BACKGROUND The NARCOguide algorithm calculates an EEG-derived index to monitor the hypnotic component of anaesthesia. OBJECTIVE This study evaluates the accuracy of the index calculated by NARCOguide against the Narcotrend index as a reference. Secondly, the automatic detection of burst-suppression patterns as represented by the burst suppression ratio was compared. DESIGN Comparative study to assess the agreement between two medical devices. SETTING At two study centres, patient data were collected from a total of 40 adults receiving general anaesthesia or sedation with propofol. INTERVENTIONS Patients underwent either general anaesthesia for oral surgery with propofol/remifentanil/rocuronium (study centre 1) or light general anaesthesia/deep sedation with propofol alone for laryngoscopic upper airway exploration (study centre 2). MAIN OUTCOME MEASURES In a posthoc analysis, the NARCOguide index was compared with the Narcotrend index. Comparison was made after averaging over 1 min at defined clinical markers using classic linear least squares regression and Bland–Altman plots. Precision and recall for the detection of burst suppression were determined using human scoring as a reference. RESULTS Data analysis showed good agreement [Bland–Altman mean difference (MD) = −2.3; limits of agreement = −27.1, to +22.4; n = 1209] and high correlation (r 2 = 0.76) between the depth of anaesthesia index calculated by NARCOguide and Narcotrend. The precision and recall of NARCOguide and Narcotrend for the detection of burst suppression were in a similar range. Over the entire dataset, the NARCOguide algorithm showed higher precision and recall than the Narcotrend algorithm (56% vs. 36% and 68% vs. 58%, respectively). CONCLUSION The NARCOguide index can be used to monitor the hypnotic component of anaesthesia in patients undergoing general anaesthesia or sedation with propofol, with a performance similar to that of the Narcotrend index. TRIAL REGISTRATION Trial registration number: 18020, regulatory authority: Ethikkommission der bayerischen Landesärztekammer, chairman: Dr med. Gerald Quitterer, applicant: Dr Gert Küchler, date of approval: 12. Jun 2018, completion of data collection: 12 December 2018, study completion: 31 March 2022.