NDQ.AX vs. BTC-USD

Last updated Jun 5, 2026

NDQ.AX (BetaShares NASDAQ 100 ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, NDQ.AX returned 21.80%/yr vs 60.27%/yr for BTC-USD. At a correlation of -0.03, they often move in opposite directions.

Performance

NDQ.AX vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares NASDAQ 100 ETF (NDQ.AX) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NDQ.AX is traded in AUD, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, NDQ.AX achieves a 12.48% return, which is significantly higher than BTC-USD's -32.04% return. Over the past 10 years, NDQ.AX has underperformed BTC-USD with an annualized return of 21.80%, while BTC-USD has yielded a comparatively higher 60.27% annualized return.

NDQ.AX

• 1D: -0.22%
• 1M: 10.02%
• YTD: 12.48%
• 6M: 10.31%
• 1Y: 28.25%
• 3Y*: 25.30%
• 5Y*: 19.70%
• 10Y*: 21.80%

BTC-USD

• 1D: -0.79%
• 1M: -20.88%
• YTD: -32.04%
• 6M: -36.05%
• 1Y: -44.80%
• 3Y*: 31.82%
• 5Y*: 13.36%
• 10Y*: 60.27%

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

NDQ.AX vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NDQ.AX BetaShares NASDAQ 100 ETF	12.48%	12.19%	38.30%	53.41%	-28.42%	35.46%	34.50%	39.66%	9.14%	21.89%
BTC-USD Bitcoin	-32.04%	-13.08%	144.27%	153.58%	-61.70%	68.75%	269.04%	95.00%	-71.94%	1,300.44%

Correlation

The correlation between NDQ.AX and BTC-USD is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (5Y) Calculated over the trailing 5-year period	-0.08
Correlation (10Y) Calculated over the trailing 10-year period	-0.04
Correlation (All Time) Calculated using the full available price history since May 27, 2015	-0.03

Return for Risk

NDQ.AX vs. BTC-USD — Risk / Return Rank

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

NDQ.AX

NDQ.AX Risk / Return Rank: 49
NDQ.AX Sharpe Ratio Rank: 61
NDQ.AX Sortino Ratio Rank: 57
NDQ.AX Omega Ratio Rank: 60
NDQ.AX Calmar Ratio Rank: 38
NDQ.AX Martin Ratio Rank: 32

BTC-USD

BTC-USD Risk / Return Rank: 30
BTC-USD Sharpe Ratio Rank: 16
BTC-USD Sortino Ratio Rank: 34
BTC-USD Omega Ratio Rank: 32
BTC-USD Calmar Ratio Rank: 48
BTC-USD Martin Ratio Rank: 21

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.

NDQ.AX vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaShares NASDAQ 100 ETF (NDQ.AX) and Bitcoin (BTC-USD). 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.

	NDQ.AX	BTC-USD	Difference
Sharpe ratio: Return per unit of total volatility	1.99	-1.10	+3.10
Sortino ratio: Return per unit of downside risk	2.65	-1.64	+4.29
Omega ratio: Gain probability vs. loss probability	1.36	0.82	+0.53
Calmar ratio: Return relative to maximum drawdown	1.85	-0.85	+2.69
Martin ratio: Return relative to average drawdown	4.77	-1.48	+6.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDQ.AX vs. BTC-USD - Sharpe Ratio Comparison

The current NDQ.AX Sharpe Ratio is 1.99, which is higher than the BTC-USD Sharpe Ratio of -1.10. The chart below compares the historical Sharpe Ratios of NDQ.AX and BTC-USD, 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

	NDQ.AX	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	-1.10	+3.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	0.25	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.13	0.90	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	1.18	-0.12

Drawdowns

NDQ.AX vs. BTC-USD - Drawdown Comparison

The maximum NDQ.AX drawdown since its inception was -30.79%, smaller than the maximum BTC-USD drawdown of -83.70%. Use the drawdown chart below to compare losses from any high point for NDQ.AX and BTC-USD.

Drawdown Indicators

	NDQ.AX	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-30.79%	-83.70%	+52.91%
Max Drawdown (1Y) Largest decline over 1 year	-15.17%	-52.75%	+37.58%
Max Drawdown (3Y) Largest decline over 3 years	-21.27%	-52.75%	+31.48%
Max Drawdown (5Y) Largest decline over 5 years	-30.79%	-73.77%	+42.98%
Max Drawdown (10Y) Largest decline over 10 years	-30.79%	-82.07%	+51.28%
Current Drawdown Current decline from peak	-0.22%	-52.75%	+52.53%
Average Drawdown Average peak-to-trough decline	-5.87%	-39.27%	+33.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.89%	36.30%	-30.41%

Volatility

NDQ.AX vs. BTC-USD - Volatility Comparison

The current volatility for BetaShares NASDAQ 100 ETF (NDQ.AX) is 2.85%, while Bitcoin (BTC-USD) has a volatility of 10.02%. This indicates that NDQ.AX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDQ.AX	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	10.02%	-7.17%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	33.11%	-22.84%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	33.72%	-19.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.11%	44.26%	-25.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.14%	55.55%	-36.41%

Frequently Asked Questions

Can I hold both NDQ.AX and BTC-USD in my portfolio?

NDQ.AX and BTC-USD have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.