BNKS.L vs. ^NDX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares S&P U.S. Banks (BNKS.L) and NASDAQ 100 Index (^NDX).

BNKS.L is a passively managed fund by iShares that tracks the performance of the MSCI World/Financials NR USD. It was launched on May 22, 2018.

Performance

BNKS.L vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P U.S. Banks (BNKS.L) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

BNKS.L vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BNKS.L iShares S&P U.S. Banks	-2.97%	20.45%	28.55%	-3.74%	-18.79%	39.71%	-12.04%	36.28%	-24.32%
^NDX NASDAQ 100 Index	-4.87%	20.17%	24.88%	53.81%	-32.97%	26.63%	47.58%	37.96%	-8.97%

Returns By Period

In the year-to-date period, BNKS.L achieves a -2.97% return, which is significantly higher than ^NDX's -4.87% return.

BNKS.L

• 1D: 3.24%
• 1M: -1.45%
• YTD: -2.97%
• 6M: 4.50%
• 1Y: 23.60%
• 3Y*: 22.08%
• 5Y*: 5.16%
• 10Y*: —

^NDX

• 1D: 1.18%
• 1M: -3.89%
• YTD: -4.87%
• 6M: -3.15%
• 1Y: 23.58%
• 3Y*: 22.14%
• 5Y*: 12.50%
• 10Y*: 18.15%

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

Return for Risk

BNKS.L vs. ^NDX — Risk / Return Rank

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

BNKS.L

BNKS.L Risk / Return Rank: 46
BNKS.L Sharpe Ratio Rank: 48
BNKS.L Sortino Ratio Rank: 46
BNKS.L Omega Ratio Rank: 46
BNKS.L Calmar Ratio Rank: 49
BNKS.L Martin Ratio Rank: 42

^NDX

^NDX Risk / Return Rank: 76
^NDX Sharpe Ratio Rank: 70
^NDX Sortino Ratio Rank: 74
^NDX Omega Ratio Rank: 74
^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.

BNKS.L vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P U.S. Banks (BNKS.L) 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.

	BNKS.L	^NDX	Difference
Sharpe ratio Return per unit of total volatility	0.92	1.04	-0.12
Sortino ratio Return per unit of downside risk	1.32	1.62	-0.30
Omega ratio Gain probability vs. loss probability	1.19	1.23	-0.04
Calmar ratio Return relative to maximum drawdown	1.35	1.93	-0.58
Martin ratio Return relative to average drawdown	4.23	7.05	-2.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNKS.L vs. ^NDX - Sharpe Ratio Comparison

The current BNKS.L Sharpe Ratio is 0.92, which is comparable to the ^NDX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of BNKS.L and ^NDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BNKS.L	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	1.04	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.56	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.55	-0.38

Correlation

The correlation between BNKS.L and ^NDX is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BNKS.L vs. ^NDX - Drawdown Comparison

The maximum BNKS.L drawdown since its inception was -51.35%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for BNKS.L and ^NDX.

Drawdown Indicators

	BNKS.L	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-51.35%	-82.90%	+31.55%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-12.72%	-4.35%
Max Drawdown (5Y) Largest decline over 5 years	-50.15%	-35.56%	-14.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.56%	—
Current Drawdown Current decline from peak	-11.58%	-8.04%	-3.54%
Average Drawdown Average peak-to-trough decline	-17.98%	-24.72%	+6.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	3.49%	+1.90%

Volatility

BNKS.L vs. ^NDX - Volatility Comparison

iShares S&P U.S. Banks (BNKS.L) has a higher volatility of 7.60% compared to NASDAQ 100 Index (^NDX) at 6.65%. This indicates that BNKS.L'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

	BNKS.L	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	6.65%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	15.44%	12.93%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	25.55%	22.77%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.75%	22.61%	+5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.71%	22.48%	+9.23%