EN4C.DE vs. XCMC.DE
EN4C.DE (L&G Multi-Strategy Enhanced Commodities UCITS ETF) and XCMC.DE (Xtrackers Bloomberg Commodity Swap UCITS ETF 1C) are both Commodities funds - EN4C.DE tracks the Barclays Backwardation Tilt Multi-Strategy Capped while XCMC.DE tracks the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 3 years, EN4C.DE returned 9.70%/yr vs 11.29%/yr for XCMC.DE. Their correlation of 0.90 suggests significant overlap in exposure. EN4C.DE charges 0.30%/yr vs 0.19%/yr for XCMC.DE.
Performance
EN4C.DE vs. XCMC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EN4C.DE achieves a 24.44% return, which is significantly lower than XCMC.DE's 28.51% return.
EN4C.DE
- 1D
- -1.57%
- 1M
- 0.45%
- YTD
- 24.44%
- 6M
- 23.08%
- 1Y
- 29.56%
- 3Y*
- 9.70%
- 5Y*
- —
- 10Y*
- —
XCMC.DE
- 1D
- -1.20%
- 1M
- 0.63%
- YTD
- 28.51%
- 6M
- 19.13%
- 1Y
- 28.46%
- 3Y*
- 11.29%
- 5Y*
- —
- 10Y*
- —
EN4C.DE vs. XCMC.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% | 2.56% |
XCMC.DE Xtrackers Bloomberg Commodity Swap UCITS ETF 1C | 28.51% | -2.66% | 11.92% | -9.34% | 24.84% | -11.32% |
Correlation
The correlation between EN4C.DE and XCMC.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 | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.90 |
The correlation between EN4C.DE and XCMC.DE has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
EN4C.DE vs. XCMC.DE — Risk / Return Rank
EN4C.DE
XCMC.DE
EN4C.DE vs. XCMC.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 Xtrackers Bloomberg Commodity Swap UCITS ETF 1C (XCMC.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 | XCMC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 3.72 | -0.28 |
| Martin ratioReturn relative to average drawdown | 8.36 | 8.44 | -0.07 |
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 | XCMC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.66 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.44 | +0.28 |
Drawdowns
EN4C.DE vs. XCMC.DE - Drawdown Comparison
The maximum EN4C.DE drawdown since its inception was -25.41%, which is greater than XCMC.DE's maximum drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for EN4C.DE and XCMC.DE.
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Drawdown Indicators
| EN4C.DE | XCMC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.41% | -22.91% | -2.50% |
Max Drawdown (1Y)Largest decline over 1 year | -8.81% | -7.80% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -17.63% | -14.82% | -2.81% |
Current DrawdownCurrent decline from peak | -4.02% | -3.42% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -13.89% | -12.68% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 3.45% | +0.19% |
Volatility
EN4C.DE vs. XCMC.DE - Volatility Comparison
L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) has a higher volatility of 5.98% compared to Xtrackers Bloomberg Commodity Swap UCITS ETF 1C (XCMC.DE) at 4.94%. This indicates that EN4C.DE's price experiences larger fluctuations and is considered to be riskier than XCMC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EN4C.DE | XCMC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 4.94% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 15.31% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.98% | 17.48% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.11% | 17.33% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 17.33% | +0.78% |
EN4C.DE vs. XCMC.DE - Expense Ratio Comparison
EN4C.DE has a 0.30% expense ratio, which is higher than XCMC.DE's 0.19% expense ratio.
Dividends
EN4C.DE vs. XCMC.DE - Dividend Comparison
Neither EN4C.DE nor XCMC.DE has paid dividends to shareholders.
Frequently Asked Questions
EN4C.DE and XCMC.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, XCMC.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCMC.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 XCMC.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: Legal & General and Xtrackers. Their fees differ too: 0.30% for EN4C.DE and 0.19% for XCMC.DE.
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