MSCI vs. NDAQ

Last updated Jun 3, 2026

MSCI (MSCI Inc.) and NDAQ (Nasdaq, Inc.) are both stocks. Both operate in the Financial Data & Stock Exchanges industry within the Financial Services sector. Over the past 10 years, MSCI returned 24.75%/yr vs 16.88%/yr for NDAQ. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

MSCI vs. NDAQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MSCI Inc. (MSCI) and Nasdaq, Inc. (NDAQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSCI achieves a 10.69% return, which is significantly higher than NDAQ's -9.21% return. Over the past 10 years, MSCI has outperformed NDAQ with an annualized return of 24.75%, while NDAQ has yielded a comparatively lower 16.88% annualized return.

MSCI

• 1D: -2.11%
• 1M: 7.42%
• YTD: 10.69%
• 6M: 16.03%
• 1Y: 13.27%
• 3Y*: 10.96%
• 5Y*: 7.59%
• 10Y*: 24.75%

NDAQ

• 1D: -5.28%
• 1M: -3.73%
• YTD: -9.21%
• 6M: -0.06%
• 1Y: 5.93%
• 3Y*: 17.63%
• 5Y*: 10.92%
• 10Y*: 16.88%

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

MSCI vs. NDAQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSCI MSCI Inc.	10.69%	-3.17%	7.31%	22.90%	-23.34%	38.14%	74.38%	77.19%	17.95%	62.63%
NDAQ Nasdaq, Inc.	-9.21%	27.19%	34.85%	-3.66%	-11.19%	60.13%	25.99%	33.88%	8.21%	16.76%

Correlation

The correlation between MSCI and NDAQ is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Nov 16, 2007	0.53

The correlation between MSCI and NDAQ shifts across timeframes, from 0.50 (3 years) to 0.62 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MSCI : $46.26B NDAQ : $50.26B
EPS MSCI : $17.28 NDAQ : $3.32
PE Ratio MSCI : 36.47 NDAQ : 26.49
PEG Ratio MSCI : 2.26 NDAQ : 2.55
PS Ratio MSCI : 14.86 NDAQ : 6.13
Total Revenue (TTM) MSCI : $3.24B NDAQ : $8.27B
Gross Profit (TTM) MSCI : $2.68B NDAQ : $4.53B
EBITDA (TTM) MSCI : $1.99B NDAQ : $3.11B

Return for Risk

MSCI vs. NDAQ — Risk / Return Rank

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

MSCI

MSCI Risk / Return Rank: 54
MSCI Sharpe Ratio Rank: 56
MSCI Sortino Ratio Rank: 49
MSCI Omega Ratio Rank: 50
MSCI Calmar Ratio Rank: 56
MSCI Martin Ratio Rank: 59

NDAQ

NDAQ Risk / Return Rank: 45
NDAQ Sharpe Ratio Rank: 49
NDAQ Sortino Ratio Rank: 41
NDAQ Omega Ratio Rank: 42
NDAQ Calmar Ratio Rank: 47
NDAQ Martin Ratio Rank: 48

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.

MSCI vs. NDAQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MSCI Inc. (MSCI) and Nasdaq, Inc. (NDAQ). 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.

	MSCI	NDAQ	Difference
Sharpe ratio Return per unit of total volatility	0.47	0.24	+0.22
Sortino ratio Return per unit of downside risk	0.83	0.47	+0.36
Omega ratio Gain probability vs. loss probability	1.11	1.07	+0.05
Calmar ratio Return relative to maximum drawdown	0.74	0.30	+0.44
Martin ratio Return relative to average drawdown	1.94	0.71	+1.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSCI vs. NDAQ - Sharpe Ratio Comparison

The current MSCI Sharpe Ratio is 0.47, which is higher than the NDAQ Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of MSCI and NDAQ, 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

	MSCI	NDAQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.47	0.24	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.46	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.70	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.37	+0.18

Drawdowns

MSCI vs. NDAQ - Drawdown Comparison

The maximum MSCI drawdown since its inception was -69.06%, roughly equal to the maximum NDAQ drawdown of -68.48%. Use the drawdown chart below to compare losses from any high point for MSCI and NDAQ.

Drawdown Indicators

	MSCI	NDAQ	Difference
Max Drawdown Largest peak-to-trough decline	-69.06%	-68.48%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-18.07%	-21.76%	+3.69%
Max Drawdown (3Y) Largest decline over 3 years	-25.99%	-21.76%	-4.23%
Max Drawdown (5Y) Largest decline over 5 years	-43.74%	-32.84%	-10.90%
Max Drawdown (10Y) Largest decline over 10 years	-43.74%	-38.31%	-5.43%
Current Drawdown Current decline from peak	-2.11%	-12.67%	+10.56%
Average Drawdown Average peak-to-trough decline	-13.09%	-23.82%	+10.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.87%	9.20%	-2.33%

Volatility

MSCI vs. NDAQ - Volatility Comparison

MSCI Inc. (MSCI) and Nasdaq, Inc. (NDAQ) have volatilities of 7.42% and 7.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSCI	NDAQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.42%	7.25%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	20.60%	20.67%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	28.45%	24.40%	+4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.70%	23.94%	+6.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.17%	24.25%	+6.92%

Dividends

MSCI vs. NDAQ - Dividend Comparison

MSCI's dividend yield for the trailing twelve months is around 1.22%, which matches NDAQ's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSCI MSCI Inc.	1.22%	1.25%	1.07%	0.98%	0.98%	0.59%	0.65%	0.98%	1.30%	1.04%	1.27%	1.11%
NDAQ Nasdaq, Inc.	1.23%	1.08%	1.22%	1.48%	1.27%	1.00%	1.46%	1.73%	2.08%	1.90%	1.80%	1.55%

Financials

MSCI vs. NDAQ - Profitability Comparison

The chart below illustrates the profitability comparison between MSCI Inc. and Nasdaq, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MSCI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MSCI Inc. reported a gross profit of 709.00M and revenue of 850.80M. Therefore, the gross margin over that period was 83.3%.

NDAQ - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nasdaq, Inc. reported a gross profit of 1.41B and revenue of 2.14B. Therefore, the gross margin over that period was 65.8%.

MSCI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MSCI Inc. reported an operating income of 456.90M and revenue of 850.80M, resulting in an operating margin of 53.7%.

NDAQ - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nasdaq, Inc. reported an operating income of 657.00M and revenue of 2.14B, resulting in an operating margin of 30.7%.

MSCI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MSCI Inc. reported a net income of 406.00M and revenue of 850.80M, resulting in a net margin of 47.7%.

NDAQ - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nasdaq, Inc. reported a net income of 519.00M and revenue of 2.14B, resulting in a net margin of 24.3%.

Frequently Asked Questions

Can I hold both MSCI and NDAQ in my portfolio?

MSCI and NDAQ have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSCI or NDAQ?

MSCI has higher volatility (7.42%) compared to NDAQ (7.25%). In terms of maximum drawdown, MSCI dropped -69.06% vs NDAQ's -68.48%.

Which has better risk-adjusted returns?

MSCI currently has the higher Sharpe Ratio (0.47 vs 0.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.