XNAS.L vs. ^NDX

Last updated Jun 26, 2026

XNAS.L (Xtrackers NASDAQ 100 UCITS ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index, while ^NDX (NASDAQ 100 Index) is an index. Over the past 5 years, XNAS.L returned 23.79%/yr vs 15.46%/yr for ^NDX. A 0.60 correlation means they provide meaningful diversification when combined.

Performance

XNAS.L vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XNAS.L achieves a 15.56% return, which is significantly lower than ^NDX's 16.60% return.

XNAS.L

• 1D: -0.50%
• 1M: -1.93%
• YTD: 15.56%
• 6M: 14.86%
• 1Y: 32.35%
• 3Y*: 26.07%
• 5Y*: 23.79%
• 10Y*: —

^NDX

• 1D: 0.75%
• 1M: -1.87%
• YTD: 16.60%
• 6M: 14.75%
• 1Y: 32.39%
• 3Y*: 26.08%
• 5Y*: 15.46%
• 10Y*: 21.50%

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

XNAS.L vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XNAS.L Xtrackers NASDAQ 100 UCITS ETF	15.56%	19.82%	26.59%	88.40%	-25.44%	-8.88%
^NDX NASDAQ 100 Index	16.60%	20.17%	24.88%	53.81%	-32.97%	22.74%

Correlation

The correlation between XNAS.L and ^NDX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.60

The correlation between XNAS.L and ^NDX shifts across timeframes, from 0.60 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XNAS.L vs. ^NDX — Risk / Return Rank

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

XNAS.L

XNAS.L Risk / Return Rank: 67
XNAS.L Sharpe Ratio Rank: 69
XNAS.L Sortino Ratio Rank: 69
XNAS.L Omega Ratio Rank: 66
XNAS.L Calmar Ratio Rank: 68
XNAS.L Martin Ratio Rank: 65

^NDX

^NDX Risk / Return Rank: 77
^NDX Sharpe Ratio Rank: 78
^NDX Sortino Ratio Rank: 77
^NDX Omega Ratio Rank: 79
^NDX Calmar Ratio Rank: 79
^NDX Martin Ratio Rank: 74

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.

XNAS.L vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and NASDAQ 100 Index (^NDX). 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.

	XNAS.L	^NDX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.81	+0.12
Sortino ratio: Return per unit of downside risk	2.72	2.40	+0.32
Omega ratio: Gain probability vs. loss probability	1.34	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	2.95	2.68	+0.27
Martin ratio: Return relative to average drawdown	10.21	9.84	+0.36

XNAS.L vs. ^NDX - Sharpe Ratio Comparison

The current XNAS.L Sharpe Ratio is 1.93, which is comparable to the ^NDX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of XNAS.L and ^NDX, 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

XNAS.L vs. ^NDX - Drawdown Comparison

The maximum XNAS.L drawdown since its inception was -34.26%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for XNAS.L and ^NDX.

Drawdown Indicators

	XNAS.L	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-82.90%	+48.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-12.12%	+1.21%
Max Drawdown (3Y) Largest decline over 3 years	-22.92%	-22.93%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-27.52%	-35.56%	+8.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.56%	—
Current Drawdown Current decline from peak	-4.17%	-3.98%	-0.19%
Average Drawdown Average peak-to-trough decline	-10.29%	-24.59%	+14.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	3.30%	-0.14%

Volatility

XNAS.L vs. ^NDX - Volatility Comparison

The current volatility for Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) is 6.53%, while NASDAQ 100 Index (^NDX) has a volatility of 8.92%. This indicates that XNAS.L experiences smaller price fluctuations and is considered to be less risky than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNAS.L	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.53%	8.92%	-2.39%
Volatility (6M) Calculated over the trailing 6-month period	13.07%	14.53%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	17.97%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.81%	22.90%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.22%	22.64%	+2.58%

Frequently Asked Questions

Can I hold both XNAS.L and ^NDX in my portfolio?

XNAS.L and ^NDX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.