ETL2.DE vs. BCFE.DE
ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) and BCFE.DE (UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc) are both Commodities funds - ETL2.DE tracks the Bloomberg Commodity 3 Month Forward while BCFE.DE tracks the UBS BCOM Constant Maturity (EUR Hedged). Both are passively managed. Over the past 5 years, ETL2.DE returned 13.12%/yr vs 9.76%/yr for BCFE.DE. A 0.77 correlation means they provide meaningful diversification when combined. ETL2.DE charges 0.30%/yr vs 0.34%/yr for BCFE.DE.
Performance
ETL2.DE vs. BCFE.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETL2.DE achieves a 18.23% return, which is significantly higher than BCFE.DE's 17.15% return.
ETL2.DE
- 1D
- -1.24%
- 1M
- 0.52%
- YTD
- 18.23%
- 6M
- 18.72%
- 1Y
- 27.69%
- 3Y*
- 10.87%
- 5Y*
- 13.12%
- 10Y*
- 8.17%
BCFE.DE
- 1D
- -1.12%
- 1M
- -0.08%
- YTD
- 17.15%
- 6M
- 18.41%
- 1Y
- 28.89%
- 3Y*
- 12.43%
- 5Y*
- 9.76%
- 10Y*
- —
ETL2.DE vs. BCFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 18.23% | 4.89% | 11.54% | -9.44% | 24.86% | 46.17% | -7.55% | 10.85% | -4.21% | 1.43% |
BCFE.DE UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc | 17.15% | 16.62% | 3.14% | -7.92% | 14.03% | 30.33% | -0.98% | 3.51% | -10.71% | 7.70% |
Correlation
The correlation between ETL2.DE and BCFE.DE is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017 | 0.77 |
The correlation between ETL2.DE and BCFE.DE has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETL2.DE vs. BCFE.DE — Risk / Return Rank
ETL2.DE
BCFE.DE
ETL2.DE vs. BCFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) and UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc (BCFE.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.
| ETL2.DE | BCFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.40 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 4.83 | -1.25 |
| Martin ratioReturn relative to average drawdown | 8.20 | 11.89 | -3.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ETL2.DE | BCFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 2.14 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.55 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.49 | -0.24 |
Drawdowns
ETL2.DE vs. BCFE.DE - Drawdown Comparison
The maximum ETL2.DE drawdown since its inception was -47.04%, which is greater than BCFE.DE's maximum drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for ETL2.DE and BCFE.DE.
Loading charts...
Drawdown Indicators
| ETL2.DE | BCFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.04% | -32.93% | -14.11% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -6.14% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -11.00% | -4.06% |
Max Drawdown (5Y)Largest decline over 5 years | -23.27% | -27.28% | +4.01% |
Max Drawdown (10Y)Largest decline over 10 years | -26.50% | — | — |
Current DrawdownCurrent decline from peak | -3.57% | -4.36% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -21.90% | -13.69% | -8.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 2.50% | +0.96% |
Volatility
ETL2.DE vs. BCFE.DE - Volatility Comparison
L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a higher volatility of 4.60% compared to UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc (BCFE.DE) at 4.33%. This indicates that ETL2.DE's price experiences larger fluctuations and is considered to be riskier than BCFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETL2.DE | BCFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 4.33% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 12.74% | 12.10% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 13.88% | +1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 17.51% | -2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.69% | 15.30% | -1.61% |
ETL2.DE vs. BCFE.DE - Expense Ratio Comparison
ETL2.DE has a 0.30% expense ratio, which is lower than BCFE.DE's 0.34% expense ratio.
Dividends
ETL2.DE vs. BCFE.DE - Dividend Comparison
Neither ETL2.DE nor BCFE.DE has paid dividends to shareholders.
Frequently Asked Questions
ETL2.DE and BCFE.DE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETL2.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETL2.DE is cheaper with a 0.30% expense ratio, compared with 0.34% for BCFE.DE.
ETL2.DE tracks Bloomberg Commodity 3 Month Forward, while BCFE.DE tracks UBS BCOM Constant Maturity (EUR Hedged). They also come from different issuers: Legal & General and UBS. Their fees differ too: 0.30% for ETL2.DE and 0.34% for BCFE.DE.
Find the right allocation for ETL2.DE and BCFE.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer