ETLF.DE vs. PCOM.DE
ETLF.DE (L&G All Commodities UCITS ETF) and PCOM.DE (WisdomTree Broad Commodities UCITS ETF) are both Commodities funds tracking the Bloomberg Commodity, from Legal & General and WisdomTree respectively. Both are passively managed. Over the past 3 years, ETLF.DE returned 12.51%/yr vs 13.46%/yr for PCOM.DE. With a 0.95 correlation, they move nearly in lockstep. ETLF.DE charges 0.15%/yr vs 0.19%/yr for PCOM.DE.
Performance
ETLF.DE vs. PCOM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLF.DE achieves a 23.78% return, which is significantly lower than PCOM.DE's 25.30% return.
ETLF.DE
- 1D
- -1.48%
- 1M
- -0.32%
- YTD
- 23.78%
- 6M
- 22.90%
- 1Y
- 34.57%
- 3Y*
- 12.51%
- 5Y*
- 12.26%
- 10Y*
- —
PCOM.DE
- 1D
- 0.54%
- 1M
- 1.13%
- YTD
- 25.30%
- 6M
- 24.64%
- 1Y
- 37.29%
- 3Y*
- 13.46%
- 5Y*
- —
- 10Y*
- —
ETLF.DE vs. PCOM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETLF.DE L&G All Commodities UCITS ETF | 23.78% | 4.67% | 10.97% | -10.24% | 21.51% | 2.89% |
PCOM.DE WisdomTree Broad Commodities UCITS ETF | 25.30% | 5.09% | 10.91% | -10.29% | 19.78% | 3.63% |
Correlation
The correlation between ETLF.DE and PCOM.DE is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.95 |
The correlation between ETLF.DE and PCOM.DE has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
ETLF.DE vs. PCOM.DE — Risk / Return Rank
ETLF.DE
PCOM.DE
ETLF.DE vs. PCOM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G All Commodities UCITS ETF (ETLF.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.
| ETLF.DE | PCOM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 4.17 | -0.21 |
| Martin ratioReturn relative to average drawdown | 8.79 | 9.37 | -0.58 |
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
| ETLF.DE | PCOM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 1.89 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.64 | -0.11 |
Drawdowns
ETLF.DE vs. PCOM.DE - Drawdown Comparison
The maximum ETLF.DE drawdown since its inception was -28.78%, which is greater than PCOM.DE's maximum drawdown of -27.22%. Use the drawdown chart below to compare losses from any high point for ETLF.DE and PCOM.DE.
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Drawdown Indicators
| ETLF.DE | PCOM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.78% | -27.22% | -1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -8.80% | -8.82% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -15.96% | -15.80% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -27.00% | — | — |
Current DrawdownCurrent decline from peak | -4.91% | -3.52% | -1.39% |
Average DrawdownAverage peak-to-trough decline | -12.13% | -15.90% | +3.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 3.93% | +0.04% |
Volatility
ETLF.DE vs. PCOM.DE - Volatility Comparison
The current volatility for L&G All Commodities UCITS ETF (ETLF.DE) is 5.93%, while WisdomTree Broad Commodities UCITS ETF (PCOM.DE) has a volatility of 6.27%. This indicates that ETLF.DE experiences smaller price fluctuations and is considered to be less risky than PCOM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETLF.DE | PCOM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 6.27% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 16.60% | 17.17% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.79% | 19.43% | -0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.09% | 17.76% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 17.76% | -2.17% |
ETLF.DE vs. PCOM.DE - Expense Ratio Comparison
ETLF.DE has a 0.15% expense ratio, which is lower than PCOM.DE's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ETLF.DE vs. PCOM.DE - Dividend Comparison
Neither ETLF.DE nor PCOM.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, ETLF.DE and PCOM.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETLF.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLF.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for PCOM.DE.
Both ETFs track Bloomberg Commodity. They also come from different issuers: Legal & General and WisdomTree. Their fees differ too: 0.15% for ETLF.DE and 0.19% for PCOM.DE.
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