G500.L vs. BCOM.L

Last updated Jul 16, 2026

G500.L (Invesco S&P 500 UCITS ETF (GBP Hdg)) and BCOM.L (L&G All Commodities UCITS ETF - USD Accumulating ETF) are both exchange-traded funds - G500.L is a Global Equities fund tracking the Invesco S&P 500 UCITS ETF (GBP Hdg), while BCOM.L is a Commodities fund tracking the Bloomberg Commodity Index Total Return. Both are passively managed. Over the past 5 years, G500.L returned 12.15%/yr vs 10.75%/yr for BCOM.L. At a 0.06 correlation, their price movements are largely independent. G500.L charges 0.05%/yr vs 0.15%/yr for BCOM.L.

Performance

G500.L vs. BCOM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) and L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

G500.L is traded in GBp, while BCOM.L is traded in USD. To make them comparable, the BCOM.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, G500.L achieves a 9.90% return, which is significantly lower than BCOM.L's 19.63% return.

G500.L

• 1D: -0.05%
• 1M: -0.03%
• 6M: 9.49%
• YTD: 9.90%
• 1Y: 21.08%
• 3Y*: 19.63%
• 5Y*: 12.15%
• 10Y*: —

BCOM.L

• 1D: 0.00%
• 1M: 0.63%
• 6M: 14.57%
• YTD: 19.63%
• 1Y: 28.48%
• 3Y*: 11.29%
• 5Y*: 10.75%
• 10Y*: —

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

G500.L vs. BCOM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg)	9.90%	17.45%	24.98%	24.88%	-19.98%	28.95%	20.65%
BCOM.L L&G All Commodities UCITS ETF - USD Accumulating ETF	19.63%	7.91%	6.26%	-11.88%	29.38%	28.55%	9.31%

Correlation

The correlation between G500.L and BCOM.L is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020	0.06

The correlation between G500.L and BCOM.L shifts across timeframes, from -0.20 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

G500.L vs. BCOM.L — Risk / Return Rank

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

G500.L

G500.L Risk / Return Rank: 71
G500.L Sharpe Ratio Rank: 70
G500.L Sortino Ratio Rank: 75
G500.L Omega Ratio Rank: 69
G500.L Calmar Ratio Rank: 66
G500.L Martin Ratio Rank: 73

BCOM.L

BCOM.L Risk / Return Rank: 59
BCOM.L Sharpe Ratio Rank: 68
BCOM.L Sortino Ratio Rank: 61
BCOM.L Omega Ratio Rank: 66
BCOM.L Calmar Ratio Rank: 51
BCOM.L Martin Ratio Rank: 49

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.

G500.L vs. BCOM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) and L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	G500.L	BCOM.L	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.59	+0.22
Sortino ratio: Return per unit of downside risk	2.70	2.10	+0.60
Omega ratio: Gain probability vs. loss probability	1.33	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.65	2.18	+0.47
Martin ratio: Return relative to average drawdown	10.68	6.67	+4.01

G500.L vs. BCOM.L - Sharpe Ratio Comparison

The current G500.L Sharpe Ratio is 1.81, which is comparable to the BCOM.L Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of G500.L and BCOM.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

G500.L vs. BCOM.L - Drawdown Comparison

The maximum G500.L drawdown since its inception was -25.20%, smaller than the maximum BCOM.L drawdown of -27.79%. Use the drawdown chart below to compare losses from any high point for G500.L and BCOM.L.

Drawdown Indicators

	G500.L	BCOM.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.20%	-27.79%	+2.59%
Max Drawdown (1Y) Largest decline over 1 year	-8.21%	-12.97%	+4.76%
Max Drawdown (3Y) Largest decline over 3 years	-18.22%	-14.40%	-3.82%
Max Drawdown (5Y) Largest decline over 5 years	-25.20%	-27.75%	+2.55%
Current Drawdown Current decline from peak	-0.66%	-9.06%	+8.40%
Average Drawdown Average peak-to-trough decline	-5.31%	-11.31%	+6.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	4.24%	-2.20%

Volatility

G500.L vs. BCOM.L - Volatility Comparison

The current volatility for Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) is 2.79%, while L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L) has a volatility of 4.14%. This indicates that G500.L experiences smaller price fluctuations and is considered to be less risky than BCOM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	G500.L	BCOM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	4.14%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	15.60%	-6.32%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	17.79%	-5.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	17.00%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.87%	16.02%	-0.15%

G500.L vs. BCOM.L - Expense Ratio Comparison

G500.L has a 0.05% expense ratio, which is lower than BCOM.L's 0.15% 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

G500.L vs. BCOM.L - Dividend Comparison

Neither G500.L nor BCOM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both G500.L and BCOM.L in my portfolio?

G500.L and BCOM.L have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, G500.L or BCOM.L?

On fees, G500.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, G500.L or BCOM.L?

G500.L is cheaper with a 0.05% expense ratio, compared with 0.15% for BCOM.L.

What is the main difference between G500.L and BCOM.L?

G500.L is categorized as Global Equities, while BCOM.L is Commodities. G500.L tracks Invesco S&P 500 UCITS ETF (GBP Hdg), while BCOM.L tracks Bloomberg Commodity Index Total Return. They also come from different issuers: Invesco and L&G. Their fees differ too: 0.05% for G500.L and 0.15% for BCOM.L.