ICE vs. NDAQ

Last updated Apr 1, 2026

Compare and contrast key facts about Intercontinental Exchange, Inc. (ICE) and Nasdaq, Inc. (NDAQ).

Performance

ICE vs. NDAQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intercontinental Exchange, Inc. (ICE) and Nasdaq, Inc. (NDAQ). The values are adjusted to include any dividend payments, if applicable.

ICE vs. NDAQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICE Intercontinental Exchange, Inc.	-2.58%	9.92%	17.46%	27.12%	-23.91%	19.94%	26.15%	24.47%	8.11%	26.60%
NDAQ Nasdaq, Inc.	-12.32%	27.19%	34.85%	-3.66%	-11.19%	60.13%	25.99%	33.88%	8.21%	16.76%

Fundamentals

Market Cap ICE : $89.83B NDAQ : $48.94B
EPS ICE : $5.76 NDAQ : $3.09
PE Ratio ICE : 27.29 NDAQ : 27.43
PEG Ratio ICE : 3.29 NDAQ : 2.64
PS Ratio ICE : 7.14 NDAQ : 5.97
PB Ratio ICE : 3.11 NDAQ : 4.00
Total Revenue (TTM) ICE : $12.64B NDAQ : $8.22B
Gross Profit (TTM) ICE : $7.82B NDAQ : $3.94B
EBITDA (TTM) ICE : $6.66B NDAQ : $3.13B

Returns By Period

In the year-to-date period, ICE achieves a -2.58% return, which is significantly higher than NDAQ's -12.32% return. Over the past 10 years, ICE has underperformed NDAQ with an annualized return of 14.25%, while NDAQ has yielded a comparatively higher 16.29% annualized return.

ICE

• 1D: 0.22%
• 1M: -3.86%
• YTD: -2.58%
• 6M: -6.07%
• 1Y: -7.75%
• 3Y*: 16.13%
• 5Y*: 7.99%
• 10Y*: 14.25%

NDAQ

• 1D: 1.64%
• 1M: -2.76%
• YTD: -12.32%
• 6M: -3.43%
• 1Y: 13.26%
• 3Y*: 17.43%
• 5Y*: 12.56%
• 10Y*: 16.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ICE vs. NDAQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICE

ICE Risk / Return Rank: 26
ICE Sharpe Ratio Rank: 26
ICE Sortino Ratio Rank: 23
ICE Omega Ratio Rank: 23
ICE Calmar Ratio Rank: 30
ICE Martin Ratio Rank: 29

NDAQ

NDAQ Risk / Return Rank: 57
NDAQ Sharpe Ratio Rank: 60
NDAQ Sortino Ratio Rank: 52
NDAQ Omega Ratio Rank: 54
NDAQ Calmar Ratio Rank: 58
NDAQ Martin Ratio Rank: 61

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.

ICE vs. NDAQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intercontinental Exchange, Inc. (ICE) and Nasdaq, Inc. (NDAQ). 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.

	ICE	NDAQ	Difference
Sharpe ratio Return per unit of total volatility	-0.35	0.50	-0.85
Sortino ratio Return per unit of downside risk	-0.32	0.82	-1.13
Omega ratio Gain probability vs. loss probability	0.96	1.12	-0.17
Calmar ratio Return relative to maximum drawdown	-0.40	0.68	-1.07
Martin ratio Return relative to average drawdown	-0.79	1.80	-2.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICE vs. NDAQ - Sharpe Ratio Comparison

The current ICE Sharpe Ratio is -0.35, which is lower than the NDAQ Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of ICE and NDAQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ICE	NDAQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.35	0.50	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.53	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.68	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.37	+0.07

Correlation

The correlation between ICE and NDAQ is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ICE vs. NDAQ - Dividend Comparison

ICE's dividend yield for the trailing twelve months is around 1.25%, less than NDAQ's 1.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICE Intercontinental Exchange, Inc.	1.25%	1.19%	1.21%	1.31%	1.48%	0.97%	1.04%	1.19%	1.27%	1.13%	1.21%	1.13%
NDAQ Nasdaq, Inc.	1.27%	1.08%	1.22%	1.48%	1.27%	1.00%	1.46%	1.73%	2.08%	1.90%	1.80%	1.55%

Drawdowns

ICE vs. NDAQ - Drawdown Comparison

The maximum ICE drawdown since its inception was -73.94%, which is greater than NDAQ's maximum drawdown of -68.48%. Use the drawdown chart below to compare losses from any high point for ICE and NDAQ.

Drawdown Indicators

	ICE	NDAQ	Difference
Max Drawdown Largest peak-to-trough decline	-73.94%	-68.48%	-5.46%
Max Drawdown (1Y) Largest decline over 1 year	-22.53%	-21.76%	-0.77%
Max Drawdown (5Y) Largest decline over 5 years	-34.32%	-32.84%	-1.48%
Max Drawdown (10Y) Largest decline over 10 years	-34.32%	-38.31%	+3.99%
Current Drawdown Current decline from peak	-15.79%	-15.67%	-0.12%
Average Drawdown Average peak-to-trough decline	-16.46%	-23.91%	+7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.33%	8.18%	+3.15%

Volatility

ICE vs. NDAQ - Volatility Comparison

Intercontinental Exchange, Inc. (ICE) and Nasdaq, Inc. (NDAQ) have volatilities of 6.73% and 6.76%, 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.

Volatility by Period

	ICE	NDAQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	6.76%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	18.34%	19.28%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	22.40%	26.65%	-4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.83%	23.67%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.19%	24.11%	-1.92%

Financials

ICE vs. NDAQ - Profitability Comparison

The chart below illustrates the profitability comparison between Intercontinental Exchange, Inc. and Nasdaq, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ICE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Intercontinental Exchange, Inc. reported a gross profit of 2.50B and revenue of 3.14B. Therefore, the gross margin over that period was 79.8%.

NDAQ - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported a gross profit of 1.39B and revenue of 2.08B. Therefore, the gross margin over that period was 66.9%.

ICE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Intercontinental Exchange, Inc. reported an operating income of 1.20B and revenue of 3.14B, resulting in an operating margin of 38.3%.

NDAQ - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported an operating income of 630.00M and revenue of 2.08B, resulting in an operating margin of 30.3%.

ICE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Intercontinental Exchange, Inc. reported a net income of 840.00M and revenue of 3.14B, resulting in a net margin of 26.8%.

NDAQ - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported a net income of 519.00M and revenue of 2.08B, resulting in a net margin of 25.0%.