Nasdaq 100 vs Euronext 100
A hundred American names against a hundred European ones — and a comparison that is not only about companies: the two indices do not quote in the same currency, so the dollar’s move against the euro is part of the result on screen.
Over the period both series share, Nasdaq 100 comes out ahead at +7.3% a year.
| Asset | Total return | Annualised | Volatility | Largest drawdown |
|---|---|---|---|---|
| Nasdaq 100 | +561.4% | +7.3% a year | 26.7% | −83.1% (December 2008) |
| Euronext 100 Index | +84.4% | +2.3% a year | 17.0% | −60.5% (March 2009) |
Figures calculated on 26/10/2026 from monthly closing prices. Past performance is no guide to future performance.
Two baskets of a hundred with almost nothing in common
The Nasdaq 100 holds the hundred largest non-financial companies listed on the Nasdaq. Technology dominates it to the point that it is read, rightly or not, as a gauge of the sector.
The Euronext 100 gathers the hundred largest and most heavily traded names across the exchanges grouped under Euronext — Paris, Amsterdam, Brussels, Lisbon, Dublin, Oslo and Milan. It is multinational, and its composition mirrors the European economy: luxury goods, energy, banking, insurance, industry, healthcare, with a few isolated technology champions. Its reference base is set at a thousand points on 31 December 1999.
The exchange rate is part of the answer
Both curves are shown in euros, since the two indices share no currency. That is a European saver’s point of view, and it is the right one: an American holding owned from Europe returns what the shares return, corrected for what the dollar did in the meantime.
The consequence has to be accepted: part of the visible gap is not a difference in corporate performance but a currency move, and the chart cannot separate the two. Over long periods that move runs into tens of per cent either way.
A second thing the two share: both are price indices, dividends excluded on both sides. The omission does not weigh equally, European companies traditionally paying out a larger share of their earnings than American ones. Comparing the total-return versions would narrow the gap.
Frequently asked questions
Why is the comparison shown in euros?
The tool uses dollars when every asset compared quotes in dollars, and euros in all other cases. One of these two indices is European, so euros it is.
Is the Euronext 100 the equivalent of the CAC 40?
No. The CAC 40 holds only Paris-listed companies; the Euronext 100 covers seven exchanges and two and a half times as many names. The largest French companies are obviously in both.
Are dividends included?
No, both are price indices. The omission is symmetrical but not equal in size: it takes more away from the European basket.