OriginaveCSP1 vs VHVG: 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
VHVG
- 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 IndexVHVG tracks the FTSE Developed World Index
What did the last 6 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. Both funds are measured over the same 6 full years (2020–2025) — the longest stretch both were trading.
CSP1 vs VHVG, 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 | VHVG | Winner |
|---|---|---|---|
| 2026 (so far) | +14.27% | +14.90% | VHVG |
| 2025 | +9.37% | +13.85% | VHVG |
| 2024 | +27.35% | +19.99% | CSP1 |
| 2023 | +19.79% | +17.54% | CSP1 |
| 2022 | -9.05% | -8.16% | VHVG |
| 2021 | +31.07% | +22.64% | CSP1 |
| 2020 | +13.65% | +12.56% | CSP1 |
| 2019 | +26.42% | -17.91% | CSP1 |
| 2018 | +0.01% | — | — |
| 2017 | +10.83% | — | — |
| 2016 | +34.10% | — | — |
| 2015 | +5.78% | — | — |
| 2014 | +22.03% | — | — |
| 2013 | +31.40% | — | — |
| 2012 | +7.14% | — | — |
| 2011 | +1.73% | — | — |
| 2010 | -26.08% | — | — |
CSP1 vs VHVG in plain words
CSP1 tracks the S&P 500 Index while VHVG follows the FTSE Developed 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 VHVG charges 0.12% — 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 8 calendar years both funds were trading, CSP1 finished the year ahead 5 times and VHVG 3 times. £10,000 invested at the start of 2020 was worth £22,605 in CSP1 versus £20,355 in VHVG 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.
VHVE is the London (USD) listing and VGVF the Xetra (EUR) line of the same fund, ISIN IE00BK5BQV03 — VHVG is its GBP line on the London Stock Exchange.
Fund facts: CSP1 vs VHVG
| Fact | CSP1 | VHVG |
|---|---|---|
| Fund | iShares Core S&P 500 UCITS ETF USD (Acc) | Vanguard FTSE Developed World UCITS ETF (Acc) |
| Tracks | S&P 500 Index | FTSE Developed World Index |
| Yearly cost (TER) | 0.07% | 0.12% |
| Dividends | Accumulating — dividends reinvested | Accumulating — dividends reinvested |
| Launched | 19 May 2010 | 24 Sept 2019 |
| ISIN | IE00B5BMR087 | IE00BK5BQV03 |
| £10,000 invested | What £10,000 in CSP1 became | What £10,000 in VHVG became |
How bumpy the ride was: CSP1 vs VHVG
These head-to-head figures use only the 1,775 trading days both funds were listed: 24 Sept 2019 to 7 Oct 2026, roughly 7.0 years.
VHVG swung more than CSP1: annualised volatility of 16.0% for CSP1 against 16.6% for VHVG, with CSP1 moving 1% or more on 23.5% of trading days and VHVG on 20.6%. CSP1's worst day was -6.41% on 12 Mar 2020; VHVG's was -19.26% on 26 Sept 2019.
VHVG had the deeper drawdown: it fell -35.32% from its peak on 25 Sept 2019 to a low on 23 Mar 2020, then closed back above the old peak on 13 Apr 2021, 12 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 usually move together: the correlation of their daily returns is 0.88, and they closed in opposite directions on 7.6% of the 1,774 days measured. The widest single-day gap came on 26 Sept 2019, when CSP1 moved -0.09% and VHVG -19.26%.
| Measure | CSP1 | VHVG |
|---|---|---|
| Annualised volatility | 16.0% | 16.6% |
| Worst day | -6.41% on 12 Mar 2020 | -19.26% on 26 Sept 2019 |
| Best day | +6.29% on 24 Mar 2020 | +6.18% on 24 Mar 2020 |
| Days moving 1% or more | 23.5% of days | 20.6% of days |
| Deepest drawdown | -25.48% | -35.32% |
| Peak to trough | 19 Feb 2020 → 23 Mar 2020 | 25 Sept 2019 → 23 Mar 2020 |
| Back above the old peak | 24 Aug 2020 · 5 months | 13 Apr 2021 · 12 months |
Years CSP1 and VHVG parted ways
In 3 of the 7 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2019: CSP1 returned +26.42% and VHVG -17.91%, a gap of 44.3 points. They rose together in 5 years, fell together in 1 year and went opposite ways in 1 year.
| Year | CSP1 | VHVG | Gap (CSP1 − VHVG) |
|---|---|---|---|
| 2024 | +27.35% | +19.99% | +7.4 pts |
| 2021 | +31.07% | +22.64% | +8.4 pts |
| 2019 | +26.42% | -17.91% | +44.3 pts |
How often CSP1 beat VHVG over any 12 months
Across the 73 rolling 12-month windows since September 2019, measured month-end to month-end, CSP1 finished ahead in 63.0% of them (46) and VHVG in 37.0% (27).
£200 a month into each, 2020–2025
Putting £200 into each fund at the start of every month from January 2020 to December 2025 (72 payments, £14,400 in total) would have grown to £22,831 in CSP1 and £21,951 in VHVG, leaving CSP1 £880 ahead.
| Outcome | CSP1 | VHVG |
|---|---|---|
| Paid in | £14,400 | £14,400 |
| Value at the end of 2025 | £22,831 | £21,951 |
| Gain on the money paid in | +£8,431 | +£7,551 |
| Gain in % | +58.55% | +52.44% |
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 VHVG better?
Across the 8 calendar years both funds were trading, CSP1 finished the year ahead 5 times and VHVG 3 times. £10,000 invested at the start of 2020 was worth £22,605 in CSP1 versus £20,355 in VHVG 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 VHVG?
CSP1 tracks the S&P 500 Index while VHVG follows the FTSE Developed 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 VHVG charges 0.12% — 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 VHVG?
VHVG swung more than CSP1: annualised volatility of 16.0% for CSP1 against 16.6% for VHVG, with CSP1 moving 1% or more on 23.5% of trading days and VHVG on 20.6%. CSP1's worst day was -6.41% on 12 Mar 2020; VHVG's was -19.26% on 26 Sept 2019.
Which had the deeper drawdown, CSP1 or VHVG?
VHVG had the deeper drawdown: it fell -35.32% from its peak on 25 Sept 2019 to a low on 23 Mar 2020, then closed back above the old peak on 13 Apr 2021, 12 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 VHVG over a 12-month period?
Across the 73 rolling 12-month windows since September 2019, measured month-end to month-end, CSP1 finished ahead in 63.0% of them (46) and VHVG in 37.0% (27).
What would £10,000 in CSP1 have become?
£10,000 invested in CSP1 at the start of 2020 grew to £22,605 by the end of 2025, with dividends reinvested — an average of 14.6% per year.
Related comparisons
More head-to-heads featuring CSP1 or VHVG.
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.