XNAS.L vs. SP20.AS

Last updated Apr 1, 2026

Compare and contrast key facts about Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and iShares S&P 500 Top 20 UCITS ETF USD Acc (SP20.AS).

XNAS.L and SP20.AS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XNAS.L is a passively managed fund by Xtrackers that tracks the performance of the NASDAQ-100 Index. It was launched on Jan 21, 2021. SP20.AS is a passively managed fund by iShares that tracks the performance of the S&P 500 Top 20 Select 35/20 Capped Index. It was launched on Nov 12, 2024. Both XNAS.L and SP20.AS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XNAS.L vs. SP20.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and iShares S&P 500 Top 20 UCITS ETF USD Acc (SP20.AS). The values are adjusted to include any dividend payments, if applicable.

XNAS.L vs. SP20.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XNAS.L Xtrackers NASDAQ 100 UCITS ETF	-8.15%	19.83%	4.11%
SP20.AS iShares S&P 500 Top 20 UCITS ETF USD Acc	-12.21%	35.62%	3.50%

Different Trading Currencies

XNAS.L is traded in USD, while SP20.AS is traded in EUR. To make them comparable, the SP20.AS values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XNAS.L achieves a -8.15% return, which is significantly higher than SP20.AS's -12.21% return.

XNAS.L

• 1D: 0.50%
• 1M: -6.35%
• YTD: -8.15%
• 6M: -4.86%
• 1Y: 23.10%
• 3Y*: 21.86%
• 5Y*: —
• 10Y*: —

SP20.AS

• 1D: 2.27%
• 1M: -8.21%
• YTD: -12.21%
• 6M: -8.20%
• 1Y: 30.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XNAS.L vs. SP20.AS - Expense Ratio Comparison

Both XNAS.L and SP20.AS 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%.

XNAS.L

Xtrackers NASDAQ 100 UCITS ETF

SP20.AS

iShares S&P 500 Top 20 UCITS ETF USD Acc

Return for Risk

XNAS.L vs. SP20.AS — 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: 69
XNAS.L Sharpe Ratio Rank: 68
XNAS.L Sortino Ratio Rank: 71
XNAS.L Omega Ratio Rank: 66
XNAS.L Calmar Ratio Rank: 73
XNAS.L Martin Ratio Rank: 68

SP20.AS

SP20.AS Risk / Return Rank: 68
SP20.AS Sharpe Ratio Rank: 67
SP20.AS Sortino Ratio Rank: 69
SP20.AS Omega Ratio Rank: 63
SP20.AS Calmar Ratio Rank: 72
SP20.AS Martin Ratio Rank: 71

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. SP20.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and iShares S&P 500 Top 20 UCITS ETF USD Acc (SP20.AS). 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	SP20.AS	Difference
Sharpe ratio Return per unit of total volatility	1.17	1.44	-0.27
Sortino ratio Return per unit of downside risk	1.73	2.17	-0.44
Omega ratio Gain probability vs. loss probability	1.23	1.27	-0.04
Calmar ratio Return relative to maximum drawdown	1.82	1.89	-0.06
Martin ratio Return relative to average drawdown	6.61	7.81	-1.19
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. SP20.AS - Sharpe Ratio Comparison

The current XNAS.L Sharpe Ratio is 1.17, which is comparable to the SP20.AS Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of XNAS.L and SP20.AS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XNAS.L	SP20.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	1.44	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.77	+0.50

Correlation

The correlation between XNAS.L and SP20.AS is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XNAS.L vs. SP20.AS - Dividend Comparison

Neither XNAS.L nor SP20.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

XNAS.L vs. SP20.AS - Drawdown Comparison

The maximum XNAS.L drawdown since its inception was -22.92%, which is greater than SP20.AS's maximum drawdown of -20.04%. Use the drawdown chart below to compare losses from any high point for XNAS.L and SP20.AS.

Drawdown Indicators

	XNAS.L	SP20.AS	Difference
Max Drawdown Largest peak-to-trough decline	-22.92%	-23.48%	+0.56%
Max Drawdown (1Y) Largest decline over 1 year	-12.62%	-13.36%	+0.74%
Current Drawdown Current decline from peak	-10.47%	-12.25%	+1.78%
Average Drawdown Average peak-to-trough decline	-3.11%	-4.06%	+0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.37%	-0.36%

Volatility

XNAS.L vs. SP20.AS - Volatility Comparison

The current volatility for Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) is 4.93%, while iShares S&P 500 Top 20 UCITS ETF USD Acc (SP20.AS) has a volatility of 5.82%. This indicates that XNAS.L experiences smaller price fluctuations and is considered to be less risky than SP20.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNAS.L	SP20.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	5.82%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	12.05%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	21.23%	-1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.35%	21.26%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.35%	21.26%	-1.91%