CNDX.AS vs. WTCH.AS
CNDX.AS (iShares NASDAQ 100 UCITS ETF) and WTCH.AS (SPDR MSCI World Technology UCITS ETF) are both exchange-traded funds - CNDX.AS is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while WTCH.AS is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 10 years, CNDX.AS returned 21.25%/yr vs 23.98%/yr for WTCH.AS. Their correlation of 0.95 suggests significant overlap in exposure. CNDX.AS charges 0.36%/yr vs 0.30%/yr for WTCH.AS.
Performance
CNDX.AS vs. WTCH.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 lower than WTCH.AS's 25.44% return. Over the past 10 years, CNDX.AS has underperformed WTCH.AS with an annualized return of 21.25%, while WTCH.AS has yielded a comparatively higher 23.98% annualized return.
CNDX.AS
- 1D
- -0.77%
- 1M
- 5.85%
- YTD
- 20.95%
- 6M
- 18.81%
- 1Y
- 37.23%
- 3Y*
- 24.53%
- 5Y*
- 18.67%
- 10Y*
- 21.25%
WTCH.AS
- 1D
- -1.95%
- 1M
- 10.13%
- YTD
- 25.44%
- 6M
- 23.12%
- 1Y
- 47.64%
- 3Y*
- 29.25%
- 5Y*
- 22.49%
- 10Y*
- 23.98%
CNDX.AS vs. WTCH.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% |
WTCH.AS SPDR MSCI World Technology UCITS ETF | 25.44% | 8.41% | 43.39% | 49.09% | -27.66% | 40.88% | 31.79% | 49.43% | 1.91% | 21.26% |
Correlation
The correlation between CNDX.AS and WTCH.AS is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.95 |
The correlation between CNDX.AS and WTCH.AS has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
CNDX.AS vs. WTCH.AS — Risk / Return Rank
CNDX.AS
WTCH.AS
CNDX.AS vs. WTCH.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (CNDX.AS) and SPDR MSCI World Technology UCITS ETF (WTCH.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 | WTCH.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.39 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 3.06 | +0.64 |
| Martin ratioReturn relative to average drawdown | 11.01 | 8.10 | +2.91 |
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 | WTCH.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.41 | 2.37 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.99 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 1.11 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 1.15 | -0.12 |
Drawdowns
CNDX.AS vs. WTCH.AS - Drawdown Comparison
The maximum CNDX.AS drawdown since its inception was -31.21%, roughly equal to the maximum WTCH.AS drawdown of -31.28%. Use the drawdown chart below to compare losses from any high point for CNDX.AS and WTCH.AS.
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Drawdown Indicators
| CNDX.AS | WTCH.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.21% | -31.28% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -15.67% | +5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -26.57% | -30.06% | +3.49% |
Max Drawdown (5Y)Largest decline over 5 years | -31.21% | -30.06% | -1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -31.21% | -31.28% | +0.07% |
Current DrawdownCurrent decline from peak | -0.77% | -2.46% | +1.69% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -5.89% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 5.96% | -2.55% |
Volatility
CNDX.AS vs. WTCH.AS - Volatility Comparison
The current volatility for iShares NASDAQ 100 UCITS ETF (CNDX.AS) is 4.35%, while SPDR MSCI World Technology UCITS ETF (WTCH.AS) has a volatility of 7.02%. This indicates that CNDX.AS experiences smaller price fluctuations and is considered to be less risky than WTCH.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNDX.AS | WTCH.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 7.02% | -2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 14.82% | -4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.45% | 20.28% | -4.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.72% | 22.45% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 21.39% | -1.78% |
CNDX.AS vs. WTCH.AS - Expense Ratio Comparison
CNDX.AS has a 0.36% expense ratio, which is higher than WTCH.AS's 0.30% expense ratio.
Dividends
CNDX.AS vs. WTCH.AS - Dividend Comparison
Neither CNDX.AS nor WTCH.AS has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, CNDX.AS and WTCH.AS 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.
On fees, WTCH.AS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WTCH.AS is cheaper with a 0.30% expense ratio, compared with 0.36% for CNDX.AS.
CNDX.AS is categorized as Nasdaq-100, while WTCH.AS is Technology Equities. CNDX.AS tracks NASDAQ-100 Index, while WTCH.AS tracks MSCI World/Information Tech NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.36% for CNDX.AS and 0.30% for WTCH.AS.
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