BCOG.L vs. ROLG.L
BCOG.L (L&G All Commodities UCITS ETF) and ROLG.L (iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD) are both Commodities funds - BCOG.L tracks the Bloomberg Commodity while ROLG.L tracks the Bloomberg Roll Select Commodity. Both are passively managed. Over the past 5 years, BCOG.L returned 12.73%/yr vs 14.93%/yr for ROLG.L. Their correlation of 0.86 suggests significant overlap in exposure. BCOG.L charges 0.15%/yr vs 0.28%/yr for ROLG.L.
Performance
BCOG.L vs. ROLG.L - Performance Comparison
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Different Trading Currencies
BCOG.L is traded in GBp, while ROLG.L is traded in GBP. To make them comparable, the ROLG.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 26.69% return, which is significantly lower than ROLG.L's 29.88% return.
BCOG.L
- 1D
- 0.70%
- 1M
- -0.33%
- YTD
- 26.69%
- 6M
- 24.71%
- 1Y
- 39.39%
- 3Y*
- 13.46%
- 5Y*
- 12.73%
- 10Y*
- —
ROLG.L
- 1D
- 0.70%
- 1M
- 1.14%
- YTD
- 29.88%
- 6M
- 29.34%
- 1Y
- 45.86%
- 3Y*
- 15.28%
- 5Y*
- 14.93%
- 10Y*
- —
BCOG.L vs. ROLG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BCOG.L L&G All Commodities UCITS ETF | 26.69% | 8.16% | 6.13% | -12.32% | 29.36% | 29.04% | -6.24% | 1.82% | -9.04% |
ROLG.L iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD | 29.88% | 8.64% | 6.25% | -7.36% | 30.51% | 29.23% | -2.41% | 1.84% | -9.45% |
Correlation
The correlation between BCOG.L and ROLG.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018 | 0.86 |
The correlation between BCOG.L and ROLG.L has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.
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Return for Risk
BCOG.L vs. ROLG.L — Risk / Return Rank
BCOG.L
ROLG.L
BCOG.L vs. ROLG.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 iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD (ROLG.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.
| BCOG.L | ROLG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.49 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.57 | 6.70 | -2.12 |
| Martin ratioReturn relative to average drawdown | 10.61 | 19.05 | -8.44 |
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
| BCOG.L | ROLG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 2.75 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 0.84 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.60 | -0.10 |
Drawdowns
BCOG.L vs. ROLG.L - Drawdown Comparison
The maximum BCOG.L drawdown since its inception was -28.15%, which is greater than ROLG.L's maximum drawdown of -22.66%. Use the drawdown chart below to compare losses from any high point for BCOG.L and ROLG.L.
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Drawdown Indicators
| BCOG.L | ROLG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.15% | -22.66% | -5.49% |
Max Drawdown (1Y)Largest decline over 1 year | -8.57% | -6.81% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -13.27% | -1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -27.76% | -19.85% | -7.91% |
Current DrawdownCurrent decline from peak | -3.86% | -2.97% | -0.89% |
Average DrawdownAverage peak-to-trough decline | -11.67% | -8.98% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.70% | 2.40% | +1.30% |
Volatility
BCOG.L vs. ROLG.L - Volatility Comparison
L&G All Commodities UCITS ETF (BCOG.L) and iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD (ROLG.L) have volatilities of 6.04% and 5.84%, 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 | ROLG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 5.84% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 15.82% | 13.86% | +1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.45% | 16.60% | +1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.88% | 17.68% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.70% | 16.98% | -1.28% |
BCOG.L vs. ROLG.L - Expense Ratio Comparison
BCOG.L has a 0.15% expense ratio, which is lower than ROLG.L's 0.28% expense ratio.
Dividends
BCOG.L vs. ROLG.L - Dividend Comparison
Neither BCOG.L nor ROLG.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, BCOG.L and ROLG.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, BCOG.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BCOG.L is cheaper with a 0.15% expense ratio, compared with 0.28% for ROLG.L.
BCOG.L tracks Bloomberg Commodity, while ROLG.L tracks Bloomberg Roll Select Commodity. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.15% for BCOG.L and 0.28% for ROLG.L.
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