MATH vs. ^IXIC

Last updated Apr 1, 2026

Compare and contrast key facts about Metalpha Technology Holding Limited (MATH) and NASDAQ Composite (^IXIC).

Performance

MATH vs. ^IXIC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metalpha Technology Holding Limited (MATH) and NASDAQ Composite (^IXIC). The values are adjusted to include any dividend payments, if applicable.

MATH vs. ^IXIC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MATH Metalpha Technology Holding Limited	-45.24%	82.61%	-47.25%	323.71%	-57.48%	-48.29%	80.00%	-0.01%	-70.18%	-68.11%
^IXIC NASDAQ Composite	-7.11%	20.36%	28.64%	43.42%	-33.10%	21.39%	43.64%	35.23%	-3.88%	4.14%

Returns By Period

In the year-to-date period, MATH achieves a -45.24% return, which is significantly lower than ^IXIC's -7.11% return.

MATH

• 1D: 3.60%
• 1M: -4.17%
• YTD: -45.24%
• 6M: -68.66%
• 1Y: -32.35%
• 3Y*: 3.46%
• 5Y*: -5.80%
• 10Y*: —

^IXIC

• 1D: 3.83%
• 1M: -4.75%
• YTD: -7.11%
• 6M: -4.72%
• 1Y: 24.81%
• 3Y*: 20.89%
• 5Y*: 9.88%
• 10Y*: 15.95%

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

Return for Risk

MATH vs. ^IXIC — Risk / Return Rank

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

MATH

MATH Risk / Return Rank: 27
MATH Sharpe Ratio Rank: 25
MATH Sortino Ratio Rank: 29
MATH Omega Ratio Rank: 30
MATH Calmar Ratio Rank: 27
MATH Martin Ratio Rank: 26

^IXIC

^IXIC Risk / Return Rank: 81
^IXIC Sharpe Ratio Rank: 77
^IXIC Sortino Ratio Rank: 83
^IXIC Omega Ratio Rank: 81
^IXIC Calmar Ratio Rank: 81
^IXIC Martin Ratio Rank: 84

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.

MATH vs. ^IXIC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metalpha Technology Holding Limited (MATH) and NASDAQ Composite (^IXIC). 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.

	MATH	^IXIC	Difference
Sharpe ratio Return per unit of total volatility	-0.36	1.07	-1.43
Sortino ratio Return per unit of downside risk	0.02	1.66	-1.64
Omega ratio Gain probability vs. loss probability	1.00	1.24	-0.23
Calmar ratio Return relative to maximum drawdown	-0.44	1.86	-2.30
Martin ratio Return relative to average drawdown	-0.91	6.71	-7.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MATH vs. ^IXIC - Sharpe Ratio Comparison

The current MATH Sharpe Ratio is -0.36, which is lower than the ^IXIC Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of MATH and ^IXIC, 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

	MATH	^IXIC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.36	1.07	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.44	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.51	-0.74

Correlation

The correlation between MATH and ^IXIC is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

MATH vs. ^IXIC - Drawdown Comparison

The maximum MATH drawdown since its inception was -96.71%, which is greater than ^IXIC's maximum drawdown of -77.93%. Use the drawdown chart below to compare losses from any high point for MATH and ^IXIC.

Drawdown Indicators

	MATH	^IXIC	Difference
Max Drawdown Largest peak-to-trough decline	-96.71%	-77.93%	-18.78%
Max Drawdown (1Y) Largest decline over 1 year	-75.43%	-13.26%	-62.17%
Max Drawdown (5Y) Largest decline over 5 years	-76.19%	-36.40%	-39.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.40%	—
Current Drawdown Current decline from peak	-91.59%	-9.88%	-81.71%
Average Drawdown Average peak-to-trough decline	-86.94%	-21.46%	-65.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.90%	3.67%	+33.23%

Volatility

MATH vs. ^IXIC - Volatility Comparison

Metalpha Technology Holding Limited (MATH) has a higher volatility of 23.58% compared to NASDAQ Composite (^IXIC) at 6.98%. This indicates that MATH's price experiences larger fluctuations and is considered to be riskier than ^IXIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MATH	^IXIC	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.58%	6.98%	+16.60%
Volatility (6M) Calculated over the trailing 6-month period	56.96%	13.04%	+43.92%
Volatility (1Y) Calculated over the trailing 1-year period	90.11%	23.31%	+66.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.52%	22.45%	+67.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	109.14%	21.97%	+87.17%