CNDX.L vs. ZPRV.DE
CNDX.L (iShares NASDAQ 100 UCITS ETF) and ZPRV.DE (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while ZPRV.DE is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 10 years, CNDX.L returned 21.60%/yr vs 12.55%/yr for ZPRV.DE. A 0.54 correlation means they provide meaningful diversification when combined. CNDX.L charges 0.33%/yr vs 0.30%/yr for ZPRV.DE.
Performance
CNDX.L vs. ZPRV.DE - Performance Comparison
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Different Trading Currencies
CNDX.L is traded in USD, while ZPRV.DE is traded in EUR. To make them comparable, the ZPRV.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with CNDX.L having a 16.86% return and ZPRV.DE slightly lower at 16.23%. Over the past 10 years, CNDX.L has outperformed ZPRV.DE with an annualized return of 21.60%, while ZPRV.DE has yielded a comparatively lower 12.55% annualized return.
CNDX.L
- 1D
- 3.01%
- 1M
- 1.48%
- YTD
- 16.86%
- 6M
- 18.12%
- 1Y
- 36.58%
- 3Y*
- 26.24%
- 5Y*
- 16.67%
- 10Y*
- 21.60%
ZPRV.DE
- 1D
- 1.91%
- 1M
- 6.61%
- YTD
- 16.23%
- 6M
- 14.67%
- 1Y
- 38.25%
- 3Y*
- 18.69%
- 5Y*
- 10.00%
- 10Y*
- 12.55%
CNDX.L vs. ZPRV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 16.23% | 16.27% | 7.55% | 22.88% | -10.61% | 36.53% | 7.72% | 24.71% | -15.92% | 9.86% |
Correlation
The correlation between CNDX.L and ZPRV.DE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.54 |
The correlation between CNDX.L and ZPRV.DE has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
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Return for Risk
CNDX.L vs. ZPRV.DE — Risk / Return Rank
CNDX.L
ZPRV.DE
CNDX.L vs. ZPRV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (CNDX.L) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE). 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.L | ZPRV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 4.66 | -1.42 |
| Martin ratioReturn relative to average drawdown | 11.35 | 14.81 | -3.46 |
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Drawdowns
CNDX.L vs. ZPRV.DE - Drawdown Comparison
The maximum CNDX.L drawdown since its inception was -35.21%, smaller than the maximum ZPRV.DE drawdown of -49.35%. Use the drawdown chart below to compare losses from any high point for CNDX.L and ZPRV.DE.
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Drawdown Indicators
| CNDX.L | ZPRV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.21% | -49.35% | +14.14% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -8.03% | -2.97% |
Max Drawdown (3Y)Largest decline over 3 years | -22.44% | -28.19% | +5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -35.21% | -28.19% | -7.02% |
Max Drawdown (10Y)Largest decline over 10 years | -35.21% | -49.35% | +14.14% |
Current DrawdownCurrent decline from peak | -3.08% | 0.00% | -3.08% |
Average DrawdownAverage peak-to-trough decline | -5.13% | -9.43% | +4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 2.53% | +0.62% |
Volatility
CNDX.L vs. ZPRV.DE - Volatility Comparison
iShares NASDAQ 100 UCITS ETF (CNDX.L) has a higher volatility of 6.21% compared to SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) at 3.89%. This indicates that CNDX.L's price experiences larger fluctuations and is considered to be riskier than ZPRV.DE 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 | ZPRV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 3.89% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.72% | 10.06% | +2.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.44% | 16.09% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.99% | 21.32% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.12% | 23.31% | -3.19% |
CNDX.L vs. ZPRV.DE - Expense Ratio Comparison
CNDX.L has a 0.33% expense ratio, which is higher than ZPRV.DE's 0.30% expense ratio.
Dividends
CNDX.L vs. ZPRV.DE - Dividend Comparison
Neither CNDX.L nor ZPRV.DE has paid dividends to shareholders.
Frequently Asked Questions
CNDX.L and ZPRV.DE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRV.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRV.DE is cheaper with a 0.30% expense ratio, compared with 0.33% for CNDX.L.
CNDX.L is categorized as Nasdaq-100, while ZPRV.DE is Small Cap Value Equities. CNDX.L tracks NASDAQ-100 Index, while ZPRV.DE tracks MSCI USA Small Cap Value Weighted Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.33% for CNDX.L and 0.30% for ZPRV.DE.
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