IUSF.L vs. CNX1.L

Last updated Jun 5, 2026

IUSF.L (iShares Edge MSCI USA Size Factor UCITS ETF) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both exchange-traded funds - IUSF.L is a Mid Cap Blend Equities fund tracking the Russell Mid Cap TR USD, while CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, IUSF.L returned 7.45%/yr vs 18.83%/yr for CNX1.L. A 0.71 correlation means they provide meaningful diversification when combined. IUSF.L charges 0.20%/yr vs 0.36%/yr for CNX1.L.

Performance

IUSF.L vs. CNX1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) and iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSF.L achieves a 7.69% return, which is significantly lower than CNX1.L's 19.85% return.

IUSF.L

• 1D: 0.64%
• 1M: 4.37%
• YTD: 7.69%
• 6M: 7.96%
• 1Y: 17.90%
• 3Y*: 11.63%
• 5Y*: 7.45%
• 10Y*: —

CNX1.L

• 1D: -0.63%
• 1M: 9.63%
• YTD: 19.85%
• 6M: 18.42%
• 1Y: 41.69%
• 3Y*: 24.68%
• 5Y*: 18.83%
• 10Y*: 22.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSF.L vs. CNX1.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSF.L iShares Edge MSCI USA Size Factor UCITS ETF	7.69%	1.00%	14.60%	10.79%	-8.57%	27.74%	13.62%	23.94%	-5.85%	7.91%
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc)	19.85%	11.57%	28.51%	47.71%	-25.53%	29.50%	43.24%	33.63%	4.62%	20.13%

Correlation

The correlation between IUSF.L and CNX1.L is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 18, 2016	0.71

The correlation between IUSF.L and CNX1.L shifts across timeframes, from 0.52 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

IUSF.L vs. CNX1.L - Sectors Allocation Comparison

Sectors	IUSF.L	CNX1.L
Technology	21.2%	57.3%
Industrials	16.5%	2.8%
Financial Services	12.4%	0.2%
Consumer Cyclical	9.9%	11.6%
Healthcare	9.3%	3.8%
Real Estate	7.1%	0.1%
Utilities	6.3%	1.3%
Consumer Defensive	5.7%	6.9%
Basic Materials	5.3%	1.1%
Communication Services	3.9%	14.5%
Energy	2.3%	0.5%

Return for Risk

IUSF.L vs. CNX1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUSF.L

IUSF.L Risk / Return Rank: 46
IUSF.L Sharpe Ratio Rank: 46
IUSF.L Sortino Ratio Rank: 45
IUSF.L Omega Ratio Rank: 43
IUSF.L Calmar Ratio Rank: 50
IUSF.L Martin Ratio Rank: 46

CNX1.L

CNX1.L Risk / Return Rank: 78
CNX1.L Sharpe Ratio Rank: 86
CNX1.L Sortino Ratio Rank: 84
CNX1.L Omega Ratio Rank: 83
CNX1.L Calmar Ratio Rank: 76
CNX1.L Martin Ratio Rank: 62

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.

IUSF.L vs. CNX1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) and iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.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.

	IUSF.L	CNX1.L	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.82	-1.24
Sortino ratio: Return per unit of downside risk	2.21	3.72	-1.51
Omega ratio: Gain probability vs. loss probability	1.28	1.50	-0.22
Calmar ratio: Return relative to maximum drawdown	2.41	3.76	-1.35
Martin ratio: Return relative to average drawdown	7.40	11.10	-3.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSF.L vs. CNX1.L - Sharpe Ratio Comparison

The current IUSF.L Sharpe Ratio is 1.59, which is lower than the CNX1.L Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of IUSF.L and CNX1.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.

Sharpe Ratios by Period

	IUSF.L	CNX1.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	2.82	-1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.98	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	1.14	-0.59

Drawdowns

IUSF.L vs. CNX1.L - Drawdown Comparison

The maximum IUSF.L drawdown since its inception was -33.67%, which is greater than CNX1.L's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for IUSF.L and CNX1.L.

Drawdown Indicators

	IUSF.L	CNX1.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.67%	-27.56%	-6.11%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-11.03%	+3.64%
Max Drawdown (3Y) Largest decline over 3 years	-22.73%	-24.56%	+1.83%
Max Drawdown (5Y) Largest decline over 5 years	-22.73%	-27.56%	+4.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.56%	—
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-5.45%	-4.57%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	3.75%	-1.34%

Volatility

IUSF.L vs. CNX1.L - Volatility Comparison

The current volatility for iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) is 2.67%, while iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) has a volatility of 4.13%. This indicates that IUSF.L experiences smaller price fluctuations and is considered to be less risky than CNX1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSF.L	CNX1.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	4.13%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	7.66%	10.38%	-2.72%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	14.70%	-3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	19.16%	-3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	19.44%	-2.08%

IUSF.L vs. CNX1.L - Expense Ratio Comparison

IUSF.L has a 0.20% expense ratio, which is lower than CNX1.L's 0.36% expense ratio.

Dividends

IUSF.L vs. CNX1.L - Dividend Comparison

Neither IUSF.L nor CNX1.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IUSF.L and CNX1.L in my portfolio?

IUSF.L and CNX1.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUSF.L or CNX1.L?

On fees, IUSF.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUSF.L or CNX1.L?

IUSF.L is cheaper with a 0.20% expense ratio, compared with 0.36% for CNX1.L.

What is the main difference between IUSF.L and CNX1.L?

IUSF.L is categorized as Mid Cap Blend Equities, while CNX1.L is Nasdaq-100. IUSF.L tracks Russell Mid Cap TR USD, while CNX1.L tracks NASDAQ-100 Index. Their fees differ too: 0.20% for IUSF.L and 0.36% for CNX1.L.