Historically, the NASDAQ 100 has experienced larger drawdowns than the S&P 500 during market crashes, such as the dot-com bubble burst (78% vs 50%), the 2008 financial crisis (over 40% vs 30%+) and the 2020 crash (over 40% vs 30%+).
"in 2000 when the dotcom bubble burst, the Nasdaq 100 fell by 78% while the S&P 500 fell by around 50%. When the 2008 crash happened, the S&P 500 fell by 30ome percent, the Nasdaq 100 fell by more than 40ome percent. When the 2020 crash happened, the S&P 500 fell by around 30ome percent. The Nasdaq fell by more than 40%"