BCOG.L vs. UD07.L

Last updated Jun 4, 2026

BCOG.L (L&G All Commodities UCITS ETF) and UD07.L (UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (USD) A-acc) are both Commodities funds - BCOG.L tracks the Bloomberg Commodity while UD07.L tracks the UBS BCOM Constant Maturity. Both are passively managed. Over the past 5 years, BCOG.L returned 12.73%/yr vs 13.48%/yr for UD07.L. Their correlation of 0.89 suggests significant overlap in exposure. BCOG.L charges 0.15%/yr vs 0.34%/yr for UD07.L.

Performance

BCOG.L vs. UD07.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G All Commodities UCITS ETF (BCOG.L) and UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (USD) A-acc (UD07.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCOG.L achieves a 26.69% return, which is significantly higher than UD07.L's 21.43% 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*: —

UD07.L

• 1D: 0.85%
• 1M: 1.49%
• YTD: 21.43%
• 6M: 20.72%
• 1Y: 35.14%
• 3Y*: 12.39%
• 5Y*: 13.48%
• 10Y*: —

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

BCOG.L vs. UD07.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%	-3.55%
UD07.L UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (USD) A-acc	21.43%	9.88%	6.26%	-10.97%	32.08%	31.93%	-1.26%	2.82%	-2.04%

Correlation

The correlation between BCOG.L and UD07.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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 7, 2018	0.89

The correlation between BCOG.L and UD07.L has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

BCOG.L vs. UD07.L - Sectors Allocation Comparison

Sectors	BCOG.L	UD07.L
Basic Materials	35.8%	0.7%
Financial Services	17.8%	6.2%
Consumer Cyclical	12.9%	5.2%
Communication Services	12.3%	55.9%
Consumer Defensive	9.7%	1.9%
Real Estate	5.8%	0.1%
Technology	5.6%	16.1%
Energy	-	1.4%
Healthcare	-	3.1%
Industrials	-	7.2%
Utilities	-	2.2%

Return for Risk

BCOG.L vs. UD07.L — Risk / Return Rank

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

BCOG.L

BCOG.L Risk / Return Rank: 65
BCOG.L Sharpe Ratio Rank: 63
BCOG.L Sortino Ratio Rank: 55
BCOG.L Omega Ratio Rank: 63
BCOG.L Calmar Ratio Rank: 84
BCOG.L Martin Ratio Rank: 59

UD07.L

UD07.L Risk / Return Rank: 74
UD07.L Sharpe Ratio Rank: 73
UD07.L Sortino Ratio Rank: 65
UD07.L Omega Ratio Rank: 71
UD07.L Calmar Ratio Rank: 89
UD07.L Martin Ratio Rank: 74

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.

BCOG.L vs. UD07.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 UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (USD) A-acc (UD07.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	UD07.L	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.35	-0.23
Sortino ratio: Return per unit of downside risk	2.64	2.97	-0.32
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	4.57	5.37	-0.80
Martin ratio: Return relative to average drawdown	10.61	13.77	-3.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCOG.L vs. UD07.L - Sharpe Ratio Comparison

The current BCOG.L Sharpe Ratio is 2.13, which is comparable to the UD07.L Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of BCOG.L and UD07.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

	BCOG.L	UD07.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.35	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.47	+0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.42	+0.08

Drawdowns

BCOG.L vs. UD07.L - Drawdown Comparison

The maximum BCOG.L drawdown since its inception was -28.15%, smaller than the maximum UD07.L drawdown of -39.71%. Use the drawdown chart below to compare losses from any high point for BCOG.L and UD07.L.

Drawdown Indicators

	BCOG.L	UD07.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.15%	-39.71%	+11.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	-6.51%	-2.06%
Max Drawdown (3Y) Largest decline over 3 years	-14.48%	-12.61%	-1.87%
Max Drawdown (5Y) Largest decline over 5 years	-27.76%	-39.71%	+11.95%
Current Drawdown Current decline from peak	-3.86%	-11.33%	+7.47%
Average Drawdown Average peak-to-trough decline	-11.67%	-18.80%	+7.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.70%	2.55%	+1.15%

Volatility

BCOG.L vs. UD07.L - Volatility Comparison

L&G All Commodities UCITS ETF (BCOG.L) has a higher volatility of 6.04% compared to UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (USD) A-acc (UD07.L) at 5.26%. This indicates that BCOG.L's price experiences larger fluctuations and is considered to be riskier than UD07.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCOG.L	UD07.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	5.26%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	15.82%	12.50%	+3.32%
Volatility (1Y) Calculated over the trailing 1-year period	18.45%	14.87%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	28.79%	-11.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	23.77%	-8.07%

BCOG.L vs. UD07.L - Expense Ratio Comparison

BCOG.L has a 0.15% expense ratio, which is lower than UD07.L's 0.34% expense ratio.

Dividends

BCOG.L vs. UD07.L - Dividend Comparison

Neither BCOG.L nor UD07.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BCOG.L and UD07.L in my portfolio?

With a correlation of 0.94, BCOG.L and UD07.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.

Which ETF is better, BCOG.L or UD07.L?

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.

Which ETF is cheaper, BCOG.L or UD07.L?

BCOG.L is cheaper with a 0.15% expense ratio, compared with 0.34% for UD07.L.

What is the main difference between BCOG.L and UD07.L?

BCOG.L tracks Bloomberg Commodity, while UD07.L tracks UBS BCOM Constant Maturity. They also come from different issuers: Legal & General and UBS. Their fees differ too: 0.15% for BCOG.L and 0.34% for UD07.L.