XUSE.AS vs. QTOP
XUSE.AS (iShares MSCI World ex-USA UCITS ETF) and QTOP (iShares Nasdaq Top 30 Stocks ETF) are both exchange-traded funds - XUSE.AS is a Global Equities fund tracking the MSCI World ex USA Index, while QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index. Both are passively managed. Over the past year, XUSE.AS returned 22.53% vs 44.62% for QTOP. At a 0.41 correlation, their price movements are largely independent. XUSE.AS charges 0.25%/yr vs 0.20%/yr for QTOP.
Performance
XUSE.AS vs. QTOP - Performance Comparison
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Returns By Period
In the year-to-date period, XUSE.AS achieves a 8.38% return, which is significantly lower than QTOP's 21.83% return.
XUSE.AS
- 1D
- 0.27%
- 1M
- 2.67%
- YTD
- 8.38%
- 6M
- 11.28%
- 1Y
- 22.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QTOP
- 1D
- -0.72%
- 1M
- 8.47%
- YTD
- 21.83%
- 6M
- 20.96%
- 1Y
- 44.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XUSE.AS vs. QTOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 8.38% | 25.69% |
QTOP iShares Nasdaq Top 30 Stocks ETF | 21.83% | 20.99% |
Correlation
The correlation between XUSE.AS and QTOP is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | 0.41 |
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Return for Risk
XUSE.AS vs. QTOP — Risk / Return Rank
XUSE.AS
QTOP
XUSE.AS vs. QTOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World ex-USA UCITS ETF (XUSE.AS) and iShares Nasdaq Top 30 Stocks ETF (QTOP). 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.
| XUSE.AS | QTOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.44 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 3.48 | -1.37 |
| Martin ratioReturn relative to average drawdown | 7.72 | 12.81 | -5.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XUSE.AS | QTOP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 2.57 | -1.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.56 | 1.45 | +0.11 |
Drawdowns
XUSE.AS vs. QTOP - Drawdown Comparison
The maximum XUSE.AS drawdown since its inception was -12.97%, smaller than the maximum QTOP drawdown of -23.28%. Use the drawdown chart below to compare losses from any high point for XUSE.AS and QTOP.
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Drawdown Indicators
| XUSE.AS | QTOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.97% | -23.28% | +10.31% |
Max Drawdown (1Y)Largest decline over 1 year | -10.54% | -12.88% | +2.34% |
Current DrawdownCurrent decline from peak | -1.23% | -0.93% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -1.72% | -3.81% | +2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 3.49% | -0.59% |
Volatility
XUSE.AS vs. QTOP - Volatility Comparison
The current volatility for iShares MSCI World ex-USA UCITS ETF (XUSE.AS) is 4.32%, while iShares Nasdaq Top 30 Stocks ETF (QTOP) has a volatility of 5.28%. This indicates that XUSE.AS experiences smaller price fluctuations and is considered to be less risky than QTOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUSE.AS | QTOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 5.28% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 12.35% | 13.45% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.62% | 17.41% | -2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.45% | 22.68% | -6.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.45% | 22.68% | -6.23% |
XUSE.AS vs. QTOP - Expense Ratio Comparison
XUSE.AS has a 0.25% expense ratio, which is higher than QTOP's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XUSE.AS vs. QTOP - Dividend Comparison
XUSE.AS has not paid dividends to shareholders, while QTOP's dividend yield for the trailing twelve months is around 0.32%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QTOP iShares Nasdaq Top 30 Stocks ETF | 0.32% | 0.38% | 0.11% |
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XUSE.AS and QTOP have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QTOP is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QTOP is cheaper with a 0.20% expense ratio, compared with 0.25% for XUSE.AS.
XUSE.AS is categorized as Global Equities, while QTOP is Nasdaq-100. XUSE.AS tracks MSCI World ex USA Index, while QTOP tracks Nasdaq-100 Top 30 Index. Their fees differ too: 0.25% for XUSE.AS and 0.20% for QTOP.
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