CMFP.L vs. ROLG.L
CMFP.L (L&G Longer Dated All Commodities UCITS ETF) and ROLG.L (iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD) are both Commodities funds - CMFP.L tracks the Bloomberg Commodity 3 Month Forward while ROLG.L tracks the Bloomberg Roll Select Commodity. Both are passively managed. Over the past 5 years, CMFP.L returned 11.75%/yr vs 12.75%/yr for ROLG.L. Their correlation of 0.90 suggests significant overlap in exposure. CMFP.L charges 0.30%/yr vs 0.28%/yr for ROLG.L.
Performance
CMFP.L vs. ROLG.L - Performance Comparison
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Different Trading Currencies
CMFP.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, CMFP.L achieves a 11.75% return, which is significantly lower than ROLG.L's 17.97% return.
CMFP.L
- 1D
- -1.27%
- 1M
- -7.39%
- YTD
- 11.75%
- 6M
- 10.83%
- 1Y
- 23.21%
- 3Y*
- 8.97%
- 5Y*
- 11.75%
- 10Y*
- 7.94%
ROLG.L
- 1D
- -1.69%
- 1M
- -9.69%
- YTD
- 17.97%
- 6M
- 16.69%
- 1Y
- 31.76%
- 3Y*
- 11.75%
- 5Y*
- 12.75%
- 10Y*
- —
CMFP.L vs. ROLG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMFP.L L&G Longer Dated All Commodities UCITS ETF | 11.75% | 8.49% | 6.86% | -11.43% | 32.79% | 34.61% | -0.92% | 3.99% | -8.22% |
ROLG.L iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD | 17.97% | 8.66% | 6.32% | -7.36% | 30.51% | 29.23% | -2.41% | 1.84% | -30.50% |
Correlation
The correlation between CMFP.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 | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.90 |
The correlation between CMFP.L and ROLG.L has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
CMFP.L vs. ROLG.L — Risk / Return Rank
CMFP.L
ROLG.L
CMFP.L vs. ROLG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Longer Dated All Commodities UCITS ETF (CMFP.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.
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.
| CMFP.L | ROLG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.68 | -0.28 |
| Martin ratioReturn relative to average drawdown | 9.37 | 11.91 | -2.54 |
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Drawdowns
CMFP.L vs. ROLG.L - Drawdown Comparison
The maximum CMFP.L drawdown since its inception was -66.80%, which is greater than ROLG.L's maximum drawdown of -40.64%. Use the drawdown chart below to compare losses from any high point for CMFP.L and ROLG.L.
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Drawdown Indicators
| CMFP.L | ROLG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.80% | -40.64% | -26.16% |
Max Drawdown (1Y)Largest decline over 1 year | -9.63% | -11.80% | +2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -25.15% | -25.00% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -25.15% | -25.00% | -0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | — | — |
Current DrawdownCurrent decline from peak | -11.13% | -11.80% | +0.67% |
Average DrawdownAverage peak-to-trough decline | -43.89% | -18.42% | -25.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.66% | -0.19% |
Volatility
CMFP.L vs. ROLG.L - Volatility Comparison
The current volatility for L&G Longer Dated All Commodities UCITS ETF (CMFP.L) is 3.37%, while iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD (ROLG.L) has a volatility of 4.71%. This indicates that CMFP.L experiences smaller price fluctuations and is considered to be less risky than ROLG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMFP.L | ROLG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 4.71% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 12.35% | 14.49% | -2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.80% | 16.92% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.04% | 22.19% | -2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.68% | 21.68% | -5.00% |
CMFP.L vs. ROLG.L - Expense Ratio Comparison
CMFP.L has a 0.30% expense ratio, which is higher than ROLG.L's 0.28% expense ratio.
Dividends
CMFP.L vs. ROLG.L - Dividend Comparison
Neither CMFP.L nor ROLG.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, CMFP.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, ROLG.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ROLG.L is cheaper with a 0.28% expense ratio, compared with 0.30% for CMFP.L.
CMFP.L tracks Bloomberg Commodity 3 Month Forward, while ROLG.L tracks Bloomberg Roll Select Commodity. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.30% for CMFP.L and 0.28% for ROLG.L.
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