BCOG.L vs. EXUS.L
BCOG.L (L&G All Commodities UCITS ETF) and EXUS.L (Xtrackers MSCI World ex USA UCITS ETF 1C USD) are both exchange-traded funds - BCOG.L is a Commodities fund tracking the Bloomberg Commodity, while EXUS.L is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Index. Both are passively managed. Over the past year, BCOG.L returned 28.57% vs 27.31% for EXUS.L. At a correlation of -0.04, they often move in opposite directions. Both charge a 0.15% expense ratio.
Performance
BCOG.L vs. EXUS.L - Performance Comparison
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Different Trading Currencies
BCOG.L is traded in GBp, while EXUS.L is traded in USD. To make them comparable, the EXUS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, BCOG.L achieves a 16.06% return, which is significantly higher than EXUS.L's 11.24% return.
BCOG.L
- 1D
- 0.51%
- 1M
- -8.33%
- YTD
- 16.06%
- 6M
- 14.81%
- 1Y
- 28.57%
- 3Y*
- 9.80%
- 5Y*
- 10.83%
- 10Y*
- —
EXUS.L
- 1D
- 0.56%
- 1M
- 1.96%
- YTD
- 11.24%
- 6M
- 11.30%
- 1Y
- 27.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCOG.L vs. EXUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BCOG.L L&G All Commodities UCITS ETF | 16.06% | 8.16% | 6.97% |
EXUS.L Xtrackers MSCI World ex USA UCITS ETF 1C USD | 11.24% | 22.58% | 2.99% |
Correlation
The correlation between BCOG.L and EXUS.L is -0.20, 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 | -0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024 | -0.04 |
The correlation between BCOG.L and EXUS.L shifts across timeframes, from -0.20 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BCOG.L vs. EXUS.L — Risk / Return Rank
BCOG.L
EXUS.L
BCOG.L vs. EXUS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G All Commodities UCITS ETF (BCOG.L) and Xtrackers MSCI World ex USA UCITS ETF 1C USD (EXUS.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BCOG.L | EXUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.39 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 2.80 | -0.50 |
| Martin ratioReturn relative to average drawdown | 8.45 | 10.40 | -1.95 |
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Drawdowns
BCOG.L vs. EXUS.L - Drawdown Comparison
The maximum BCOG.L drawdown since its inception was -40.03%, which is greater than EXUS.L's maximum drawdown of -12.98%. Use the drawdown chart below to compare losses from any high point for BCOG.L and EXUS.L.
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Drawdown Indicators
| BCOG.L | EXUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.03% | -12.98% | -27.05% |
Max Drawdown (1Y)Largest decline over 1 year | -12.37% | -9.70% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -26.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.76% | — | — |
Current DrawdownCurrent decline from peak | -11.93% | -1.27% | -10.66% |
Average DrawdownAverage peak-to-trough decline | -19.02% | -1.73% | -17.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 2.62% | +0.75% |
Volatility
BCOG.L vs. EXUS.L - Volatility Comparison
L&G All Commodities UCITS ETF (BCOG.L) and Xtrackers MSCI World ex USA UCITS ETF 1C USD (EXUS.L) have volatilities of 4.08% and 4.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCOG.L | EXUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 4.00% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 16.06% | 11.46% | +4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.85% | 13.43% | +4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.53% | 13.56% | +7.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.86% | 13.56% | +6.30% |
BCOG.L vs. EXUS.L - Expense Ratio Comparison
Both BCOG.L and EXUS.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BCOG.L vs. EXUS.L - Dividend Comparison
Neither BCOG.L nor EXUS.L has paid dividends to shareholders.
Frequently Asked Questions
BCOG.L and EXUS.L have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BCOG.L and EXUS.L have the same expense ratio: 0.15% per year.
BCOG.L is categorized as Commodities, while EXUS.L is Foreign Large Cap Equities. BCOG.L tracks Bloomberg Commodity, while EXUS.L tracks MSCI World ex USA Index. They also come from different issuers: Legal & General and Xtrackers.
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