CNDX.L vs. BHYIX
CNDX.L (iShares NASDAQ 100 UCITS ETF) and BHYIX (BlackRock High Yield Bond Portfolio Institutional Shares) are both funds - CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while BHYIX is a High Yield Bonds fund managed by BlackRock. Over the past 10 years, CNDX.L returned 21.62%/yr vs 5.87%/yr for BHYIX. At a 0.46 correlation, their price movements are largely independent. CNDX.L charges 0.33%/yr vs 0.59%/yr for BHYIX.
Performance
CNDX.L vs. BHYIX - Performance Comparison
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Returns By Period
In the year-to-date period, CNDX.L achieves a 19.65% return, which is significantly higher than BHYIX's 1.76% return. Over the past 10 years, CNDX.L has outperformed BHYIX with an annualized return of 21.62%, while BHYIX has yielded a comparatively lower 5.87% annualized return.
CNDX.L
- 1D
- -0.66%
- 1M
- 6.81%
- YTD
- 19.65%
- 6M
- 18.66%
- 1Y
- 39.29%
- 3Y*
- 27.98%
- 5Y*
- 17.61%
- 10Y*
- 21.62%
BHYIX
- 1D
- 0.14%
- 1M
- 0.14%
- YTD
- 1.76%
- 6M
- 2.30%
- 1Y
- 7.74%
- 3Y*
- 9.26%
- 5Y*
- 4.44%
- 10Y*
- 5.87%
CNDX.L vs. BHYIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNDX.L iShares NASDAQ 100 UCITS ETF | 19.65% | 19.75% | 26.45% | 56.31% | -33.45% | 27.96% | 48.33% | 38.07% | -1.03% | 32.36% |
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | 1.76% | 9.18% | 8.55% | 13.19% | -11.24% | 5.53% | 5.87% | 15.35% | -2.81% | 8.23% |
Correlation
The correlation between CNDX.L and BHYIX 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 | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010 | 0.46 |
The correlation between CNDX.L and BHYIX has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.
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Return for Risk
CNDX.L vs. BHYIX — Risk / Return Rank
CNDX.L
BHYIX
CNDX.L vs. BHYIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (CNDX.L) and BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX). 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.L | BHYIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.53 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 3.23 | +0.38 |
| Martin ratioReturn relative to average drawdown | 13.03 | 15.99 | -2.96 |
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.L | BHYIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 2.30 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.85 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.99 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 1.22 | -0.10 |
Drawdowns
CNDX.L vs. BHYIX - Drawdown Comparison
The maximum CNDX.L drawdown since its inception was -35.17%, roughly equal to the maximum BHYIX drawdown of -34.82%. Use the drawdown chart below to compare losses from any high point for CNDX.L and BHYIX.
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Drawdown Indicators
| CNDX.L | BHYIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.17% | -34.82% | -0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -2.41% | -8.59% |
Max Drawdown (3Y)Largest decline over 3 years | -22.44% | -4.07% | -18.37% |
Max Drawdown (5Y)Largest decline over 5 years | -35.17% | -15.45% | -19.72% |
Max Drawdown (10Y)Largest decline over 10 years | -35.17% | -23.23% | -11.94% |
Current DrawdownCurrent decline from peak | -0.76% | -0.14% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -5.30% | -2.75% | -2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.48% | +2.59% |
Volatility
CNDX.L vs. BHYIX - Volatility Comparison
iShares NASDAQ 100 UCITS ETF (CNDX.L) has a higher volatility of 4.90% compared to BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) at 1.10%. This indicates that CNDX.L's price experiences larger fluctuations and is considered to be riskier than BHYIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNDX.L | BHYIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 1.10% | +3.80% |
Volatility (6M)Calculated over the trailing 6-month period | 11.88% | 2.57% | +9.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.79% | 3.38% | +12.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.87% | 5.24% | +15.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.07% | 5.93% | +14.14% |
CNDX.L vs. BHYIX - Expense Ratio Comparison
CNDX.L has a 0.33% expense ratio, which is lower than BHYIX's 0.59% expense ratio.
Dividends
CNDX.L vs. BHYIX - Dividend Comparison
CNDX.L has not paid dividends to shareholders, while BHYIX's dividend yield for the trailing twelve months is around 7.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | 7.06% | 7.05% | 7.46% | 6.15% | 4.91% | 4.73% | 5.12% | 5.70% | 6.33% | 5.82% | 5.96% | 6.33% |
CNDX.L iShares NASDAQ 100 UCITS ETF | 0.00% | 0.00% | 0.02% | 0.05% | 0.06% | 0.03% | 0.04% | 0.07% | 0.06% | 0.30% | 0.16% | 0.16% |
Frequently Asked Questions
CNDX.L and BHYIX 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.
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