CNDX.L vs. QQQ3.L
CNDX.L (iShares NASDAQ 100 UCITS ETF) and QQQ3.L (WisdomTree NASDAQ 100 3x Daily Leveraged) are both Nasdaq-100 funds - CNDX.L tracks the NASDAQ-100 Index while QQQ3.L tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, CNDX.L returned 21.62%/yr vs 43.93%/yr for QQQ3.L. With a 0.98 correlation, they move nearly in lockstep. CNDX.L charges 0.33%/yr vs 0.75%/yr for QQQ3.L.
Performance
CNDX.L vs. QQQ3.L - 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 lower than QQQ3.L's 56.06% return. Over the past 10 years, CNDX.L has underperformed QQQ3.L with an annualized return of 21.62%, while QQQ3.L has yielded a comparatively higher 43.93% 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%
QQQ3.L
- 1D
- -2.48%
- 1M
- 19.87%
- YTD
- 56.06%
- 6M
- 50.04%
- 1Y
- 119.69%
- 3Y*
- 64.10%
- 5Y*
- 26.81%
- 10Y*
- 43.93%
CNDX.L vs. QQQ3.L - 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% |
QQQ3.L WisdomTree NASDAQ 100 3x Daily Leveraged | 56.06% | 27.64% | 59.91% | 209.50% | -79.58% | 87.37% | 110.13% | 128.92% | -21.29% | 114.27% |
Correlation
The correlation between CNDX.L and QQQ3.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2012 | 0.98 |
The correlation between CNDX.L and QQQ3.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
CNDX.L vs. QQQ3.L — Risk / Return Rank
CNDX.L
QQQ3.L
CNDX.L vs. QQQ3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (CNDX.L) and WisdomTree NASDAQ 100 3x Daily Leveraged (QQQ3.L). 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 | QQQ3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.38 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 3.44 | +0.17 |
| Martin ratioReturn relative to average drawdown | 13.03 | 10.78 | +2.25 |
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 | QQQ3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 2.63 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.43 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.73 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.82 | +0.30 |
Drawdowns
CNDX.L vs. QQQ3.L - Drawdown Comparison
The maximum CNDX.L drawdown since its inception was -35.17%, smaller than the maximum QQQ3.L drawdown of -81.35%. Use the drawdown chart below to compare losses from any high point for CNDX.L and QQQ3.L.
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Drawdown Indicators
| CNDX.L | QQQ3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.17% | -81.35% | +46.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -35.92% | +24.92% |
Max Drawdown (3Y)Largest decline over 3 years | -22.44% | -58.20% | +35.76% |
Max Drawdown (5Y)Largest decline over 5 years | -35.17% | -81.35% | +46.18% |
Max Drawdown (10Y)Largest decline over 10 years | -35.17% | -81.35% | +46.18% |
Current DrawdownCurrent decline from peak | -0.76% | -2.48% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -5.30% | -19.62% | +14.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 11.49% | -8.42% |
Volatility
CNDX.L vs. QQQ3.L - Volatility Comparison
The current volatility for iShares NASDAQ 100 UCITS ETF (CNDX.L) is 4.90%, while WisdomTree NASDAQ 100 3x Daily Leveraged (QQQ3.L) has a volatility of 14.73%. This indicates that CNDX.L experiences smaller price fluctuations and is considered to be less risky than QQQ3.L 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 | QQQ3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 14.73% | -9.83% |
Volatility (6M)Calculated over the trailing 6-month period | 11.88% | 34.78% | -22.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.79% | 47.01% | -31.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.87% | 62.24% | -41.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.07% | 59.91% | -39.84% |
CNDX.L vs. QQQ3.L - Expense Ratio Comparison
CNDX.L has a 0.33% expense ratio, which is lower than QQQ3.L's 0.75% expense ratio.
Dividends
CNDX.L vs. QQQ3.L - Dividend Comparison
Neither CNDX.L nor QQQ3.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QQQ3.L WisdomTree NASDAQ 100 3x Daily Leveraged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, CNDX.L and QQQ3.L 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, CNDX.L is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNDX.L is cheaper with a 0.33% expense ratio, compared with 0.75% for QQQ3.L.
CNDX.L tracks NASDAQ-100 Index, while QQQ3.L tracks NASDAQ-100 Index (300%). They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.33% for CNDX.L and 0.75% for QQQ3.L.
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