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WSML.L vs. CNDX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WSML.L vs. CNDX.L

Last updated Jun 4, 2026

WSML.L (iShares MSCI World Small Cap UCITS ETF USD (Acc)) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - WSML.L is a Global Equities fund tracking the MSCI World Small Cap Index, while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, WSML.L returned 6.95%/yr vs 17.77%/yr for CNDX.L. A 0.72 correlation means they provide meaningful diversification when combined. WSML.L charges 0.35%/yr vs 0.33%/yr for CNDX.L.

Performance

WSML.L vs. CNDX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) and iShares NASDAQ 100 UCITS ETF (CNDX.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WSML.L achieves a 13.77% return, which is significantly lower than CNDX.L's 20.45% return.

WSML.L

1D
-0.41%
1M
3.09%
YTD
13.77%
6M
15.69%
1Y
32.37%
3Y*
17.80%
5Y*
6.95%
10Y*
—

CNDX.L

1D
-0.10%
1M
10.73%
YTD
20.45%
6M
19.79%
1Y
41.85%
3Y*
28.56%
5Y*
17.77%
10Y*
21.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WSML.L vs. CNDX.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
WSML.L
iShares MSCI World Small Cap UCITS ETF USD (Acc)		13.77%19.94%7.40%17.06%-18.62%15.23%16.50%24.35%-12.64%
CNDX.L
iShares NASDAQ 100 UCITS ETF		20.45%19.75%26.45%56.31%-33.45%27.96%48.33%38.07%-2.36%

Correlation

The correlation between WSML.L and CNDX.L is 0.71, 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

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.66

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Apr 3, 2018

0.72

The correlation between WSML.L and CNDX.L has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

WSML.L vs. CNDX.L - Sectors Allocation Comparison

Sectors
WSML.L
CNDX.L

Industrials

20.5%
2.8%

Financial Services

13.5%
0.2%

Technology

13.5%
57.3%

Consumer Cyclical

10.9%
11.6%

Healthcare

9.6%
3.8%

Basic Materials

8.2%
1.1%

Real Estate

8.2%
0.1%

Energy

5.5%
0.5%

Consumer Defensive

4.1%
6.9%

Communication Services

3.0%
14.5%

Utilities

2.9%
1.3%

Industrials

WSML.L
20.5%
CNDX.L
2.8%

Financial Services

WSML.L
13.5%
CNDX.L
0.2%

Technology

WSML.L
13.5%
CNDX.L
57.3%

Consumer Cyclical

WSML.L
10.9%
CNDX.L
11.6%

Healthcare

WSML.L
9.6%
CNDX.L
3.8%

Basic Materials

WSML.L
8.2%
CNDX.L
1.1%

Real Estate

WSML.L
8.2%
CNDX.L
0.1%

Energy

WSML.L
5.5%
CNDX.L
0.5%

Consumer Defensive

WSML.L
4.1%
CNDX.L
6.9%

Communication Services

WSML.L
3.0%
CNDX.L
14.5%

Utilities

WSML.L
2.9%
CNDX.L
1.3%

Compare stocks, funds, or ETFs

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iShares MSCI World Small Cap UCITS ETF USD (Acc)

iShares NASDAQ 100 UCITS ETF

Often compared with WSML.L:
WSML.L vs. CSPX.LWSML.L vs. EIMI.LWSML.L vs. AVSG.LWSML.L vs. IWDA.ASWSML.L vs. VWRA.LWSML.L vs. VBRWSML.L vs. R2SC.L
Often compared with CNDX.L:
CNDX.L vs. QQQCNDX.L vs. EQQQ.DECNDX.L vs. SXRV.DECNDX.L vs. CNX1.LCNDX.L vs. CSPX.LCNDX.L vs. EQQU.LCNDX.L vs. VWRA.L

Return for Risk

WSML.L vs. CNDX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WSML.L
WSML.L Risk / Return Rank: 6767
Overall Rank
WSML.L Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
WSML.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
WSML.L Omega Ratio Rank: 6262
Omega Ratio Rank
WSML.L Calmar Ratio Rank: 7171
Calmar Ratio Rank
WSML.L Martin Ratio Rank: 6969
Martin Ratio Rank
CNDX.L
CNDX.L Risk / Return Rank: 7575
Overall Rank
CNDX.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
CNDX.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
CNDX.L Omega Ratio Rank: 7474
Omega Ratio Rank
CNDX.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
CNDX.L Martin Ratio Rank: 7171
Martin Ratio Rank
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.

WSML.L vs. CNDX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.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.

WSML.LCNDX.LDifference
Sharpe ratioReturn per unit of total volatility
2.19
2.62

-0.43

Sortino ratioReturn per unit of downside risk
3.28
3.62

-0.34

Omega ratioGain probability vs. loss probability

1.38

1.45

-0.07

Calmar ratioReturn relative to maximum drawdown

3.57

3.75

-0.19

Martin ratioReturn relative to average drawdown

13.00

13.54

-0.54

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WSML.L vs. CNDX.L - Sharpe Ratio Comparison

The current WSML.L Sharpe Ratio is 2.19, which is comparable to the CNDX.L Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of WSML.L and CNDX.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

WSML.LCNDX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

2.62

-0.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.38

0.85

-0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.08

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

1.12

-0.66

Drawdowns

WSML.L vs. CNDX.L - Drawdown Comparison

The maximum WSML.L drawdown since its inception was -41.14%, which is greater than CNDX.L's maximum drawdown of -35.17%. Use the drawdown chart below to compare losses from any high point for WSML.L and CNDX.L.

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Drawdown Indicators

WSML.LCNDX.LDifference

Max Drawdown

Largest peak-to-trough decline

-41.14%

-35.17%

-5.97%

Max Drawdown (1Y)

Largest decline over 1 year

-9.03%

-11.00%

+1.97%

Max Drawdown (3Y)

Largest decline over 3 years

-20.10%

-22.44%

+2.34%

Max Drawdown (5Y)

Largest decline over 5 years

-30.50%

-35.17%

+4.67%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.17%

—

Current Drawdown

Current decline from peak

-0.41%

-0.10%

-0.31%

Average Drawdown

Average peak-to-trough decline

-8.80%

-5.30%

-3.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.48%

3.07%

-0.59%

Volatility

WSML.L vs. CNDX.L - Volatility Comparison

The current volatility for iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) is 4.42%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 4.86%. This indicates that WSML.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

WSML.LCNDX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.42%

4.86%

-0.44%

Volatility (6M)

Calculated over the trailing 6-month period

11.23%

11.86%

-0.63%

Volatility (1Y)

Calculated over the trailing 1-year period

14.75%

15.82%

-1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.48%

20.88%

-2.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.60%

20.07%

-0.47%

WSML.L vs. CNDX.L - Expense Ratio Comparison

WSML.L has a 0.35% expense ratio, which is higher than CNDX.L's 0.33% expense ratio.

Dividends

WSML.L vs. CNDX.L - Dividend Comparison

Neither WSML.L nor CNDX.L has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CNDX.L
iShares NASDAQ 100 UCITS ETF		0.00%0.00%0.02%0.05%0.06%0.03%0.04%0.07%0.06%0.30%0.16%0.16%
WSML.L
iShares MSCI World Small Cap UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

WSML.L and CNDX.L have a correlation of 0.71, 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 0.35% for WSML.L.

WSML.L is categorized as Global Equities, while CNDX.L is Nasdaq-100. WSML.L tracks MSCI World Small Cap Index, while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.35% for WSML.L and 0.33% for CNDX.L.

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