LQQ3.L vs. CNX1.L
LQQ3.L (WisdomTree NASDAQ 100 3x Daily Leveraged) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both Nasdaq-100 funds - LQQ3.L tracks the NASDAQ-100 Notional Net Total Return Index while CNX1.L tracks the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, LQQ3.L returned 28.14%/yr vs 18.83%/yr for CNX1.L. Their correlation of 0.93 suggests significant overlap in exposure. LQQ3.L charges 0.75%/yr vs 0.36%/yr for CNX1.L.
Performance
LQQ3.L vs. CNX1.L - Performance Comparison
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Returns By Period
In the year-to-date period, LQQ3.L achieves a 56.49% return, which is significantly higher than CNX1.L's 19.85% return.
LQQ3.L
- 1D
- -1.92%
- 1M
- 27.07%
- YTD
- 56.49%
- 6M
- 51.01%
- 1Y
- 126.98%
- 3Y*
- 59.92%
- 5Y*
- 28.14%
- 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%
LQQ3.L vs. CNX1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQQ3.L WisdomTree NASDAQ 100 3x Daily Leveraged | 56.49% | 18.96% | 62.50% | 192.06% | -77.11% | 89.86% | 102.98% | 121.83% | -16.83% | 48.85% |
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% | 8.82% |
Correlation
The correlation between LQQ3.L and CNX1.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2017 | 0.93 |
The correlation between LQQ3.L and CNX1.L has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
LQQ3.L vs. CNX1.L — Risk / Return Rank
LQQ3.L
CNX1.L
LQQ3.L vs. CNX1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree NASDAQ 100 3x Daily Leveraged (LQQ3.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.
| LQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.50 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 3.76 | -0.22 |
| Martin ratioReturn relative to average drawdown | 10.50 | 11.10 | -0.60 |
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
| LQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 2.82 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.98 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 1.14 | -0.48 |
Drawdowns
LQQ3.L vs. CNX1.L - Drawdown Comparison
The maximum LQQ3.L drawdown since its inception was -79.16%, 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 LQQ3.L and CNX1.L.
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Drawdown Indicators
| LQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.16% | -27.56% | -51.60% |
Max Drawdown (1Y)Largest decline over 1 year | -35.64% | -11.03% | -24.61% |
Max Drawdown (3Y)Largest decline over 3 years | -58.39% | -24.56% | -33.83% |
Max Drawdown (5Y)Largest decline over 5 years | -79.16% | -27.56% | -51.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.56% | — |
Current DrawdownCurrent decline from peak | -1.98% | -0.63% | -1.35% |
Average DrawdownAverage peak-to-trough decline | -23.34% | -4.57% | -18.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.04% | 3.75% | +8.29% |
Volatility
LQQ3.L vs. CNX1.L - Volatility Comparison
WisdomTree NASDAQ 100 3x Daily Leveraged (LQQ3.L) has a higher volatility of 13.74% compared to iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) at 4.13%. This indicates that LQQ3.L's price experiences larger fluctuations and is considered to be riskier than CNX1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.74% | 4.13% | +9.61% |
Volatility (6M)Calculated over the trailing 6-month period | 32.87% | 10.38% | +22.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.12% | 14.70% | +30.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.25% | 19.16% | +40.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.45% | 19.44% | +40.01% |
LQQ3.L vs. CNX1.L - Expense Ratio Comparison
LQQ3.L has a 0.75% expense ratio, which is higher than CNX1.L's 0.36% expense ratio.
Dividends
LQQ3.L vs. CNX1.L - Dividend Comparison
Neither LQQ3.L nor CNX1.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, LQQ3.L and CNX1.L 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, CNX1.L is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNX1.L is cheaper with a 0.36% expense ratio, compared with 0.75% for LQQ3.L.
LQQ3.L tracks NASDAQ-100 Notional Net Total Return Index, while CNX1.L tracks NASDAQ-100 Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.75% for LQQ3.L and 0.36% for CNX1.L.
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