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CSPX

Acc

iShares Core S&P 500 UCITS ETF (Accumulating)

0.07%

TER per year

Issuer

BlackRock (iShares)

Index

S&P 500

AUM

~€80B

Domicile

Ireland

Currency

USD

Replication

physical

ISIN

IE00B5BMR087

Since

2010

Etfora Verdict

The right choice if you specifically want US large-cap equity exposure. The same underlying holdings as VOO at almost identical cost. For investors who want global diversification, VWCE or IWDA includes these same companies alongside international equities.

What Is CSPX?

CSPX is the UCITS equivalent of VOO — the 500 largest US companies by market cap, accumulating. One of the largest and most liquid ETFs available to European investors. At 0.07% TER, it's among the cheapest equity ETFs in the UCITS universe.

The S&P 500 Index

The S&P 500 tracks 500 of the largest US-listed companies by float-adjusted market cap. Roughly 30% is technology (Apple, Microsoft, Nvidia, Meta, Alphabet). The index is reconstituted quarterly. Despite being '500 companies,' the top 10 stocks represent ~35% of the index.

US equivalent blocked in Europe

VOO (Vanguard) / IVV (iShares)

European investors can't access VOO due to PRIIPs regulations. CSPX tracks the same S&P 500 index at an identical TER, benefits from Ireland's 15% US dividend withholding treaty, and accumulates dividends — making it functionally superior for EU-based long-term investors.

Why it works for European investors

  • UCITS compliant — legal in all EU countries, unlike VOO
  • Ireland domicile captures the 15% US withholding treaty vs 30% elsewhere
  • 0.07% TER — among the cheapest equity ETFs available in Europe
  • Accumulating — no annual dividend tax in most European countries
  • Massive AUM (€80B+) means excellent liquidity and tight spreads

Things to know

  • US equities only — heavy concentration risk in a single country and single currency
  • USD-denominated — check your broker's FX fee for EUR→USD conversion
  • Top-heavy: Apple, Microsoft, Nvidia, Amazon, Alphabet represent ~25% of the fund alone
  • A sister distributing version (VUSA by Vanguard, IDUS by iShares) exists if you need dividends

Tax Notes by Country

DE

Qualifies for 30% Teilfreistellung. S&P 500 ETFs historically perform well — Teilfreistellung adds real value.

BE

0.12% TOB as an accumulating Irish-domiciled ETF.

Not tax advice. Verify with a local tax adviser for your specific situation.

Available On

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Alternatives to Consider

VUSAVanguard S&P 500 UCITS ETF (Distributing)0.07% TER

Same S&P 500 index, same cost. Distributing — pays quarterly dividends.

VWCEVanguard FTSE All-World Acc0.22% TER

Global not US-only. Includes ~3,200 non-US stocks alongside S&P 500 holdings.

Find the right broker for CSPX

Check which brokers offer CSPX in your country and at what cost.

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Data based on publicly available information. TER and AUM figures are approximate. Verify current fund data at the issuer's website before investing.