NASL.L vs. CNX1.L

Last updated Jun 5, 2026

NASL.L (Lyxor UCITS Nasdaq-100 D-EUR) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both Nasdaq-100 funds - NASL.L tracks the Russell 1000 Growth TR USD while CNX1.L tracks the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, NASL.L returned 19.05%/yr vs 18.83%/yr for CNX1.L. With a 0.98 correlation, they move nearly in lockstep. NASL.L charges 0.30%/yr vs 0.36%/yr for CNX1.L.

Performance

NASL.L vs. CNX1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor UCITS Nasdaq-100 D-EUR (NASL.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

The year-to-date returns for both stocks are quite close, with NASL.L having a 19.92% return and CNX1.L slightly lower at 19.85%.

NASL.L

• 1D: -0.74%
• 1M: 9.61%
• YTD: 19.92%
• 6M: 18.45%
• 1Y: 41.87%
• 3Y*: 24.89%
• 5Y*: 19.05%
• 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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NASL.L Lyxor UCITS Nasdaq-100 D-EUR	19.92%	11.71%	28.78%	47.95%	-25.38%	29.78%	43.43%	33.70%	-2.99%
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%	-3.02%

Correlation

The correlation between NASL.L and CNX1.L is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since May 15, 2018	0.98

The correlation between NASL.L and CNX1.L has been stable across timeframes, ranging from 0.89 to 0.98 - a consistent structural relationship.

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

Sectors	NASL.L	CNX1.L
Technology	53.7%	57.3%
Communication Services	15.8%	14.5%
Consumer Cyclical	12.2%	11.6%
Consumer Defensive	7.7%	6.9%
Healthcare	4.2%	3.8%
Industrials	3.1%	2.8%
Utilities	1.4%	1.3%
Basic Materials	1.1%	1.1%
Energy	0.6%	0.5%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

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

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

NASL.L

NASL.L Risk / Return Rank: 78
NASL.L Sharpe Ratio Rank: 87
NASL.L Sortino Ratio Rank: 83
NASL.L Omega Ratio Rank: 82
NASL.L Calmar Ratio Rank: 76
NASL.L Martin Ratio Rank: 62

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.

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

This table presents a comparison of risk-adjusted performance metrics for Lyxor UCITS Nasdaq-100 D-EUR (NASL.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.

	NASL.L	CNX1.L	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.82	+0.03
Sortino ratio: Return per unit of downside risk	3.68	3.72	-0.04
Omega ratio: Gain probability vs. loss probability	1.49	1.50	-0.01
Calmar ratio: Return relative to maximum drawdown	3.76	3.76	0.00
Martin ratio: Return relative to average drawdown	10.99	11.10	-0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current NASL.L Sharpe Ratio is 2.85, which is comparable to the CNX1.L Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of NASL.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

	NASL.L	CNX1.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	2.82	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	0.98	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.14	-0.10

Drawdowns

NASL.L vs. CNX1.L - Drawdown Comparison

The maximum NASL.L drawdown since its inception was -27.49%, roughly equal to the maximum CNX1.L drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for NASL.L and CNX1.L.

Drawdown Indicators

	NASL.L	CNX1.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.49%	-27.56%	+0.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.08%	-11.03%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-24.53%	-24.56%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-27.49%	-27.56%	+0.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.56%	—
Current Drawdown Current decline from peak	-0.74%	-0.63%	-0.11%
Average Drawdown Average peak-to-trough decline	-6.14%	-4.57%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.75%	+0.05%

Volatility

NASL.L vs. CNX1.L - Volatility Comparison

Lyxor UCITS Nasdaq-100 D-EUR (NASL.L) and iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) have volatilities of 4.15% and 4.13%, 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

	NASL.L	CNX1.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	4.13%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	10.38%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	14.63%	14.70%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	19.16%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.90%	19.44%	+0.46%

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

NASL.L has a 0.30% expense ratio, which is lower than CNX1.L's 0.36% expense ratio.

Dividends

NASL.L vs. CNX1.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NASL.L Lyxor UCITS Nasdaq-100 D-EUR	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.69%	0.68%

Frequently Asked Questions

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

NASL.L and CNX1.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, NASL.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

NASL.L is cheaper with a 0.30% expense ratio, compared with 0.36% for CNX1.L.

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

NASL.L tracks Russell 1000 Growth TR USD, while CNX1.L tracks NASDAQ-100 Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.30% for NASL.L and 0.36% for CNX1.L.