US Tech / Nasdaq
Betting on US technology
IntermediateLong termTOB 0.12%
Exposure to the 100 largest tech companies on the Nasdaq. High historical returns but higher volatility than a global ETF.
⚠️ High sector concentration: this fund invests mainly in US tech. Volatility is significantly higher than a global ETF. Exceptional past returns (~13%/year) do not guarantee future performance.
Key facts
TOB0.12%on purchase and sale
Weighted average TER0.30%annual management fees
Securities (~)~100companies worldwide
Historical return~13.2% / yr2005–2025
Reynders taxNot applicable
DividendsAuto-reinvested
Exceptional performance driven by US tech giants. High volatility (-33% in 2022). Past performance is not indicative of future results
Portfolio composition
CNDX100%Acc.
iShares Nasdaq 100 UCITS ETF (Acc)
ISIN: IE00B53SZB19
TER 0.30%View on justETF↗
Average yearly return
Index · EUR · gross · past performance1 yr
+10.8%
3 yrs
+18.5%
5 yrs
+17.2%
10 yrs
+18.1%
Source: Nasdaq-100 Index (EUR, total return). Annualized returns to end-2025, EUR, gross of Belgian taxes (TOB, précompte mobilier, CGT) and ETF fees (TER). Past performance does not guarantee future results.
Why this strategy?
- 1The Nasdaq-100 in detail: CNDX replicates the 100 largest non-financial companies listed on the Nasdaq — dominated by Apple, Microsoft, Nvidia, Amazon, Meta, Alphabet. These top 10 values represent ~50% of the index.
- 20.12% TOB and accumulating fund: dividends automatically reinvested, reduced TOB on purchase and sale.
- 3Exceptional but volatile historical performance: ~13%/year between 2005 and 2025, but also -33% in 2022 alone. This strategy is for investors with a long horizon and high volatility tolerance.
- 4Sector concentration: about 65% of the fund is in the technology sector — very strong exposure to a single sector and a single country (United States).
Alternatives & comparisons
EQQQ
Invesco EQQQ Nasdaq-100 UCITS ETF
TER 0.30%TOB 0.12%Dist.
Advantages
- +Same Nasdaq-100 index
- +One of the oldest Nasdaq ETFs in Europe (launched in 2002)
- +Very high liquidity
Disadvantages
- −Distributing ETF — 30% withholding tax on paid dividends
- −0.30% TER — slightly higher than CNDX
- −Distributing = tax-inefficient in Belgium
Verdict : Same index, but distributing = 30% withholding tax on dividends. Prefer CNDX for Belgian tax efficiency.
XNAS
Xtrackers Nasdaq 100 UCITS ETF 1C
TER 0.20%TOB 0.12%Acc.
Advantages
- +0.20% TER — lower than EQQQ
- +Accumulating fund
- +0.12% TOB
Disadvantages
- −Lower liquidity than CNDX and EQQQ
- −More recent, shorter history
Verdict : Good accumulating alternative with intermediate TER if CNDX is not available at your broker.
CSPX
iShares Core S&P 500 UCITS ETF Acc
TER 0.07%TOB 0.12%Acc.
Advantages
- +Broader US exposure (500 companies vs 100)
- +Very low TER (0.07%)
- +Less volatile than the Nasdaq
Disadvantages
- −Less tech concentration — lower potential returns
- −Includes financial, energy sectors, etc.
Verdict : If you want US exposure but with less tech sector concentration — an S&P 500 diversifies more for the same total cost.
Tax disclaimer
0.12% TOB on purchase and sale. 10% capital gains tax on annual net gains exceeding the €10,000 exemption — only the excess above this threshold is taxed at 10%. The unused portion of the exemption can be carried forward (maximum €1,000 per year over 5 years), allowing to reach an exemption ceiling of €15,000 in a given year. Accumulating funds: no annual withholding tax on automatically reinvested dividends. Rates used are indicative — past performance does not guarantee future results.