NDAQ vs. MSCI

Last updated Apr 1, 2026

Compare and contrast key facts about Nasdaq, Inc. (NDAQ) and MSCI Inc. (MSCI).

Performance

NDAQ vs. MSCI - Performance Comparison

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

NDAQ vs. MSCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NDAQ Nasdaq, Inc.	-12.32%	27.19%	34.85%	-3.66%	-11.19%	60.13%	25.99%	33.88%	8.21%	16.76%
MSCI MSCI Inc.	-5.68%	-3.17%	7.31%	22.90%	-23.34%	38.14%	74.38%	77.19%	17.95%	62.63%

Fundamentals

Market Cap NDAQ : $48.94B MSCI : $41.66B
EPS NDAQ : $3.09 MSCI : $15.54
PE Ratio NDAQ : 27.43 MSCI : 34.68
PEG Ratio NDAQ : 2.64 MSCI : 2.15
PS Ratio NDAQ : 5.97 MSCI : 13.30
Total Revenue (TTM) NDAQ : $8.22B MSCI : $3.13B
Gross Profit (TTM) NDAQ : $3.94B MSCI : $2.58B
EBITDA (TTM) NDAQ : $3.13B MSCI : $1.93B

Returns By Period

In the year-to-date period, NDAQ achieves a -12.32% return, which is significantly lower than MSCI's -5.68% return. Over the past 10 years, NDAQ has underperformed MSCI with an annualized return of 16.29%, while MSCI has yielded a comparatively higher 23.21% annualized return.

NDAQ

• 1D: 1.64%
• 1M: -2.76%
• YTD: -12.32%
• 6M: -3.43%
• 1Y: 13.26%
• 3Y*: 17.43%
• 5Y*: 12.56%
• 10Y*: 16.29%

MSCI

• 1D: 1.34%
• 1M: -5.74%
• YTD: -5.68%
• 6M: -4.33%
• 1Y: -3.40%
• 3Y*: -0.04%
• 5Y*: 5.82%
• 10Y*: 23.21%

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

Return for Risk

NDAQ vs. MSCI — Risk / Return Rank

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

NDAQ

NDAQ Risk / Return Rank: 57
NDAQ Sharpe Ratio Rank: 60
NDAQ Sortino Ratio Rank: 52
NDAQ Omega Ratio Rank: 54
NDAQ Calmar Ratio Rank: 58
NDAQ Martin Ratio Rank: 61

MSCI

MSCI Risk / Return Rank: 35
MSCI Sharpe Ratio Rank: 37
MSCI Sortino Ratio Rank: 32
MSCI Omega Ratio Rank: 32
MSCI Calmar Ratio Rank: 38
MSCI Martin Ratio Rank: 37

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.

NDAQ vs. MSCI - Risk-Adjusted Trends Comparison

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

	NDAQ	MSCI	Difference
Sharpe ratio Return per unit of total volatility	0.50	-0.11	+0.61
Sortino ratio Return per unit of downside risk	0.82	0.05	+0.77
Omega ratio Gain probability vs. loss probability	1.12	1.01	+0.11
Calmar ratio Return relative to maximum drawdown	0.68	-0.12	+0.80
Martin ratio Return relative to average drawdown	1.80	-0.34	+2.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDAQ vs. MSCI - Sharpe Ratio Comparison

The current NDAQ Sharpe Ratio is 0.50, which is higher than the MSCI Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of NDAQ and MSCI, 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

	NDAQ	MSCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	-0.11	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.19	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.75	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.53	-0.16

Correlation

The correlation between NDAQ and MSCI is 0.53, 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

NDAQ vs. MSCI - Dividend Comparison

NDAQ's dividend yield for the trailing twelve months is around 1.27%, less than MSCI's 1.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NDAQ Nasdaq, Inc.	1.27%	1.08%	1.22%	1.48%	1.27%	1.00%	1.46%	1.73%	2.08%	1.90%	1.80%	1.55%
MSCI MSCI Inc.	1.38%	1.25%	1.07%	0.98%	0.98%	0.59%	0.65%	0.98%	1.30%	1.04%	1.27%	1.11%

Drawdowns

NDAQ vs. MSCI - Drawdown Comparison

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

Drawdown Indicators

	NDAQ	MSCI	Difference
Max Drawdown Largest peak-to-trough decline	-68.48%	-69.06%	+0.58%
Max Drawdown (1Y) Largest decline over 1 year	-21.76%	-18.07%	-3.69%
Max Drawdown (5Y) Largest decline over 5 years	-32.84%	-43.74%	+10.90%
Max Drawdown (10Y) Largest decline over 10 years	-38.31%	-43.74%	+5.43%
Current Drawdown Current decline from peak	-15.67%	-16.20%	+0.53%
Average Drawdown Average peak-to-trough decline	-23.91%	-13.12%	-10.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	6.48%	+1.70%

Volatility

NDAQ vs. MSCI - Volatility Comparison

Nasdaq, Inc. (NDAQ) and MSCI Inc. (MSCI) have volatilities of 6.76% and 6.58%, 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

	NDAQ	MSCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	6.58%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	19.28%	21.10%	-1.82%
Volatility (1Y) Calculated over the trailing 1-year period	26.65%	30.07%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.67%	30.55%	-6.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.11%	31.03%	-6.92%

Financials

NDAQ vs. MSCI - Profitability Comparison

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

NDAQ - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported a gross profit of 1.39B and revenue of 2.08B. Therefore, the gross margin over that period was 66.9%.

MSCI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, MSCI Inc. reported a gross profit of 679.15M and revenue of 822.53M. Therefore, the gross margin over that period was 82.6%.

NDAQ - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported an operating income of 630.00M and revenue of 2.08B, resulting in an operating margin of 30.3%.

MSCI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, MSCI Inc. reported an operating income of 463.62M and revenue of 822.53M, resulting in an operating margin of 56.4%.

NDAQ - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported a net income of 519.00M and revenue of 2.08B, resulting in a net margin of 25.0%.

MSCI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, MSCI Inc. reported a net income of 284.67M and revenue of 822.53M, resulting in a net margin of 34.6%.