XNDX.DE vs. HEQQ
XNDX.DE (Xtrackers Nasdaq 100 Swap UCITS ETF 1D USD) and HEQQ (JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF) are both Nasdaq-100 funds. Over the past year, XNDX.DE returned 11.18% vs 12.96% for HEQQ. A 0.58 correlation means they provide meaningful diversification when combined. XNDX.DE charges 0.18%/yr vs 0.50%/yr for HEQQ.
Performance
XNDX.DE vs. HEQQ - Performance Comparison
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Different Trading Currencies
XNDX.DE is traded in EUR, while HEQQ is traded in USD. To make them comparable, the HEQQ values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, XNDX.DE achieves a 18.01% return, which is significantly higher than HEQQ's 5.67% return.
XNDX.DE
- 1D
- 0.00%
- 1M
- -1.63%
- 6M
- 16.17%
- YTD
- 18.01%
- 1Y
- 11.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQQ
- 1D
- -0.41%
- 1M
- -0.76%
- 6M
- 3.18%
- YTD
- 5.67%
- 1Y
- 12.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XNDX.DE vs. HEQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XNDX.DE Xtrackers Nasdaq 100 Swap UCITS ETF 1D USD | 18.01% | -4.86% |
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF | 5.67% | 8.25% |
Correlation
The correlation between XNDX.DE and HEQQ is 0.58, 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 | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025 | 0.58 |
The correlation between XNDX.DE and HEQQ has been stable across timeframes, ranging from 0.58 to 0.58 - a consistent structural relationship.
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Return for Risk
XNDX.DE vs. HEQQ — Risk / Return Rank
XNDX.DE
HEQQ
XNDX.DE vs. HEQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nasdaq 100 Swap UCITS ETF 1D USD (XNDX.DE) and JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ). 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.
| XNDX.DE | HEQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.24 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 2.47 | -1.91 |
| Martin ratioReturn relative to average drawdown | 0.96 | 7.57 | -6.62 |
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Drawdowns
XNDX.DE vs. HEQQ - Drawdown Comparison
The maximum XNDX.DE drawdown since its inception was -20.10%, which is greater than HEQQ's maximum drawdown of -10.84%. Use the drawdown chart below to compare losses from any high point for XNDX.DE and HEQQ.
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Drawdown Indicators
| XNDX.DE | HEQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.10% | -10.84% | -9.26% |
Max Drawdown (1Y)Largest decline over 1 year | -20.10% | -5.28% | -14.82% |
Current DrawdownCurrent decline from peak | -3.50% | -2.11% | -1.39% |
Average DrawdownAverage peak-to-trough decline | -9.61% | -1.61% | -8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.68% | 1.72% | +9.96% |
Volatility
XNDX.DE vs. HEQQ - Volatility Comparison
Xtrackers Nasdaq 100 Swap UCITS ETF 1D USD (XNDX.DE) has a higher volatility of 5.56% compared to JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) at 2.50%. This indicates that XNDX.DE's price experiences larger fluctuations and is considered to be riskier than HEQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XNDX.DE | HEQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 2.50% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 12.39% | 6.69% | +5.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.87% | 9.65% | +21.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.69% | 13.28% | +17.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.69% | 13.28% | +17.41% |
XNDX.DE vs. HEQQ - Expense Ratio Comparison
XNDX.DE has a 0.18% expense ratio, which is lower than HEQQ's 0.50% expense ratio.
Dividends
XNDX.DE vs. HEQQ - Dividend Comparison
XNDX.DE's dividend yield for the trailing twelve months is around 0.10%, less than HEQQ's 0.22% yield.
| Position | TTM | 2025 |
|---|---|---|
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF | 0.22% | 0.19% |
XNDX.DE Xtrackers Nasdaq 100 Swap UCITS ETF 1D USD | 0.10% | 0.00% |
Frequently Asked Questions
XNDX.DE and HEQQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XNDX.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XNDX.DE is cheaper with a 0.18% expense ratio, compared with 0.50% for HEQQ.
They also come from different issuers: Xtrackers and JPMorgan. Their fees differ too: 0.18% for XNDX.DE and 0.50% for HEQQ.
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