CNX1.L vs. QYLU.L
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and QYLU.L (Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc)) are both Nasdaq-100 funds - CNX1.L tracks the NASDAQ-100 Index while QYLU.L tracks the Cboe Nasdaq-100 BuyWrite v2 UCITS Index. Both are passively managed. Over the past 3 years, CNX1.L returned 21.45%/yr vs 10.24%/yr for QYLU.L. A 0.63 correlation means they provide meaningful diversification when combined. CNX1.L charges 0.36%/yr vs 0.45%/yr for QYLU.L.
Performance
CNX1.L vs. QYLU.L - Performance Comparison
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Different Trading Currencies
CNX1.L is traded in GBp, while QYLU.L is traded in USD. To make them comparable, the QYLU.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 12.52% return, which is significantly higher than QYLU.L's 5.02% return.
CNX1.L
- 1D
- -2.10%
- 1M
- -5.47%
- 6M
- 11.30%
- YTD
- 12.52%
- 1Y
- 23.82%
- 3Y*
- 21.45%
- 5Y*
- 15.15%
- 10Y*
- 20.27%
QYLU.L
- 1D
- -2.21%
- 1M
- -3.87%
- 6M
- 3.39%
- YTD
- 5.02%
- 1Y
- 16.20%
- 3Y*
- 10.24%
- 5Y*
- —
- 10Y*
- —
CNX1.L vs. QYLU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 12.52% | 11.57% | 28.51% | 47.71% | -8.15% |
QYLU.L Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc) | 5.02% | -1.93% | 25.08% | 16.46% | -3.80% |
Correlation
The correlation between CNX1.L and QYLU.L is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2022 | 0.63 |
The correlation between CNX1.L and QYLU.L shifts across timeframes, from 0.50 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CNX1.L vs. QYLU.L — Risk / Return Rank
CNX1.L
QYLU.L
CNX1.L vs. QYLU.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 Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc) (QYLU.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 | QYLU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 3.36 | -1.21 |
| Martin ratioReturn relative to average drawdown | 6.00 | 9.90 | -3.89 |
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Drawdowns
CNX1.L vs. QYLU.L - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, which is greater than QYLU.L's maximum drawdown of -22.59%. Use the drawdown chart below to compare losses from any high point for CNX1.L and QYLU.L.
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Drawdown Indicators
| CNX1.L | QYLU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -22.59% | -4.97% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -4.80% | -6.23% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -22.59% | -1.97% |
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 | -7.49% | -4.80% | -2.69% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -4.77% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 1.63% | +2.33% |
Volatility
CNX1.L vs. QYLU.L - Volatility Comparison
iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) has a higher volatility of 6.18% compared to Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc) (QYLU.L) at 5.47%. This indicates that CNX1.L's price experiences larger fluctuations and is considered to be riskier than QYLU.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 | QYLU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.18% | 5.47% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 12.58% | 10.10% | +2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.48% | 14.10% | +2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.43% | 16.17% | +14.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.51% | 16.17% | +9.34% |
CNX1.L vs. QYLU.L - Expense Ratio Comparison
CNX1.L has a 0.36% expense ratio, which is lower than QYLU.L's 0.45% expense ratio.
Dividends
CNX1.L vs. QYLU.L - Dividend Comparison
Neither CNX1.L nor QYLU.L has paid dividends to shareholders.
Frequently Asked Questions
CNX1.L and QYLU.L have a correlation of 0.50, 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 QYLU.L.
CNX1.L tracks NASDAQ-100 Index, while QYLU.L tracks Cboe Nasdaq-100 BuyWrite v2 UCITS Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.36% for CNX1.L and 0.45% for QYLU.L.
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