CNDX.AS vs. IAPD.AS

Last updated Jun 27, 2026

CNDX.AS (iShares NASDAQ 100 UCITS ETF) and IAPD.AS (iShares Asia Pacific Dividend UCITS ETF) are both exchange-traded funds - CNDX.AS is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while IAPD.AS is a Asia Pacific Equities fund tracking the MSCI AC Asia Pacific NR USD. Both are passively managed. Over the past 10 years, CNDX.AS returned 21.49%/yr vs 5.50%/yr for IAPD.AS. A 0.53 correlation means they provide meaningful diversification when combined. CNDX.AS charges 0.36%/yr vs 0.59%/yr for IAPD.AS.

Performance

CNDX.AS vs. IAPD.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares NASDAQ 100 UCITS ETF (CNDX.AS) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNDX.AS achieves a 18.88% return, which is significantly higher than IAPD.AS's 2.70% return. Over the past 10 years, CNDX.AS has outperformed IAPD.AS with an annualized return of 21.49%, while IAPD.AS has yielded a comparatively lower 5.50% annualized return.

CNDX.AS

• 1D: 0.00%
• 1M: 0.38%
• YTD: 18.88%
• 6M: 18.88%
• 1Y: 35.28%
• 3Y*: 24.42%
• 5Y*: 16.89%
• 10Y*: 21.49%

IAPD.AS

• 1D: 0.00%
• 1M: 2.66%
• YTD: 2.70%
• 6M: 2.70%
• 1Y: 19.29%
• 3Y*: 13.71%
• 5Y*: 8.30%
• 10Y*: 5.50%

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

CNDX.AS vs. IAPD.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNDX.AS iShares NASDAQ 100 UCITS ETF	18.88%	6.57%	35.29%	50.41%	-29.90%	38.80%	35.83%	40.51%	4.53%	16.12%
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	2.70%	13.43%	13.03%	9.11%	4.12%	12.14%	-17.28%	16.04%	-10.54%	2.53%

Correlation

The correlation between CNDX.AS and IAPD.AS 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	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014	0.53

Over the past year, the correlation between CNDX.AS and IAPD.AS has dropped to 0.21 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

CNDX.AS vs. IAPD.AS — Risk / Return Rank

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

CNDX.AS

CNDX.AS Risk / Return Rank: 74
CNDX.AS Sharpe Ratio Rank: 77
CNDX.AS Sortino Ratio Rank: 74
CNDX.AS Omega Ratio Rank: 74
CNDX.AS Calmar Ratio Rank: 78
CNDX.AS Martin Ratio Rank: 65

IAPD.AS

IAPD.AS Risk / Return Rank: 97
IAPD.AS Sharpe Ratio Rank: 95
IAPD.AS Sortino Ratio Rank: 97
IAPD.AS Omega Ratio Rank: 98
IAPD.AS Calmar Ratio Rank: 95
IAPD.AS Martin Ratio Rank: 97

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.

CNDX.AS vs. IAPD.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (CNDX.AS) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). 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.

	CNDX.AS	IAPD.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.17	3.27	-1.11
Sortino ratio: Return per unit of downside risk	2.90	6.08	-3.18
Omega ratio: Gain probability vs. loss probability	1.38	2.36	-0.98
Calmar ratio: Return relative to maximum drawdown	3.57	6.84	-3.26
Martin ratio: Return relative to average drawdown	10.44	39.82	-29.39

CNDX.AS vs. IAPD.AS - Sharpe Ratio Comparison

The current CNDX.AS Sharpe Ratio is 2.17, which is lower than the IAPD.AS Sharpe Ratio of 3.27. The chart below compares the historical Sharpe Ratios of CNDX.AS and IAPD.AS, 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

CNDX.AS vs. IAPD.AS - Drawdown Comparison

The maximum CNDX.AS drawdown since its inception was -31.21%, smaller than the maximum IAPD.AS drawdown of -75.90%. Use the drawdown chart below to compare losses from any high point for CNDX.AS and IAPD.AS.

Drawdown Indicators

	CNDX.AS	IAPD.AS	Difference
Max Drawdown Largest peak-to-trough decline	-31.21%	-75.90%	+44.69%
Max Drawdown (1Y) Largest decline over 1 year	-10.06%	-3.12%	-6.94%
Max Drawdown (3Y) Largest decline over 3 years	-26.57%	-20.06%	-6.51%
Max Drawdown (5Y) Largest decline over 5 years	-31.21%	-20.06%	-11.15%
Max Drawdown (10Y) Largest decline over 10 years	-31.21%	-42.65%	+11.44%
Current Drawdown Current decline from peak	-2.59%	0.00%	-2.59%
Average Drawdown Average peak-to-trough decline	-5.98%	-25.02%	+19.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	0.54%	+2.88%

Volatility

CNDX.AS vs. IAPD.AS - Volatility Comparison

iShares NASDAQ 100 UCITS ETF (CNDX.AS) has a higher volatility of 5.96% compared to iShares Asia Pacific Dividend UCITS ETF (IAPD.AS) at 2.62%. This indicates that CNDX.AS's price experiences larger fluctuations and is considered to be riskier than IAPD.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNDX.AS	IAPD.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	2.62%	+3.34%
Volatility (6M) Calculated over the trailing 6-month period	11.88%	2.62%	+9.26%
Volatility (1Y) Calculated over the trailing 1-year period	16.58%	6.61%	+9.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	12.10%	+7.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.70%	15.37%	+4.33%

CNDX.AS vs. IAPD.AS - Expense Ratio Comparison

CNDX.AS has a 0.36% expense ratio, which is lower than IAPD.AS's 0.59% expense ratio.

Dividends

CNDX.AS vs. IAPD.AS - Dividend Comparison

CNDX.AS has not paid dividends to shareholders, while IAPD.AS's dividend yield for the trailing twelve months is around 4.75%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNDX.AS iShares NASDAQ 100 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	4.75%	4.31%	5.20%	5.83%	7.01%	5.42%	3.68%	5.52%	5.93%	4.78%	4.40%	5.39%

Frequently Asked Questions

Can I hold both CNDX.AS and IAPD.AS in my portfolio?

CNDX.AS and IAPD.AS 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.

Which ETF is better, CNDX.AS or IAPD.AS?

On fees, CNDX.AS is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNDX.AS or IAPD.AS?

CNDX.AS is cheaper with a 0.36% expense ratio, compared with 0.59% for IAPD.AS.

What is the main difference between CNDX.AS and IAPD.AS?

CNDX.AS is categorized as Nasdaq-100, while IAPD.AS is Asia Pacific Equities. CNDX.AS tracks NASDAQ-100 Index, while IAPD.AS tracks MSCI AC Asia Pacific NR USD. Their fees differ too: 0.36% for CNDX.AS and 0.59% for IAPD.AS.