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IEUR vs. CNDX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEUR vs. CNDX.L

Last updated Jun 14, 2026

IEUR (iShares Core MSCI Europe ETF) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index, while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, IEUR returned 10.11%/yr vs 21.60%/yr for CNDX.L. At a 0.44 correlation, their price movements are largely independent. IEUR charges 0.09%/yr vs 0.33%/yr for CNDX.L.

Performance

IEUR vs. CNDX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Europe ETF (IEUR) and iShares NASDAQ 100 UCITS ETF (CNDX.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, IEUR achieves a 7.65% return, which is significantly lower than CNDX.L's 16.86% return. Over the past 10 years, IEUR has underperformed CNDX.L with an annualized return of 10.11%, while CNDX.L has yielded a comparatively higher 21.60% annualized return.

IEUR

1D
0.14%
1M
2.40%
YTD
7.65%
6M
9.78%
1Y
19.09%
3Y*
16.42%
5Y*
8.26%
10Y*
10.11%

CNDX.L

1D
3.01%
1M
0.15%
YTD
16.86%
6M
18.12%
1Y
36.58%
3Y*
26.24%
5Y*
16.67%
10Y*
21.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEUR vs. CNDX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEUR
iShares Core MSCI Europe ETF		7.65%35.67%1.40%19.71%-15.90%16.71%5.31%24.95%-14.86%26.70%
CNDX.L
iShares NASDAQ 100 UCITS ETF		16.86%19.75%26.42%56.22%-33.49%27.92%48.25%37.96%-1.08%31.91%

Correlation

The correlation between IEUR and CNDX.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

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

0.36

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

0.43

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

0.44

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.44

IEUR vs. CNDX.L - Sectors Allocation Comparison

Sectors
IEUR
CNDX.L

Financial Services

22.5%
0.2%

Industrials

20.3%
2.8%

Healthcare

12.5%
3.6%

Technology

9.4%
60.0%

Consumer Defensive

7.7%
6.4%

Consumer Cyclical

7.0%
10.8%

Basic Materials

5.8%
1.0%

Energy

4.9%
0.5%

Utilities

4.4%
1.1%

Communication Services

3.9%
13.5%

Real Estate

1.5%
0.1%

Financial Services

IEUR
22.5%
CNDX.L
0.2%

Industrials

IEUR
20.3%
CNDX.L
2.8%

Healthcare

IEUR
12.5%
CNDX.L
3.6%

Technology

IEUR
9.4%
CNDX.L
60.0%

Consumer Defensive

IEUR
7.7%
CNDX.L
6.4%

Consumer Cyclical

IEUR
7.0%
CNDX.L
10.8%

Basic Materials

IEUR
5.8%
CNDX.L
1.0%

Energy

IEUR
4.9%
CNDX.L
0.5%

Utilities

IEUR
4.4%
CNDX.L
1.1%

Communication Services

IEUR
3.9%
CNDX.L
13.5%

Real Estate

IEUR
1.5%
CNDX.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.

iShares Core MSCI Europe ETF

iShares NASDAQ 100 UCITS ETF

Often compared with IEUR:
IEUR vs. VGKIEUR vs. IEVIEUR vs. IMEU.LIEUR vs. FEZIEUR vs. EZUIEUR vs. VOOIEUR vs. EFA
Often compared with CNDX.L:
CNDX.L vs. QQQCNDX.L vs. EQQQ.DECNDX.L vs. SXRV.DECNDX.L vs. CNX1.LCNDX.L vs. CSPX.LCNDX.L vs. EQQU.LCNDX.L vs. VWRA.L

Return for Risk

IEUR vs. CNDX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEUR
IEUR Risk / Return Rank: 3535
Overall Rank
IEUR Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IEUR Sortino Ratio Rank: 3535
Sortino Ratio Rank
IEUR Omega Ratio Rank: 3333
Omega Ratio Rank
IEUR Calmar Ratio Rank: 3333
Calmar Ratio Rank
IEUR Martin Ratio Rank: 3939
Martin Ratio Rank
CNDX.L
CNDX.L Risk / Return Rank: 7575
Overall Rank
CNDX.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
CNDX.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
CNDX.L Omega Ratio Rank: 7474
Omega Ratio Rank
CNDX.L Calmar Ratio Rank: 7373
Calmar Ratio Rank
CNDX.L Martin Ratio Rank: 7070
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.

IEUR vs. CNDX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe ETF (IEUR) and iShares NASDAQ 100 UCITS ETF (CNDX.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.

IEURCNDX.LDifference
Sharpe ratioReturn per unit of total volatility
1.10
2.17

-1.07

Sortino ratioReturn per unit of downside risk
1.64
3.03

-1.40

Omega ratioGain probability vs. loss probability

1.20

1.38

-0.18

Calmar ratioReturn relative to maximum drawdown

1.44

3.24

-1.80

Martin ratioReturn relative to average drawdown

5.40

11.35

-5.94

IEUR vs. CNDX.L - Sharpe Ratio Comparison

The current IEUR Sharpe Ratio is 1.10, which is lower than the CNDX.L Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of IEUR and CNDX.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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Drawdowns

IEUR vs. CNDX.L - Drawdown Comparison

The maximum IEUR drawdown since its inception was -36.96%, roughly equal to the maximum CNDX.L drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for IEUR and CNDX.L.

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Drawdown Indicators

IEURCNDX.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.96%

-35.21%

-1.75%

Max Drawdown (1Y)

Largest decline over 1 year

-12.04%

-11.00%

-1.04%

Max Drawdown (3Y)

Largest decline over 3 years

-14.25%

-22.44%

+8.19%

Max Drawdown (5Y)

Largest decline over 5 years

-32.75%

-35.21%

+2.46%

Max Drawdown (10Y)

Largest decline over 10 years

-36.96%

-35.21%

-1.75%

Current Drawdown

Current decline from peak

-0.44%

-3.08%

+2.64%

Average Drawdown

Average peak-to-trough decline

-8.21%

-5.13%

-3.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.22%

3.15%

+0.07%

Volatility

IEUR vs. CNDX.L - Volatility Comparison

The current volatility for iShares Core MSCI Europe ETF (IEUR) is 5.70%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 6.21%. This indicates that IEUR experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEURCNDX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.70%

6.21%

-0.51%

Volatility (6M)

Calculated over the trailing 6-month period

13.31%

12.72%

+0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

15.83%

16.44%

-0.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.81%

20.99%

-3.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.68%

20.12%

-1.44%

IEUR vs. CNDX.L - Expense Ratio Comparison

IEUR has a 0.09% expense ratio, which is lower than CNDX.L's 0.33% expense ratio.

Dividends

IEUR vs. CNDX.L - Dividend Comparison

IEUR's dividend yield for the trailing twelve months is around 2.76%, while CNDX.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CNDX.L
iShares NASDAQ 100 UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IEUR
iShares Core MSCI Europe ETF		2.76%2.97%3.54%3.17%3.05%2.88%2.13%3.26%3.76%2.64%3.19%2.79%

Frequently Asked Questions

IEUR and CNDX.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEUR is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEUR is cheaper with a 0.09% expense ratio, compared with 0.33% for CNDX.L.

IEUR is categorized as Europe Equities, while CNDX.L is Nasdaq-100. IEUR tracks MSCI Europe Investable Market Index, while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.09% for IEUR and 0.33% for CNDX.L.

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