XWD.TO vs. CNDX.L
XWD.TO (iShares MSCI World Index ETF) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - XWD.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD, while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XWD.TO returned 13.55%/yr vs 22.69%/yr for CNDX.L. At a 0.46 correlation, their price movements are largely independent. XWD.TO charges 0.48%/yr vs 0.33%/yr for CNDX.L.
Performance
XWD.TO vs. CNDX.L - Performance Comparison
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Different Trading Currencies
XWD.TO is traded in CAD, while CNDX.L is traded in USD. To make them comparable, the CNDX.L values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XWD.TO achieves a 11.99% return, which is significantly lower than CNDX.L's 21.98% return. Over the past 10 years, XWD.TO has underperformed CNDX.L with an annualized return of 13.55%, while CNDX.L has yielded a comparatively higher 22.69% annualized return.
XWD.TO
- 1D
- 0.51%
- 1M
- 6.27%
- YTD
- 11.99%
- 6M
- 10.63%
- 1Y
- 28.11%
- 3Y*
- 21.72%
- 5Y*
- 14.88%
- 10Y*
- 13.55%
CNDX.L
- 1D
- 0.00%
- 1M
- 11.47%
- YTD
- 21.98%
- 6M
- 19.36%
- 1Y
- 43.47%
- 3Y*
- 29.69%
- 5Y*
- 21.13%
- 10Y*
- 22.69%
XWD.TO vs. CNDX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XWD.TO iShares MSCI World Index ETF | 11.99% | 15.25% | 28.07% | 20.32% | -11.57% | 21.87% | 11.41% | 21.44% | -1.52% | 14.42% |
CNDX.L iShares NASDAQ 100 UCITS ETF | 21.98% | 14.26% | 37.31% | 52.87% | -28.71% | 26.80% | 45.82% | 31.28% | 7.37% | 23.93% |
Correlation
The correlation between XWD.TO and CNDX.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010 | 0.46 |
The correlation between XWD.TO and CNDX.L has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.
XWD.TO vs. CNDX.L - Sectors Allocation Comparison
Sectors
XWD.TO
CNDX.L
Technology
Financial Services
Industrials
Consumer Cyclical
Communication Services
Healthcare
Consumer Defensive
Energy
Basic Materials
Utilities
Real Estate
Technology
XWD.TO
CNDX.L
Financial Services
XWD.TO
CNDX.L
Industrials
XWD.TO
CNDX.L
Consumer Cyclical
XWD.TO
CNDX.L
Communication Services
XWD.TO
CNDX.L
Healthcare
XWD.TO
CNDX.L
Consumer Defensive
XWD.TO
CNDX.L
Energy
XWD.TO
CNDX.L
Basic Materials
XWD.TO
CNDX.L
Utilities
XWD.TO
CNDX.L
Real Estate
XWD.TO
CNDX.L
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Return for Risk
XWD.TO vs. CNDX.L — Risk / Return Rank
XWD.TO
CNDX.L
XWD.TO vs. CNDX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Index ETF (XWD.TO) and iShares NASDAQ 100 UCITS ETF (CNDX.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.
| XWD.TO | CNDX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.47 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 3.79 | -0.13 |
| Martin ratioReturn relative to average drawdown | 14.98 | 11.35 | +3.63 |
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
| XWD.TO | CNDX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.42 | 2.68 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.09 | 1.05 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 1.17 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 1.31 | -0.40 |
Drawdowns
XWD.TO vs. CNDX.L - Drawdown Comparison
The maximum XWD.TO drawdown since its inception was -27.48%, smaller than the maximum CNDX.L drawdown of -31.39%. Use the drawdown chart below to compare losses from any high point for XWD.TO and CNDX.L.
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Drawdown Indicators
| XWD.TO | CNDX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.48% | -31.39% | +3.91% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -11.30% | +3.59% |
Max Drawdown (3Y)Largest decline over 3 years | -16.77% | -23.63% | +6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -31.39% | +9.99% |
Max Drawdown (10Y)Largest decline over 10 years | -27.48% | -31.39% | +3.91% |
Current DrawdownCurrent decline from peak | -0.29% | 0.00% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -5.14% | +1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 3.80% | -1.92% |
Volatility
XWD.TO vs. CNDX.L - Volatility Comparison
The current volatility for iShares MSCI World Index ETF (XWD.TO) is 3.55%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 4.87%. This indicates that XWD.TO experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XWD.TO | CNDX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 4.87% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 9.04% | 11.77% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.68% | 15.98% | -4.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.71% | 20.06% | -6.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.36% | 19.37% | -4.01% |
XWD.TO vs. CNDX.L - Expense Ratio Comparison
XWD.TO has a 0.48% expense ratio, which is higher than CNDX.L's 0.33% expense ratio.
Dividends
XWD.TO vs. CNDX.L - Dividend Comparison
XWD.TO's dividend yield for the trailing twelve months is around 1.19%, while CNDX.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNDX.L iShares NASDAQ 100 UCITS ETF | 0.00% | 0.00% | 0.02% | 0.05% | 0.06% | 0.03% | 0.04% | 0.07% | 0.06% | 0.30% | 0.16% | 0.16% |
XWD.TO iShares MSCI World Index ETF | 1.19% | 1.33% | 1.19% | 1.39% | 1.36% | 1.21% | 1.06% | 1.77% | 1.94% | 1.63% | 1.83% | 1.84% |
Frequently Asked Questions
XWD.TO and CNDX.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNDX.L is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNDX.L is cheaper with a 0.33% expense ratio, compared with 0.48% for XWD.TO.
XWD.TO is categorized as Global Equities, while CNDX.L is Nasdaq-100. XWD.TO tracks Morningstar Gbl GR CAD, while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.48% for XWD.TO and 0.33% for CNDX.L.
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