | +21.11% | +6.2 pts |
| 2021 | +31.07% | +23.64% | +7.4 pts |
| 2014 | +22.03% | +12.58% | +9.4 pts |
| 2013 | +31.40% | +25.32% | +6.1 pts |
| 2011 | +1.73% | -6.19% | +7.9 pts |
| 2010 | -26.08% | +14.57% | -40.7 pts |
How often CSP1 beat SWDA over any 12 months
Across the 185 rolling 12-month windows since May 2010, measured month-end to month-end, CSP1 finished ahead in 78.4% of them (145) and SWDA in 21.6% (40).
£200 a month into each, 2011–2025
Putting £200 into each fund at the start of every month from January 2011 to December 2025 (180 payments, £36,000 in total) would have grown to £126,152 in CSP1 and £101,257 in SWDA, leaving CSP1 £24,895 ahead.
| Outcome | CSP1 | SWDA |
|---|---|---|
| Paid in | £36,000 | £36,000 |
| Value at the end of 2025 | £126,152 | £101,257 |
| Gain on the money paid in | +£90,152 | +£65,257 |
| Gain in % | +250.42% | +181.27% |
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 SWDA better?
Across the 17 calendar years both funds were trading, CSP1 finished the year ahead 12 times and SWDA 5 times. £10,000 invested at the start of 2016 was worth £42,477 in CSP1 versus £34,992 in SWDA 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 SWDA?
CSP1 tracks the S&P 500 Index while SWDA follows the MSCI World 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 SWDA charges 0.20% — 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 SWDA?
CSP1 swung more than SWDA: annualised volatility of 17.8% for CSP1 against 14.6% for SWDA, with CSP1 moving 1% or more on 21.9% of trading days and SWDA on 20.8%. CSP1's worst day was -35.99% on 15 Sept 2010; SWDA's was -7.75% on 12 Mar 2020.
Which had the deeper drawdown, CSP1 or SWDA?
CSP1 had the deeper drawdown: it fell -38.13% from its peak on 9 Aug 2010 to a low on 22 Aug 2011, then closed back above the old peak on 14 May 2013, 20 months after the low; SWDA fell -25.58% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 2 Sept 2020, 5 months after the low.
How often did CSP1 beat SWDA over a 12-month period?
Across the 185 rolling 12-month windows since May 2010, measured month-end to month-end, CSP1 finished ahead in 78.4% of them (145) and SWDA in 21.6% (40).
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 SWDA.
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.