COMF.L vs. COMM.L
COMF.L (L&G Longer Dated All Commodities UCITS ETF) and COMM.L (iShares Diversified Commodity Swap UCITS ETF) are both Commodities funds - COMF.L tracks the Bloomberg Commodity Index 3 Month Forward Total Return while COMM.L tracks the Bloomberg Commodity. Both are passively managed. Over the past 5 years, COMF.L returned 11.24%/yr vs 10.40%/yr for COMM.L. Their correlation of 0.89 suggests significant overlap in exposure. COMF.L charges 0.30%/yr vs 0.19%/yr for COMM.L.
Performance
COMF.L vs. COMM.L - Performance Comparison
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Different Trading Currencies
COMF.L is traded in USD, while COMM.L is traded in GBp. To make them comparable, the COMM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, COMF.L achieves a 15.62% return, which is significantly lower than COMM.L's 20.90% return.
COMF.L
- 1D
- 0.49%
- 1M
- 1.36%
- 6M
- 12.32%
- YTD
- 15.62%
- 1Y
- 24.40%
- 3Y*
- 11.31%
- 5Y*
- 11.24%
- 10Y*
- 8.22%
COMM.L
- 1D
- 0.68%
- 1M
- 3.39%
- 6M
- 17.47%
- YTD
- 20.90%
- 1Y
- 30.46%
- 3Y*
- 12.70%
- 5Y*
- 10.40%
- 10Y*
- —
COMF.L vs. COMM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMF.L L&G Longer Dated All Commodities UCITS ETF | 15.62% | 16.43% | 5.13% | -6.37% | 18.73% | 32.96% | 2.52% | 7.36% | -8.43% | 6.56% |
COMM.L iShares Diversified Commodity Swap UCITS ETF | 20.90% | 16.72% | 4.42% | -7.94% | 14.62% | 27.87% | -4.24% | 7.54% | -10.43% | -18.87% |
Correlation
The correlation between COMF.L and COMM.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | 0.89 |
The correlation between COMF.L and COMM.L has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
COMF.L vs. COMM.L — Risk / Return Rank
COMF.L
COMM.L
COMF.L vs. COMM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Longer Dated All Commodities UCITS ETF (COMF.L) and iShares Diversified Commodity Swap UCITS ETF (COMM.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.
| COMF.L | COMM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.10 | -0.11 |
| Martin ratioReturn relative to average drawdown | 6.41 | 6.57 | -0.16 |
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Drawdowns
COMF.L vs. COMM.L - Drawdown Comparison
The maximum COMF.L drawdown since its inception was -60.21%, which is greater than COMM.L's maximum drawdown of -43.14%. Use the drawdown chart below to compare losses from any high point for COMF.L and COMM.L.
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Drawdown Indicators
| COMF.L | COMM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.21% | -43.14% | -17.07% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | -14.47% | +2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -12.25% | -23.45% | +11.20% |
Max Drawdown (5Y)Largest decline over 5 years | -22.56% | -26.35% | +3.79% |
Max Drawdown (10Y)Largest decline over 10 years | -29.69% | — | — |
Current DrawdownCurrent decline from peak | -7.12% | -8.25% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -29.35% | -18.67% | -10.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 4.62% | -0.84% |
Volatility
COMF.L vs. COMM.L - Volatility Comparison
The current volatility for L&G Longer Dated All Commodities UCITS ETF (COMF.L) is 3.57%, while iShares Diversified Commodity Swap UCITS ETF (COMM.L) has a volatility of 4.77%. This indicates that COMF.L experiences smaller price fluctuations and is considered to be less risky than COMM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COMF.L | COMM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 4.77% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 11.58% | 16.27% | -4.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 18.14% | -4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 21.57% | -6.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 19.79% | -6.51% |
COMF.L vs. COMM.L - Expense Ratio Comparison
COMF.L has a 0.30% expense ratio, which is higher than COMM.L's 0.19% expense ratio.
Dividends
COMF.L vs. COMM.L - Dividend Comparison
Neither COMF.L nor COMM.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, COMF.L and COMM.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, COMM.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COMM.L is cheaper with a 0.19% expense ratio, compared with 0.30% for COMF.L.
COMF.L tracks Bloomberg Commodity Index 3 Month Forward Total Return, while COMM.L tracks Bloomberg Commodity. They also come from different issuers: L&G and iShares. Their fees differ too: 0.30% for COMF.L and 0.19% for COMM.L.
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