ALUM.L vs. BNQV.DE

Last updated Jun 5, 2026

ALUM.L (WisdomTree Aluminium) and BNQV.DE (BNPP RICI Enhanced Industriemetalle (TR) ETC) are both Metals funds - ALUM.L tracks the Bloomberg Aluminum while BNQV.DE tracks the RICI Enhanced Industrial Metals. Both are passively managed. Over the past 5 years, ALUM.L returned 7.40%/yr vs 7.90%/yr for BNQV.DE. A 0.69 correlation means they provide meaningful diversification when combined. ALUM.L charges 0.49%/yr vs 1.00%/yr for BNQV.DE.

Performance

ALUM.L vs. BNQV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Aluminium (ALUM.L) and BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ALUM.L is traded in USD, while BNQV.DE is traded in EUR. To make them comparable, the BNQV.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ALUM.L achieves a 25.85% return, which is significantly higher than BNQV.DE's 12.65% return.

ALUM.L

• 1D: -0.93%
• 1M: 2.73%
• YTD: 25.85%
• 6M: 29.08%
• 1Y: 52.01%
• 3Y*: 17.40%
• 5Y*: 7.40%
• 10Y*: 6.81%

BNQV.DE

• 1D: -0.28%
• 1M: 3.84%
• YTD: 12.65%
• 6M: 17.49%
• 1Y: 32.99%
• 3Y*: 14.37%
• 5Y*: 7.90%
• 10Y*: —

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

ALUM.L vs. BNQV.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALUM.L WisdomTree Aluminium	25.85%	17.98%	4.62%	-4.48%	-15.92%	38.11%	1.95%	-3.12%	-18.30%	29.16%
BNQV.DE BNPP RICI Enhanced Industriemetalle (TR) ETC	12.65%	18.99%	6.16%	-3.24%	0.42%	25.83%	12.30%	2.71%	-15.17%	29.00%

Correlation

The correlation between ALUM.L and BNQV.DE is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 16, 2016	0.69

The correlation between ALUM.L and BNQV.DE has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.

Return for Risk

ALUM.L vs. BNQV.DE — Risk / Return Rank

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

ALUM.L

ALUM.L Risk / Return Rank: 87
ALUM.L Sharpe Ratio Rank: 87
ALUM.L Sortino Ratio Rank: 87
ALUM.L Omega Ratio Rank: 82
ALUM.L Calmar Ratio Rank: 91
ALUM.L Martin Ratio Rank: 90

BNQV.DE

BNQV.DE Risk / Return Rank: 71
BNQV.DE Sharpe Ratio Rank: 65
BNQV.DE Sortino Ratio Rank: 67
BNQV.DE Omega Ratio Rank: 66
BNQV.DE Calmar Ratio Rank: 80
BNQV.DE Martin Ratio Rank: 79

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.

ALUM.L vs. BNQV.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Aluminium (ALUM.L) and BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE). 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.

	ALUM.L	BNQV.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.21	+0.64
Sortino ratio: Return per unit of downside risk	3.88	3.04	+0.84
Omega ratio: Gain probability vs. loss probability	1.48	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	5.84	3.59	+2.25
Martin ratio: Return relative to average drawdown	20.87	12.93	+7.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALUM.L vs. BNQV.DE - Sharpe Ratio Comparison

The current ALUM.L Sharpe Ratio is 2.85, which is comparable to the BNQV.DE Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of ALUM.L and BNQV.DE, 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

	ALUM.L	BNQV.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	2.21	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.41	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.47	-0.58

Drawdowns

ALUM.L vs. BNQV.DE - Drawdown Comparison

The maximum ALUM.L drawdown since its inception was -77.63%, which is greater than BNQV.DE's maximum drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for ALUM.L and BNQV.DE.

Drawdown Indicators

	ALUM.L	BNQV.DE	Difference
Max Drawdown Largest peak-to-trough decline	-77.63%	-38.67%	-38.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-9.15%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-20.63%	-16.64%	-3.99%
Max Drawdown (5Y) Largest decline over 5 years	-47.34%	-38.67%	-8.67%
Max Drawdown (10Y) Largest decline over 10 years	-47.34%	—	—
Current Drawdown Current decline from peak	-49.28%	-1.71%	-47.57%
Average Drawdown Average peak-to-trough decline	-58.59%	-16.31%	-42.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.54%	-0.06%

Volatility

ALUM.L vs. BNQV.DE - Volatility Comparison

WisdomTree Aluminium (ALUM.L) has a higher volatility of 6.12% compared to BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE) at 4.62%. This indicates that ALUM.L's price experiences larger fluctuations and is considered to be riskier than BNQV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALUM.L	BNQV.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	4.62%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	12.65%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	18.20%	14.85%	+3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.79%	19.38%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.01%	17.58%	+2.43%

ALUM.L vs. BNQV.DE - Expense Ratio Comparison

ALUM.L has a 0.49% expense ratio, which is lower than BNQV.DE's 1.00% expense ratio.

Dividends

ALUM.L vs. BNQV.DE - Dividend Comparison

Neither ALUM.L nor BNQV.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ALUM.L and BNQV.DE in my portfolio?

ALUM.L and BNQV.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ALUM.L or BNQV.DE?

On fees, ALUM.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ALUM.L or BNQV.DE?

ALUM.L is cheaper with a 0.49% expense ratio, compared with 1.00% for BNQV.DE.

What is the main difference between ALUM.L and BNQV.DE?

ALUM.L tracks Bloomberg Aluminum, while BNQV.DE tracks RICI Enhanced Industrial Metals. They also come from different issuers: WisdomTree and BNP Paribas. Their fees differ too: 0.49% for ALUM.L and 1.00% for BNQV.DE.