INAA.AS vs. CNDX.AS
INAA.AS (iShares MSCI North America UCITS ETF) and CNDX.AS (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - INAA.AS is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while CNDX.AS is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, INAA.AS returned 14.31%/yr vs 21.38%/yr for CNDX.AS. Their correlation of 0.91 suggests significant overlap in exposure. INAA.AS charges 0.40%/yr vs 0.36%/yr for CNDX.AS.
Performance
INAA.AS vs. CNDX.AS - Performance Comparison
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Returns By Period
In the year-to-date period, INAA.AS achieves a 11.30% return, which is significantly lower than CNDX.AS's 21.89% return. Over the past 10 years, INAA.AS has underperformed CNDX.AS with an annualized return of 14.31%, while CNDX.AS has yielded a comparatively higher 21.38% annualized return.
INAA.AS
- 1D
- -0.35%
- 1M
- 5.90%
- YTD
- 11.30%
- 6M
- 11.28%
- 1Y
- 24.90%
- 3Y*
- 18.79%
- 5Y*
- 13.88%
- 10Y*
- 14.31%
CNDX.AS
- 1D
- 0.15%
- 1M
- 11.52%
- YTD
- 21.89%
- 6M
- 20.33%
- 1Y
- 38.95%
- 3Y*
- 25.16%
- 5Y*
- 18.85%
- 10Y*
- 21.38%
INAA.AS vs. CNDX.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INAA.AS iShares MSCI North America UCITS ETF | 11.30% | 4.00% | 32.96% | 20.94% | -14.85% | 37.53% | 9.22% | 32.33% | -1.61% | 6.00% |
CNDX.AS iShares NASDAQ 100 UCITS ETF | 21.89% | 6.16% | 35.29% | 50.41% | -29.90% | 38.80% | 35.83% | 40.51% | 4.53% | 16.12% |
Correlation
The correlation between INAA.AS and CNDX.AS is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2011 | 0.91 |
The correlation between INAA.AS and CNDX.AS has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
INAA.AS vs. CNDX.AS — Risk / Return Rank
INAA.AS
CNDX.AS
INAA.AS vs. CNDX.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI North America UCITS ETF (INAA.AS) and iShares NASDAQ 100 UCITS ETF (CNDX.AS). 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.
| INAA.AS | CNDX.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.44 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 3.82 | -0.43 |
| Martin ratioReturn relative to average drawdown | 12.05 | 11.35 | +0.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| INAA.AS | CNDX.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.49 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.94 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 1.07 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 1.03 | -0.40 |
Drawdowns
INAA.AS vs. CNDX.AS - Drawdown Comparison
The maximum INAA.AS drawdown since its inception was -51.35%, which is greater than CNDX.AS's maximum drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for INAA.AS and CNDX.AS.
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Drawdown Indicators
| INAA.AS | CNDX.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.35% | -31.21% | -20.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | -10.06% | +2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -23.43% | -26.57% | +3.14% |
Max Drawdown (5Y)Largest decline over 5 years | -23.43% | -31.21% | +7.78% |
Max Drawdown (10Y)Largest decline over 10 years | -34.42% | -31.21% | -3.21% |
Current DrawdownCurrent decline from peak | -0.35% | 0.00% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -5.45% | -2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 3.40% | -1.35% |
Volatility
INAA.AS vs. CNDX.AS - Volatility Comparison
The current volatility for iShares MSCI North America UCITS ETF (INAA.AS) is 2.71%, while iShares NASDAQ 100 UCITS ETF (CNDX.AS) has a volatility of 4.25%. This indicates that INAA.AS experiences smaller price fluctuations and is considered to be less risky than CNDX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INAA.AS | CNDX.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 4.25% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.44% | 10.70% | -3.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.40% | 15.52% | -4.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.31% | 19.73% | -4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | 19.61% | -3.44% |
INAA.AS vs. CNDX.AS - Expense Ratio Comparison
INAA.AS has a 0.40% expense ratio, which is higher than CNDX.AS's 0.36% expense ratio.
Dividends
INAA.AS vs. CNDX.AS - Dividend Comparison
INAA.AS's dividend yield for the trailing twelve months is around 0.52%, while CNDX.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNDX.AS 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% |
INAA.AS iShares MSCI North America UCITS ETF | 0.52% | 0.59% | 0.69% | 0.92% | 1.08% | 0.62% | 0.94% | 1.10% | 1.21% | 1.18% | 1.25% | 1.39% |
Frequently Asked Questions
With a correlation of 0.92, INAA.AS and CNDX.AS 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, CNDX.AS is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNDX.AS is cheaper with a 0.36% expense ratio, compared with 0.40% for INAA.AS.
INAA.AS is categorized as Large Cap Blend Equities, while CNDX.AS is Nasdaq-100. INAA.AS tracks Russell 1000 TR USD, while CNDX.AS tracks NASDAQ-100 Index. Their fees differ too: 0.40% for INAA.AS and 0.36% for CNDX.AS.
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