SPAG.L vs. CNDX.L
SPAG.L (iShares Agribusiness UCITS ETF USD (Acc)) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - SPAG.L is a Global Equities fund tracking the iShares Agribusiness UCITS ETF USD (Acc), while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SPAG.L returned 7.09%/yr vs 20.65%/yr for CNDX.L. At a 0.48 correlation, their price movements are largely independent. SPAG.L charges 0.55%/yr vs 0.33%/yr for CNDX.L.
Performance
SPAG.L vs. CNDX.L - Performance Comparison
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Different Trading Currencies
SPAG.L is traded in GBp, while CNDX.L is traded in USD. To make them comparable, the CNDX.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPAG.L achieves a 11.48% return, which is significantly lower than CNDX.L's 15.44% return. Over the past 10 years, SPAG.L has underperformed CNDX.L with an annualized return of 7.09%, while CNDX.L has yielded a comparatively higher 20.65% annualized return.
SPAG.L
- 1D
- 0.56%
- 1M
- 0.75%
- 6M
- 5.38%
- YTD
- 11.48%
- 1Y
- 13.71%
- 3Y*
- 4.36%
- 5Y*
- 5.00%
- 10Y*
- 7.09%
CNDX.L
- 1D
- -1.70%
- 1M
- -4.33%
- 6M
- 15.30%
- YTD
- 15.44%
- 1Y
- 27.03%
- 3Y*
- 22.42%
- 5Y*
- 15.67%
- 10Y*
- 20.65%
SPAG.L vs. CNDX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAG.L iShares Agribusiness UCITS ETF USD (Acc) | 11.48% | 8.75% | -4.21% | -13.78% | 15.09% | 24.65% | 6.64% | 13.92% | -7.95% | 9.25% |
CNDX.L iShares NASDAQ 100 UCITS ETF | 15.44% | 11.22% | 28.63% | 48.41% | -25.58% | 29.13% | 43.89% | 32.71% | 4.78% | 20.50% |
Correlation
The correlation between SPAG.L and CNDX.L is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011 | 0.48 |
Over the past year, the correlation between SPAG.L and CNDX.L has dropped to 0.04 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.
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Return for Risk
SPAG.L vs. CNDX.L — Risk / Return Rank
SPAG.L
CNDX.L
SPAG.L vs. CNDX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agribusiness UCITS ETF USD (Acc) (SPAG.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.
| SPAG.L | CNDX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.28 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.42 | -0.83 |
| Martin ratioReturn relative to average drawdown | 4.12 | 6.60 | -2.48 |
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Drawdowns
SPAG.L vs. CNDX.L - Drawdown Comparison
The maximum SPAG.L drawdown since its inception was -43.95%, which is greater than CNDX.L's maximum drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for SPAG.L and CNDX.L.
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Drawdown Indicators
| SPAG.L | CNDX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.95% | -27.78% | -16.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -11.11% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -27.60% | -24.37% | -3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -31.95% | -27.78% | -4.17% |
Max Drawdown (10Y)Largest decline over 10 years | -31.95% | -27.78% | -4.17% |
Current DrawdownCurrent decline from peak | -10.54% | -5.16% | -5.38% |
Average DrawdownAverage peak-to-trough decline | -17.43% | -4.54% | -12.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 4.09% | -0.37% |
Volatility
SPAG.L vs. CNDX.L - Volatility Comparison
The current volatility for iShares Agribusiness UCITS ETF USD (Acc) (SPAG.L) is 3.21%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 6.03%. This indicates that SPAG.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
| SPAG.L | CNDX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 6.03% | -2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 13.55% | -3.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.82% | 17.31% | -4.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 20.37% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 20.19% | -1.23% |
SPAG.L vs. CNDX.L - Expense Ratio Comparison
SPAG.L has a 0.55% expense ratio, which is higher than CNDX.L's 0.33% expense ratio.
Dividends
SPAG.L vs. CNDX.L - Dividend Comparison
Neither SPAG.L nor CNDX.L has paid dividends to shareholders.
Frequently Asked Questions
SPAG.L and CNDX.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNDX.L is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNDX.L is cheaper with a 0.33% expense ratio, compared with 0.55% for SPAG.L.
SPAG.L is categorized as Global Equities, while CNDX.L is Nasdaq-100. SPAG.L tracks iShares Agribusiness UCITS ETF USD (Acc), while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.55% for SPAG.L and 0.33% for CNDX.L.
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