COTN.L vs. DAX
COTN.L (WisdomTree Cotton) and DAX (Global X DAX Germany ETF) are both exchange-traded funds - COTN.L is a Agricultural Commodities fund tracking the Bloomberg Cotton, while DAX is a Europe Equities fund tracking the DAX Index. Both are passively managed. Over the past 10 years, COTN.L returned 0.25%/yr vs 9.18%/yr for DAX. At a 0.15 correlation, their price movements are largely independent. COTN.L charges 0.49%/yr vs 0.20%/yr for DAX.
Performance
COTN.L vs. DAX - Performance Comparison
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Returns By Period
In the year-to-date period, COTN.L achieves a 11.31% return, which is significantly higher than DAX's -1.23% return. Over the past 10 years, COTN.L has underperformed DAX with an annualized return of 0.25%, while DAX has yielded a comparatively higher 9.18% annualized return.
COTN.L
- 1D
- -3.53%
- 1M
- 2.50%
- 6M
- 10.31%
- YTD
- 11.31%
- 1Y
- 3.36%
- 3Y*
- -7.22%
- 5Y*
- -0.65%
- 10Y*
- 0.25%
DAX
- 1D
- -0.34%
- 1M
- -0.82%
- 6M
- -3.24%
- YTD
- -1.23%
- 1Y
- 0.70%
- 3Y*
- 15.58%
- 5Y*
- 8.54%
- 10Y*
- 9.18%
COTN.L vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COTN.L WisdomTree Cotton | 11.31% | -11.24% | -16.72% | -0.98% | -8.04% | 41.68% | 7.77% | -7.05% | -7.46% | 10.13% |
DAX Global X DAX Germany ETF | -1.23% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between COTN.L and DAX is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | 0.15 |
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Return for Risk
COTN.L vs. DAX — Risk / Return Rank
COTN.L
DAX
COTN.L vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Cotton (COTN.L) and Global X DAX Germany ETF (DAX). 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.
| COTN.L | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.02 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 0.05 | +0.13 |
| Martin ratioReturn relative to average drawdown | 0.40 | 0.14 | +0.26 |
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Drawdowns
COTN.L vs. DAX - Drawdown Comparison
The maximum COTN.L drawdown since its inception was -73.69%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for COTN.L and DAX.
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Drawdown Indicators
| COTN.L | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.69% | -45.58% | -28.11% |
Max Drawdown (1Y)Largest decline over 1 year | -18.82% | -14.82% | -4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -43.73% | -16.03% | -27.70% |
Max Drawdown (5Y)Largest decline over 5 years | -53.77% | -38.92% | -14.85% |
Max Drawdown (10Y)Largest decline over 10 years | -53.77% | -45.58% | -8.19% |
Current DrawdownCurrent decline from peak | -56.84% | -5.18% | -51.66% |
Average DrawdownAverage peak-to-trough decline | -51.86% | -10.45% | -41.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.28% | 4.96% | +3.32% |
Volatility
COTN.L vs. DAX - Volatility Comparison
WisdomTree Cotton (COTN.L) has a higher volatility of 6.39% compared to Global X DAX Germany ETF (DAX) at 4.78%. This indicates that COTN.L's price experiences larger fluctuations and is considered to be riskier than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COTN.L | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.39% | 4.78% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 16.77% | 15.30% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.57% | 18.03% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.75% | 20.44% | +7.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.99% | 20.91% | +4.08% |
COTN.L vs. DAX - Expense Ratio Comparison
COTN.L has a 0.49% expense ratio, which is higher than DAX's 0.20% expense ratio.
Dividends
COTN.L vs. DAX - Dividend Comparison
COTN.L has not paid dividends to shareholders, while DAX's dividend yield for the trailing twelve months is around 2.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COTN.L WisdomTree Cotton | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DAX Global X DAX Germany ETF | 2.13% | 1.47% | 2.24% | 2.48% | 2.80% | 2.65% | 2.25% | 2.47% | 3.33% | 1.73% | 1.78% | 1.41% |
Frequently Asked Questions
COTN.L and DAX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DAX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DAX is cheaper with a 0.20% expense ratio, compared with 0.49% for COTN.L.
COTN.L is categorized as Agricultural Commodities, while DAX is Europe Equities. COTN.L tracks Bloomberg Cotton, while DAX tracks DAX Index. They also come from different issuers: WisdomTree and Global X. Their fees differ too: 0.49% for COTN.L and 0.20% for DAX.
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