IPOL.L vs. CNDX.L
IPOL.L (iShares MSCI Poland UCITS ETF USD (Acc)) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - IPOL.L is a Global Equities fund tracking the iShares MSCI Poland UCITS ETF USD (Acc), while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, IPOL.L returned 9.83%/yr vs 20.97%/yr for CNDX.L. At a 0.48 correlation, their price movements are largely independent. IPOL.L charges 0.74%/yr vs 0.33%/yr for CNDX.L.
Performance
IPOL.L vs. CNDX.L - Performance Comparison
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Returns By Period
In the year-to-date period, IPOL.L achieves a 17.14% return, which is significantly higher than CNDX.L's 15.91% return. Over the past 10 years, IPOL.L has underperformed CNDX.L with an annualized return of 9.83%, while CNDX.L has yielded a comparatively higher 20.97% annualized return.
IPOL.L
- 1D
- 0.73%
- 1M
- 1.61%
- 6M
- 14.43%
- YTD
- 17.14%
- 1Y
- 35.57%
- 3Y*
- 29.42%
- 5Y*
- 15.25%
- 10Y*
- 9.83%
CNDX.L
- 1D
- -0.67%
- 1M
- -3.48%
- 6M
- 16.01%
- YTD
- 15.91%
- 1Y
- 28.40%
- 3Y*
- 23.77%
- 5Y*
- 15.27%
- 10Y*
- 20.97%
IPOL.L vs. CNDX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPOL.L iShares MSCI Poland UCITS ETF USD (Acc) | 17.14% | 72.75% | -6.10% | 49.20% | -26.61% | 6.83% | -11.21% | -6.81% | -12.61% | 54.17% |
CNDX.L iShares NASDAQ 100 UCITS ETF | 15.91% | 19.75% | 26.42% | 56.22% | -33.49% | 27.92% | 48.25% | 37.96% | -1.08% | 31.91% |
Correlation
The correlation between IPOL.L and CNDX.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2011 | 0.48 |
The correlation between IPOL.L and CNDX.L has been stable across timeframes, ranging from 0.44 to 0.50 - a consistent structural relationship.
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Return for Risk
IPOL.L vs. CNDX.L — Risk / Return Rank
IPOL.L
CNDX.L
IPOL.L vs. CNDX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.L) 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.
| IPOL.L | CNDX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 2.57 | +0.72 |
| Martin ratioReturn relative to average drawdown | 7.57 | 8.61 | -1.05 |
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Drawdowns
IPOL.L vs. CNDX.L - Drawdown Comparison
The maximum IPOL.L drawdown since its inception was -68.05%, which is greater than CNDX.L's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for IPOL.L and CNDX.L.
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Drawdown Indicators
| IPOL.L | CNDX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.05% | -35.21% | -32.84% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -11.00% | +0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -22.44% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -55.92% | -35.21% | -20.71% |
Max Drawdown (10Y)Largest decline over 10 years | -65.79% | -35.21% | -30.58% |
Current DrawdownCurrent decline from peak | -0.97% | -3.87% | +2.90% |
Average DrawdownAverage peak-to-trough decline | -29.58% | -5.12% | -24.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 3.29% | +1.27% |
Volatility
IPOL.L vs. CNDX.L - Volatility Comparison
iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.L) has a higher volatility of 6.25% compared to iShares NASDAQ 100 UCITS ETF (CNDX.L) at 5.89%. This indicates that IPOL.L's price experiences larger fluctuations and is considered to be riskier 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
| IPOL.L | CNDX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 5.89% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 19.47% | 13.78% | +5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.80% | 17.32% | +7.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.16% | 21.15% | +9.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.41% | 20.13% | +7.28% |
IPOL.L vs. CNDX.L - Expense Ratio Comparison
IPOL.L has a 0.74% expense ratio, which is higher than CNDX.L's 0.33% expense ratio.
Dividends
IPOL.L vs. CNDX.L - Dividend Comparison
Neither IPOL.L nor CNDX.L has paid dividends to shareholders.
Frequently Asked Questions
IPOL.L and CNDX.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNDX.L is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNDX.L is cheaper with a 0.33% expense ratio, compared with 0.74% for IPOL.L.
IPOL.L is categorized as Global Equities, while CNDX.L is Nasdaq-100. IPOL.L tracks iShares MSCI Poland UCITS ETF USD (Acc), while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.74% for IPOL.L and 0.33% for CNDX.L.
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