BNKS.L vs. ^NDX

Last updated Jul 16, 2026

BNKS.L (iShares S&P U.S. Banks) is Financials Equities fund tracking the MSCI World/Financials NR USD, while ^NDX (NASDAQ 100 Index) is an index. Over the past 5 years, BNKS.L returned 8.52%/yr vs 14.98%/yr for ^NDX. At a 0.21 correlation, their price movements are largely independent.

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.

Returns By Period

In the year-to-date period, BNKS.L achieves a 13.36% return, which is significantly lower than ^NDX's 16.84% return.

BNKS.L

• 1D: 0.81%
• 1M: 4.92%
• 6M: 13.65%
• YTD: 13.36%
• 1Y: 26.48%
• 3Y*: 27.77%
• 5Y*: 8.52%
• 10Y*: —

^NDX

• 1D: -0.28%
• 1M: -3.41%
• 6M: 15.85%
• YTD: 16.84%
• 1Y: 28.92%
• 3Y*: 23.76%
• 5Y*: 14.98%
• 10Y*: 20.45%

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

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	13.36%	20.47%	27.74%	-3.09%	-18.79%	39.71%	-11.77%	33.02%	-23.57%
^NDX NASDAQ 100 Index	16.84%	20.17%	24.88%	53.81%	-32.97%	26.63%	47.58%	37.96%	-8.33%

Correlation

The correlation between BNKS.L and ^NDX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since May 22, 2018	0.21

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: 39
BNKS.L Sharpe Ratio Rank: 43
BNKS.L Sortino Ratio Rank: 43
BNKS.L Omega Ratio Rank: 40
BNKS.L Calmar Ratio Rank: 37
BNKS.L Martin Ratio Rank: 34

^NDX

^NDX Risk / Return Rank: 65
^NDX Sharpe Ratio Rank: 61
^NDX Sortino Ratio Rank: 57
^NDX Omega Ratio Rank: 62
^NDX Calmar Ratio Rank: 76
^NDX 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.

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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BNKS.L	^NDX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.56	-0.29
Sortino ratio: Return per unit of downside risk	1.85	2.12	-0.27
Omega ratio: Gain probability vs. loss probability	1.22	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	1.56	2.40	-0.84
Martin ratio: Return relative to average drawdown	4.30	8.52	-4.21

BNKS.L vs. ^NDX - Sharpe Ratio Comparison

The current BNKS.L Sharpe Ratio is 1.27, which is comparable to the ^NDX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of BNKS.L 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.

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	-16.90%	-12.12%	-4.78%
Max Drawdown (3Y) Largest decline over 3 years	-28.47%	-22.93%	-5.54%
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	0.00%	-3.78%	+3.78%
Average Drawdown Average peak-to-trough decline	-17.10%	-24.57%	+7.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.14%	3.40%	+2.74%

Volatility

BNKS.L vs. ^NDX - Volatility Comparison

The current volatility for iShares S&P U.S. Banks (BNKS.L) is 5.62%, while NASDAQ 100 Index (^NDX) has a volatility of 7.81%. This indicates that BNKS.L experiences smaller price fluctuations and is considered to be less risky 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	5.62%	7.81%	-2.19%
Volatility (6M) Calculated over the trailing 6-month period	16.10%	15.29%	+0.81%
Volatility (1Y) Calculated over the trailing 1-year period	20.77%	18.58%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.79%	22.99%	+4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.64%	22.67%	+7.97%

Frequently Asked Questions

Can I hold both BNKS.L and ^NDX in my portfolio?

BNKS.L and ^NDX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.