CNX1.L vs. CNDX.AS
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and CNDX.AS (iShares NASDAQ 100 UCITS ETF) are both Nasdaq-100 funds from iShares tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, CNX1.L returned 22.21%/yr vs 22.42%/yr for CNDX.AS. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.36% expense ratio.
Performance
CNX1.L vs. CNDX.AS - Performance Comparison
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Different Trading Currencies
CNX1.L is traded in GBp, while CNDX.AS is traded in EUR. To make them comparable, the CNDX.AS values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNX1.L achieves a 17.33% return, which is significantly lower than CNDX.AS's 20.01% return. Both investments have delivered pretty close results over the past 10 years, with CNX1.L having a 22.21% annualized return and CNDX.AS not far ahead at 22.42%.
CNX1.L
- 1D
- -0.16%
- 1M
- 3.85%
- YTD
- 17.33%
- 6M
- 15.28%
- 1Y
- 38.06%
- 3Y*
- 24.63%
- 5Y*
- 18.10%
- 10Y*
- 22.21%
CNDX.AS
- 1D
- -0.69%
- 1M
- 5.91%
- YTD
- 20.01%
- 6M
- 17.64%
- 1Y
- 40.93%
- 3Y*
- 24.70%
- 5Y*
- 18.83%
- 10Y*
- 22.42%
CNX1.L vs. CNDX.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 17.33% | 11.57% | 28.51% | 47.71% | -25.53% | 29.50% | 43.24% | 33.63% | 4.62% | 20.13% |
CNDX.AS iShares NASDAQ 100 UCITS ETF | 20.01% | 11.84% | 29.14% | 47.41% | -26.28% | 30.57% | 43.51% | 32.54% | 5.56% | 21.08% |
Correlation
The correlation between CNX1.L and CNDX.AS is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 18, 2011 | 0.94 |
The correlation between CNX1.L and CNDX.AS has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
CNX1.L vs. CNDX.AS — Risk / Return Rank
CNX1.L
CNDX.AS
CNX1.L vs. CNDX.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) and iShares NASDAQ 100 UCITS ETF (CNDX.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.
| CNX1.L | CNDX.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.48 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 3.71 | -0.28 |
| Martin ratioReturn relative to average drawdown | 10.12 | 10.83 | -0.72 |
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
| CNX1.L | CNDX.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.55 | 2.74 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.96 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 1.13 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 1.06 | -1.02 |
Drawdowns
CNX1.L vs. CNDX.AS - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, roughly equal to the maximum CNDX.AS drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for CNX1.L and CNDX.AS.
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Drawdown Indicators
| CNX1.L | CNDX.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -27.59% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -11.00% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -24.96% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | -27.59% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -27.56% | -27.59% | +0.03% |
Current DrawdownCurrent decline from peak | -2.72% | -0.69% | -2.03% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -4.64% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 3.80% | -0.05% |
Volatility
CNX1.L vs. CNDX.AS - Volatility Comparison
iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) and iShares NASDAQ 100 UCITS ETF (CNDX.AS) have volatilities of 4.62% and 4.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNX1.L | CNDX.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 4.62% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 10.47% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.87% | 14.94% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.27% | 19.29% | +10.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.50% | 19.58% | +5.92% |
CNX1.L vs. CNDX.AS - Expense Ratio Comparison
Both CNX1.L and CNDX.AS have an expense ratio of 0.36%.
Dividends
CNX1.L vs. CNDX.AS - Dividend Comparison
Neither CNX1.L nor CNDX.AS has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, CNX1.L and CNDX.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.
Both ETFs have the same 0.36% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CNX1.L and CNDX.AS have the same expense ratio: 0.36% per year.
Both ETFs track NASDAQ-100 Index.
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