ROLL.L vs. CNDX.L
ROLL.L (iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - ROLL.L is a Commodities fund tracking the iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF, while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, ROLL.L returned 12.62%/yr vs 15.27%/yr for CNDX.L. At a 0.22 correlation, their price movements are largely independent. ROLL.L charges 0.28%/yr vs 0.33%/yr for CNDX.L.
Performance
ROLL.L vs. CNDX.L - Performance Comparison
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Returns By Period
In the year-to-date period, ROLL.L achieves a 23.85% return, which is significantly higher than CNDX.L's 15.91% return.
ROLL.L
- 1D
- 0.55%
- 1M
- 1.79%
- 6M
- 17.06%
- YTD
- 23.85%
- 1Y
- 34.95%
- 3Y*
- 14.61%
- 5Y*
- 12.62%
- 10Y*
- —
CNDX.L
- 1D
- -0.67%
- 1M
- -3.48%
- 6M
- 16.01%
- YTD
- 15.91%
- 1Y
- 28.40%
- 3Y*
- 23.77%
- 5Y*
- 15.27%
- 10Y*
- 20.97%
ROLL.L vs. CNDX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ROLL.L iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF | 23.85% | 16.94% | 4.68% | -2.22% | 16.67% | 27.69% | 0.83% | 5.26% | -11.11% |
CNDX.L iShares NASDAQ 100 UCITS ETF | 15.91% | 19.75% | 26.42% | 56.22% | -33.49% | 27.92% | 48.25% | 37.96% | -17.05% |
Correlation
The correlation between ROLL.L and CNDX.L is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.22 |
The correlation between ROLL.L and CNDX.L shifts across timeframes, from -0.02 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ROLL.L vs. CNDX.L — Risk / Return Rank
ROLL.L
CNDX.L
ROLL.L vs. CNDX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L) and iShares NASDAQ 100 UCITS ETF (CNDX.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ROLL.L | CNDX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.29 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.57 | -0.07 |
| Martin ratioReturn relative to average drawdown | 8.63 | 8.61 | +0.02 |
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Drawdowns
ROLL.L vs. CNDX.L - Drawdown Comparison
The maximum ROLL.L drawdown since its inception was -26.90%, smaller than the maximum CNDX.L drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for ROLL.L and CNDX.L.
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Drawdown Indicators
| ROLL.L | CNDX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.90% | -35.21% | +8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -13.94% | -11.00% | -2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -13.94% | -22.44% | +8.50% |
Max Drawdown (5Y)Largest decline over 5 years | -20.45% | -35.21% | +14.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.21% | — |
Current DrawdownCurrent decline from peak | -7.46% | -3.87% | -3.59% |
Average DrawdownAverage peak-to-trough decline | -9.17% | -5.12% | -4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 3.29% | +0.75% |
Volatility
ROLL.L vs. CNDX.L - Volatility Comparison
The current volatility for iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L) is 4.60%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 5.89%. This indicates that ROLL.L experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ROLL.L | CNDX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 5.89% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 14.48% | 13.78% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.55% | 17.32% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 21.15% | -4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.96% | 20.13% | -5.17% |
ROLL.L vs. CNDX.L - Expense Ratio Comparison
ROLL.L has a 0.28% expense ratio, which is lower than CNDX.L's 0.33% expense ratio.
Dividends
ROLL.L vs. CNDX.L - Dividend Comparison
Neither ROLL.L nor CNDX.L has paid dividends to shareholders.
Frequently Asked Questions
ROLL.L and CNDX.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ROLL.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ROLL.L is cheaper with a 0.28% expense ratio, compared with 0.33% for CNDX.L.
ROLL.L is categorized as Commodities, while CNDX.L is Nasdaq-100. ROLL.L tracks iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF, while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.28% for ROLL.L and 0.33% for CNDX.L.
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