3USL.L vs. WCOG.L
3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) and WCOG.L (WisdomTree Enhanced Commodity UCITS ETF USD) are both exchange-traded funds - 3USL.L is a Leveraged Equities fund tracking the S&P 500 Net Total Returns Index, while WCOG.L is a Commodities fund tracking the Optimised Roll Commodity. Both are passively managed. Over the past 10 years, 3USL.L returned 28.49%/yr vs 8.06%/yr for WCOG.L. At a 0.20 correlation, their price movements are largely independent. 3USL.L charges 0.75%/yr vs 0.35%/yr for WCOG.L.
Performance
3USL.L vs. WCOG.L - Performance Comparison
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Different Trading Currencies
3USL.L is traded in USD, while WCOG.L is traded in GBp. To make them comparable, the WCOG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3USL.L achieves a 25.13% return, which is significantly lower than WCOG.L's 30.86% return. Over the past 10 years, 3USL.L has outperformed WCOG.L with an annualized return of 28.49%, while WCOG.L has yielded a comparatively lower 8.06% annualized return.
3USL.L
- 1D
- -0.02%
- 1M
- 12.76%
- YTD
- 25.13%
- 6M
- 26.49%
- 1Y
- 77.77%
- 3Y*
- 50.50%
- 5Y*
- 22.25%
- 10Y*
- 28.49%
WCOG.L
- 1D
- -1.13%
- 1M
- -2.76%
- YTD
- 30.86%
- 6M
- 32.52%
- 1Y
- 43.95%
- 3Y*
- 16.01%
- 5Y*
- 11.53%
- 10Y*
- 8.06%
3USL.L vs. WCOG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 25.13% | 28.97% | 64.00% | 70.49% | -57.35% | 101.77% | 7.89% | 97.98% | -27.34% | 69.34% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 30.86% | 16.09% | 2.71% | -7.51% | 12.84% | 27.21% | 0.92% | 7.21% | -9.13% | 4.80% |
Correlation
The correlation between 3USL.L and WCOG.L is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.20 |
The correlation between 3USL.L and WCOG.L shifts across timeframes, from -0.17 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
3USL.L vs. WCOG.L — Risk / Return Rank
3USL.L
WCOG.L
3USL.L vs. WCOG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) and WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| 3USL.L | WCOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.45 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 7.44 | -4.38 |
| Martin ratioReturn relative to average drawdown | 12.28 | 16.61 | -4.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 3USL.L | WCOG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.25 | 2.55 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.74 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.59 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.61 | -0.01 |
Drawdowns
3USL.L vs. WCOG.L - Drawdown Comparison
The maximum 3USL.L drawdown since its inception was -76.72%, which is greater than WCOG.L's maximum drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for 3USL.L and WCOG.L.
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Drawdown Indicators
| 3USL.L | WCOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.72% | -28.45% | -48.27% |
Max Drawdown (1Y)Largest decline over 1 year | -25.29% | -5.88% | -19.41% |
Max Drawdown (3Y)Largest decline over 3 years | -48.69% | -9.71% | -38.98% |
Max Drawdown (5Y)Largest decline over 5 years | -63.47% | -24.47% | -39.00% |
Max Drawdown (10Y)Largest decline over 10 years | -76.72% | -28.45% | -48.27% |
Current DrawdownCurrent decline from peak | -1.82% | -3.96% | +2.14% |
Average DrawdownAverage peak-to-trough decline | -15.26% | -10.17% | -5.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.31% | 2.64% | +3.67% |
Volatility
3USL.L vs. WCOG.L - Volatility Comparison
WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a higher volatility of 9.42% compared to WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) at 6.24%. This indicates that 3USL.L's price experiences larger fluctuations and is considered to be riskier than WCOG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3USL.L | WCOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.42% | 6.24% | +3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 25.26% | 15.44% | +9.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.36% | 17.19% | +17.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.39% | 15.67% | +31.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.51% | 13.68% | +34.83% |
3USL.L vs. WCOG.L - Expense Ratio Comparison
3USL.L has a 0.75% expense ratio, which is higher than WCOG.L's 0.35% expense ratio.
Dividends
3USL.L vs. WCOG.L - Dividend Comparison
3USL.L has not paid dividends to shareholders, while WCOG.L's dividend yield for the trailing twelve months is around 2.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 2.68% | 4.56% | 4.54% | 0.65% | 0.00% | 0.30% | 1.64% | 1.64% | 0.46% |
Frequently Asked Questions
3USL.L and WCOG.L have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WCOG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WCOG.L is cheaper with a 0.35% expense ratio, compared with 0.75% for 3USL.L.
3USL.L is categorized as Leveraged Equities, while WCOG.L is Commodities. 3USL.L tracks S&P 500 Net Total Returns Index, while WCOG.L tracks Optimised Roll Commodity. Their fees differ too: 0.75% for 3USL.L and 0.35% for WCOG.L.
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