CNX1.L vs. NESP.L
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and NESP.L (Invesco Nasdaq-100 ESG UCITS ETF Acc) are both Nasdaq-100 funds - CNX1.L tracks the NASDAQ-100 Index while NESP.L tracks the Russell 1000 Growth TR USD. Both are passively managed. Over the past 3 years, CNX1.L returned 22.65%/yr vs 24.39%/yr for NESP.L. With a 0.97 correlation, they move nearly in lockstep. CNX1.L charges 0.36%/yr vs 0.25%/yr for NESP.L.
Performance
CNX1.L vs. NESP.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNX1.L achieves a 15.64% return, which is significantly lower than NESP.L's 18.42% return.
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%
NESP.L
- 1D
- 0.00%
- 1M
- -2.03%
- 6M
- 18.65%
- YTD
- 18.42%
- 1Y
- 31.08%
- 3Y*
- 24.39%
- 5Y*
- —
- 10Y*
- —
CNX1.L vs. NESP.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% | 9.18% |
NESP.L Invesco Nasdaq-100 ESG UCITS ETF Acc | 18.42% | 12.78% | 28.66% | 48.13% | -24.48% | -20.50% |
Correlation
The correlation between CNX1.L and NESP.L is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2021 | 0.97 |
The correlation between CNX1.L and NESP.L has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
CNX1.L vs. NESP.L — Risk / Return Rank
CNX1.L
NESP.L
CNX1.L vs. NESP.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 ESG UCITS ETF Acc (NESP.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 | NESP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.61 | -0.13 |
| Martin ratioReturn relative to average drawdown | 6.99 | 7.15 | -0.16 |
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Drawdowns
CNX1.L vs. NESP.L - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, smaller than the maximum NESP.L drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for CNX1.L and NESP.L.
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Drawdown Indicators
| CNX1.L | NESP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -40.98% | +13.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -11.96% | +0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -24.75% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.56% | — | — |
Current DrawdownCurrent decline from peak | -4.92% | -3.11% | -1.81% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -15.66% | +10.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.91% | 4.36% | -0.45% |
Volatility
CNX1.L vs. NESP.L - Volatility Comparison
The current volatility for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) is 6.21%, while Invesco Nasdaq-100 ESG UCITS ETF Acc (NESP.L) has a volatility of 6.70%. This indicates that CNX1.L experiences smaller price fluctuations and is considered to be less risky than NESP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNX1.L | NESP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 6.70% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 12.50% | 13.39% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 17.50% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.43% | 23.55% | +6.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.50% | 23.55% | +1.95% |
CNX1.L vs. NESP.L - Expense Ratio Comparison
CNX1.L has a 0.36% expense ratio, which is higher than NESP.L's 0.25% expense ratio.
Dividends
CNX1.L vs. NESP.L - Dividend Comparison
Neither CNX1.L nor NESP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, CNX1.L and NESP.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, NESP.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NESP.L is cheaper with a 0.25% expense ratio, compared with 0.36% for CNX1.L.
CNX1.L tracks NASDAQ-100 Index, while NESP.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 0.25% for NESP.L.
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