CNX1.L vs. WCOB.L
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) are both exchange-traded funds - CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while WCOB.L is a Commodities fund tracking the Optimised Roll Commodity. Both are passively managed. Over the past 5 years, CNX1.L returned 18.83%/yr vs 12.74%/yr for WCOB.L. At a 0.10 correlation, their price movements are largely independent. CNX1.L charges 0.36%/yr vs 0.35%/yr for WCOB.L.
Performance
CNX1.L vs. WCOB.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNX1.L achieves a 19.85% return, which is significantly lower than WCOB.L's 31.29% return.
CNX1.L
- 1D
- -0.63%
- 1M
- 8.17%
- YTD
- 19.85%
- 6M
- 17.68%
- 1Y
- 40.87%
- 3Y*
- 24.68%
- 5Y*
- 18.83%
- 10Y*
- 22.43%
WCOB.L
- 1D
- -1.15%
- 1M
- 0.76%
- YTD
- 31.29%
- 6M
- 30.72%
- 1Y
- 44.44%
- 3Y*
- 13.21%
- 5Y*
- 12.74%
- 10Y*
- —
CNX1.L vs. WCOB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 19.85% | 11.57% | 28.51% | 47.71% | -25.53% | 29.50% | 43.24% | 33.63% | 4.62% | 8.72% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 31.29% | 7.73% | 4.50% | -12.06% | 25.92% | 28.89% | -3.11% | 3.86% | -3.43% | -3.53% |
Correlation
The correlation between CNX1.L and WCOB.L is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2017 | 0.10 |
The correlation between CNX1.L and WCOB.L shifts across timeframes, from -0.07 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CNX1.L vs. WCOB.L — Risk / Return Rank
CNX1.L
WCOB.L
CNX1.L vs. WCOB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) and WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.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.
| CNX1.L | WCOB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.46 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 6.47 | -2.71 |
| Martin ratioReturn relative to average drawdown | 11.10 | 16.38 | -5.28 |
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
| CNX1.L | WCOB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.82 | 2.57 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.83 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.66 | +0.48 |
Drawdowns
CNX1.L vs. WCOB.L - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, roughly equal to the maximum WCOB.L drawdown of -27.14%. Use the drawdown chart below to compare losses from any high point for CNX1.L and WCOB.L.
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Drawdown Indicators
| CNX1.L | WCOB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -27.14% | -0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -6.98% | -4.05% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -13.74% | -10.82% |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | -27.14% | -0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -27.56% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -3.72% | +3.09% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -11.70% | +7.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 2.76% | +0.99% |
Volatility
CNX1.L vs. WCOB.L - Volatility Comparison
The current volatility for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) is 4.13%, while WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) has a volatility of 5.81%. This indicates that CNX1.L experiences smaller price fluctuations and is considered to be less risky than WCOB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNX1.L | WCOB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.13% | 5.81% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 15.36% | -4.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.70% | 17.59% | -2.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.16% | 15.37% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.44% | 15.90% | +3.54% |
CNX1.L vs. WCOB.L - Expense Ratio Comparison
CNX1.L has a 0.36% expense ratio, which is higher than WCOB.L's 0.35% expense ratio.
Dividends
CNX1.L vs. WCOB.L - Dividend Comparison
Neither CNX1.L nor WCOB.L has paid dividends to shareholders.
Frequently Asked Questions
CNX1.L and WCOB.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WCOB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WCOB.L is cheaper with a 0.35% expense ratio, compared with 0.36% for CNX1.L.
CNX1.L is categorized as Nasdaq-100, while WCOB.L is Commodities. CNX1.L tracks NASDAQ-100 Index, while WCOB.L tracks Optimised Roll Commodity. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.36% for CNX1.L and 0.35% for WCOB.L.
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