MAMG.L vs. CNDX.L

Last updated Apr 3, 2026

Compare and contrast key facts about BlackRock ESG Multi-Asset Moderate Portfolio UCITS ETF GBP Hedged (Acc) (MAMG.L) and iShares NASDAQ 100 UCITS ETF (CNDX.L).

MAMG.L and CNDX.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MAMG.L is a passively managed fund by iShares that tracks the performance of the Morningstar UK Mod Tgt Alloc NR GBP. It was launched on Sep 14, 2020. CNDX.L is a passively managed fund by iShares that tracks the performance of the NASDAQ-100 Index. It was launched on Jan 26, 2010. Both MAMG.L and CNDX.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MAMG.L vs. CNDX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in BlackRock ESG Multi-Asset Moderate Portfolio UCITS ETF GBP Hedged (Acc) (MAMG.L) and iShares NASDAQ 100 UCITS ETF (CNDX.L). The values are adjusted to include any dividend payments, if applicable.

MAMG.L vs. CNDX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MAMG.L BlackRock ESG Multi-Asset Moderate Portfolio UCITS ETF GBP Hedged (Acc)	-0.74%	8.95%	11.42%	9.97%	-14.53%	12.19%	4.77%
CNDX.L iShares NASDAQ 100 UCITS ETF	-3.77%	11.22%	28.66%	48.50%	-25.54%	29.17%	6.82%

Different Trading Currencies

MAMG.L is traded in GBP, while CNDX.L is traded in USD. To make them comparable, the CNDX.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, MAMG.L achieves a -0.74% return, which is significantly higher than CNDX.L's -3.56% return.

MAMG.L

• 1D: -0.24%
• 1M: -1.64%
• YTD: -0.74%
• 6M: 1.67%
• 1Y: 9.97%
• 3Y*: 8.64%
• 5Y*: 4.45%
• 10Y*: —

CNDX.L

• 1D: 0.00%
• 1M: -1.13%
• YTD: -3.56%
• 6M: -1.45%
• 1Y: 21.37%
• 3Y*: 20.44%
• 5Y*: 14.03%
• 10Y*: 19.78%

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

MAMG.L vs. CNDX.L - Expense Ratio Comparison

MAMG.L has a 0.25% expense ratio, which is lower than CNDX.L's 0.33% expense ratio.

CNDX.L

iShares NASDAQ 100 UCITS ETF

MAMG.L

BlackRock ESG Multi-Asset Moderate Portfolio UCITS ETF GBP Hedged (Acc)

Return for Risk

MAMG.L vs. CNDX.L — Risk / Return Rank

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

MAMG.L

MAMG.L Risk / Return Rank: 70
MAMG.L Sharpe Ratio Rank: 65
MAMG.L Sortino Ratio Rank: 65
MAMG.L Omega Ratio Rank: 64
MAMG.L Calmar Ratio Rank: 72
MAMG.L Martin Ratio Rank: 82

CNDX.L

CNDX.L Risk / Return Rank: 74
CNDX.L Sharpe Ratio Rank: 62
CNDX.L Sortino Ratio Rank: 65
CNDX.L Omega Ratio Rank: 59
CNDX.L Calmar Ratio Rank: 92
CNDX.L Martin Ratio Rank: 91

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.

MAMG.L vs. CNDX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock ESG Multi-Asset Moderate Portfolio UCITS ETF GBP Hedged (Acc) (MAMG.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.

	MAMG.L	CNDX.L	Difference
Sharpe ratio Return per unit of total volatility	1.22	1.09	+0.13
Sortino ratio Return per unit of downside risk	1.73	1.61	+0.13
Omega ratio Gain probability vs. loss probability	1.25	1.22	+0.03
Calmar ratio Return relative to maximum drawdown	2.35	3.16	-0.81
Martin ratio Return relative to average drawdown	11.02	9.14	+1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAMG.L vs. CNDX.L - Sharpe Ratio Comparison

The current MAMG.L Sharpe Ratio is 1.22, which is comparable to the CNDX.L Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of MAMG.L and CNDX.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MAMG.L	CNDX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.09	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.70	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	1.09	-0.43

Correlation

The correlation between MAMG.L and CNDX.L is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MAMG.L vs. CNDX.L - Dividend Comparison

Neither MAMG.L nor CNDX.L has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAMG.L BlackRock ESG Multi-Asset Moderate Portfolio UCITS ETF GBP Hedged (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CNDX.L iShares NASDAQ 100 UCITS ETF	0.00%	0.00%	0.02%	0.05%	0.06%	0.03%	0.04%	0.07%	0.06%	0.30%	0.16%	0.16%

Drawdowns

MAMG.L vs. CNDX.L - Drawdown Comparison

The maximum MAMG.L drawdown since its inception was -17.55%, smaller than the maximum CNDX.L drawdown of -27.74%. Use the drawdown chart below to compare losses from any high point for MAMG.L and CNDX.L.

Drawdown Indicators

	MAMG.L	CNDX.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.55%	-35.17%	+17.62%
Max Drawdown (1Y) Largest decline over 1 year	-5.15%	-11.00%	+5.85%
Max Drawdown (5Y) Largest decline over 5 years	-17.55%	-35.17%	+17.62%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.17%	—
Current Drawdown Current decline from peak	-3.28%	-7.95%	+4.67%
Average Drawdown Average peak-to-trough decline	-4.86%	-5.36%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	3.00%	-1.90%

Volatility

MAMG.L vs. CNDX.L - Volatility Comparison

The current volatility for BlackRock ESG Multi-Asset Moderate Portfolio UCITS ETF GBP Hedged (Acc) (MAMG.L) is 3.00%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 5.60%. This indicates that MAMG.L experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAMG.L	CNDX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	5.60%	-2.60%
Volatility (6M) Calculated over the trailing 6-month period	4.86%	12.14%	-7.28%
Volatility (1Y) Calculated over the trailing 1-year period	8.17%	19.40%	-11.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.91%	20.10%	-12.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.98%	20.19%	-12.21%