QQQO.L vs. CNX1.L
QQQO.L (IncomeShares Nasdaq 100 Options (0DTE) ETP GBP) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both Nasdaq-100 funds. QQQO.L is actively managed, while CNX1.L is passively managed. Over the past year, QQQO.L returned 33.32% vs 41.69% for CNX1.L. A 0.68 correlation means they provide meaningful diversification when combined. QQQO.L charges 0.45%/yr vs 0.36%/yr for CNX1.L.
Performance
QQQO.L vs. CNX1.L - Performance Comparison
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Returns By Period
In the year-to-date period, QQQO.L achieves a 15.53% return, which is significantly lower than CNX1.L's 19.85% return.
QQQO.L
- 1D
- -0.66%
- 1M
- 6.84%
- YTD
- 15.53%
- 6M
- 14.50%
- 1Y
- 33.32%
- 3Y*
- —
- 5Y*
- —
- 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%
QQQO.L vs. CNX1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQO.L IncomeShares Nasdaq 100 Options (0DTE) ETP GBP | 15.53% | 6.57% | 12.88% |
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 19.85% | 11.57% | 16.26% |
Correlation
The correlation between QQQO.L and CNX1.L is 0.74, 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 | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024 | 0.68 |
The correlation between QQQO.L and CNX1.L has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
QQQO.L vs. CNX1.L — Risk / Return Rank
QQQO.L
CNX1.L
QQQO.L vs. CNX1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares Nasdaq 100 Options (0DTE) ETP GBP (QQQO.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.
| QQQO.L | CNX1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.50 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.71 | 3.76 | +0.95 |
| Martin ratioReturn relative to average drawdown | 11.27 | 11.10 | +0.17 |
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
| QQQO.L | CNX1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.82 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.98 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 1.14 | +0.04 |
Drawdowns
QQQO.L vs. CNX1.L - Drawdown Comparison
The maximum QQQO.L drawdown since its inception was -21.70%, smaller than the maximum CNX1.L drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for QQQO.L and CNX1.L.
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Drawdown Indicators
| QQQO.L | CNX1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.70% | -27.56% | +5.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -11.03% | +3.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.56% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.56% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.56% | — |
Current DrawdownCurrent decline from peak | -0.66% | -0.63% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -4.57% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 3.75% | -0.80% |
Volatility
QQQO.L vs. CNX1.L - Volatility Comparison
The current volatility for IncomeShares Nasdaq 100 Options (0DTE) ETP GBP (QQQO.L) is 3.90%, while iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) has a volatility of 4.13%. This indicates that QQQO.L experiences smaller price fluctuations and is considered to be less risky 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
| QQQO.L | CNX1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 4.13% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 8.93% | 10.38% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.00% | 14.70% | -0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 19.16% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.34% | 19.44% | -2.10% |
QQQO.L vs. CNX1.L - Expense Ratio Comparison
QQQO.L has a 0.45% expense ratio, which is higher than CNX1.L's 0.36% expense ratio.
Dividends
QQQO.L vs. CNX1.L - Dividend Comparison
QQQO.L's dividend yield for the trailing twelve months is around 67.52%, while CNX1.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% |
QQQO.L IncomeShares Nasdaq 100 Options (0DTE) ETP GBP | 67.52% | 124.53% | 17.93% |
Frequently Asked Questions
QQQO.L and CNX1.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.45% for QQQO.L.
They also come from different issuers: Leverage Shares and iShares. Their fees differ too: 0.45% for QQQO.L and 0.36% for CNX1.L.
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