BCOM.L vs. COMX.L

Last updated Jul 18, 2026

BCOM.L (L&G All Commodities UCITS ETF - USD Accumulating ETF) and COMX.L (WisdomTree Broad Commodities UCITS ETF) are both Commodities funds - BCOM.L tracks the Bloomberg Commodity Index Total Return while COMX.L tracks the Bloomberg Commodity. Both are passively managed. Over the past 3 years, BCOM.L returned 12.55%/yr vs 12.73%/yr for COMX.L. Their correlation of 0.88 suggests significant overlap in exposure. BCOM.L charges 0.15%/yr vs 0.19%/yr for COMX.L.

Performance

BCOM.L vs. COMX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L) and WisdomTree Broad Commodities UCITS ETF (COMX.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BCOM.L is traded in USD, while COMX.L is traded in GBp. To make them comparable, the COMX.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with BCOM.L having a 21.11% return and COMX.L slightly lower at 20.89%.

BCOM.L

• 1D: 0.72%
• 1M: 2.57%
• 6M: 17.34%
• YTD: 21.11%
• 1Y: 30.23%
• 3Y*: 12.55%
• 5Y*: 10.55%
• 10Y*: —

COMX.L

• 1D: 0.66%
• 1M: 3.43%
• 6M: 17.25%
• YTD: 20.89%
• 1Y: 30.63%
• 3Y*: 12.73%
• 5Y*: —
• 10Y*: —

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

BCOM.L vs. COMX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BCOM.L L&G All Commodities UCITS ETF - USD Accumulating ETF	21.11%	16.19%	4.43%	-7.25%	15.63%	-0.54%
COMX.L WisdomTree Broad Commodities UCITS ETF	20.89%	16.77%	4.47%	-7.89%	15.00%	-24.47%

Correlation

The correlation between BCOM.L and COMX.L is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 29, 2021	0.88

The correlation between BCOM.L and COMX.L has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

Return for Risk

BCOM.L vs. COMX.L — Risk / Return Rank

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

BCOM.L

BCOM.L Risk / Return Rank: 64
BCOM.L Sharpe Ratio Rank: 74
BCOM.L Sortino Ratio Rank: 67
BCOM.L Omega Ratio Rank: 72
BCOM.L Calmar Ratio Rank: 56
BCOM.L Martin Ratio Rank: 52

COMX.L

COMX.L Risk / Return Rank: 59
COMX.L Sharpe Ratio Rank: 65
COMX.L Sortino Ratio Rank: 57
COMX.L Omega Ratio Rank: 62
COMX.L Calmar Ratio Rank: 58
COMX.L Martin Ratio Rank: 52

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.

BCOM.L vs. COMX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L) and WisdomTree Broad Commodities UCITS ETF (COMX.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.

	BCOM.L	COMX.L	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.71	+0.07
Sortino ratio: Return per unit of downside risk	2.32	2.21	+0.11
Omega ratio: Gain probability vs. loss probability	1.32	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	2.10	2.10	0.00
Martin ratio: Return relative to average drawdown	6.60	6.53	+0.07

BCOM.L vs. COMX.L - Sharpe Ratio Comparison

The current BCOM.L Sharpe Ratio is 1.78, which is comparable to the COMX.L Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of BCOM.L and COMX.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.

Drawdowns

BCOM.L vs. COMX.L - Drawdown Comparison

The maximum BCOM.L drawdown since its inception was -31.65%, which is greater than COMX.L's maximum drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for BCOM.L and COMX.L.

Drawdown Indicators

	BCOM.L	COMX.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.65%	-27.78%	-3.87%
Max Drawdown (1Y) Largest decline over 1 year	-14.33%	-14.52%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.33%	-14.52%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-26.27%	—	—
Current Drawdown Current decline from peak	-8.13%	-8.37%	+0.24%
Average Drawdown Average peak-to-trough decline	-11.63%	-15.82%	+4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	4.65%	-0.13%

Volatility

BCOM.L vs. COMX.L - Volatility Comparison

The current volatility for L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L) is 4.12%, while WisdomTree Broad Commodities UCITS ETF (COMX.L) has a volatility of 4.38%. This indicates that BCOM.L experiences smaller price fluctuations and is considered to be less risky than COMX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCOM.L	COMX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	4.38%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	14.82%	15.93%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.93%	17.83%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	20.80%	-4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.34%	20.80%	-5.46%

BCOM.L vs. COMX.L - Expense Ratio Comparison

BCOM.L has a 0.15% expense ratio, which is lower than COMX.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BCOM.L vs. COMX.L - Dividend Comparison

Neither BCOM.L nor COMX.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BCOM.L and COMX.L in my portfolio?

With a correlation of 0.95, BCOM.L and COMX.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, BCOM.L or COMX.L?

On fees, BCOM.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, BCOM.L or COMX.L?

BCOM.L is cheaper with a 0.15% expense ratio, compared with 0.19% for COMX.L.

What is the main difference between BCOM.L and COMX.L?

BCOM.L tracks Bloomberg Commodity Index Total Return, while COMX.L tracks Bloomberg Commodity. They also come from different issuers: L&G and WisdomTree. Their fees differ too: 0.15% for BCOM.L and 0.19% for COMX.L.