CNX1.L vs. EQQD.L

Last updated Jul 16, 2026

CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and EQQD.L (Invesco Nasdaq-100 Swap UCITS ETF Dist) are both Nasdaq-100 funds - CNX1.L tracks the NASDAQ-100 Index while EQQD.L tracks the Russell 1000 Growth TR USD. Both are passively managed. Over the past 5 years, CNX1.L returned 15.78%/yr vs 15.92%/yr for EQQD.L. Their correlation of 0.94 suggests significant overlap in exposure. CNX1.L charges 0.36%/yr vs 0.20%/yr for EQQD.L.

Performance

CNX1.L vs. EQQD.L - 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 Invesco Nasdaq-100 Swap UCITS ETF Dist (EQQD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CNX1.L is traded in GBp, while EQQD.L is traded in USD. To make them comparable, the EQQD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with CNX1.L having a 15.64% return and EQQD.L slightly lower at 15.57%.

CNX1.L

• 1D: -1.40%
• 1M: -3.87%
• 6M: 15.77%
• YTD: 15.64%
• 1Y: 27.43%
• 3Y*: 22.65%
• 5Y*: 15.78%
• 10Y*: 20.73%

EQQD.L

• 1D: -1.84%
• 1M: -4.38%
• 6M: 15.35%
• YTD: 15.57%
• 1Y: 27.19%
• 3Y*: 22.69%
• 5Y*: 15.92%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNX1.L vs. EQQD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc)	15.64%	11.57%	28.51%	47.71%	-25.53%	19.84%
EQQD.L Invesco Nasdaq-100 Swap UCITS ETF Dist	15.57%	11.36%	28.95%	48.81%	-25.39%	19.78%

Correlation

The correlation between CNX1.L and EQQD.L is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 21, 2021	0.94

The correlation between CNX1.L and EQQD.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

CNX1.L vs. EQQD.L - Sectors Allocation Comparison

Sectors	CNX1.L	EQQD.L
Technology	58.5%	58.5%
Communication Services	14.3%	14.3%
Consumer Cyclical	11.4%	11.4%
Consumer Defensive	6.4%	6.4%
Healthcare	3.7%	3.7%
Industrials	2.8%	2.8%
Utilities	1.2%	1.2%
Basic Materials	1.0%	1.0%
Energy	0.5%	0.5%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

CNX1.L vs. EQQD.L — 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: 59
CNX1.L Sharpe Ratio Rank: 63
CNX1.L Sortino Ratio Rank: 61
CNX1.L Omega Ratio Rank: 61
CNX1.L Calmar Ratio Rank: 61
CNX1.L Martin Ratio Rank: 51

EQQD.L

EQQD.L Risk / Return Rank: 61
EQQD.L Sharpe Ratio Rank: 60
EQQD.L Sortino Ratio Rank: 62
EQQD.L Omega Ratio Rank: 58
EQQD.L Calmar Ratio Rank: 63
EQQD.L Martin Ratio Rank: 61

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. EQQD.L - 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 Invesco Nasdaq-100 Swap UCITS ETF Dist (EQQD.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.

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.L	EQQD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.55	+0.11
Sortino ratio: Return per unit of downside risk	2.29	2.19	+0.10
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.48	2.44	+0.04
Martin ratio: Return relative to average drawdown	6.99	6.65	+0.34

CNX1.L vs. EQQD.L - Sharpe Ratio Comparison

The current CNX1.L Sharpe Ratio is 1.66, which is comparable to the EQQD.L Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of CNX1.L and EQQD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNX1.L vs. EQQD.L - Drawdown Comparison

The maximum CNX1.L drawdown since its inception was -27.56%, roughly equal to the maximum EQQD.L drawdown of -27.45%. Use the drawdown chart below to compare losses from any high point for CNX1.L and EQQD.L.

Drawdown Indicators

	CNX1.L	EQQD.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.56%	-27.45%	-0.11%
Max Drawdown (1Y) Largest decline over 1 year	-11.03%	-11.10%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-24.56%	-24.40%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-27.56%	-27.45%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-27.56%	—	—
Current Drawdown Current decline from peak	-4.92%	-5.18%	+0.26%
Average Drawdown Average peak-to-trough decline	-4.90%	-7.21%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.91%	4.08%	-0.17%

Volatility

CNX1.L vs. EQQD.L - Volatility Comparison

iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) and Invesco Nasdaq-100 Swap UCITS ETF Dist (EQQD.L) have volatilities of 6.21% and 6.40%, 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.

Volatility by Period

	CNX1.L	EQQD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.21%	6.40%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	12.50%	13.74%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	17.45%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.43%	20.28%	+10.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.50%	20.16%	+5.34%

CNX1.L vs. EQQD.L - Expense Ratio Comparison

CNX1.L has a 0.36% expense ratio, which is higher than EQQD.L's 0.20% expense ratio.

Dividends

CNX1.L vs. EQQD.L - Dividend Comparison

CNX1.L has not paid dividends to shareholders, while EQQD.L's dividend yield for the trailing twelve months is around 0.59%.

Position	TTM	2025	2024	2023	2022	2021
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EQQD.L Invesco Nasdaq-100 Swap UCITS ETF Dist	0.59%	0.64%	0.75%	0.75%	0.95%	0.31%

Frequently Asked Questions

Can I hold both CNX1.L and EQQD.L in my portfolio?

With a correlation of 0.95, CNX1.L and EQQD.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.

Which ETF is better, CNX1.L or EQQD.L?

On fees, EQQD.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNX1.L or EQQD.L?

EQQD.L is cheaper with a 0.20% expense ratio, compared with 0.36% for CNX1.L.

What is the main difference between CNX1.L and EQQD.L?

CNX1.L tracks NASDAQ-100 Index, while EQQD.L tracks Russell 1000 Growth TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.36% for CNX1.L and 0.20% for EQQD.L.