^IBEX vs. ^NDX

Last updated Jun 4, 2026

^IBEX (IBEX 35 Index) and ^NDX (NASDAQ 100 Index) are both indexes. Over the past 10 years, ^IBEX returned 7.52%/yr vs 20.84%/yr for ^NDX. At a 0.30 correlation, their price movements are largely independent.

Performance

^IBEX vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in IBEX 35 Index (^IBEX) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

^IBEX is traded in EUR, while ^NDX is traded in USD. To make them comparable, the ^NDX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^IBEX achieves a 5.02% return, which is significantly lower than ^NDX's 22.53% return. Over the past 10 years, ^IBEX has underperformed ^NDX with an annualized return of 7.52%, while ^NDX has yielded a comparatively higher 20.84% annualized return.

^IBEX

• 1D: -0.53%
• 1M: 4.72%
• YTD: 5.02%
• 6M: 9.59%
• 1Y: 28.65%
• 3Y*: 24.95%
• 5Y*: 14.87%
• 10Y*: 7.52%

^NDX

• 1D: -0.08%
• 1M: 11.35%
• YTD: 22.53%
• 6M: 20.04%
• 1Y: 38.31%
• 3Y*: 24.69%
• 5Y*: 18.40%
• 10Y*: 20.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^IBEX vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^IBEX IBEX 35 Index	5.02%	49.27%	14.78%	22.76%	-5.56%	7.93%	-15.45%	11.82%	-14.97%	7.40%
^NDX NASDAQ 100 Index	22.53%	5.91%	33.12%	49.19%	-28.81%	36.10%	35.42%	41.08%	3.61%	15.35%

Correlation

The correlation between ^IBEX and ^NDX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Aug 27, 2007	0.30

The correlation between ^IBEX and ^NDX shifts across timeframes, from 0.16 (3 years) to 0.31 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

^IBEX vs. ^NDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^IBEX

^IBEX Risk / Return Rank: 62
^IBEX Sharpe Ratio Rank: 59
^IBEX Sortino Ratio Rank: 60
^IBEX Omega Ratio Rank: 62
^IBEX Calmar Ratio Rank: 67
^IBEX Martin Ratio Rank: 62

^NDX

^NDX Risk / Return Rank: 81
^NDX Sharpe Ratio Rank: 83
^NDX Sortino Ratio Rank: 82
^NDX Omega Ratio Rank: 81
^NDX Calmar Ratio Rank: 81
^NDX Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^IBEX vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IBEX 35 Index (^IBEX) and NASDAQ 100 Index (^NDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^IBEX	^NDX	Difference
Sharpe ratio Return per unit of total volatility	1.76	2.36	-0.60
Sortino ratio Return per unit of downside risk	2.47	3.02	-0.55
Omega ratio Gain probability vs. loss probability	1.32	1.41	-0.09
Calmar ratio Return relative to maximum drawdown	2.89	3.44	-0.55
Martin ratio Return relative to average drawdown	9.61	10.74	-1.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^IBEX vs. ^NDX - Sharpe Ratio Comparison

The current ^IBEX Sharpe Ratio is 1.76, which is comparable to the ^NDX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of ^IBEX and ^NDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^IBEX	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	2.36	-0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.83	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.92	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.73	-0.48

Drawdowns

^IBEX vs. ^NDX - Drawdown Comparison

The maximum ^IBEX drawdown since its inception was -62.65%, which is greater than ^NDX's maximum drawdown of -46.44%. Use the drawdown chart below to compare losses from any high point for ^IBEX and ^NDX.

Drawdown Indicators

	^IBEX	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-62.65%	-46.44%	-16.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-11.19%	+1.55%
Max Drawdown (3Y) Largest decline over 3 years	-12.60%	-27.30%	+14.70%
Max Drawdown (5Y) Largest decline over 5 years	-21.76%	-31.53%	+9.77%
Max Drawdown (10Y) Largest decline over 10 years	-45.16%	-31.53%	-13.63%
Current Drawdown Current decline from peak	-1.73%	-0.08%	-1.65%
Average Drawdown Average peak-to-trough decline	-28.32%	-8.00%	-20.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	3.58%	-0.68%

Volatility

^IBEX vs. ^NDX - Volatility Comparison

IBEX 35 Index (^IBEX) has a higher volatility of 5.03% compared to NASDAQ 100 Index (^NDX) at 3.78%. This indicates that ^IBEX's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^IBEX	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	3.78%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	13.16%	11.58%	+1.58%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	16.34%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	22.25%	-5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.50%	22.84%	-4.34%

Frequently Asked Questions

Can I hold both ^IBEX and ^NDX in my portfolio?

^IBEX and ^NDX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^IBEX or ^NDX?

^IBEX has higher volatility (5.03%) compared to ^NDX (3.78%). In terms of maximum drawdown, ^IBEX dropped -62.65% vs ^NDX's -46.44%.

Which has better risk-adjusted returns?

^NDX currently has the higher Sharpe Ratio (2.36 vs 1.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.