WTCH.AS vs. CNX1.L
WTCH.AS (SPDR MSCI World Technology UCITS ETF) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both exchange-traded funds - WTCH.AS is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, WTCH.AS returned 23.98%/yr vs 21.10%/yr for CNX1.L. Their correlation of 0.90 suggests significant overlap in exposure. WTCH.AS charges 0.30%/yr vs 0.36%/yr for CNX1.L.
Performance
WTCH.AS vs. CNX1.L - Performance Comparison
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Different Trading Currencies
WTCH.AS is traded in EUR, while CNX1.L is traded in GBp. To make them comparable, the CNX1.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, WTCH.AS achieves a 25.44% return, which is significantly higher than CNX1.L's 18.44% return. Over the past 10 years, WTCH.AS has outperformed CNX1.L with an annualized return of 23.98%, while CNX1.L has yielded a comparatively lower 21.10% annualized return.
WTCH.AS
- 1D
- -1.95%
- 1M
- 10.13%
- YTD
- 25.44%
- 6M
- 22.27%
- 1Y
- 47.64%
- 3Y*
- 29.25%
- 5Y*
- 22.49%
- 10Y*
- 23.98%
CNX1.L
- 1D
- -0.23%
- 1M
- 3.85%
- YTD
- 18.44%
- 6M
- 16.46%
- 1Y
- 34.49%
- 3Y*
- 24.15%
- 5Y*
- 18.05%
- 10Y*
- 21.10%
WTCH.AS vs. CNX1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WTCH.AS SPDR MSCI World Technology UCITS ETF | 25.44% | 8.41% | 43.39% | 49.09% | -27.66% | 40.88% | 31.79% | 49.43% | 1.91% | 21.26% |
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 18.44% | 5.75% | 34.71% | 50.84% | -29.37% | 37.92% | 35.46% | 42.13% | 3.33% | 15.39% |
Correlation
The correlation between WTCH.AS and CNX1.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 4, 2016 | 0.90 |
The correlation between WTCH.AS and CNX1.L has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
WTCH.AS vs. CNX1.L — Risk / Return Rank
WTCH.AS
CNX1.L
WTCH.AS vs. CNX1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Technology UCITS ETF (WTCH.AS) 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.
| WTCH.AS | CNX1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.38 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 3.37 | -0.31 |
| Martin ratioReturn relative to average drawdown | 8.10 | 10.04 | -1.94 |
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
| WTCH.AS | CNX1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.21 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.59 | +0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | 0.81 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 0.04 | +1.11 |
Drawdowns
WTCH.AS vs. CNX1.L - Drawdown Comparison
The maximum WTCH.AS drawdown since its inception was -31.28%, roughly equal to the maximum CNX1.L drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for WTCH.AS and CNX1.L.
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Drawdown Indicators
| WTCH.AS | CNX1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.28% | -31.25% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -15.67% | -10.18% | -5.49% |
Max Drawdown (3Y)Largest decline over 3 years | -30.06% | -26.50% | -3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -30.06% | -31.25% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -31.28% | -31.25% | -0.03% |
Current DrawdownCurrent decline from peak | -2.46% | -2.75% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -5.89% | -5.58% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.96% | 3.42% | +2.54% |
Volatility
WTCH.AS vs. CNX1.L - Volatility Comparison
SPDR MSCI World Technology UCITS ETF (WTCH.AS) has a higher volatility of 7.02% compared to iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) at 4.36%. This indicates that WTCH.AS's price experiences larger fluctuations and is considered to be riskier 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
| WTCH.AS | CNX1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 4.36% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 14.82% | 10.94% | +3.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.28% | 15.55% | +4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.45% | 30.91% | -8.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.39% | 25.91% | -4.52% |
WTCH.AS vs. CNX1.L - Expense Ratio Comparison
WTCH.AS has a 0.30% expense ratio, which is lower than CNX1.L's 0.36% expense ratio.
Dividends
WTCH.AS vs. CNX1.L - Dividend Comparison
Neither WTCH.AS nor CNX1.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, WTCH.AS and CNX1.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, WTCH.AS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WTCH.AS is cheaper with a 0.30% expense ratio, compared with 0.36% for CNX1.L.
WTCH.AS is categorized as Technology Equities, while CNX1.L is Nasdaq-100. WTCH.AS tracks MSCI World/Information Tech NR USD, while CNX1.L tracks NASDAQ-100 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for WTCH.AS and 0.36% for CNX1.L.
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