IRSA.L vs. CNDX.L
IRSA.L (iShares MSCI South Africa UCITS ETF USD (Acc)) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - IRSA.L is a Global Equities fund tracking the iShares MSCI South Africa 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, IRSA.L returned 6.54%/yr vs 20.97%/yr for CNDX.L. A 0.51 correlation means they provide meaningful diversification when combined. IRSA.L charges 0.65%/yr vs 0.33%/yr for CNDX.L.
Performance
IRSA.L vs. CNDX.L - Performance Comparison
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Returns By Period
In the year-to-date period, IRSA.L achieves a -4.47% return, which is significantly lower than CNDX.L's 15.91% return. Over the past 10 years, IRSA.L has underperformed CNDX.L with an annualized return of 6.54%, while CNDX.L has yielded a comparatively higher 20.97% annualized return.
IRSA.L
- 1D
- 1.35%
- 1M
- -4.91%
- 6M
- -10.54%
- YTD
- -4.47%
- 1Y
- 32.37%
- 3Y*
- 21.89%
- 5Y*
- 10.90%
- 10Y*
- 6.54%
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%
IRSA.L vs. CNDX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRSA.L iShares MSCI South Africa UCITS ETF USD (Acc) | -4.47% | 76.74% | 7.84% | 0.20% | -3.75% | 3.99% | -2.70% | 8.62% | -24.11% | 34.90% |
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 IRSA.L and CNDX.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2010 | 0.51 |
The correlation between IRSA.L and CNDX.L has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.
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Return for Risk
IRSA.L vs. CNDX.L — Risk / Return Rank
IRSA.L
CNDX.L
IRSA.L vs. CNDX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa UCITS ETF USD (Acc) (IRSA.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.
| IRSA.L | CNDX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 2.57 | -1.19 |
| Martin ratioReturn relative to average drawdown | 2.95 | 8.61 | -5.66 |
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Drawdowns
IRSA.L vs. CNDX.L - Drawdown Comparison
The maximum IRSA.L drawdown since its inception was -61.84%, 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 IRSA.L and CNDX.L.
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Drawdown Indicators
| IRSA.L | CNDX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.84% | -35.21% | -26.63% |
Max Drawdown (1Y)Largest decline over 1 year | -22.87% | -11.00% | -11.87% |
Max Drawdown (3Y)Largest decline over 3 years | -22.87% | -22.44% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -34.44% | -35.21% | +0.77% |
Max Drawdown (10Y)Largest decline over 10 years | -61.84% | -35.21% | -26.63% |
Current DrawdownCurrent decline from peak | -19.50% | -3.87% | -15.63% |
Average DrawdownAverage peak-to-trough decline | -17.86% | -5.12% | -12.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.68% | 3.29% | +7.39% |
Volatility
IRSA.L vs. CNDX.L - Volatility Comparison
iShares MSCI South Africa UCITS ETF USD (Acc) (IRSA.L) has a higher volatility of 7.83% compared to iShares NASDAQ 100 UCITS ETF (CNDX.L) at 5.89%. This indicates that IRSA.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
| IRSA.L | CNDX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.83% | 5.89% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 27.42% | 13.78% | +13.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.59% | 17.32% | +15.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.69% | 21.15% | +7.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.78% | 20.13% | +9.65% |
IRSA.L vs. CNDX.L - Expense Ratio Comparison
IRSA.L has a 0.65% expense ratio, which is higher than CNDX.L's 0.33% expense ratio.
Dividends
IRSA.L vs. CNDX.L - Dividend Comparison
Neither IRSA.L nor CNDX.L has paid dividends to shareholders.
Frequently Asked Questions
IRSA.L and CNDX.L have a correlation of 0.49, 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 0.65% for IRSA.L.
IRSA.L is categorized as Global Equities, while CNDX.L is Nasdaq-100. IRSA.L tracks iShares MSCI South Africa UCITS ETF USD (Acc), while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.65% for IRSA.L and 0.33% for CNDX.L.
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