BBUS.L vs. CNDX.L

Last updated Jun 5, 2026

BBUS.L (BetaBuilders US Equity UCITS USD Acc) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - BBUS.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, BBUS.L returned 13.29%/yr vs 17.61%/yr for CNDX.L. Their correlation of 0.92 suggests significant overlap in exposure. BBUS.L charges 0.04%/yr vs 0.33%/yr for CNDX.L.

Performance

BBUS.L vs. CNDX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BetaBuilders US Equity UCITS USD Acc (BBUS.L) and iShares NASDAQ 100 UCITS ETF (CNDX.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBUS.L achieves a 10.13% return, which is significantly lower than CNDX.L's 19.65% return.

BBUS.L

• 1D: 0.07%
• 1M: 4.56%
• YTD: 10.13%
• 6M: 10.79%
• 1Y: 27.37%
• 3Y*: 22.24%
• 5Y*: 13.29%
• 10Y*: —

CNDX.L

• 1D: -0.66%
• 1M: 8.52%
• YTD: 19.65%
• 6M: 19.10%
• 1Y: 40.28%
• 3Y*: 27.98%
• 5Y*: 17.61%
• 10Y*: 21.62%

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

BBUS.L vs. CNDX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BBUS.L BetaBuilders US Equity UCITS USD Acc	10.13%	17.54%	24.99%	27.63%	-19.96%	27.64%	20.13%	12.83%
CNDX.L iShares NASDAQ 100 UCITS ETF	19.65%	19.75%	26.45%	56.31%	-33.45%	27.96%	48.33%	15.17%

Correlation

The correlation between BBUS.L and CNDX.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Apr 11, 2019	0.92

The correlation between BBUS.L and CNDX.L has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

BBUS.L vs. CNDX.L - Sectors Allocation Comparison

Sectors	BBUS.L	CNDX.L
Technology	39.7%	57.3%
Communication Services	11.5%	14.5%
Financial Services	10.9%	0.2%
Consumer Cyclical	9.7%	11.6%
Healthcare	8.0%	3.8%
Industrials	7.5%	2.8%
Consumer Defensive	4.1%	6.9%
Energy	3.2%	0.5%
Utilities	2.1%	1.3%
Basic Materials	1.4%	1.1%
Real Estate	1.3%	0.1%

Return for Risk

BBUS.L vs. CNDX.L — Risk / Return Rank

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

BBUS.L

BBUS.L Risk / Return Rank: 72
BBUS.L Sharpe Ratio Rank: 74
BBUS.L Sortino Ratio Rank: 77
BBUS.L Omega Ratio Rank: 74
BBUS.L Calmar Ratio Rank: 65
BBUS.L Martin Ratio Rank: 73

CNDX.L

CNDX.L Risk / Return Rank: 75
CNDX.L Sharpe Ratio Rank: 79
CNDX.L Sortino Ratio Rank: 79
CNDX.L Omega Ratio Rank: 74
CNDX.L Calmar Ratio Rank: 73
CNDX.L Martin Ratio Rank: 71

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.

BBUS.L vs. CNDX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaBuilders US Equity UCITS USD Acc (BBUS.L) and iShares NASDAQ 100 UCITS ETF (CNDX.L). 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.

	BBUS.L	CNDX.L	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.52	-0.16
Sortino ratio: Return per unit of downside risk	3.41	3.50	-0.10
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	3.16	3.61	-0.45
Martin ratio: Return relative to average drawdown	13.61	13.03	+0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBUS.L vs. CNDX.L - Sharpe Ratio Comparison

The current BBUS.L Sharpe Ratio is 2.35, which is comparable to the CNDX.L Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of BBUS.L and CNDX.L, 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

	BBUS.L	CNDX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.52	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.84	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.12	-0.23

Drawdowns

BBUS.L vs. CNDX.L - Drawdown Comparison

The maximum BBUS.L drawdown since its inception was -34.26%, roughly equal to the maximum CNDX.L drawdown of -35.17%. Use the drawdown chart below to compare losses from any high point for BBUS.L and CNDX.L.

Drawdown Indicators

	BBUS.L	CNDX.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-35.17%	+0.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-11.00%	+2.38%
Max Drawdown (3Y) Largest decline over 3 years	-19.35%	-22.44%	+3.09%
Max Drawdown (5Y) Largest decline over 5 years	-25.33%	-35.17%	+9.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.17%	—
Current Drawdown Current decline from peak	-0.46%	-0.76%	+0.30%
Average Drawdown Average peak-to-trough decline	-5.40%	-5.30%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	3.07%	-1.06%

Volatility

BBUS.L vs. CNDX.L - Volatility Comparison

The current volatility for BetaBuilders US Equity UCITS USD Acc (BBUS.L) is 3.23%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 4.90%. This indicates that BBUS.L experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBUS.L	CNDX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	4.90%	-1.67%
Volatility (6M) Calculated over the trailing 6-month period	8.55%	11.88%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	15.79%	-4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	20.87%	-4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.86%	20.07%	-2.21%

BBUS.L vs. CNDX.L - Expense Ratio Comparison

BBUS.L has a 0.04% expense ratio, which is lower than CNDX.L's 0.33% expense ratio.

Dividends

BBUS.L vs. CNDX.L - Dividend Comparison

Neither BBUS.L nor CNDX.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBUS.L BetaBuilders US Equity UCITS USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CNDX.L iShares NASDAQ 100 UCITS ETF	0.00%	0.00%	0.02%	0.05%	0.06%	0.03%	0.04%	0.07%	0.06%	0.30%	0.16%	0.16%

Frequently Asked Questions

Can I hold both BBUS.L and CNDX.L in my portfolio?

With a correlation of 0.92, BBUS.L and CNDX.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BBUS.L or CNDX.L?

On fees, BBUS.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BBUS.L or CNDX.L?

BBUS.L is cheaper with a 0.04% expense ratio, compared with 0.33% for CNDX.L.

What is the main difference between BBUS.L and CNDX.L?

BBUS.L is categorized as Large Cap Blend Equities, while CNDX.L is Nasdaq-100. BBUS.L tracks Russell 1000 TR USD, while CNDX.L tracks NASDAQ-100 Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.04% for BBUS.L and 0.33% for CNDX.L.