CNX1.L vs. QQQY.L
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and QQQY.L (IncomeShares Nasdaq 100 Options (0DTE) ETP) are both Nasdaq-100 funds. CNX1.L is passively managed, while QQQY.L is actively managed. Over the past year, CNX1.L returned 38.14% vs 31.70% for QQQY.L. A 0.62 correlation means they provide meaningful diversification when combined. CNX1.L charges 0.36%/yr vs 0.45%/yr for QQQY.L.
Performance
CNX1.L vs. QQQY.L - Performance Comparison
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Different Trading Currencies
CNX1.L is traded in GBp, while QQQY.L is traded in USD. To make them comparable, the QQQY.L 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 17.52% return, which is significantly higher than QQQY.L's 14.95% return.
CNX1.L
- 1D
- -1.94%
- 1M
- 6.07%
- YTD
- 17.52%
- 6M
- 15.40%
- 1Y
- 38.14%
- 3Y*
- 24.15%
- 5Y*
- 18.37%
- 10Y*
- 22.27%
QQQY.L
- 1D
- -0.48%
- 1M
- 6.35%
- YTD
- 14.95%
- 6M
- 13.46%
- 1Y
- 31.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CNX1.L vs. QQQY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 17.52% | 11.57% | 16.26% |
QQQY.L IncomeShares Nasdaq 100 Options (0DTE) ETP | 14.95% | 6.04% | 3.21% |
Correlation
The correlation between CNX1.L and QQQY.L is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024 | 0.62 |
The correlation between CNX1.L and QQQY.L has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
CNX1.L vs. QQQY.L — Risk / Return Rank
CNX1.L
QQQY.L
CNX1.L vs. QQQY.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 IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.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.
| CNX1.L | QQQY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.43 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 5.11 | -1.67 |
| Martin ratioReturn relative to average drawdown | 10.15 | 12.98 | -2.83 |
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 | QQQY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 2.35 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.63 | -0.60 |
Drawdowns
CNX1.L vs. QQQY.L - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, which is greater than QQQY.L's maximum drawdown of -22.98%. Use the drawdown chart below to compare losses from any high point for CNX1.L and QQQY.L.
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Drawdown Indicators
| CNX1.L | QQQY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -22.98% | -4.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -6.17% | -4.86% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | — | — |
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 | -2.56% | -1.33% | -1.23% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -5.39% | +0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 2.44% | +1.31% |
Volatility
CNX1.L vs. QQQY.L - Volatility Comparison
iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) and IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.L) have volatilities of 4.66% and 4.84%, 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 | QQQY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.66% | 4.84% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 10.41% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.85% | 13.41% | +1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.26% | 21.84% | +8.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.49% | 21.84% | +3.65% |
CNX1.L vs. QQQY.L - Expense Ratio Comparison
CNX1.L has a 0.36% expense ratio, which is lower than QQQY.L's 0.45% expense ratio.
Dividends
CNX1.L vs. QQQY.L - Dividend Comparison
CNX1.L has not paid dividends to shareholders, while QQQY.L's dividend yield for the trailing twelve months is around 68.52%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% |
QQQY.L IncomeShares Nasdaq 100 Options (0DTE) ETP | 68.52% | 120.63% | 8.51% |
Frequently Asked Questions
CNX1.L and QQQY.L have a correlation of 0.69, 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 0.45% for QQQY.L.
They also come from different issuers: iShares and Leverage Shares. Their fees differ too: 0.36% for CNX1.L and 0.45% for QQQY.L.
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