CNX1.L vs. VVSM.DE
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and VVSM.DE (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while VVSM.DE is a Semiconductors fund tracking the MVIS US Listed Semiconductor 10% Capped ESG Index. Both are passively managed. Over the past 5 years, CNX1.L returned 17.86%/yr vs 38.55%/yr for VVSM.DE. A 0.79 correlation means they provide meaningful diversification when combined. CNX1.L charges 0.36%/yr vs 0.35%/yr for VVSM.DE.
Performance
CNX1.L vs. VVSM.DE - Performance Comparison
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Different Trading Currencies
CNX1.L is traded in GBp, while VVSM.DE is traded in EUR. To make them comparable, the VVSM.DE 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 lower than VVSM.DE's 86.77% return.
CNX1.L
- 1D
- 2.47%
- 1M
- 0.79%
- YTD
- 17.14%
- 6M
- 17.43%
- 1Y
- 38.31%
- 3Y*
- 23.65%
- 5Y*
- 17.86%
- 10Y*
- 22.20%
VVSM.DE
- 1D
- 5.76%
- 1M
- 13.64%
- YTD
- 86.77%
- 6M
- 91.12%
- 1Y
- 168.24%
- 3Y*
- 55.53%
- 5Y*
- 38.55%
- 10Y*
- —
CNX1.L vs. VVSM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 17.14% | 11.57% | 28.51% | 47.71% | -25.53% | 29.50% | 3.57% |
VVSM.DE VanEck Semiconductor UCITS ETF | 86.77% | 40.16% | 25.74% | 66.80% | -29.11% | 47.21% | -15.47% |
Correlation
The correlation between CNX1.L and VVSM.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020 | 0.79 |
The correlation between CNX1.L and VVSM.DE has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.
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Return for Risk
CNX1.L vs. VVSM.DE — Risk / Return Rank
CNX1.L
VVSM.DE
CNX1.L vs. VVSM.DE - 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 VanEck Semiconductor UCITS ETF (VVSM.DE). 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 | VVSM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.66 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 14.17 | -10.77 |
| Martin ratioReturn relative to average drawdown | 9.86 | 46.21 | -36.35 |
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Drawdowns
CNX1.L vs. VVSM.DE - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, smaller than the maximum VVSM.DE drawdown of -36.84%. Use the drawdown chart below to compare losses from any high point for CNX1.L and VVSM.DE.
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Drawdown Indicators
| CNX1.L | VVSM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -36.84% | +9.28% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -11.58% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -36.84% | +12.28% |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | -36.84% | +9.28% |
Max Drawdown (10Y)Largest decline over 10 years | -27.56% | — | — |
Current DrawdownCurrent decline from peak | -2.87% | -1.48% | -1.39% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -10.40% | +5.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 3.56% | +0.24% |
Volatility
CNX1.L vs. VVSM.DE - Volatility Comparison
The current volatility for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) is 5.76%, while VanEck Semiconductor UCITS ETF (VVSM.DE) has a volatility of 13.64%. This indicates that CNX1.L experiences smaller price fluctuations and is considered to be less risky than VVSM.DE 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 | VVSM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 13.64% | -7.88% |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | 25.76% | -14.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.31% | 32.61% | -17.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.31% | 30.96% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.51% | 31.50% | -5.99% |
CNX1.L vs. VVSM.DE - Expense Ratio Comparison
CNX1.L has a 0.36% expense ratio, which is higher than VVSM.DE's 0.35% expense ratio.
Dividends
CNX1.L vs. VVSM.DE - Dividend Comparison
Neither CNX1.L nor VVSM.DE has paid dividends to shareholders.
Frequently Asked Questions
CNX1.L and VVSM.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VVSM.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VVSM.DE is cheaper with a 0.35% expense ratio, compared with 0.36% for CNX1.L.
CNX1.L is categorized as Nasdaq-100, while VVSM.DE is Semiconductors. CNX1.L tracks NASDAQ-100 Index, while VVSM.DE tracks MVIS US Listed Semiconductor 10% Capped ESG Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.36% for CNX1.L and 0.35% for VVSM.DE.
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