Confused about ETF currency

expansion

I am confused about ETF variants in local currency (GBP) compared to base currency (USD, EUR, etc.)

By example, these popular choices:
iShares Core S&P 500 : CSP1 (GBP) vs CSPX (USD)
iShares Core EURO STOXX 50: CS51 (GBP) vs CS5X (EUR)

The base currency options seem to edge out the GBP slightly but generally only beyond 3 years. I had presumed these would differ to reflect forex variation against GBP but they do not, they are virtually identical. So, these don't seem to be currency hedging, a good example of which would be: iShares MSCI Japan variants (IJPD for USD Hedged, IJPE for EUR Hedged, IJPH for GBP Hedged). These explicitly mention "Hedged" and have different (individual) ISIN while the first examples share the same ISIN despite having individual trackers.

So, what really is the difference between CSPX and CSP1? I have access to buy both and the charges are identical (TER and platform), which would you recommend?

george4064

I would recommend to UK GBP investors to buy the GBP versions of ETFs, this will save on any FX charges your broker may charge when dealing in non-GBP ETFs.

There will be little to no difference between the USD and GBP versions, the difference is on the investor than on the investment through the FX charges mentioned above.

Hope this helps.