COMX.L vs. WCOB.L
COMX.L (WisdomTree Broad Commodities UCITS ETF) and WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) are both Commodities funds from WisdomTree - COMX.L tracks the Bloomberg Commodity while WCOB.L tracks the Optimised Roll Commodity. Both are passively managed. Over the past 3 years, COMX.L returned 13.55%/yr vs 14.00%/yr for WCOB.L. Their correlation of 0.90 suggests significant overlap in exposure. COMX.L charges 0.19%/yr vs 0.35%/yr for WCOB.L.
Performance
COMX.L vs. WCOB.L - Performance Comparison
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Returns By Period
In the year-to-date period, COMX.L achieves a 26.39% return, which is significantly lower than WCOB.L's 32.82% return.
COMX.L
- 1D
- 0.78%
- 1M
- -0.52%
- YTD
- 26.39%
- 6M
- 24.79%
- 1Y
- 40.20%
- 3Y*
- 13.55%
- 5Y*
- —
- 10Y*
- —
WCOB.L
- 1D
- 0.89%
- 1M
- 0.71%
- YTD
- 32.82%
- 6M
- 33.03%
- 1Y
- 46.58%
- 3Y*
- 14.00%
- 5Y*
- 13.00%
- 10Y*
- —
COMX.L vs. WCOB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
COMX.L WisdomTree Broad Commodities UCITS ETF | 26.39% | 8.58% | 6.24% | -12.51% | 28.76% | -25.70% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 32.82% | 7.73% | 4.50% | -12.06% | 25.92% | -0.15% |
Correlation
The correlation between COMX.L and WCOB.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2021 | 0.90 |
The correlation between COMX.L and WCOB.L has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
COMX.L vs. WCOB.L — Risk / Return Rank
COMX.L
WCOB.L
COMX.L vs. WCOB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Broad Commodities UCITS ETF (COMX.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.
| COMX.L | WCOB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.48 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 6.64 | -5.08 |
| Martin ratioReturn relative to average drawdown | 3.06 | 16.86 | -13.80 |
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
| COMX.L | WCOB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 2.64 | -1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.67 | -0.53 |
Drawdowns
COMX.L vs. WCOB.L - Drawdown Comparison
The maximum COMX.L drawdown since its inception was -28.64%, which is greater than WCOB.L's maximum drawdown of -27.14%. Use the drawdown chart below to compare losses from any high point for COMX.L and WCOB.L.
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Drawdown Indicators
| COMX.L | WCOB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.64% | -27.14% | -1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -25.58% | -6.98% | -18.60% |
Max Drawdown (3Y)Largest decline over 3 years | -25.58% | -13.74% | -11.84% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.14% | — |
Current DrawdownCurrent decline from peak | -3.81% | -2.60% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -17.64% | -11.71% | -5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.10% | 2.75% | +10.35% |
Volatility
COMX.L vs. WCOB.L - Volatility Comparison
WisdomTree Broad Commodities UCITS ETF (COMX.L) has a higher volatility of 6.14% compared to WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) at 5.76%. This indicates that COMX.L's price experiences larger fluctuations and is considered to be riskier 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
| COMX.L | WCOB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.14% | 5.76% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 16.05% | 15.30% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.18% | 17.55% | +27.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.36% | 15.37% | +16.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.36% | 15.90% | +16.46% |
COMX.L vs. WCOB.L - Expense Ratio Comparison
COMX.L has a 0.19% expense ratio, which is lower than WCOB.L's 0.35% expense ratio.
Dividends
COMX.L vs. WCOB.L - Dividend Comparison
Neither COMX.L nor WCOB.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, COMX.L and WCOB.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, COMX.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COMX.L is cheaper with a 0.19% expense ratio, compared with 0.35% for WCOB.L.
COMX.L tracks Bloomberg Commodity, while WCOB.L tracks Optimised Roll Commodity. Their fees differ too: 0.19% for COMX.L and 0.35% for WCOB.L.
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