IGV vs. CDNS
IGV (iShares Expanded Tech-Software Sector ETF) is Technology Equities fund tracking the S&P North American Expanded Technology Software Index, while CDNS (Cadence Design Systems, Inc.) is a stock. Over the past 10 years, IGV returned 15.87%/yr vs 31.77%/yr for CDNS. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
IGV vs. CDNS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IGV achieves a -14.18% return, which is significantly lower than CDNS's 23.16% return. Over the past 10 years, IGV has underperformed CDNS with an annualized return of 15.87%, while CDNS has yielded a comparatively higher 31.77% annualized return.
IGV
- 1D
- -0.24%
- 1M
- 2.37%
- YTD
- -14.18%
- 6M
- -16.00%
- 1Y
- -15.27%
- 3Y*
- 10.04%
- 5Y*
- 3.91%
- 10Y*
- 15.87%
CDNS
- 1D
- 0.32%
- 1M
- 8.58%
- YTD
- 23.16%
- 6M
- 19.10%
- 1Y
- 25.05%
- 3Y*
- 17.22%
- 5Y*
- 24.39%
- 10Y*
- 31.77%
IGV vs. CDNS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | -14.18% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 52.86% | 34.33% | 12.44% | 42.16% |
CDNS Cadence Design Systems, Inc. | 23.16% | 4.03% | 10.31% | 69.55% | -13.80% | 36.59% | 96.70% | 59.52% | 3.97% | 65.82% |
Correlation
The correlation between IGV and CDNS is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2001 | 0.69 |
The correlation between IGV and CDNS shifts across timeframes, from 0.64 (1 year) to 0.77 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IGV vs. CDNS — Risk / Return Rank
IGV
CDNS
IGV vs. CDNS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ETF (IGV) and Cadence Design Systems, Inc. (CDNS). 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.
| IGV | CDNS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.15 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 0.87 | -1.29 |
| Martin ratioReturn relative to average drawdown | -0.87 | 1.84 | -2.72 |
Loading charts...
Drawdowns
IGV vs. CDNS - Drawdown Comparison
The maximum IGV drawdown since its inception was -63.45%, smaller than the maximum CDNS drawdown of -93.13%. Use the drawdown chart below to compare losses from any high point for IGV and CDNS.
Loading charts...
Drawdown Indicators
| IGV | CDNS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.45% | -93.13% | +29.68% |
Max Drawdown (1Y)Largest decline over 1 year | -36.61% | -28.85% | -7.76% |
Max Drawdown (3Y)Largest decline over 3 years | -36.61% | -29.05% | -7.56% |
Max Drawdown (5Y)Largest decline over 5 years | -45.85% | -29.59% | -16.26% |
Max Drawdown (10Y)Largest decline over 10 years | -45.85% | -32.12% | -13.73% |
Current DrawdownCurrent decline from peak | -23.00% | -7.55% | -15.45% |
Average DrawdownAverage peak-to-trough decline | -14.45% | -39.62% | +25.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.55% | 13.63% | +3.92% |
Volatility
IGV vs. CDNS - Volatility Comparison
The current volatility for iShares Expanded Tech-Software Sector ETF (IGV) is 12.57%, while Cadence Design Systems, Inc. (CDNS) has a volatility of 16.52%. This indicates that IGV experiences smaller price fluctuations and is considered to be less risky than CDNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGV | CDNS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.57% | 16.52% | -3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 24.80% | 31.73% | -6.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.06% | 38.94% | -10.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.92% | 36.17% | -8.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.39% | 34.12% | -7.73% |
Dividends
IGV vs. CDNS - Dividend Comparison
Neither IGV nor CDNS has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDNS Cadence Design Systems, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGV iShares Expanded Tech-Software Sector ETF | 0.00% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.35% | 0.02% | 0.16% | 0.09% | 0.82% | 0.22% |
Frequently Asked Questions
IGV and CDNS have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDNS has higher volatility (16.52%) compared to IGV (12.57%). In terms of maximum drawdown, IGV dropped -63.45% vs CDNS's -93.13%.
CDNS currently has the higher Sharpe Ratio (0.65 vs -0.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for IGV and CDNS
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