EN4C.DE vs. PCOM.DE
EN4C.DE (L&G Multi-Strategy Enhanced Commodities UCITS ETF) and PCOM.DE (WisdomTree Broad Commodities UCITS ETF) are both Commodities funds - EN4C.DE tracks the Barclays Backwardation Tilt Multi-Strategy Capped while PCOM.DE tracks the Bloomberg Commodity. Both are passively managed. Over the past 3 years, EN4C.DE returned 9.70%/yr vs 13.46%/yr for PCOM.DE. Their correlation of 0.89 suggests significant overlap in exposure. EN4C.DE charges 0.30%/yr vs 0.19%/yr for PCOM.DE.
Performance
EN4C.DE vs. PCOM.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EN4C.DE having a 24.44% return and PCOM.DE slightly higher at 25.30%.
EN4C.DE
- 1D
- -1.57%
- 1M
- 0.45%
- YTD
- 24.44%
- 6M
- 23.08%
- 1Y
- 29.56%
- 3Y*
- 9.70%
- 5Y*
- —
- 10Y*
- —
PCOM.DE
- 1D
- 0.54%
- 1M
- 1.13%
- YTD
- 25.30%
- 6M
- 24.64%
- 1Y
- 37.29%
- 3Y*
- 13.46%
- 5Y*
- —
- 10Y*
- —
EN4C.DE vs. PCOM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EN4C.DE L&G Multi-Strategy Enhanced Commodities UCITS ETF | 24.44% | -3.13% | 9.93% | -5.63% | 29.83% | 3.14% |
PCOM.DE WisdomTree Broad Commodities UCITS ETF | 25.30% | 5.09% | 10.91% | -10.29% | 19.78% | 3.63% |
Correlation
The correlation between EN4C.DE and PCOM.DE is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.89 |
The correlation between EN4C.DE and PCOM.DE has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.
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Return for Risk
EN4C.DE vs. PCOM.DE — Risk / Return Rank
EN4C.DE
PCOM.DE
EN4C.DE vs. PCOM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) and WisdomTree Broad Commodities UCITS ETF (PCOM.DE). 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.
| EN4C.DE | PCOM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 4.17 | -0.73 |
| Martin ratioReturn relative to average drawdown | 8.36 | 9.37 | -1.01 |
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
| EN4C.DE | PCOM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.89 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.64 | +0.08 |
Drawdowns
EN4C.DE vs. PCOM.DE - Drawdown Comparison
The maximum EN4C.DE drawdown since its inception was -25.41%, smaller than the maximum PCOM.DE drawdown of -27.22%. Use the drawdown chart below to compare losses from any high point for EN4C.DE and PCOM.DE.
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Drawdown Indicators
| EN4C.DE | PCOM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.41% | -27.22% | +1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.81% | -8.82% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -17.63% | -15.80% | -1.83% |
Current DrawdownCurrent decline from peak | -4.02% | -3.52% | -0.50% |
Average DrawdownAverage peak-to-trough decline | -13.89% | -15.90% | +2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 3.93% | -0.29% |
Volatility
EN4C.DE vs. PCOM.DE - Volatility Comparison
L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) and WisdomTree Broad Commodities UCITS ETF (PCOM.DE) have volatilities of 5.98% and 6.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EN4C.DE | PCOM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 6.27% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 17.17% | -2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.98% | 19.43% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.11% | 17.76% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 17.76% | +0.35% |
EN4C.DE vs. PCOM.DE - Expense Ratio Comparison
EN4C.DE has a 0.30% expense ratio, which is higher than PCOM.DE's 0.19% expense ratio.
Dividends
EN4C.DE vs. PCOM.DE - Dividend Comparison
Neither EN4C.DE nor PCOM.DE has paid dividends to shareholders.
Frequently Asked Questions
EN4C.DE and PCOM.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PCOM.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PCOM.DE is cheaper with a 0.19% expense ratio, compared with 0.30% for EN4C.DE.
EN4C.DE tracks Barclays Backwardation Tilt Multi-Strategy Capped, while PCOM.DE tracks Bloomberg Commodity. They also come from different issuers: Legal & General and WisdomTree. Their fees differ too: 0.30% for EN4C.DE and 0.19% for PCOM.DE.
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