This is intriguing:
|Current NAV||≈ £300||≈ £5|
|Tracking error||Up to 0.10%||Up to 0.05%|
|Trailing returns (1M)||-0.27%||-0.26%|
|Trailing returns (3M)||8.89%||8.95%|
|Trailing returns (1Y)||-14.94%||-14.74%|
(Trailing returns as of 20 Jan 2023 are from Yahoo Finance. Each site seems to report slightly different figures.)
In this ETF Stream article at the time of I500’s launch, BlackRock’s reason for launching an S&P 500 swap ETF while they already had a physical ETF on offer was “investor choice” and “performance pick-up”.
The performance pick-up seems small to date, though I500 has only been around for 2 years.
A fun interview question for prospective InvestEngine recruits might be: “How would you advise a client choosing between CSP1 and I500?” (Trick question! The correct answer is probably, “Do not give investment advice to clients.” )
But seriously though, how would you choose between the two?