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CNDX.L vs. IEUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CNDX.L vs. IEUR

Last updated Jun 14, 2026

CNDX.L (iShares NASDAQ 100 UCITS ETF) and IEUR (iShares Core MSCI Europe ETF) are both exchange-traded funds - CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index. Both are passively managed. Over the past 10 years, CNDX.L returned 21.60%/yr vs 10.11%/yr for IEUR. At a 0.44 correlation, their price movements are largely independent. CNDX.L charges 0.33%/yr vs 0.09%/yr for IEUR.

Performance

CNDX.L vs. IEUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares NASDAQ 100 UCITS ETF (CNDX.L) and iShares Core MSCI Europe ETF (IEUR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CNDX.L achieves a 16.86% return, which is significantly higher than IEUR's 7.65% return. Over the past 10 years, CNDX.L has outperformed IEUR with an annualized return of 21.60%, while IEUR has yielded a comparatively lower 10.11% annualized return.

CNDX.L

1D
3.01%
1M
0.15%
YTD
16.86%
6M
18.12%
1Y
36.58%
3Y*
26.24%
5Y*
16.67%
10Y*
21.60%

IEUR

1D
0.14%
1M
2.40%
YTD
7.65%
6M
9.78%
1Y
19.09%
3Y*
16.42%
5Y*
8.26%
10Y*
10.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CNDX.L vs. IEUR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CNDX.L
iShares NASDAQ 100 UCITS ETF		16.86%19.75%26.42%56.22%-33.49%27.92%48.25%37.96%-1.08%31.91%
IEUR
iShares Core MSCI Europe ETF		7.65%35.67%1.40%19.71%-15.90%16.71%5.31%24.95%-14.86%26.70%

Correlation

The correlation between CNDX.L and IEUR is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.44

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.44

CNDX.L vs. IEUR - Sectors Allocation Comparison

Sectors
CNDX.L
IEUR

Technology

60.0%
9.4%

Communication Services

13.5%
3.9%

Consumer Cyclical

10.8%
7.0%

Consumer Defensive

6.4%
7.7%

Healthcare

3.6%
12.5%

Industrials

2.8%
20.3%

Utilities

1.1%
4.4%

Basic Materials

1.0%
5.8%

Energy

0.5%
4.9%

Financial Services

0.2%
22.5%

Real Estate

0.1%
1.5%

Technology

CNDX.L
60.0%
IEUR
9.4%

Communication Services

CNDX.L
13.5%
IEUR
3.9%

Consumer Cyclical

CNDX.L
10.8%
IEUR
7.0%

Consumer Defensive

CNDX.L
6.4%
IEUR
7.7%

Healthcare

CNDX.L
3.6%
IEUR
12.5%

Industrials

CNDX.L
2.8%
IEUR
20.3%

Utilities

CNDX.L
1.1%
IEUR
4.4%

Basic Materials

CNDX.L
1.0%
IEUR
5.8%

Energy

CNDX.L
0.5%
IEUR
4.9%

Financial Services

CNDX.L
0.2%
IEUR
22.5%

Real Estate

CNDX.L
0.1%
IEUR
1.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares NASDAQ 100 UCITS ETF

iShares Core MSCI Europe ETF

Often compared with CNDX.L:
CNDX.L vs. QQQCNDX.L vs. EQQQ.DECNDX.L vs. SXRV.DECNDX.L vs. CNX1.LCNDX.L vs. CSPX.LCNDX.L vs. EQQU.LCNDX.L vs. VWRA.L
Often compared with IEUR:
IEUR vs. VGKIEUR vs. IEVIEUR vs. IMEU.LIEUR vs. FEZIEUR vs. EZUIEUR vs. VOOIEUR vs. EFA

Return for Risk

CNDX.L vs. IEUR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CNDX.L
CNDX.L Risk / Return Rank: 7575
Overall Rank
CNDX.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
CNDX.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
CNDX.L Omega Ratio Rank: 7474
Omega Ratio Rank
CNDX.L Calmar Ratio Rank: 7373
Calmar Ratio Rank
CNDX.L Martin Ratio Rank: 7070
Martin Ratio Rank
IEUR
IEUR Risk / Return Rank: 3535
Overall Rank
IEUR Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IEUR Sortino Ratio Rank: 3535
Sortino Ratio Rank
IEUR Omega Ratio Rank: 3333
Omega Ratio Rank
IEUR Calmar Ratio Rank: 3333
Calmar Ratio Rank
IEUR Martin Ratio Rank: 3939
Martin Ratio Rank
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.L vs. IEUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (CNDX.L) and iShares Core MSCI Europe ETF (IEUR). 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.LIEURDifference
Sharpe ratioReturn per unit of total volatility
2.17
1.10

+1.07

Sortino ratioReturn per unit of downside risk
3.03
1.64

+1.40

Omega ratioGain probability vs. loss probability

1.38

1.20

+0.18

Calmar ratioReturn relative to maximum drawdown

3.24

1.44

+1.80

Martin ratioReturn relative to average drawdown

11.35

5.40

+5.94

CNDX.L vs. IEUR - Sharpe Ratio Comparison

The current CNDX.L Sharpe Ratio is 2.17, which is higher than the IEUR Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of CNDX.L and IEUR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CNDX.L vs. IEUR - Drawdown Comparison

The maximum CNDX.L drawdown since its inception was -35.21%, roughly equal to the maximum IEUR drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for CNDX.L and IEUR.

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Drawdown Indicators

CNDX.LIEURDifference

Max Drawdown

Largest peak-to-trough decline

-35.21%

-36.96%

+1.75%

Max Drawdown (1Y)

Largest decline over 1 year

-11.00%

-12.04%

+1.04%

Max Drawdown (3Y)

Largest decline over 3 years

-22.44%

-14.25%

-8.19%

Max Drawdown (5Y)

Largest decline over 5 years

-35.21%

-32.75%

-2.46%

Max Drawdown (10Y)

Largest decline over 10 years

-35.21%

-36.96%

+1.75%

Current Drawdown

Current decline from peak

-3.08%

-0.44%

-2.64%

Average Drawdown

Average peak-to-trough decline

-5.13%

-8.21%

+3.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.15%

3.22%

-0.07%

Volatility

CNDX.L vs. IEUR - Volatility Comparison

iShares NASDAQ 100 UCITS ETF (CNDX.L) has a higher volatility of 6.21% compared to iShares Core MSCI Europe ETF (IEUR) at 5.70%. This indicates that CNDX.L's price experiences larger fluctuations and is considered to be riskier than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CNDX.LIEURDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.21%

5.70%

+0.51%

Volatility (6M)

Calculated over the trailing 6-month period

12.72%

13.31%

-0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

16.44%

15.83%

+0.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.99%

17.81%

+3.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.12%

18.68%

+1.44%

CNDX.L vs. IEUR - Expense Ratio Comparison

CNDX.L has a 0.33% expense ratio, which is higher than IEUR's 0.09% expense ratio.

Dividends

CNDX.L vs. IEUR - Dividend Comparison

CNDX.L has not paid dividends to shareholders, while IEUR's dividend yield for the trailing twelve months is around 2.76%.

PositionTTM20252024202320222021202020192018201720162015
CNDX.L
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%
IEUR
iShares Core MSCI Europe ETF		2.76%2.97%3.54%3.17%3.05%2.88%2.13%3.26%3.76%2.64%3.19%2.79%

Frequently Asked Questions

CNDX.L and IEUR have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEUR is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEUR is cheaper with a 0.09% expense ratio, compared with 0.33% for CNDX.L.

CNDX.L is categorized as Nasdaq-100, while IEUR is Europe Equities. CNDX.L tracks NASDAQ-100 Index, while IEUR tracks MSCI Europe Investable Market Index. Their fees differ too: 0.33% for CNDX.L and 0.09% for IEUR.

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