3USL.L vs. WCOM.L

Last updated Jun 5, 2026

3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) and WCOM.L (WisdomTree Enhanced Commodity UCITS ETF GBP Hedged Acc) are both exchange-traded funds - 3USL.L is a Leveraged Equities fund tracking the S&P 500 Net Total Returns Index, while WCOM.L is a Commodities fund tracking the Optimized Roll Commodity (GBP Hedged). Both are passively managed. Over the past 5 years, 3USL.L returned 22.25%/yr vs 9.80%/yr for WCOM.L. At a 0.31 correlation, their price movements are largely independent. 3USL.L charges 0.75%/yr vs 0.35%/yr for WCOM.L.

Performance

3USL.L vs. WCOM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) and WisdomTree Enhanced Commodity UCITS ETF GBP Hedged Acc (WCOM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

3USL.L is traded in USD, while WCOM.L is traded in GBp. To make them comparable, the WCOM.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 WCOM.L's 31.30% 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%

WCOM.L

• 1D: -1.07%
• 1M: -3.48%
• YTD: 31.30%
• 6M: 33.83%
• 1Y: 42.89%
• 3Y*: 18.94%
• 5Y*: 9.80%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

3USL.L vs. WCOM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
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%	-34.55%
WCOM.L WisdomTree Enhanced Commodity UCITS ETF GBP Hedged Acc	31.30%	24.01%	0.78%	-2.89%	-0.23%	24.41%	2.48%	8.36%	-6.06%

Correlation

The correlation between 3USL.L and WCOM.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Aug 20, 2018	0.31

The correlation between 3USL.L and WCOM.L shifts across timeframes, from -0.01 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

3USL.L vs. WCOM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

3USL.L

3USL.L Risk / Return Rank: 65
3USL.L Sharpe Ratio Rank: 70
3USL.L Sortino Ratio Rank: 64
3USL.L Omega Ratio Rank: 60
3USL.L Calmar Ratio Rank: 63
3USL.L Martin Ratio Rank: 67

WCOM.L

WCOM.L Risk / Return Rank: 85
WCOM.L Sharpe Ratio Rank: 84
WCOM.L Sortino Ratio Rank: 78
WCOM.L Omega Ratio Rank: 82
WCOM.L Calmar Ratio Rank: 94
WCOM.L Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

3USL.L vs. WCOM.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 GBP Hedged Acc (WCOM.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	WCOM.L	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.42	-0.17
Sortino ratio: Return per unit of downside risk	2.94	3.17	-0.23
Omega ratio: Gain probability vs. loss probability	1.36	1.41	-0.05
Calmar ratio: Return relative to maximum drawdown	3.06	5.99	-2.93
Martin ratio: Return relative to average drawdown	12.28	15.82	-3.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3USL.L vs. WCOM.L - Sharpe Ratio Comparison

The current 3USL.L Sharpe Ratio is 2.25, which is comparable to the WCOM.L Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of 3USL.L and WCOM.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	3USL.L	WCOM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.42	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.51	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.54	+0.06

Drawdowns

3USL.L vs. WCOM.L - Drawdown Comparison

The maximum 3USL.L drawdown since its inception was -76.72%, which is greater than WCOM.L's maximum drawdown of -35.85%. Use the drawdown chart below to compare losses from any high point for 3USL.L and WCOM.L.

Drawdown Indicators

	3USL.L	WCOM.L	Difference
Max Drawdown Largest peak-to-trough decline	-76.72%	-35.85%	-40.87%
Max Drawdown (1Y) Largest decline over 1 year	-25.29%	-7.13%	-18.16%
Max Drawdown (3Y) Largest decline over 3 years	-48.69%	-11.58%	-37.11%
Max Drawdown (5Y) Largest decline over 5 years	-63.47%	-31.82%	-31.65%
Max Drawdown (10Y) Largest decline over 10 years	-76.72%	—	—
Current Drawdown Current decline from peak	-1.82%	-4.76%	+2.94%
Average Drawdown Average peak-to-trough decline	-15.26%	-13.24%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.31%	2.70%	+3.61%

Volatility

3USL.L vs. WCOM.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 GBP Hedged Acc (WCOM.L) at 5.99%. This indicates that 3USL.L's price experiences larger fluctuations and is considered to be riskier than WCOM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3USL.L	WCOM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.42%	5.99%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	25.26%	15.37%	+9.89%
Volatility (1Y) Calculated over the trailing 1-year period	34.36%	17.65%	+16.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.39%	19.06%	+28.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.51%	18.06%	+30.45%

3USL.L vs. WCOM.L - Expense Ratio Comparison

3USL.L has a 0.75% expense ratio, which is higher than WCOM.L's 0.35% expense ratio.

Dividends

3USL.L vs. WCOM.L - Dividend Comparison

Neither 3USL.L nor WCOM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 3USL.L and WCOM.L in my portfolio?

3USL.L and WCOM.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 3USL.L or WCOM.L?

On fees, WCOM.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3USL.L or WCOM.L?

WCOM.L is cheaper with a 0.35% expense ratio, compared with 0.75% for 3USL.L.

What is the main difference between 3USL.L and WCOM.L?

3USL.L is categorized as Leveraged Equities, while WCOM.L is Commodities. 3USL.L tracks S&P 500 Net Total Returns Index, while WCOM.L tracks Optimized Roll Commodity (GBP Hedged). Their fees differ too: 0.75% for 3USL.L and 0.35% for WCOM.L.