CSPX Review — S&P 500 ETF on Revolut (2026 Guide)

If you're investing through Revolut and want exposure to the S&P 500, CSPX (iShares Core S&P 500 UCITS ETF) is likely the first ticker you'll encounter. It's one of the largest, most liquid, and cheapest S&P 500 ETFs available to European investors — and it's fully accessible on Revolut's trading platform.

In this review, we'll break down everything you need to know about CSPX: what it holds, how much it costs, how it has performed, and how it compares to alternatives like VOO and VUAA. We'll also walk you through the exact steps to buy CSPX on Revolut.

Quick Answer

CSPX (iShares Core S&P 500 UCITS ETF, ISIN IE00B5BMR087) is an Irish-domiciled, accumulating S&P 500 tracker with a 0.07% TER and ~$95B AUM, fully available on Revolut with fractional shares and recurring buys. Its Irish domicile cuts US dividend withholding from 30% to 15%, making it structurally more tax-efficient for EU investors than US-domiciled VOO — which MiFID II blocks for EU retail anyway. Versus VUAA (also Irish, accumulating, same 0.07% TER), the two are effectively interchangeable; CSPX has roughly twice the AUM and slightly deeper liquidity, while VUAA's lower share price helps on brokers without fractional shares. On Revolut, where fractional shares apply, either works equally well.

What Is CSPX?

CSPX is the ticker for the iShares Core S&P 500 UCITS ETF (Acc), managed by BlackRock — the world's largest asset manager. It tracks the S&P 500 index, which includes the 500 largest publicly traded companies in the United States.

Key Facts at a Glance

Why Ireland Matters

CSPX is domiciled in Ireland, which is important for tax efficiency. Ireland has a tax treaty with the US that reduces withholding tax on dividends from 30% to 15%. Since CSPX is accumulating, those dividends are reinvested after the 15% withholding — you never see them, but you benefit from compounding.

For US-domiciled ETFs like VOO, European investors face a 30% withholding tax with no easy way to reclaim it. This makes Ireland-domiciled ETFs structurally superior for non-US investors.

CSPX Performance

The S&P 500 has been one of the best-performing major indices over the past decades. CSPX, as a physical replication fund, closely mirrors this performance minus the tiny 0.07% fee.

Historical Returns (as of March 2026)

The small gap between CSPX and the index represents the TER plus tracking difference. At 0.07%, CSPX is one of the tightest trackers available.

Top 10 Holdings (Q1 2026)

1. Apple (AAPL) — ~7.1%
2. Microsoft (MSFT) — ~6.8%
3. NVIDIA (NVDA) — ~6.2%
4. Amazon (AMZN) — ~3.9%
5. Alphabet (GOOGL + GOOG) — ~3.8%
6. Meta Platforms (META) — ~2.7%
7. Berkshire Hathaway (BRK.B) — ~1.8%
8. Broadcom (AVGO) — ~1.7%
9. Tesla (TSLA) — ~1.5%
10. JPMorgan Chase (JPM) — ~1.4%

The top 10 holdings represent roughly 37% of the fund, reflecting the current concentration in mega-cap tech stocks.

How to Buy CSPX on Revolut — Step by Step

Revolut makes buying ETFs straightforward, even for beginners. Here's how:

Step 1: Upgrade Your Revolut Plan (If Needed)

Revolut offers stock and ETF trading on all plans, but the number of free trades varies:

• Standard (free): 1 free trade per month, then £1/$1/€1 per trade
• Plus/Premium: 3 free trades per month
• Metal/Ultra: 5+ free trades per month

For occasional DCA (dollar-cost averaging) into CSPX, even the free plan works fine.

Step 2: Enable the Investing Feature

1. Open the Revolut app
2. Tap the Invest tab at the bottom
3. Complete the suitability questionnaire (required by regulation)
4. Verify your identity if not already done

Step 3: Find CSPX

1. In the Invest tab, tap the Search icon
2. Type "CSPX" or "iShares Core S&P 500"
3. Select CSPX — look for the LSE (London Stock Exchange) listing

Step 4: Place Your Order

1. Tap Buy
2. Choose your amount — Revolut supports fractional shares, so you can invest any amount (even €10)
3. Select Market order (executes immediately) or Limit order (executes at your chosen price)
4. Review and confirm

Step 5: Set Up Recurring Investment (Optional)

Revolut supports automatic recurring investments — perfect for DCA:

1. On the CSPX page, look for "Recurring buy"
2. Set your amount and frequency (weekly, biweekly, monthly)
3. This automates your S&P 500 investing with zero effort

Trading Hours

CSPX trades on the London Stock Exchange, so it's available during LSE hours: Monday–Friday, 8:00–16:30 GMT. Revolut may allow you to place orders outside these hours, which will execute when the market opens.

CSPX vs VOO vs VUAA — Full Comparison

This is the question every European investor asks. Here's how the three most popular S&P 500 ETFs stack up:

The Verdict for European Investors

VOO is off the table. Since MiFID II regulations (2018), European retail investors cannot directly buy US-domiciled ETFs. VOO is only accessible through options or professional investor accounts.

CSPX vs VUAA is the real comparison. Both are:

• Ireland-domiciled (same tax treatment)
• Accumulating (same compounding benefit)
• Tracking the same index (S&P 500)
• Charging the same TER (0.07%)

The practical differences:

• CSPX has a higher share price ($570) vs VUAA ($105), but with fractional shares on Revolut this barely matters
• CSPX has larger AUM ($95B vs $40B), meaning marginally better liquidity
• VUAA is listed on more European exchanges (Xetra, Borsa Italiana, etc.)

Bottom line: For Revolut investors, either works perfectly. CSPX is the more "established" choice with deeper liquidity, while VUAA offers a lower entry point for brokers without fractional shares. For a side-by-side on TER, tracking difference and liquidity, see our CSPX vs VUAA comparison.

Costs Beyond TER

The 0.07% TER isn't the whole picture. Here are the real costs of holding CSPX on Revolut:

Revolut Trading Fees

• Per-trade commission: €0–€1 depending on your plan
• FX fee: If your account is in EUR and you're buying a USD-denominated ETF, Revolut charges 0.25% FX markup (or less on premium plans)
• Custody fee: None — Revolut doesn't charge for holding

Spread

The bid-ask spread on CSPX is typically very tight (0.01–0.03%) due to its massive liquidity. You'll barely notice it.

Tax Implications

• Capital gains tax: Varies by country (19% in Poland, varies elsewhere in EU)
• No dividend tax event: Since CSPX is accumulating, you won't receive dividends — so no annual dividend tax to worry about

Who Should Buy CSPX?

CSPX is ideal if you:

• ✅ Want broad US stock market exposure
• ✅ Believe in long-term US economic growth
• ✅ Prefer accumulating funds (no dividend hassle)
• ✅ Want low fees and high liquidity
• ✅ Are investing through a European broker like Revolut

CSPX may not be ideal if you:

• ❌ Want global diversification (consider VWCE instead)
• ❌ Need dividend income (consider distributing ETFs)
• ❌ Are concerned about US market concentration

Tracking Your CSPX Investment with Freenance

Once you've bought CSPX on Revolut, you'll want to track how it fits into your overall financial picture. Freenance connects directly to Revolut and automatically imports your CSPX holdings. You can see:

• How your S&P 500 position contributes to your total net worth
• Your portfolio allocation across brokers and asset classes
• Your Financial Freedom Runway — how long you could live without working based on all your assets, including CSPX

If you use multiple brokers (e.g., Revolut for ETFs, XTB for Polish stocks), Freenance aggregates everything in one dashboard.

Conclusion

CSPX remains the gold standard S&P 500 ETF for European investors in 2026. With a rock-bottom 0.07% TER, massive liquidity, tax-efficient Irish domicile, and easy availability on Revolut, it's hard to go wrong.

Whether you're starting with €50/month or investing thousands, CSPX on Revolut gives you access to America's 500 largest companies with minimal friction. Pair it with a global ETF like VWCE for diversification, set up recurring buys, and let compounding do the heavy lifting.

Key takeaway: For most European investors on Revolut, CSPX is the simplest, cheapest way to invest in the S&P 500. Start small, stay consistent, and track everything with tools like Freenance to see the bigger picture.

Related Articles

• VUAA vs CSPX — Which S&P 500 ETF to Choose?
• S&P 500 ETFs in Poland – How to Invest in the World's Biggest Index
• DCA S&P 500 Investment Strategy — How to Invest Regularly in 2026
• VWCE vs IWDA vs SWDA — Best World ETFs Compared (2026)
• Best Brokerage Accounts 2026 — Top Online Brokers Compared

FAQ

What is CSPX and why is it the standard S&P 500 ETF for European investors?

CSPX is the iShares Core S&P 500 UCITS ETF (Acc), ISIN IE00B5BMR087, an Irish-domiciled accumulating tracker of the S&P 500 with a 0.07% TER and roughly USD 95B in AUM. Because it is UCITS-compliant and publishes a PRIIPs KID, EU retail brokers can offer it — unlike US-domiciled SPY or VOO, which MiFID II blocks for retail clients in the EU.

How does CSPX's Irish domicile affect dividend tax efficiency?

Ireland's tax treaty with the US reduces withholding on dividends from US stocks held inside the fund from 30% to 15%. Because CSPX is accumulating, those net dividends are reinvested inside the fund and compound at the fund level — you never receive a payout, so there is no separate dividend-tax event in your home country during the hold.

What are the practical limitations of buying CSPX on Revolut specifically?

Revolut supports CSPX with fractional shares and recurring buys, but free-trade allowances are capped (1 per month on Standard, 3 on Plus/Premium, 5+ on Metal/Ultra) with EUR 1 commission beyond that. EUR-funded accounts incur a 0.25% FX markup on the USD-denominated trade. CSPX held at Revolut sits in a regular brokerage shell — Revolut does not offer IKE or IKZE wrappers in Poland.

Can I hold CSPX inside a Polish IKE or IKZE?

Yes, but not on Revolut. Polish brokers like XTB, Bossa (BOŚ), mBank eMakler and DM PKO BP list CSPX inside IKE and IKZE accounts, routing the order to LSE or Xetra (on Xetra the same fund trades in EUR under the ticker SXR8). Inside IKE, gains and reinvested dividends compound free of the 19% Belka tax; IKZE offers an upfront PIT deduction and a 10% flat tax on withdrawal after the qualifying age.

CSPX vs VUAA — which one should a Revolut investor pick?

Both are Irish-domiciled, accumulating, S&P 500-tracking UCITS at the same 0.07% TER and effectively identical tax treatment. CSPX has roughly twice the AUM (USD 95B vs USD 40B) and slightly deeper liquidity; VUAA trades at a lower per-share price which used to matter for non-fractional brokers. With Revolut's fractional shares both work equally well, and CSPX is the more established choice on most European broker menus.