GLEN.L vs. CMOP.L

Last updated Jun 4, 2026

GLEN.L (Glencore plc) is a stock, while CMOP.L (Invesco Bloomberg Commodity UCITS ETF Acc) is Commodities fund tracking the Bloomberg Commodity. Over the past 5 years, GLEN.L returned 18.80%/yr vs 12.38%/yr for CMOP.L. At a 0.30 correlation, their price movements are largely independent.

Performance

GLEN.L vs. CMOP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Glencore plc (GLEN.L) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLEN.L achieves a 50.84% return, which is significantly higher than CMOP.L's 26.50% return.

GLEN.L

• 1D: -1.09%
• 1M: 8.93%
• YTD: 50.84%
• 6M: 60.08%
• 1Y: 120.55%
• 3Y*: 16.64%
• 5Y*: 18.80%
• 10Y*: 21.65%

CMOP.L

• 1D: 0.76%
• 1M: -0.24%
• YTD: 26.50%
• 6M: 24.83%
• 1Y: 40.15%
• 3Y*: 13.35%
• 5Y*: 12.38%
• 10Y*: —

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

GLEN.L vs. CMOP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLEN.L Glencore plc	50.84%	19.35%	-23.37%	-6.11%	57.12%	67.01%	9.85%	-15.47%	-22.76%	23.97%
CMOP.L Invesco Bloomberg Commodity UCITS ETF Acc	26.50%	8.23%	6.01%	-12.72%	28.44%	28.71%	-7.11%	3.31%	-5.01%	-5.69%

Correlation

The correlation between GLEN.L and CMOP.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Apr 11, 2017	0.30

The correlation between GLEN.L and CMOP.L shifts across timeframes, from 0.16 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GLEN.L vs. CMOP.L — Risk / Return Rank

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

GLEN.L

GLEN.L Risk / Return Rank: 96
GLEN.L Sharpe Ratio Rank: 97
GLEN.L Sortino Ratio Rank: 97
GLEN.L Omega Ratio Rank: 95
GLEN.L Calmar Ratio Rank: 96
GLEN.L Martin Ratio Rank: 97

CMOP.L

CMOP.L Risk / Return Rank: 68
CMOP.L Sharpe Ratio Rank: 64
CMOP.L Sortino Ratio Rank: 55
CMOP.L Omega Ratio Rank: 65
CMOP.L Calmar Ratio Rank: 88
CMOP.L Martin Ratio Rank: 66

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.

GLEN.L vs. CMOP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Glencore plc (GLEN.L) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.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.

	GLEN.L	CMOP.L	Difference
Sharpe ratio: Return per unit of total volatility	3.87	2.18	+1.69
Sortino ratio: Return per unit of downside risk	4.67	2.66	+2.02
Omega ratio: Gain probability vs. loss probability	1.59	1.40	+0.19
Calmar ratio: Return relative to maximum drawdown	8.51	5.24	+3.27
Martin ratio: Return relative to average drawdown	28.08	12.05	+16.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLEN.L vs. CMOP.L - Sharpe Ratio Comparison

The current GLEN.L Sharpe Ratio is 3.87, which is higher than the CMOP.L Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of GLEN.L and CMOP.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.

Sharpe Ratios by Period

	GLEN.L	CMOP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.87	2.18	+1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.75	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.44	-0.32

Drawdowns

GLEN.L vs. CMOP.L - Drawdown Comparison

The maximum GLEN.L drawdown since its inception was -85.66%, which is greater than CMOP.L's maximum drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for GLEN.L and CMOP.L.

Drawdown Indicators

	GLEN.L	CMOP.L	Difference
Max Drawdown Largest peak-to-trough decline	-85.66%	-28.78%	-56.88%
Max Drawdown (1Y) Largest decline over 1 year	-14.09%	-7.63%	-6.46%
Max Drawdown (3Y) Largest decline over 3 years	-53.56%	-14.89%	-38.67%
Max Drawdown (5Y) Largest decline over 5 years	-55.24%	-28.78%	-26.46%
Max Drawdown (10Y) Largest decline over 10 years	-70.67%	—	—
Current Drawdown Current decline from peak	-1.09%	-3.71%	+2.62%
Average Drawdown Average peak-to-trough decline	-32.00%	-12.18%	-19.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	3.32%	+0.96%

Volatility

GLEN.L vs. CMOP.L - Volatility Comparison

Glencore plc (GLEN.L) has a higher volatility of 9.29% compared to Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) at 6.20%. This indicates that GLEN.L's price experiences larger fluctuations and is considered to be riskier than CMOP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLEN.L	CMOP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.29%	6.20%	+3.09%
Volatility (6M) Calculated over the trailing 6-month period	22.62%	16.11%	+6.51%
Volatility (1Y) Calculated over the trailing 1-year period	31.00%	18.36%	+12.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.25%	16.58%	+15.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.72%	15.14%	+20.58%

Dividends

GLEN.L vs. CMOP.L - Dividend Comparison

GLEN.L's dividend yield for the trailing twelve months is around 1.55%, while CMOP.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMOP.L Invesco Bloomberg Commodity UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GLEN.L Glencore plc	1.55%	2.39%	2.86%	8.72%	5.57%	3.08%	6.71%	5.31%	3.85%	1.05%	0.00%	9.87%

Frequently Asked Questions

Can I hold both GLEN.L and CMOP.L in my portfolio?

GLEN.L and CMOP.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.