XNAQ.L vs. TDGB.L

Last updated Jun 26, 2026

XNAQ.L (Xtrackers Nasdaq 100 UCITS ETF 1C) and TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - XNAQ.L is a Nasdaq-100 fund tracking the Russell 1000 Growth TR USD, while TDGB.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 5 years, XNAQ.L returned 17.09%/yr vs 17.76%/yr for TDGB.L. At a 0.30 correlation, their price movements are largely independent. XNAQ.L charges 0.20%/yr vs 0.38%/yr for TDGB.L.

Performance

XNAQ.L vs. TDGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XNAQ.L achieves a 17.71% return, which is significantly higher than TDGB.L's 9.19% return.

XNAQ.L

• 1D: -0.77%
• 1M: -0.17%
• YTD: 17.71%
• 6M: 17.47%
• 1Y: 36.49%
• 3Y*: 24.50%
• 5Y*: 17.09%
• 10Y*: —

TDGB.L

• 1D: 0.25%
• 1M: -0.85%
• YTD: 9.19%
• 6M: 9.90%
• 1Y: 29.91%
• 3Y*: 20.98%
• 5Y*: 17.76%
• 10Y*: 10.68%

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

XNAQ.L vs. TDGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XNAQ.L Xtrackers Nasdaq 100 UCITS ETF 1C	17.71%	11.72%	28.64%	47.82%	-25.44%	-8.88%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	9.19%	30.90%	10.66%	9.04%	22.49%	14.77%

Correlation

The correlation between XNAQ.L and TDGB.L is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.30

Over the past year, the correlation between XNAQ.L and TDGB.L has dropped to 0.06 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

XNAQ.L vs. TDGB.L - Sectors Allocation Comparison

Sectors	XNAQ.L	TDGB.L
Technology	58.5%	0.3%
Communication Services	14.3%	8.7%
Consumer Cyclical	11.4%	3.8%
Consumer Defensive	6.4%	10.0%
Healthcare	3.7%	14.4%
Industrials	2.8%	4.0%
Utilities	1.2%	6.2%
Basic Materials	1.0%	1.2%
Energy	0.5%	19.7%
Financial Services	0.2%	31.9%
Real Estate	0.1%	0.0%

Return for Risk

XNAQ.L vs. TDGB.L — Risk / Return Rank

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

XNAQ.L

XNAQ.L Risk / Return Rank: 76
XNAQ.L Sharpe Ratio Rank: 83
XNAQ.L Sortino Ratio Rank: 80
XNAQ.L Omega Ratio Rank: 80
XNAQ.L Calmar Ratio Rank: 74
XNAQ.L Martin Ratio Rank: 61

TDGB.L

TDGB.L Risk / Return Rank: 94
TDGB.L Sharpe Ratio Rank: 95
TDGB.L Sortino Ratio Rank: 95
TDGB.L Omega Ratio Rank: 94
TDGB.L Calmar Ratio Rank: 94
TDGB.L Martin Ratio Rank: 93

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.

XNAQ.L vs. TDGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.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.

	XNAQ.L	TDGB.L	Difference
Sharpe ratio: Return per unit of total volatility	2.31	3.21	-0.90
Sortino ratio: Return per unit of downside risk	3.08	4.47	-1.40
Omega ratio: Gain probability vs. loss probability	1.41	1.60	-0.20
Calmar ratio: Return relative to maximum drawdown	3.30	6.39	-3.08
Martin ratio: Return relative to average drawdown	9.53	21.09	-11.56

XNAQ.L vs. TDGB.L - Sharpe Ratio Comparison

The current XNAQ.L Sharpe Ratio is 2.31, which is comparable to the TDGB.L Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of XNAQ.L and TDGB.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.

Drawdowns

XNAQ.L vs. TDGB.L - Drawdown Comparison

The maximum XNAQ.L drawdown since its inception was -34.26%, roughly equal to the maximum TDGB.L drawdown of -32.94%. Use the drawdown chart below to compare losses from any high point for XNAQ.L and TDGB.L.

Drawdown Indicators

	XNAQ.L	TDGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-32.94%	-1.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.99%	-4.66%	-6.33%
Max Drawdown (3Y) Largest decline over 3 years	-24.55%	-12.42%	-12.13%
Max Drawdown (5Y) Largest decline over 5 years	-27.52%	-12.42%	-15.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.94%	—
Current Drawdown Current decline from peak	-3.27%	-1.22%	-2.05%
Average Drawdown Average peak-to-trough decline	-13.59%	-4.91%	-8.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	1.41%	+2.41%

Volatility

XNAQ.L vs. TDGB.L - Volatility Comparison

Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) has a higher volatility of 6.27% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) at 2.13%. This indicates that XNAQ.L's price experiences larger fluctuations and is considered to be riskier than TDGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNAQ.L	TDGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	2.13%	+4.14%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	7.03%	+4.63%
Volatility (1Y) Calculated over the trailing 1-year period	15.74%	9.29%	+6.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.69%	11.43%	+12.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.95%	13.69%	+12.26%

XNAQ.L vs. TDGB.L - Expense Ratio Comparison

XNAQ.L has a 0.20% expense ratio, which is lower than TDGB.L's 0.38% expense ratio.

Dividends

XNAQ.L vs. TDGB.L - Dividend Comparison

XNAQ.L has not paid dividends to shareholders, while TDGB.L's dividend yield for the trailing twelve months is around 3.19%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.19%	3.50%	4.26%	4.93%	4.40%	4.06%	4.16%	4.52%	4.38%	3.48%
XNAQ.L Xtrackers Nasdaq 100 UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XNAQ.L and TDGB.L in my portfolio?

XNAQ.L and TDGB.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XNAQ.L or TDGB.L?

On fees, XNAQ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XNAQ.L or TDGB.L?

XNAQ.L is cheaper with a 0.20% expense ratio, compared with 0.38% for TDGB.L.

What is the main difference between XNAQ.L and TDGB.L?

XNAQ.L is categorized as Nasdaq-100, while TDGB.L is Global Equities. XNAQ.L tracks Russell 1000 Growth TR USD, while TDGB.L tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. They also come from different issuers: Xtrackers and VanEck. Their fees differ too: 0.20% for XNAQ.L and 0.38% for TDGB.L.