Data Source: from January 2014 to December 2022 (~9 years)
Consolidated Returns as of 31 December 2022
Category: Stocks
ETF: Global X MSCI Nigeria ETF (NGE)

In the last 5 Years, the Global X MSCI Nigeria ETF (NGE) ETF obtained a -15.30% compound annual return, with a 26.93% standard deviation.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Multi Cap
  • Style: Blend
  • Region: Africa
  • Country: Nigeria

Historical Returns as of Dec 31, 2022

Historical returns and Metrics of Global X MSCI Nigeria ETF (NGE) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
GLOBAL X MSCI NIGERIA ETF (NGE) ETF
Portfolio Metrics
Data Source: 1 January 2014 - 31 December 2022 (~9 years)
Swipe left to see all data
Metrics as of Dec 31, 2022
1M 3M 6M 1Y 3Y 5Y MAX
(~9Y)
Portfolio
Return (%)
-5.14 -7.29 -17.36 -20.22 -14.10 -15.30 -18.11
US Inflation (%) -0.31 0.00 0.16 6.45 4.92 3.78 2.72
Infl. Adjusted
Return (%)
-4.85 -7.28 -17.49 -25.05 -18.12 -18.39 -20.28
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 15.55 29.76 26.93 26.73
Sharpe Ratio -1.39 -0.49 -0.61 -0.83
Sortino Ratio -2.16 -0.67 -0.87 -1.14
MAXIMUM DRAWDOWN
Drawdown Depth (%) -24.51 -40.80 -64.47 -83.92
Start (yyyy mm) 2022 05 2020 02 2018 02 2014 01
Bottom (yyyy mm) 2022 10 2020 03 2020 03 2020 03
Start to Bottom (# months) 6 2 26 75
Start to Recovery (# months) in progress
> 8
> 35
> 59
> 108
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 57.91 -1.81 -4.30
Worst Return (%) -48.40 -34.63 -23.60
% Positive Periods 23% 0% 0%
MONTHS
Positive 0 1 1 4 16 25 44
Negative 1 2 5 8 20 35 64
% Positive 0% 33% 17% 33% 44% 42% 41%
WITHDRAWAL RATES (WR)
Safe WR (%) 23.54 10.93 2.80
Perpetual WR (%) 0.00 0.00 0.00
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the ETF
  • Standard Deviation: it's a measure of the dispersion of returns around the mean
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the ETF. It's calculated by dividing the excess return of the ETF over the risk-free rate by the ETF standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the ETF. It's a modification of the Sharpe Ratio (same formula but the denominator is the ETF downside standard deviation).
  • Maximum Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.
  • Rolling Returns: returns over a time frame (best, worst, % of positive returns).
  • Pos./Neg. Months: number of months with positive/negative return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, without the portfolio running out of money (dollar amount withdrawal).
  • Perpetual Withdrawal Rate (PWR): it's the percentage of portfolio balance that can be withdrawn at the end of each year, while retaining the inflation adjusted portfolio balance (percentage withdrawal).

Correlations as of Dec 31, 2022

Monthly correlations of Global X MSCI Nigeria ETF (NGE) ETF vs the main Asset Classes, over different timeframes.

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1.

If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.

Asset correlations are calculated based on monthly returns.

Columns are sortable (click on table header to sort).

GLOBAL X MSCI NIGERIA ETF (NGE) ETF
Monthly correlations as of 31 December 2022
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Correlation vs NGE
 
Asset Class 1 Year 5 Years Since
Jan 2014
US Total Stock Market
VTI
0.13
0.37
0.24
US Large Cap
SPY
0.17
0.35
0.23
US Small Cap
IJR
-0.01
0.38
0.24
US REITs
VNQ
0.33
0.30
0.10
US Technology
QQQ
0.18
0.26
0.16
Preferred Stocks
PFF
0.36
0.41
0.28
EAFE Stocks
EFA
0.37
0.42
0.31
World All Countries
VT
0.26
0.42
0.30
Emerging Markets
EEM
0.53
0.48
0.35
Europe
VGK
0.35
0.41
0.31
Pacific
VPL
0.36
0.42
0.30
Latin America
FLLA
0.17
0.44
0.31
US Total Bond Market
BND
0.28
0.05
-0.04
Long Term Treasuries
TLT
0.30
-0.21
-0.26
US Cash
BIL
-0.21
-0.26
-0.10
TIPS
TIP
0.24
0.11
0.00
Invest. Grade Bonds
LQD
0.29
0.22
0.10
High Yield Bonds
HYG
0.22
0.39
0.26
International Bonds
BNDX
0.31
0.17
-0.01
Emerg. Market Bonds
EMB
0.41
0.42
0.26
Gold
GLD
0.29
0.13
-0.03
Commodities
DBC
0.50
0.39
0.39

Capital Growth as of Dec 31, 2022

An investment of 1000$, since January 2018, now would be worth 435.88$, with a total return of -56.41% (-15.30% annualized).

The Inflation Adjusted Capital now would be 362.05$, with a net total return of -63.80% (-18.39% annualized).
An investment of 1000$, since January 2014, now would be worth 165.55$, with a total return of -83.45% (-18.11% annualized).

The Inflation Adjusted Capital now would be 129.99$, with a net total return of -87.00% (-20.28% annualized).

Drawdowns

Worst drawdowns since January 2018.

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Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-64.47% Feb 2018 Mar 2020 26 in progress 33 59

Worst drawdowns since January 2014.

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Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-83.92% Jan 2014 Mar 2020 75 in progress 33 108

Rolling Returns ( more details)

Global X MSCI Nigeria ETF (NGE) ETF: annualized rolling and average returns

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Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
-13.78 57.91
Mar 2017 - Feb 2018
-48.40
Apr 2019 - Mar 2020
77.32%
2 Years
-14.30 15.11
Apr 2020 - Mar 2022
-44.13
Aug 2014 - Jul 2016
76.47%
3 Years
-14.93 -1.81
Feb 2017 - Jan 2020
-34.63
Jun 2014 - May 2017
100.00%
5 Years
-14.16 -4.30
Aug 2016 - Jul 2021
-23.60
May 2015 - Apr 2020
100.00%
7 Years
-15.63 -12.65
Feb 2015 - Jan 2022
-18.64
Oct 2014 - Sep 2021
100.00%
(*) Annualized rolling and average returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the Global X MSCI Nigeria ETF (NGE) ETF: Rolling Returns page.

Seasonality

Global X MSCI Nigeria ETF (NGE) ETF: in which months is it better to invest?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.

For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
8.21
100%
-6.51
20%
-5.59
40%
0.88
60%
-0.45
40%
-0.75
60%
-5.21
0%
-4.58
0%
-1.64
40%
3.10
60%
-0.59
40%
0.36
40%
 Capital Growth on monthly avg returns
100
108.21
101.17
95.51
96.36
95.93
95.21
90.25
86.12
84.70
87.33
86.82
87.13
Best 19.2
2018
3.1
2019
1.8
2022
5.8
2020
14.7
2020
3.9
2021
-0.1
2022
-0.5
2020
3.9
2020
20.0
2020
8.4
2019
7.8
2020
Worst 1.7
2019
-17.4
2020
-28.3
2020
-3.8
2019
-11.2
2018
-6.8
2020
-10.4
2019
-7.5
2018
-6.0
2021
-7.5
2022
-11.2
2021
-5.1
2022
Monthly Seasonality over the period Jan 2018 - Dec 2022
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.21
56%
-5.60
11%
-1.43
67%
2.75
78%
1.19
44%
-1.42
44%
-5.51
11%
-2.15
22%
-0.43
44%
-0.77
33%
-2.90
33%
-0.04
44%
 Capital Growth on monthly avg returns
100
100.21
94.59
93.24
95.81
96.95
95.57
90.30
88.36
87.98
87.30
84.77
84.74
Best 19.2
2018
3.1
2019
9.7
2015
8.4
2015
14.7
2020
16.9
2017
9.7
2017
4.1
2017
5.3
2016
20.0
2020
8.4
2019
7.8
2020
Worst -16.8
2015
-17.4
2020
-28.3
2020
-3.8
2019
-11.2
2018
-22.2
2016
-16.5
2016
-7.5
2018
-6.0
2021
-9.5
2014
-12.5
2014
-7.0
2014
Monthly Seasonality over the period Jan 2014 - Dec 2022

Monthly/Yearly Returns

Global X MSCI Nigeria ETF (NGE) ETF data source starts from January 2014: let's focus on monthly and yearly returns.

We are providing two different views:
  • Histogram: it shows the distribution of the returns recorded so far
  • Plain Table: it shows the detailed monthly and yearly returns
MONTHLY RETURNS HISTOGRAM
Jan 2014 - Dec 2022
44 Positive Months (41%) - 64 Negative Months (59%)
MONTHLY RETURNS TABLE
Jan 2014 - Dec 2022
(Scroll down to see all data)
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Yearly Return(%)
Monthly Return(%)
Year Total Infl.Adj Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022
-20.22 -25.05 5.4 -4.3 1.8 2.6 -2.4 -6.2 -0.1 -5.8 -5.2 -7.5 5.7 -5.1
2021
-12.30 -18.06 10.7 -6.4 0.9 0.5 1.1 3.9 -7.4 -4.5 -6.0 9.5 -11.2 -1.7
2020
-9.40 -10.62 4.0 -17.4 -28.3 5.8 14.7 -6.8 -2.5 -0.5 3.9 20.0 -0.3 7.8
2019
-13.55 -15.48 1.7 3.1 -1.6 -3.8 -4.4 2.1 -10.4 -4.6 3.5 -6.5 8.4 -0.4
2018
-20.47 -21.96 19.2 -7.5 -0.8 -0.8 -11.2 3.3 -5.6 -7.5 -4.3 0.1 -5.6 1.3
2017
+29.86 +27.18 -1.9 -7.7 3.0 1.1 -0.1 16.9 9.7 4.1 -1.5 -0.1 0.2 4.5
2016
-38.17 -39.42 -14.3 -1.3 2.2 4.4 8.8 -22.2 -16.5 0.4 5.3 -3.6 -6.1 1.3
2015
-30.21 -30.71 -16.8 -2.4 9.7 8.4 -1.5 -3.5 -14.7 -0.4 4.6 -9.3 -4.7 -1.0
2014
-32.23 -32.74 -6.2 -6.5 0.2 6.4 5.7 -0.3 -2.0 -0.6 -4.1 -9.5 -12.5 -7.0
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