CNDX.AS vs. IMAE.AS
CNDX.AS (iShares NASDAQ 100 UCITS ETF) and IMAE.AS (iShares Core MSCI Europe UCITS ETF EUR (Acc)) are both exchange-traded funds - CNDX.AS is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while IMAE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, CNDX.AS returned 21.25%/yr vs 9.17%/yr for IMAE.AS. A 0.61 correlation means they provide meaningful diversification when combined. CNDX.AS charges 0.36%/yr vs 0.20%/yr for IMAE.AS.
Performance
CNDX.AS vs. IMAE.AS - Performance Comparison
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Returns By Period
In the year-to-date period, CNDX.AS achieves a 20.95% return, which is significantly higher than IMAE.AS's 7.51% return. Over the past 10 years, CNDX.AS has outperformed IMAE.AS with an annualized return of 21.25%, while IMAE.AS has yielded a comparatively lower 9.17% annualized return.
CNDX.AS
- 1D
- -0.77%
- 1M
- 9.31%
- YTD
- 20.95%
- 6M
- 19.45%
- 1Y
- 37.78%
- 3Y*
- 24.53%
- 5Y*
- 18.67%
- 10Y*
- 21.25%
IMAE.AS
- 1D
- 0.53%
- 1M
- 3.33%
- YTD
- 7.51%
- 6M
- 9.82%
- 1Y
- 16.13%
- 3Y*
- 13.66%
- 5Y*
- 9.96%
- 10Y*
- 9.17%
CNDX.AS vs. IMAE.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNDX.AS iShares NASDAQ 100 UCITS ETF | 20.95% | 6.16% | 35.29% | 50.41% | -29.90% | 38.80% | 35.83% | 40.51% | 4.53% | 16.12% |
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc) | 7.51% | 19.74% | 8.89% | 15.99% | -9.31% | 25.66% | -3.06% | 25.45% | -9.65% | 10.15% |
Correlation
The correlation between CNDX.AS and IMAE.AS is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2011 | 0.61 |
The correlation between CNDX.AS and IMAE.AS shifts across timeframes, from 0.48 (3 years) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CNDX.AS vs. IMAE.AS — Risk / Return Rank
CNDX.AS
IMAE.AS
CNDX.AS vs. IMAE.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 Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.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.
| CNDX.AS | IMAE.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.24 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 1.68 | +2.02 |
| Martin ratioReturn relative to average drawdown | 11.01 | 6.22 | +4.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNDX.AS | IMAE.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.41 | 1.25 | +1.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.69 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.58 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 0.53 | +0.50 |
Drawdowns
CNDX.AS vs. IMAE.AS - Drawdown Comparison
The maximum CNDX.AS drawdown since its inception was -31.21%, smaller than the maximum IMAE.AS drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for CNDX.AS and IMAE.AS.
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Drawdown Indicators
| CNDX.AS | IMAE.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.21% | -35.60% | +4.39% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -9.47% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -26.57% | -16.51% | -10.06% |
Max Drawdown (5Y)Largest decline over 5 years | -31.21% | -19.44% | -11.77% |
Max Drawdown (10Y)Largest decline over 10 years | -31.21% | -35.60% | +4.39% |
Current DrawdownCurrent decline from peak | -0.77% | -1.69% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -5.32% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 2.56% | +0.85% |
Volatility
CNDX.AS vs. IMAE.AS - Volatility Comparison
iShares NASDAQ 100 UCITS ETF (CNDX.AS) and iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) have volatilities of 4.35% and 4.39%, 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.
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Volatility by Period
| CNDX.AS | IMAE.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 4.39% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 10.62% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.45% | 12.76% | +2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.72% | 14.15% | +5.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 15.54% | +4.07% |
CNDX.AS vs. IMAE.AS - Expense Ratio Comparison
CNDX.AS has a 0.36% expense ratio, which is higher than IMAE.AS's 0.20% expense ratio.
Dividends
CNDX.AS vs. IMAE.AS - Dividend Comparison
Neither CNDX.AS nor IMAE.AS has paid dividends to shareholders.
Frequently Asked Questions
CNDX.AS and IMAE.AS have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IMAE.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IMAE.AS is cheaper with a 0.20% expense ratio, compared with 0.36% for CNDX.AS.
CNDX.AS is categorized as Nasdaq-100, while IMAE.AS is Europe Equities. CNDX.AS tracks NASDAQ-100 Index, while IMAE.AS tracks MSCI Europe NR EUR. Their fees differ too: 0.36% for CNDX.AS and 0.20% for IMAE.AS.
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