^XNDX vs. NFTY

Last updated Jun 5, 2026

^XNDX (NASDAQ 100 Total Return Index) is an index, while NFTY (First Trust India NIFTY 50 Equal Weight ETF) is Asia Pacific Equities fund tracking the NIFTY 50 Equal Weight Index. Over the past 10 years, ^XNDX returned 22.09%/yr vs 8.17%/yr for NFTY. At a 0.31 correlation, their price movements are largely independent.

Performance

^XNDX vs. NFTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NASDAQ 100 Total Return Index (^XNDX) and First Trust India NIFTY 50 Equal Weight ETF (NFTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^XNDX achieves a 20.78% return, which is significantly higher than NFTY's -8.94% return. Over the past 10 years, ^XNDX has outperformed NFTY with an annualized return of 22.09%, while NFTY has yielded a comparatively lower 8.17% annualized return.

^XNDX

• 1D: -0.52%
• 1M: 8.63%
• YTD: 20.78%
• 6M: 19.27%
• 1Y: 40.94%
• 3Y*: 28.80%
• 5Y*: 18.08%
• 10Y*: 22.09%

NFTY

• 1D: 0.84%
• 1M: -1.60%
• YTD: -8.94%
• 6M: -7.97%
• 1Y: -7.39%
• 3Y*: 6.09%
• 5Y*: 4.80%
• 10Y*: 8.17%

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

^XNDX vs. NFTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^XNDX NASDAQ 100 Total Return Index	20.78%	21.02%	25.88%	55.13%	-32.38%	27.51%	48.88%	39.46%	0.04%	32.99%
NFTY First Trust India NIFTY 50 Equal Weight ETF	-8.94%	5.47%	5.18%	24.00%	-3.46%	26.83%	10.04%	0.58%	-1.51%	21.78%

Correlation

The correlation between ^XNDX and NFTY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Feb 29, 2012	0.31

The correlation between ^XNDX and NFTY shifts across timeframes, from 0.31 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

^XNDX vs. NFTY — Risk / Return Rank

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

^XNDX

^XNDX Risk / Return Rank: 85
^XNDX Sharpe Ratio Rank: 86
^XNDX Sortino Ratio Rank: 85
^XNDX Omega Ratio Rank: 83
^XNDX Calmar Ratio Rank: 86
^XNDX Martin Ratio Rank: 84

NFTY

NFTY Risk / Return Rank: 4
NFTY Sharpe Ratio Rank: 5
NFTY Sortino Ratio Rank: 4
NFTY Omega Ratio Rank: 4
NFTY Calmar Ratio Rank: 5
NFTY Martin Ratio Rank: 3

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.

^XNDX vs. NFTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Total Return Index (^XNDX) and First Trust India NIFTY 50 Equal Weight ETF (NFTY). 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.

	^XNDX	NFTY	Difference
Sharpe ratio: Return per unit of total volatility	2.56	-0.50	+3.06
Sortino ratio: Return per unit of downside risk	3.36	-0.66	+4.02
Omega ratio: Gain probability vs. loss probability	1.44	0.93	+0.51
Calmar ratio: Return relative to maximum drawdown	3.47	-0.46	+3.93
Martin ratio: Return relative to average drawdown	13.43	-1.20	+14.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^XNDX vs. NFTY - Sharpe Ratio Comparison

The current ^XNDX Sharpe Ratio is 2.56, which is higher than the NFTY Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of ^XNDX and NFTY, 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

	^XNDX	NFTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.56	-0.50	+3.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.28	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	0.40	+0.59
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.28	+0.47

Drawdowns

^XNDX vs. NFTY - Drawdown Comparison

The maximum ^XNDX drawdown since its inception was -53.42%, which is greater than NFTY's maximum drawdown of -47.67%. Use the drawdown chart below to compare losses from any high point for ^XNDX and NFTY.

Drawdown Indicators

	^XNDX	NFTY	Difference
Max Drawdown Largest peak-to-trough decline	-53.42%	-47.67%	-5.75%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-16.14%	+4.29%
Max Drawdown (3Y) Largest decline over 3 years	-22.82%	-21.55%	-1.27%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-21.55%	-13.49%
Max Drawdown (10Y) Largest decline over 10 years	-35.04%	-47.67%	+12.63%
Current Drawdown Current decline from peak	-0.80%	-16.76%	+15.96%
Average Drawdown Average peak-to-trough decline	-7.67%	-9.58%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	6.16%	-3.10%

Volatility

^XNDX vs. NFTY - Volatility Comparison

NASDAQ 100 Total Return Index (^XNDX) and First Trust India NIFTY 50 Equal Weight ETF (NFTY) have volatilities of 4.54% and 4.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^XNDX	NFTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	4.59%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	12.17%	12.58%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.08%	14.73%	+1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.59%	17.38%	+5.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.52%	20.71%	+1.81%

Frequently Asked Questions

Can I hold both ^XNDX and NFTY in my portfolio?

^XNDX and NFTY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^XNDX or NFTY?

NFTY has higher volatility (4.59%) compared to ^XNDX (4.54%). In terms of maximum drawdown, ^XNDX dropped -53.42% vs NFTY's -47.67%.

Which has better risk-adjusted returns?

^XNDX currently has the higher Sharpe Ratio (2.56 vs -0.50), 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.