XNAS.L vs. EQSG.L

Last updated Jun 5, 2026

XNAS.L (Xtrackers NASDAQ 100 UCITS ETF) and EQSG.L (Invesco Nasdaq-100 Swap UCITS ETF Acc) are both Nasdaq-100 funds - XNAS.L tracks the NASDAQ-100 Index while EQSG.L tracks the Russell 1000 Growth TR USD. Both are passively managed. Over the past 3 years, XNAS.L returned 28.10%/yr vs 28.14%/yr for EQSG.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

XNAS.L vs. EQSG.L - Performance Comparison

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

Different Trading Currencies

XNAS.L is traded in USD, while EQSG.L is traded in GBp. To make them comparable, the EQSG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with XNAS.L having a 19.67% return and EQSG.L slightly lower at 19.62%.

XNAS.L

• 1D: -0.68%
• 1M: 8.53%
• YTD: 19.67%
• 6M: 19.16%
• 1Y: 40.41%
• 3Y*: 28.10%
• 5Y*: —
• 10Y*: —

EQSG.L

• 1D: -0.70%
• 1M: 8.67%
• YTD: 19.62%
• 6M: 19.33%
• 1Y: 40.52%
• 3Y*: 28.14%
• 5Y*: 17.83%
• 10Y*: —

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

XNAS.L vs. EQSG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XNAS.L Xtrackers NASDAQ 100 UCITS ETF	19.67%	19.83%	26.60%	56.41%	-1.82%
EQSG.L Invesco Nasdaq-100 Swap UCITS ETF Acc	19.62%	20.16%	26.61%	55.95%	-2.17%

Correlation

The correlation between XNAS.L and EQSG.L is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 24, 2022	0.94

The correlation between XNAS.L and EQSG.L has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

XNAS.L vs. EQSG.L - Sectors Allocation Comparison

Sectors	XNAS.L	EQSG.L
Technology	53.7%	53.7%
Communication Services	15.8%	15.8%
Consumer Cyclical	12.2%	12.2%
Consumer Defensive	7.7%	7.7%
Healthcare	4.2%	4.2%
Industrials	3.1%	3.1%
Utilities	1.4%	1.4%
Basic Materials	1.1%	1.1%
Energy	0.6%	0.6%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

XNAS.L vs. EQSG.L — 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: 76
XNAS.L Sharpe Ratio Rank: 80
XNAS.L Sortino Ratio Rank: 79
XNAS.L Omega Ratio Rank: 75
XNAS.L Calmar Ratio Rank: 74
XNAS.L Martin Ratio Rank: 71

EQSG.L

EQSG.L Risk / Return Rank: 37
EQSG.L Sharpe Ratio Rank: 27
EQSG.L Sortino Ratio Rank: 33
EQSG.L Omega Ratio Rank: 79
EQSG.L Calmar Ratio Rank: 28
EQSG.L Martin Ratio Rank: 20

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. EQSG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and Invesco Nasdaq-100 Swap UCITS ETF Acc (EQSG.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.

	XNAS.L	EQSG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.54	0.90	+1.63
Sortino ratio: Return per unit of downside risk	3.51	1.70	+1.82
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.67	1.29	+2.38
Martin ratio: Return relative to average drawdown	13.19	2.19	+10.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XNAS.L vs. EQSG.L - Sharpe Ratio Comparison

The current XNAS.L Sharpe Ratio is 2.54, which is higher than the EQSG.L Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of XNAS.L and EQSG.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.

Sharpe Ratios by Period

	XNAS.L	EQSG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	0.90	+1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.69	0.53	+1.16

Drawdowns

XNAS.L vs. EQSG.L - Drawdown Comparison

The maximum XNAS.L drawdown since its inception was -22.92%, smaller than the maximum EQSG.L drawdown of -35.09%. Use the drawdown chart below to compare losses from any high point for XNAS.L and EQSG.L.

Drawdown Indicators

	XNAS.L	EQSG.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.92%	-35.09%	+12.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-31.29%	+20.38%
Max Drawdown (3Y) Largest decline over 3 years	-22.92%	-34.79%	+11.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.09%	—
Current Drawdown Current decline from peak	-0.76%	-9.80%	+9.04%
Average Drawdown Average peak-to-trough decline	-3.03%	-15.50%	+12.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	18.45%	-15.40%

Volatility

XNAS.L vs. EQSG.L - Volatility Comparison

Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) has a higher volatility of 4.96% compared to Invesco Nasdaq-100 Swap UCITS ETF Acc (EQSG.L) at 4.38%. This indicates that XNAS.L's price experiences larger fluctuations and is considered to be riskier than EQSG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNAS.L	EQSG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	4.38%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	11.72%	11.17%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	44.59%	-28.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.39%	36.02%	-16.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.39%	35.55%	-16.16%

XNAS.L vs. EQSG.L - Expense Ratio Comparison

Both XNAS.L and EQSG.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XNAS.L vs. EQSG.L - Dividend Comparison

Neither XNAS.L nor EQSG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.93, XNAS.L and EQSG.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.

Which ETF is better, XNAS.L or EQSG.L?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XNAS.L or EQSG.L?

XNAS.L and EQSG.L have the same expense ratio: 0.20% per year.

What is the main difference between XNAS.L and EQSG.L?

XNAS.L tracks NASDAQ-100 Index, while EQSG.L tracks Russell 1000 Growth TR USD. They also come from different issuers: Xtrackers and Invesco.