PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
CNX1.L vs. DBAW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CNX1.L vs. DBAW

Last updated Jun 14, 2026

CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) are both exchange-traded funds - CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while DBAW is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA US Dollar Hedged Index. Both are passively managed. Over the past 10 years, CNX1.L returned 22.20%/yr vs 12.40%/yr for DBAW. A 0.52 correlation means they provide meaningful diversification when combined. CNX1.L charges 0.36%/yr vs 0.41%/yr for DBAW.

Performance

CNX1.L vs. DBAW - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

CNX1.L is traded in GBp, while DBAW is traded in USD. To make them comparable, the DBAW 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 17.14% return, which is significantly higher than DBAW's 16.07% return. Over the past 10 years, CNX1.L has outperformed DBAW with an annualized return of 22.20%, while DBAW has yielded a comparatively lower 12.40% annualized return.

CNX1.L

1D
2.47%
1M
0.58%
YTD
17.14%
6M
17.43%
1Y
38.31%
3Y*
23.65%
5Y*
17.86%
10Y*
22.20%

DBAW

1D
0.47%
1M
1.98%
YTD
16.07%
6M
16.69%
1Y
37.23%
3Y*
17.97%
5Y*
12.31%
10Y*
12.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CNX1.L vs. DBAW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CNX1.L
iShares NASDAQ 100 UCITS ETF USD (Acc)		17.14%11.57%28.51%47.71%-25.53%29.50%43.24%33.63%4.62%20.13%
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		16.07%17.46%16.35%10.45%-3.05%14.15%4.29%18.28%-5.06%8.52%

Correlation

The correlation between CNX1.L and DBAW 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

0.43

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

0.45

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

0.51

Correlation (All Time)
Calculated using the full available price history since Jan 27, 2014

0.52

The correlation between CNX1.L and DBAW has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

CNX1.L vs. DBAW - Sectors Allocation Comparison

Sectors
CNX1.L
DBAW

Technology

60.0%
22.4%

Communication Services

13.5%
4.9%

Consumer Cyclical

10.8%
7.6%

Consumer Defensive

6.4%
5.0%

Healthcare

3.6%
6.8%

Industrials

2.8%
14.3%

Utilities

1.1%
2.9%

Basic Materials

1.0%
6.9%

Energy

0.5%
4.8%

Financial Services

0.2%
23.2%

Real Estate

0.1%
1.4%

Technology

CNX1.L
60.0%
DBAW
22.4%

Communication Services

CNX1.L
13.5%
DBAW
4.9%

Consumer Cyclical

CNX1.L
10.8%
DBAW
7.6%

Consumer Defensive

CNX1.L
6.4%
DBAW
5.0%

Healthcare

CNX1.L
3.6%
DBAW
6.8%

Industrials

CNX1.L
2.8%
DBAW
14.3%

Utilities

CNX1.L
1.1%
DBAW
2.9%

Basic Materials

CNX1.L
1.0%
DBAW
6.9%

Energy

CNX1.L
0.5%
DBAW
4.8%

Financial Services

CNX1.L
0.2%
DBAW
23.2%

Real Estate

CNX1.L
0.1%
DBAW
1.4%

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 USD (Acc)

Xtrackers MSCI All World ex US Hedged Equity ETF

Often compared with CNX1.L:
CNX1.L vs. CNDX.LCNX1.L vs. EQQQ.LCNX1.L vs. IITU.LCNX1.L vs. EQGB.LCNX1.L vs. QQQCNX1.L vs. XNAQ.LCNX1.L vs. SXRV.DE
Often compared with DBAW:
DBAW vs. HAWXDBAW vs. HFXIDBAW vs. MDIJXDBAW vs. GSIEDBAW vs. BROIXDBAW vs. BKIEDBAW vs. DXJ

Return for Risk

CNX1.L vs. DBAW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CNX1.L
CNX1.L Risk / Return Rank: 7878
Overall Rank
CNX1.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
CNX1.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
CNX1.L Omega Ratio Rank: 8383
Omega Ratio Rank
CNX1.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
CNX1.L Martin Ratio Rank: 6363
Martin Ratio Rank
DBAW
DBAW Risk / Return Rank: 8686
Overall Rank
DBAW Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
DBAW Sortino Ratio Rank: 8686
Sortino Ratio Rank
DBAW Omega Ratio Rank: 8989
Omega Ratio Rank
DBAW Calmar Ratio Rank: 8282
Calmar Ratio Rank
DBAW Martin Ratio Rank: 8585
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.

CNX1.L vs. DBAW - 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 Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). 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.

CNX1.LDBAWDifference
Sharpe ratioReturn per unit of total volatility
2.45
2.85

-0.40

Sortino ratioReturn per unit of downside risk
3.24
3.70

-0.47

Omega ratioGain probability vs. loss probability

1.43

1.55

-0.12

Calmar ratioReturn relative to maximum drawdown

3.39

4.61

-1.22

Martin ratioReturn relative to average drawdown

9.86

17.94

-8.08

CNX1.L vs. DBAW - Sharpe Ratio Comparison

The current CNX1.L Sharpe Ratio is 2.45, which is comparable to the DBAW Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of CNX1.L and DBAW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

CNX1.L vs. DBAW - Drawdown Comparison

The maximum CNX1.L drawdown since its inception was -27.56%, roughly equal to the maximum DBAW drawdown of -27.31%. Use the drawdown chart below to compare losses from any high point for CNX1.L and DBAW.

Loading charts...

Drawdown Indicators

CNX1.LDBAWDifference

Max Drawdown

Largest peak-to-trough decline

-27.56%

-27.31%

-0.25%

Max Drawdown (1Y)

Largest decline over 1 year

-11.03%

-7.88%

-3.15%

Max Drawdown (3Y)

Largest decline over 3 years

-24.56%

-15.36%

-9.20%

Max Drawdown (5Y)

Largest decline over 5 years

-27.56%

-15.36%

-12.20%

Max Drawdown (10Y)

Largest decline over 10 years

-27.56%

-27.31%

-0.25%

Current Drawdown

Current decline from peak

-2.87%

-0.61%

-2.26%

Average Drawdown

Average peak-to-trough decline

-4.91%

-4.06%

-0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.80%

2.02%

+1.78%

Volatility

CNX1.L vs. DBAW - Volatility Comparison

iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) has a higher volatility of 5.76% compared to Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) at 5.17%. This indicates that CNX1.L's price experiences larger fluctuations and is considered to be riskier than DBAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

CNX1.LDBAWDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.76%

5.17%

+0.59%

Volatility (6M)

Calculated over the trailing 6-month period

11.22%

10.72%

+0.50%

Volatility (1Y)

Calculated over the trailing 1-year period

15.31%

12.77%

+2.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.31%

13.49%

+16.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.51%

16.00%

+9.51%

CNX1.L vs. DBAW - Expense Ratio Comparison

CNX1.L has a 0.36% expense ratio, which is lower than DBAW's 0.41% expense ratio.

Dividends

CNX1.L vs. DBAW - Dividend Comparison

CNX1.L has not paid dividends to shareholders, while DBAW's dividend yield for the trailing twelve months is around 3.31%.

PositionTTM20252024202320222021202020192018201720162015
CNX1.L
iShares NASDAQ 100 UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		3.31%3.83%1.70%3.45%8.81%2.05%2.08%2.91%2.93%2.41%1.99%5.74%

Frequently Asked Questions

CNX1.L and DBAW 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, CNX1.L is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CNX1.L is cheaper with a 0.36% expense ratio, compared with 0.41% for DBAW.

CNX1.L is categorized as Nasdaq-100, while DBAW is Foreign Large Cap Equities. CNX1.L tracks NASDAQ-100 Index, while DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index. They also come from different issuers: iShares and Deutsche Bank. Their fees differ too: 0.36% for CNX1.L and 0.41% for DBAW.

Portfolio Optimizer

Find the right allocation for CNX1.L and DBAW

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer