PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
DBAW vs. CNX1.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DBAW vs. CNX1.L

Last updated Jun 14, 2026

DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both exchange-traded funds - DBAW is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA US Dollar Hedged Index, while CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, DBAW returned 11.82%/yr vs 21.57%/yr for CNX1.L. A 0.50 correlation means they provide meaningful diversification when combined. DBAW charges 0.41%/yr vs 0.36%/yr for CNX1.L.

Performance

DBAW vs. CNX1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

DBAW is traded in USD, while CNX1.L is traded in GBp. To make them comparable, the CNX1.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DBAW achieves a 15.48% return, which is significantly lower than CNX1.L's 16.61% return. Over the past 10 years, DBAW has underperformed CNX1.L with an annualized return of 11.82%, while CNX1.L has yielded a comparatively higher 21.57% annualized return.

DBAW

1D
0.38%
1M
2.00%
YTD
15.48%
6M
16.97%
1Y
35.54%
3Y*
20.40%
5Y*
11.16%
10Y*
11.82%

CNX1.L

1D
2.30%
1M
0.52%
YTD
16.61%
6M
17.70%
1Y
36.63%
3Y*
26.16%
5Y*
16.63%
10Y*
21.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DBAW vs. CNX1.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		15.48%26.47%14.35%16.26%-13.35%13.08%7.44%22.96%-10.38%18.79%
CNX1.L
iShares NASDAQ 100 UCITS ETF USD (Acc)		16.61%19.98%26.37%55.50%-33.49%28.32%47.63%38.99%-1.30%31.56%

Correlation

The correlation between DBAW and CNX1.L is 0.57, 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

0.57

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

0.49

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

0.53

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

0.52

Correlation (All Time)
Calculated using the full available price history since Jan 27, 2014

0.50

The correlation between DBAW and CNX1.L has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.

DBAW vs. CNX1.L - Sectors Allocation Comparison

Sectors
DBAW
CNX1.L

Financial Services

23.2%
0.2%

Technology

22.4%
60.0%

Industrials

14.3%
2.8%

Consumer Cyclical

7.6%
10.8%

Basic Materials

6.9%
1.0%

Healthcare

6.8%
3.6%

Consumer Defensive

5.0%
6.4%

Communication Services

4.9%
13.5%

Energy

4.8%
0.5%

Utilities

2.9%
1.1%

Real Estate

1.4%
0.1%

Financial Services

DBAW
23.2%
CNX1.L
0.2%

Technology

DBAW
22.4%
CNX1.L
60.0%

Industrials

DBAW
14.3%
CNX1.L
2.8%

Consumer Cyclical

DBAW
7.6%
CNX1.L
10.8%

Basic Materials

DBAW
6.9%
CNX1.L
1.0%

Healthcare

DBAW
6.8%
CNX1.L
3.6%

Consumer Defensive

DBAW
5.0%
CNX1.L
6.4%

Communication Services

DBAW
4.9%
CNX1.L
13.5%

Energy

DBAW
4.8%
CNX1.L
0.5%

Utilities

DBAW
2.9%
CNX1.L
1.1%

Real Estate

DBAW
1.4%
CNX1.L
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers MSCI All World ex US Hedged Equity ETF

iShares NASDAQ 100 UCITS ETF USD (Acc)

Often compared with DBAW:
DBAW vs. HAWXDBAW vs. HFXIDBAW vs. MDIJXDBAW vs. GSIEDBAW vs. BROIXDBAW vs. BKIEDBAW vs. DXJ
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

Return for Risk

DBAW vs. CNX1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DBAW
DBAW Risk / Return Rank: 8686
Overall Rank
DBAW Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
DBAW Sortino Ratio Rank: 8686
Sortino Ratio Rank
DBAW Omega Ratio Rank: 8989
Omega Ratio Rank
DBAW Calmar Ratio Rank: 8282
Calmar Ratio Rank
DBAW Martin Ratio Rank: 8585
Martin Ratio Rank
CNX1.L
CNX1.L Risk / Return Rank: 7878
Overall Rank
CNX1.L Sharpe Ratio Rank: 8787
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: 7676
Calmar Ratio Rank
CNX1.L Martin Ratio Rank: 6363
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.

DBAW vs. CNX1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.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.

DBAWCNX1.LDifference
Sharpe ratioReturn per unit of total volatility
2.50
2.21

+0.30

Sortino ratioReturn per unit of downside risk
3.40
3.03

+0.37

Omega ratioGain probability vs. loss probability

1.49

1.37

+0.11

Calmar ratioReturn relative to maximum drawdown

3.80

3.21

+0.60

Martin ratioReturn relative to average drawdown

15.48

11.41

+4.06

DBAW vs. CNX1.L - Sharpe Ratio Comparison

The current DBAW Sharpe Ratio is 2.50, which is comparable to the CNX1.L Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of DBAW and CNX1.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.

Loading charts...

Drawdowns

DBAW vs. CNX1.L - Drawdown Comparison

The maximum DBAW drawdown since its inception was -31.44%, smaller than the maximum CNX1.L drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for DBAW and CNX1.L.

Loading charts...

Drawdown Indicators

DBAWCNX1.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.44%

-35.21%

+3.77%

Max Drawdown (1Y)

Largest decline over 1 year

-9.00%

-10.99%

+1.99%

Max Drawdown (3Y)

Largest decline over 3 years

-14.11%

-23.11%

+9.00%

Max Drawdown (5Y)

Largest decline over 5 years

-17.87%

-35.21%

+17.34%

Max Drawdown (10Y)

Largest decline over 10 years

-31.44%

-35.21%

+3.77%

Current Drawdown

Current decline from peak

-1.06%

-3.21%

+2.15%

Average Drawdown

Average peak-to-trough decline

-4.99%

-5.49%

+0.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.21%

3.09%

-0.88%

Volatility

DBAW vs. CNX1.L - Volatility Comparison

Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) have volatilities of 5.87% and 5.74%, 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.

Loading charts...

Volatility by Period

DBAWCNX1.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.87%

5.74%

+0.13%

Volatility (6M)

Calculated over the trailing 6-month period

11.93%

12.13%

-0.20%

Volatility (1Y)

Calculated over the trailing 1-year period

13.66%

15.97%

-2.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.88%

31.46%

-17.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.31%

26.06%

-10.75%

DBAW vs. CNX1.L - Expense Ratio Comparison

DBAW has a 0.41% expense ratio, which is higher than CNX1.L's 0.36% expense ratio.

Dividends

DBAW vs. CNX1.L - Dividend Comparison

DBAW's dividend yield for the trailing twelve months is around 3.31%, while CNX1.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CNX1.L
iShares NASDAQ 100 UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		3.31%3.83%1.70%3.45%8.81%2.05%2.08%2.91%2.93%2.41%1.99%5.74%

Frequently Asked Questions

DBAW and CNX1.L have a correlation of 0.57, 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 0.41% for DBAW.

DBAW is categorized as Foreign Large Cap Equities, while CNX1.L is Nasdaq-100. DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index, while CNX1.L tracks NASDAQ-100 Index. They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.41% for DBAW and 0.36% for CNX1.L.

Portfolio Optimizer

Find the right allocation for DBAW and CNX1.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer