R2SC.L vs. ^NDX

Last updated Jun 4, 2026

R2SC.L (SPDR Russell 2000 US Small Cap UCITS ETF) is Small Cap Blend Equities fund tracking the Russell 2000 TR USD, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, R2SC.L returned 11.53%/yr vs 22.04%/yr for ^NDX. At a 0.42 correlation, their price movements are largely independent.

Performance

R2SC.L vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

R2SC.L is traded in GBP, while ^NDX is traded in USD. To make them comparable, the ^NDX values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, R2SC.L achieves a 16.67% return, which is significantly lower than ^NDX's 21.52% return. Over the past 10 years, R2SC.L has underperformed ^NDX with an annualized return of 11.53%, while ^NDX has yielded a comparatively higher 22.04% annualized return.

R2SC.L

• 1D: -0.62%
• 1M: 4.94%
• YTD: 16.67%
• 6M: 16.08%
• 1Y: 40.29%
• 3Y*: 15.25%
• 5Y*: 7.03%
• 10Y*: 11.53%

^NDX

• 1D: -0.03%
• 1M: 11.46%
• YTD: 21.52%
• 6M: 18.76%
• 1Y: 42.11%
• 3Y*: 24.92%
• 5Y*: 18.55%
• 10Y*: 22.04%

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

R2SC.L vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
R2SC.L SPDR Russell 2000 US Small Cap UCITS ETF	16.67%	4.66%	11.86%	12.18%	-11.55%	15.87%	15.73%	20.67%	-7.45%	4.45%
^NDX NASDAQ 100 Index	21.52%	11.61%	27.06%	46.12%	-25.00%	27.83%	43.25%	32.72%	4.83%	20.14%

Correlation

The correlation between R2SC.L and ^NDX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jul 3, 2014	0.42

The correlation between R2SC.L and ^NDX shifts across timeframes, from 0.36 (3 years) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

R2SC.L vs. ^NDX — Risk / Return Rank

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

R2SC.L

R2SC.L Risk / Return Rank: 72
R2SC.L Sharpe Ratio Rank: 71
R2SC.L Sortino Ratio Rank: 69
R2SC.L Omega Ratio Rank: 64
R2SC.L Calmar Ratio Rank: 85
R2SC.L Martin Ratio Rank: 73

^NDX

^NDX Risk / Return Rank: 81
^NDX Sharpe Ratio Rank: 83
^NDX Sortino Ratio Rank: 82
^NDX Omega Ratio Rank: 81
^NDX Calmar Ratio Rank: 81
^NDX Martin Ratio Rank: 80

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.

R2SC.L vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) and NASDAQ 100 Index (^NDX). 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.

	R2SC.L	^NDX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.74	-0.40
Sortino ratio: Return per unit of downside risk	3.19	3.51	-0.32
Omega ratio: Gain probability vs. loss probability	1.39	1.48	-0.09
Calmar ratio: Return relative to maximum drawdown	4.65	3.51	+1.13
Martin ratio: Return relative to average drawdown	13.68	10.60	+3.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

R2SC.L vs. ^NDX - Sharpe Ratio Comparison

The current R2SC.L Sharpe Ratio is 2.34, which is comparable to the ^NDX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of R2SC.L and ^NDX, 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

	R2SC.L	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.74	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.87	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.99	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.81	-0.27

Drawdowns

R2SC.L vs. ^NDX - Drawdown Comparison

The maximum R2SC.L drawdown since its inception was -35.03%, roughly equal to the maximum ^NDX drawdown of -34.63%. Use the drawdown chart below to compare losses from any high point for R2SC.L and ^NDX.

Drawdown Indicators

	R2SC.L	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-35.03%	-34.63%	-0.40%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-12.05%	+3.42%
Max Drawdown (3Y) Largest decline over 3 years	-30.00%	-24.98%	-5.02%
Max Drawdown (5Y) Largest decline over 5 years	-30.00%	-28.43%	-1.57%
Max Drawdown (10Y) Largest decline over 10 years	-35.03%	-28.43%	-6.60%
Current Drawdown Current decline from peak	-1.21%	-0.03%	-1.18%
Average Drawdown Average peak-to-trough decline	-8.52%	-5.62%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	3.98%	-1.04%

Volatility

R2SC.L vs. ^NDX - Volatility Comparison

SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) has a higher volatility of 5.26% compared to NASDAQ 100 Index (^NDX) at 4.01%. This indicates that R2SC.L's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	R2SC.L	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	4.01%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	11.04%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	15.45%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.06%	21.32%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.78%	22.45%	-1.67%

Frequently Asked Questions

Can I hold both R2SC.L and ^NDX in my portfolio?

R2SC.L and ^NDX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.