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CNX1.L vs. XLKQ.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CNX1.L vs. XLKQ.L

Last updated Jun 9, 2026

CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) are both exchange-traded funds - CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while XLKQ.L is a Technology Equities fund tracking the S&P Select Sector Capped 20% Technology Index. Both are passively managed. Over the past 10 years, CNX1.L returned 22.21%/yr vs 26.77%/yr for XLKQ.L. Their correlation of 0.88 suggests significant overlap in exposure. CNX1.L charges 0.36%/yr vs 0.14%/yr for XLKQ.L.

Performance

CNX1.L vs. XLKQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) and Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CNX1.L achieves a 17.33% return, which is significantly lower than XLKQ.L's 20.44% return. Over the past 10 years, CNX1.L has underperformed XLKQ.L with an annualized return of 22.21%, while XLKQ.L has yielded a comparatively higher 26.77% 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%

XLKQ.L

1D
-0.03%
1M
6.65%
YTD
20.44%
6M
17.20%
1Y
49.26%
3Y*
32.80%
5Y*
25.71%
10Y*
26.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CNX1.L vs. XLKQ.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XLKQ.L
Invesco Technology S&P US Select Sector UCITS ETF GBP Acc		20.44%15.76%44.03%51.84%-20.58%36.28%37.93%44.38%2.54%21.82%

Correlation

The correlation between CNX1.L and XLKQ.L is 0.93, 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

0.93

Correlation (3Y)
Calculated over the trailing 3-year period

0.94

Correlation (5Y)
Calculated over the trailing 5-year period

0.94

Correlation (10Y)
Calculated over the trailing 10-year period

0.95

Correlation (All Time)
Calculated using the full available price history since Jan 27, 2010

0.88

The correlation between CNX1.L and XLKQ.L has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

CNX1.L vs. XLKQ.L - Sectors Allocation Comparison

Sectors
CNX1.L
XLKQ.L

Technology

57.9%
91.2%

Communication Services

14.5%

-

Consumer Cyclical

11.6%

-

Consumer Defensive

6.6%

-

Healthcare

3.7%

-

Industrials

2.8%
1.5%

Utilities

1.2%

-

Basic Materials

1.0%

-

Energy

0.5%

-

Financial Services

0.2%
7.3%

Real Estate

0.1%

-

Technology

CNX1.L
57.9%
XLKQ.L
91.2%

Communication Services

CNX1.L
14.5%
XLKQ.L

-

Consumer Cyclical

CNX1.L
11.6%
XLKQ.L

-

Consumer Defensive

CNX1.L
6.6%
XLKQ.L

-

Healthcare

CNX1.L
3.7%
XLKQ.L

-

Industrials

CNX1.L
2.8%
XLKQ.L
1.5%

Utilities

CNX1.L
1.2%
XLKQ.L

-

Basic Materials

CNX1.L
1.0%
XLKQ.L

-

Energy

CNX1.L
0.5%
XLKQ.L

-

Financial Services

CNX1.L
0.2%
XLKQ.L
7.3%

Real Estate

CNX1.L
0.1%
XLKQ.L

-

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iShares NASDAQ 100 UCITS ETF USD (Acc)

Invesco Technology S&P US Select Sector UCITS ETF GBP Acc

Often compared with CNX1.L:
CNX1.L vs. CNDX.LCNX1.L vs. EQQQ.LCNX1.L vs. IITU.LCNX1.L vs. EQGB.LCNX1.L vs. QQQCNX1.L vs. XNAQ.LCNX1.L vs. SXRV.DE
Often compared with XLKQ.L:
XLKQ.L vs. XLKXLKQ.L vs. IITU.LXLKQ.L vs. XLKS.LXLKQ.L vs. IUIT.LXLKQ.L vs. SMGB.LXLKQ.L vs. XNAQ.LXLKQ.L vs. VUAG.L

Return for Risk

CNX1.L vs. XLKQ.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CNX1.L
CNX1.L Risk / Return Rank: 7878
Overall Rank
CNX1.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
CNX1.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
CNX1.L Omega Ratio Rank: 8383
Omega Ratio Rank
CNX1.L Calmar Ratio Rank: 7575
Calmar Ratio Rank
CNX1.L Martin Ratio Rank: 6262
Martin Ratio Rank
XLKQ.L
XLKQ.L Risk / Return Rank: 7272
Overall Rank
XLKQ.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XLKQ.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
XLKQ.L Omega Ratio Rank: 7878
Omega Ratio Rank
XLKQ.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
XLKQ.L Martin Ratio Rank: 4949
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNX1.L vs. XLKQ.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 Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.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.LXLKQ.LDifference
Sharpe ratioReturn per unit of total volatility
2.55
2.53

+0.02

Sortino ratioReturn per unit of downside risk
3.39
3.25

+0.14

Omega ratioGain probability vs. loss probability

1.45

1.41

+0.03

Calmar ratioReturn relative to maximum drawdown

3.44

2.93

+0.51

Martin ratioReturn relative to average drawdown

10.12

7.59

+2.52

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNX1.L vs. XLKQ.L - Sharpe Ratio Comparison

The current CNX1.L Sharpe Ratio is 2.55, which is comparable to the XLKQ.L Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of CNX1.L and XLKQ.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CNX1.LXLKQ.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.55

2.53

+0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

0.98

-0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.87

1.14

-0.27

Sharpe Ratio (All Time)

Calculated using the full available price history

0.04

0.80

-0.77

Drawdowns

CNX1.L vs. XLKQ.L - Drawdown Comparison

The maximum CNX1.L drawdown since its inception was -27.56%, smaller than the maximum XLKQ.L drawdown of -38.43%. Use the drawdown chart below to compare losses from any high point for CNX1.L and XLKQ.L.

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Drawdown Indicators

CNX1.LXLKQ.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.56%

-38.43%

+10.87%

Max Drawdown (1Y)

Largest decline over 1 year

-11.03%

-16.76%

+5.73%

Max Drawdown (3Y)

Largest decline over 3 years

-24.56%

-28.74%

+4.18%

Max Drawdown (5Y)

Largest decline over 5 years

-27.56%

-28.74%

+1.18%

Max Drawdown (10Y)

Largest decline over 10 years

-27.56%

-28.74%

+1.18%

Current Drawdown

Current decline from peak

-2.72%

-5.48%

+2.76%

Average Drawdown

Average peak-to-trough decline

-4.91%

-8.08%

+3.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.75%

6.47%

-2.72%

Volatility

CNX1.L vs. XLKQ.L - Volatility Comparison

The current volatility for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) is 4.62%, while Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) has a volatility of 7.40%. This indicates that CNX1.L experiences smaller price fluctuations and is considered to be less risky than XLKQ.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.LXLKQ.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.62%

7.40%

-2.78%

Volatility (6M)

Calculated over the trailing 6-month period

10.57%

14.52%

-3.95%

Volatility (1Y)

Calculated over the trailing 1-year period

14.87%

19.43%

-4.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.27%

26.15%

+4.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.50%

23.38%

+2.12%

CNX1.L vs. XLKQ.L - Expense Ratio Comparison

CNX1.L has a 0.36% expense ratio, which is higher than XLKQ.L's 0.14% expense ratio.

Dividends

CNX1.L vs. XLKQ.L - Dividend Comparison

Neither CNX1.L nor XLKQ.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.93, CNX1.L and XLKQ.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, XLKQ.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XLKQ.L is cheaper with a 0.14% expense ratio, compared with 0.36% for CNX1.L.

CNX1.L is categorized as Nasdaq-100, while XLKQ.L is Technology Equities. CNX1.L tracks NASDAQ-100 Index, while XLKQ.L tracks S&P Select Sector Capped 20% Technology Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.36% for CNX1.L and 0.14% for XLKQ.L.

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