QQQ3.L vs. CNX1.L
QQQ3.L (WisdomTree NASDAQ 100 3x Daily Leveraged) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both Nasdaq-100 funds - QQQ3.L tracks the NASDAQ-100 Index (300%) while CNX1.L tracks the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, QQQ3.L returned 43.93%/yr vs 21.54%/yr for CNX1.L. Their correlation of 0.93 suggests significant overlap in exposure. QQQ3.L charges 0.75%/yr vs 0.36%/yr for CNX1.L.
Performance
QQQ3.L vs. CNX1.L - Performance Comparison
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Different Trading Currencies
QQQ3.L is traded in USD, while CNX1.L is traded in GBp. To make them comparable, the CNX1.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, QQQ3.L achieves a 56.06% return, which is significantly higher than CNX1.L's 19.55% return. Over the past 10 years, QQQ3.L has outperformed CNX1.L with an annualized return of 43.93%, while CNX1.L has yielded a comparatively lower 21.54% annualized return.
QQQ3.L
- 1D
- -2.48%
- 1M
- 25.62%
- YTD
- 56.06%
- 6M
- 51.95%
- 1Y
- 124.35%
- 3Y*
- 64.10%
- 5Y*
- 26.81%
- 10Y*
- 43.93%
CNX1.L
- 1D
- -0.58%
- 1M
- 8.70%
- YTD
- 19.55%
- 6M
- 19.30%
- 1Y
- 40.34%
- 3Y*
- 27.90%
- 5Y*
- 17.58%
- 10Y*
- 21.54%
QQQ3.L vs. CNX1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQQ3.L WisdomTree NASDAQ 100 3x Daily Leveraged | 56.06% | 27.64% | 59.91% | 209.50% | -79.58% | 87.37% | 110.13% | 128.92% | -21.29% | 114.27% |
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 19.55% | 19.98% | 26.37% | 55.50% | -33.49% | 28.32% | 47.63% | 38.99% | -1.30% | 31.56% |
Correlation
The correlation between QQQ3.L and CNX1.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2012 | 0.93 |
The correlation between QQQ3.L and CNX1.L has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
QQQ3.L vs. CNX1.L — Risk / Return Rank
QQQ3.L
CNX1.L
QQQ3.L vs. CNX1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree NASDAQ 100 3x Daily Leveraged (QQQ3.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.
| QQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.44 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 3.65 | -0.21 |
| Martin ratioReturn relative to average drawdown | 10.78 | 13.38 | -2.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.61 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.86 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 1.09 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 1.07 | -0.25 |
Drawdowns
QQQ3.L vs. CNX1.L - Drawdown Comparison
The maximum QQQ3.L drawdown since its inception was -81.35%, which is greater than CNX1.L's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for QQQ3.L and CNX1.L.
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Drawdown Indicators
| QQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.35% | -35.21% | -46.14% |
Max Drawdown (1Y)Largest decline over 1 year | -35.92% | -10.99% | -24.93% |
Max Drawdown (3Y)Largest decline over 3 years | -58.20% | -23.11% | -35.09% |
Max Drawdown (5Y)Largest decline over 5 years | -81.35% | -35.21% | -46.14% |
Max Drawdown (10Y)Largest decline over 10 years | -81.35% | -35.21% | -46.14% |
Current DrawdownCurrent decline from peak | -2.48% | -0.77% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -19.62% | -5.19% | -14.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.49% | 3.01% | +8.48% |
Volatility
QQQ3.L vs. CNX1.L - Volatility Comparison
WisdomTree NASDAQ 100 3x Daily Leveraged (QQQ3.L) has a higher volatility of 14.73% compared to iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) at 4.33%. This indicates that QQQ3.L's price experiences larger fluctuations and is considered to be riskier than CNX1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQ3.L | CNX1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.73% | 4.33% | +10.40% |
Volatility (6M)Calculated over the trailing 6-month period | 34.78% | 11.28% | +23.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.01% | 15.39% | +31.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.24% | 20.48% | +41.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.91% | 19.91% | +40.00% |
QQQ3.L vs. CNX1.L - Expense Ratio Comparison
QQQ3.L has a 0.75% expense ratio, which is higher than CNX1.L's 0.36% expense ratio.
Dividends
QQQ3.L vs. CNX1.L - Dividend Comparison
Neither QQQ3.L nor CNX1.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, QQQ3.L and CNX1.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, CNX1.L is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNX1.L is cheaper with a 0.36% expense ratio, compared with 0.75% for QQQ3.L.
QQQ3.L tracks NASDAQ-100 Index (300%), while CNX1.L tracks NASDAQ-100 Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.75% for QQQ3.L and 0.36% for CNX1.L.
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