CNX1.L vs. WTCH.AS
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and WTCH.AS (SPDR MSCI World Technology UCITS ETF) are both exchange-traded funds - CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while WTCH.AS is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 10 years, CNX1.L returned 22.21%/yr vs 25.18%/yr for WTCH.AS. Their correlation of 0.90 suggests significant overlap in exposure. CNX1.L charges 0.36%/yr vs 0.30%/yr for WTCH.AS.
Performance
CNX1.L vs. WTCH.AS - Performance Comparison
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Different Trading Currencies
CNX1.L is traded in GBp, while WTCH.AS is traded in EUR. To make them comparable, the WTCH.AS 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 17.33% return, which is significantly lower than WTCH.AS's 24.46% return. Over the past 10 years, CNX1.L has underperformed WTCH.AS with an annualized return of 22.21%, while WTCH.AS has yielded a comparatively higher 25.18% annualized return.
CNX1.L
- 1D
- -0.16%
- 1M
- 3.85%
- YTD
- 17.33%
- 6M
- 15.28%
- 1Y
- 38.06%
- 3Y*
- 24.63%
- 5Y*
- 18.10%
- 10Y*
- 22.21%
WTCH.AS
- 1D
- -1.87%
- 1M
- 10.19%
- YTD
- 24.46%
- 6M
- 21.07%
- 1Y
- 51.62%
- 3Y*
- 29.42%
- 5Y*
- 22.65%
- 10Y*
- 25.18%
CNX1.L vs. WTCH.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 17.33% | 11.57% | 28.51% | 47.71% | -25.53% | 29.50% | 43.24% | 33.63% | 4.62% | 20.13% |
WTCH.AS SPDR MSCI World Technology UCITS ETF | 24.46% | 14.21% | 36.87% | 46.11% | -23.93% | 32.52% | 39.24% | 40.95% | 2.92% | 26.44% |
Correlation
The correlation between CNX1.L and WTCH.AS is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since May 4, 2016 | 0.90 |
The correlation between CNX1.L and WTCH.AS has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
CNX1.L vs. WTCH.AS — Risk / Return Rank
CNX1.L
WTCH.AS
CNX1.L vs. WTCH.AS - 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 SPDR MSCI World Technology UCITS ETF (WTCH.AS). 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 | WTCH.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.43 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 3.14 | +0.30 |
| Martin ratioReturn relative to average drawdown | 10.12 | 8.11 | +2.01 |
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 | WTCH.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.55 | 2.61 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 1.01 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 1.18 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 1.21 | -1.17 |
Drawdowns
CNX1.L vs. WTCH.AS - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, roughly equal to the maximum WTCH.AS drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for CNX1.L and WTCH.AS.
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Drawdown Indicators
| CNX1.L | WTCH.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -28.40% | +0.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -16.51% | +5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -28.40% | +3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | -28.40% | +0.84% |
Max Drawdown (10Y)Largest decline over 10 years | -27.56% | -28.40% | +0.84% |
Current DrawdownCurrent decline from peak | -2.72% | -2.31% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -5.65% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 6.43% | -2.68% |
Volatility
CNX1.L vs. WTCH.AS - Volatility Comparison
The current volatility for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) is 4.62%, while SPDR MSCI World Technology UCITS ETF (WTCH.AS) has a volatility of 7.18%. This indicates that CNX1.L experiences smaller price fluctuations and is considered to be less risky than WTCH.AS 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 | WTCH.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 7.18% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 14.59% | -4.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.87% | 19.86% | -4.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.27% | 21.94% | +8.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.50% | 21.24% | +4.26% |
CNX1.L vs. WTCH.AS - Expense Ratio Comparison
CNX1.L has a 0.36% expense ratio, which is higher than WTCH.AS's 0.30% expense ratio.
Dividends
CNX1.L vs. WTCH.AS - Dividend Comparison
Neither CNX1.L nor WTCH.AS has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.90, CNX1.L and WTCH.AS 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, WTCH.AS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WTCH.AS is cheaper with a 0.30% expense ratio, compared with 0.36% for CNX1.L.
CNX1.L is categorized as Nasdaq-100, while WTCH.AS is Technology Equities. CNX1.L tracks NASDAQ-100 Index, while WTCH.AS tracks MSCI World/Information Tech NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.36% for CNX1.L and 0.30% for WTCH.AS.
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