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Amundi Core Nasdaq-100 Swap UCITS ETF DistIndex, costs, backtest, listings and taxation

ISIN: LU2197908721Ticker: NADQ (Xetra) · NADQ (SIX)Issuer: AmundiClass: UCITS ETF Dist
Issuer-declared data
Declared index
NASDAQ-100 Notional Net Total Return Index
TER
0.22%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
1.1 bn EUR
NAV
307.27 USD (1 September 2026)
Domicile
Luxembourg
Inception date
10 September 2020
Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Amundi Core Nasdaq-100 Swap UCITS ETF Dist tracks the issuer-declared index: NASDAQ-100 Notional Net Total Return Index. The declared annual cost (TER) is 0.22%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is synthetic replication (swap based); income is distributed to investors. The fund has assets of about 1.1 billion euro, was launched on 10 September 2020 and is domiciled in Luxembourg. In our registry 5 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

The Fund is an index-tracking UCITS passively managed. The investment objective of the Fund is to track both the upward and the downward evolution of the NASDAQ-100 Notional Net Total Return index (the Benchmark Index") denominated in US Dollars and representative of 100 of the largest US and international non-financial companies, while minimizing the volatility of the difference between the return of the Fund and the return of the Benchmark Index (the "Tracking Error"). The anticipated level of Tracking Error in normal market conditions is indicated in the prospectus. Additional information about the Benchmark Index can be found at https://indexes.nasdaqomx.com. The Benchmark Index is a net total return index. A net total return index calculates the performance of the index constituents on the basis that any dividends or distributions are included in the index returns after withholding tax retention.

Keep reading the KID section ▾

The Fund seeks to achieve its objective via indirect replication by entering into an over-the-counter swap contract (financial derivative instrument, the "FDI"). The Fund may also invest in a diversified portfolio of international equities, whose performance will be exchanged against the performance of the benchmark Index via the FDI. Updated composition of the Fund holdings is available on www.amundietf.com. In addition, the indicative net asset value is published on the Reuters and Bloomberg pages of the Fund, and might also be mentioned on the websites of the stock exchanges where the Fund is listed.

Intended Retail Investor:This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds seeking to increase the value of their investment and to receive income over the recommended holding period with the ability to bear losses up to the amount invested.

Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the Sub-Fund on the primary market. Further details are provided in the MULTI UNITS LUXEMBOURG prospectus.

Distribution policy:The Fund’s amounts available for distribution (if any) will be distributed.

More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.

From the KID’s “Objectives” section · 8 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • Assets larger than 76% of equity ETFs we track.
  • Average tracking difference over the last 3 years: +-0.00% p.a., against a declared TER of 0.22%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Sept 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+172.9%
Annualised
+18.2%
Volatility (ann.)
22.6%
Max drawdown
-35.17%
-6%+43%+93%+142%+192%Sept 2020Mar 2022Sept 2023Mar 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+173%Sept 2020Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%2020202120222023202420252026−35.17% · 03 Nov 2022
Max drawdown
-35.17%
peak → trough
Trough
03 Nov 2022
from the 27 Dec 2021 peak
Recovery time
405 days
recovery only: trough to break-even · ≈ 1 year and 1 month
Underwater
716 days
decline + recovery: peak to break-even · ≈ 1 year and 12 months · → recovered on 13 Dec 2023

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
27 Dec 202103 Nov 2022-35.17%13 Dec 2023716
19 Feb 202508 Apr 2025-22.85%24 Jun 2025125
10 Jul 202407 Aug 2024-13.58%06 Nov 2024119
29 Oct 202530 Mar 2026-11.95%15 Apr 2026168
02 Jun 202629 Jul 2026-11.27%ongoing98

Calendar-year returns

2020
15.7%
2021
27.2%
2022
-32.6%
2023
54.8%
2024
25.6%
2025
20.7%
2026
17.2%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.2-2.3-4.815.610.6-0.1-6.64.20.217.2
20252.2-2.7-7.61.59.16.32.40.95.44.8-1.6-0.720.7
20241.95.41.2-4.56.46.2-1.61.22.5-0.85.30.425.6
202310.7-0.49.50.57.76.53.8-1.5-5.0-2.110.85.554.8
2022-8.5-4.64.3-13.3-1.6-9.012.6-5.1-10.64.05.6-9.0-32.6
20210.3-0.11.55.9-1.26.42.84.2-5.77.91.91.227.2
2020-3.211.15.115.7
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 3 of the last 4 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+-0.00% /anno
Declared TER
0.22%
YearFundIndexDifference
2025+20.70%+20.77%-0.07%
2024+25.59%+25.58%+0.01%
2023+54.76%+54.70%+0.06%
2022-32.56%-32.56%+0.01%
Fund return with dividends reinvested by Rebalix on each ex-date (the issuer does not publish a total-return series); index from the issuer-declared series; complete calendar years covered by our dividend archive. complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)19.34%21.14%23.86%23.34%
Max drawdown-11.57%-26.48%-31.76%-31.76%
Sharpe1.170.870.580.75
Sortino1.721.260.831.09
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
246
Top-10 weight
46.9%

Top 10 holdings

APPLE INC · AAPL UW
9.16%
AMAZON.COM INC · AMZN UW
6.17%
MICROSOFT CORP · MSFT UW
5.14%
NVIDIA CORP · NVDA UW
4.72%
BROADCOM INC · AVGO UW
4.46%
META PLATFORMS INC-CLASS A · META UW
4.25%
MICRON TECHNOLOGY INC · MU UW
3.99%
WELLS FARGO CO · WFC UN
3.27%
UNITED THERAPEUTICS CORP · UTHR UW
3.05%
O REILLY AUTOMOTIVE INC · ORLY UW
2.65%
⬇ Download the full portfolio — Excel, 247 rows
Full portfolio declared by Amundi, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding. Synthetic replication: the list shows the substitute basket (securities held as swap collateral), which can differ substantially from the replicated index. The fund’s economic exposure is that of its declared index.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Frequency
Annual
Latest dividend
1.06 USD
ex 9 Dec 2025 · paid ~12 Dec 2025
Dividends, last 12 months
1.06 USD
Dividend yield
0.34%
12-month sum over the NAV as of 8 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year1.06 USD0.42 %
20251.06 USD0.48 %
20241.17 USD0.66 %
20230.64 USD0.56 %
20220.84 USD0.49 %
20210.78 USD0.58 %

Dividend contribution to total return

-40%-30%-20%-10%0%10%20%30%40%50%60%+24.58 %1 year+20.71 %2025+25.60 %2024+54.75 %2023−32.52 %2022+27.17 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20251.06
20241.17
20230.64
20220.84
20210.78

Latest dividends

Per shareEx-dividend datePayment
1.06 USD9 Dec 202512 Dec 2025 · estimated
1.17 USD10 Dec 202413 Dec 2024 · estimated
0.64 USD12 Dec 202315 Dec 2023 · estimated
0.84 USD6 Jul 20228 Jul 2022 · estimated
0.78 USD7 Jul 20219 Jul 2021 · estimated
Per-share dividends as declared by the issuer, in USD, since the first payment (7 Jul 2021). Past dividends are not indicative of future ones. An «estimated» payment date is computed by Rebalix (ex-date + 2-3 business days, as this issuer has paid in the past) because the issuer does not publish it: it may differ by a day.

ETFs declaring the same index

FundTERIncomeFund size
UST · Amundi
0.22%Acc.5.8 mld EUR
ANX · Amundi · 2 classes
0.23%Acc.1.6 mld EUR
ANSD · Amundinot on Borsa Italiana
0.13%Acc.4 mln EUR
PUST · Amundinot on Borsa Italiana
0.30%Acc.1.1 mld EUR
PNAS · Amundinot on Borsa Italiana
0.30%Acc.19 mln EUR
6 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

LU2197908721NADQ
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfNADQ11 Sept 2020
Börse FrankfurtNADQ11 Sept 2020
Börse HamburgNADQ15 Sept 2020
Börse HannoverNADQ9 Dec 2024
Börse München / gettexNADQ11 Sept 2020
Börse StuttgartNADQ9 Feb 2021
Tradegate ExchangeNADQ11 Sept 2020
Xetra (Deutsche Börse)NADQ11 Sept 2020
+ 21 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Amundi Core Nasdaq-100 Swap UCITS ETF Dist track?
The issuer Amundi declares the benchmark: NASDAQ-100 Notional Net Total Return Index.
How much does NADQ cost?
The issuer-declared TER is 0.22% per year; the transaction costs estimated in the KID are 0.00%.
How is NADQ taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of NADQ?
The fund size declared by Amundi is about 1.1 billion euro.
When was NADQ launched?
The fund was launched on 10 September 2020: it has 5 years of history.
How does NADQ replicate its index?
It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Indirect(Swap Based)”).
Does NADQ pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does NADQ trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (NADQ), Börse Frankfurt (NADQ), Börse Hamburg (NADQ), Börse Hannover (NADQ), Börse München / gettex (NADQ), Börse Stuttgart (NADQ).
What was NADQ's worst fall?
Over the available history (since 2020), the maximum drawdown was -35.60%, reached in November 2022. Past performance is not indicative of future results.
What is NADQ's tracking difference?
Over the last 3 complete calendar years the fund returned on average +-0.00% per year versus its index (from issuer-declared series).
How many securities does NADQ hold?
The declared portfolio holds 246 securities; the top 10 positions weigh 46.9%.
Transparency note
The data in this sheet is declared by Amundi in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.