CYSE.L vs. FWRG

Last updated Jun 5, 2026

CYSE.L (WisdomTree Cybersecurity UCITS ETF USD Acc) is Technology Equities fund tracking the MSCI World/Information Tech NR USD, while FWRG (First Watch Restaurant Group, Inc.) is a stock. Over the past 3 years, CYSE.L returned 18.44%/yr vs -19.25%/yr for FWRG. At a 0.21 correlation, their price movements are largely independent.

Performance

CYSE.L vs. FWRG - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L) and First Watch Restaurant Group, Inc. (FWRG). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CYSE.L is traded in GBp, while FWRG is traded in USD. To make them comparable, the FWRG values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CYSE.L achieves a 24.45% return, which is significantly higher than FWRG's -31.82% return.

CYSE.L

• 1D: -1.44%
• 1M: 26.86%
• YTD: 24.45%
• 6M: 17.83%
• 1Y: 12.00%
• 3Y*: 18.44%
• 5Y*: 10.59%
• 10Y*: —

FWRG

• 1D: -2.75%
• 1M: -15.16%
• YTD: -31.82%
• 6M: -43.79%
• 1Y: -33.55%
• 3Y*: -19.25%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CYSE.L vs. FWRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CYSE.L WisdomTree Cybersecurity UCITS ETF USD Acc	24.45%	-8.72%	13.36%	60.49%	-36.28%	3.27%
FWRG First Watch Restaurant Group, Inc.	-31.82%	-24.74%	-5.80%	41.13%	-9.67%	-24.21%

Correlation

The correlation between CYSE.L and FWRG is 0.02, 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	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since Oct 4, 2021	0.21

The correlation between CYSE.L and FWRG shifts across timeframes, from 0.02 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CYSE.L vs. FWRG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CYSE.L

CYSE.L Risk / Return Rank: 15
CYSE.L Sharpe Ratio Rank: 15
CYSE.L Sortino Ratio Rank: 16
CYSE.L Omega Ratio Rank: 17
CYSE.L Calmar Ratio Rank: 14
CYSE.L Martin Ratio Rank: 13

FWRG

FWRG Risk / Return Rank: 13
FWRG Sharpe Ratio Rank: 14
FWRG Sortino Ratio Rank: 16
FWRG Omega Ratio Rank: 17
FWRG Calmar Ratio Rank: 15
FWRG Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CYSE.L vs. FWRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L) and First Watch Restaurant Group, Inc. (FWRG). 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.

	CYSE.L	FWRG	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-0.65	+1.02
Sortino ratio: Return per unit of downside risk	0.73	-0.72	+1.45
Omega ratio: Gain probability vs. loss probability	1.10	0.91	+0.19
Calmar ratio: Return relative to maximum drawdown	0.38	-0.73	+1.11
Martin ratio: Return relative to average drawdown	0.87	-1.50	+2.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CYSE.L vs. FWRG - Sharpe Ratio Comparison

The current CYSE.L Sharpe Ratio is 0.37, which is higher than the FWRG Sharpe Ratio of -0.65. The chart below compares the historical Sharpe Ratios of CYSE.L and FWRG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CYSE.L	FWRG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	-0.65	+1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	-0.32	+0.56

Drawdowns

CYSE.L vs. FWRG - Drawdown Comparison

The maximum CYSE.L drawdown since its inception was -46.58%, smaller than the maximum FWRG drawdown of -62.64%. Use the drawdown chart below to compare losses from any high point for CYSE.L and FWRG.

Drawdown Indicators

	CYSE.L	FWRG	Difference
Max Drawdown Largest peak-to-trough decline	-46.58%	-62.64%	+16.06%
Max Drawdown (1Y) Largest decline over 1 year	-31.22%	-46.34%	+15.12%
Max Drawdown (3Y) Largest decline over 3 years	-35.88%	-62.64%	+26.76%
Max Drawdown (5Y) Largest decline over 5 years	-46.58%	—	—
Current Drawdown Current decline from peak	-4.84%	-62.64%	+57.80%
Average Drawdown Average peak-to-trough decline	-19.16%	-26.70%	+7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.71%	22.45%	-8.74%

Volatility

CYSE.L vs. FWRG - Volatility Comparison

WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L) has a higher volatility of 13.86% compared to First Watch Restaurant Group, Inc. (FWRG) at 12.61%. This indicates that CYSE.L's price experiences larger fluctuations and is considered to be riskier than FWRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CYSE.L	FWRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.86%	12.61%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	28.40%	40.10%	-11.70%
Volatility (1Y) Calculated over the trailing 1-year period	32.03%	52.19%	-20.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.30%	46.99%	-15.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.34%	46.99%	-15.65%

Dividends

CYSE.L vs. FWRG - Dividend Comparison

Neither CYSE.L nor FWRG has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CYSE.L WisdomTree Cybersecurity UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.24%
FWRG First Watch Restaurant Group, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CYSE.L and FWRG in my portfolio?

CYSE.L and FWRG have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.