COMF.L vs. UD08.L
COMF.L (L&G Longer Dated All Commodities UCITS ETF) and UD08.L (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc) are both Commodities funds - COMF.L tracks the Bloomberg Commodity Index 3 Month Forward Total Return while UD08.L tracks the UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged). Both are passively managed. Over the past 5 years, COMF.L returned 11.24%/yr vs 9.72%/yr for UD08.L. A 0.75 correlation means they provide meaningful diversification when combined. COMF.L charges 0.30%/yr vs 0.34%/yr for UD08.L.
Performance
COMF.L vs. UD08.L - Performance Comparison
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Different Trading Currencies
COMF.L is traded in USD, while UD08.L is traded in GBp. To make them comparable, the UD08.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 COMF.L having a 15.62% return and UD08.L slightly lower at 15.27%.
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%
UD08.L
- 1D
- 0.63%
- 1M
- -4.69%
- 6M
- 12.17%
- YTD
- 15.27%
- 1Y
- 27.55%
- 3Y*
- 14.18%
- 5Y*
- 9.72%
- 10Y*
- —
COMF.L vs. UD08.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -9.99% |
UD08.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc | 15.27% | 27.83% | 4.61% | -1.34% | 0.32% | 32.52% | -0.82% | 12.27% | -17.51% |
Correlation
The correlation between COMF.L and UD08.L is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2018 | 0.75 |
The correlation between COMF.L and UD08.L has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
COMF.L vs. UD08.L — Risk / Return Rank
COMF.L
UD08.L
COMF.L vs. UD08.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 UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.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 | UD08.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.28 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 1.97 | +0.02 |
| Martin ratioReturn relative to average drawdown | 6.41 | 6.91 | -0.51 |
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Drawdowns
COMF.L vs. UD08.L - Drawdown Comparison
The maximum COMF.L drawdown since its inception was -60.21%, which is greater than UD08.L's maximum drawdown of -49.34%. Use the drawdown chart below to compare losses from any high point for COMF.L and UD08.L.
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Drawdown Indicators
| COMF.L | UD08.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.21% | -49.34% | -10.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | -13.25% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.25% | -13.25% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -22.56% | -37.94% | +15.38% |
Max Drawdown (10Y)Largest decline over 10 years | -29.69% | — | — |
Current DrawdownCurrent decline from peak | -7.12% | -9.06% | +1.94% |
Average DrawdownAverage peak-to-trough decline | -29.35% | -15.13% | -14.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 3.77% | +0.01% |
Volatility
COMF.L vs. UD08.L - Volatility Comparison
The current volatility for L&G Longer Dated All Commodities UCITS ETF (COMF.L) is 3.57%, while UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L) has a volatility of 6.34%. This indicates that COMF.L experiences smaller price fluctuations and is considered to be less risky than UD08.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 | UD08.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 6.34% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 11.58% | 13.52% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 16.61% | -2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 21.23% | -6.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 21.17% | -7.89% |
COMF.L vs. UD08.L - Expense Ratio Comparison
COMF.L has a 0.30% expense ratio, which is lower than UD08.L's 0.34% expense ratio.
Dividends
COMF.L vs. UD08.L - Dividend Comparison
Neither COMF.L nor UD08.L has paid dividends to shareholders.
Frequently Asked Questions
COMF.L and UD08.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COMF.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COMF.L is cheaper with a 0.30% expense ratio, compared with 0.34% for UD08.L.
COMF.L tracks Bloomberg Commodity Index 3 Month Forward Total Return, while UD08.L tracks UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged). They also come from different issuers: L&G and UBS. Their fees differ too: 0.30% for COMF.L and 0.34% for UD08.L.
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