HYEA.L vs. WCOB.L
HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) and WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) are both exchange-traded funds - HYEA.L is a High Yield Bonds fund tracking the ICE BofA Gbl HY Constnd TR USD, while WCOB.L is a Commodities fund tracking the Optimised Roll Commodity. Both are passively managed. Over the past 5 years, HYEA.L returned 3.95%/yr vs 12.59%/yr for WCOB.L. At a 0.17 correlation, their price movements are largely independent. HYEA.L charges 0.50%/yr vs 0.35%/yr for WCOB.L.
Performance
HYEA.L vs. WCOB.L - Performance Comparison
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Different Trading Currencies
HYEA.L is traded in EUR, while WCOB.L is traded in GBp. To make them comparable, the WCOB.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYEA.L achieves a 1.74% return, which is significantly lower than WCOB.L's 32.46% return.
HYEA.L
- 1D
- 0.03%
- 1M
- 0.88%
- YTD
- 1.74%
- 6M
- 1.78%
- 1Y
- 4.39%
- 3Y*
- 6.09%
- 5Y*
- 3.95%
- 10Y*
- —
WCOB.L
- 1D
- -1.24%
- 1M
- -1.50%
- YTD
- 32.46%
- 6M
- 32.88%
- 1Y
- 41.60%
- 3Y*
- 13.03%
- 5Y*
- 12.59%
- 10Y*
- —
HYEA.L vs. WCOB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 1.74% | 1.53% | 9.22% | 9.21% | -6.45% | 8.26% | -1.76% | 14.15% | 0.72% | -1.89% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 32.49% | 2.11% | 9.54% | -10.20% | 19.27% | 37.47% | -7.44% | 9.87% | -5.20% | 0.53% |
Correlation
The correlation between HYEA.L and WCOB.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2017 | 0.17 |
The correlation between HYEA.L and WCOB.L shifts across timeframes, from 0.08 (1 year) to 0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYEA.L vs. WCOB.L — Risk / Return Rank
HYEA.L
WCOB.L
HYEA.L vs. WCOB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) and WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.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.
| HYEA.L | WCOB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.41 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 5.48 | -3.23 |
| Martin ratioReturn relative to average drawdown | 8.04 | 12.64 | -4.60 |
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
| HYEA.L | WCOB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.32 | -1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.80 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.66 | -0.10 |
Drawdowns
HYEA.L vs. WCOB.L - Drawdown Comparison
The maximum HYEA.L drawdown since its inception was -22.34%, smaller than the maximum WCOB.L drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for HYEA.L and WCOB.L.
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Drawdown Indicators
| HYEA.L | WCOB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -25.88% | +3.54% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -7.55% | +5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -6.63% | -13.24% | +6.61% |
Max Drawdown (5Y)Largest decline over 5 years | -9.74% | -25.88% | +16.14% |
Current DrawdownCurrent decline from peak | 0.00% | -3.42% | +3.42% |
Average DrawdownAverage peak-to-trough decline | -2.61% | -12.07% | +9.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 3.28% | -2.75% |
Volatility
HYEA.L vs. WCOB.L - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) is 0.89%, while WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) has a volatility of 6.08%. This indicates that HYEA.L experiences smaller price fluctuations and is considered to be less risky than WCOB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEA.L | WCOB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 6.08% | -5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 15.59% | -13.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 17.83% | -14.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.44% | 15.88% | -10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 16.24% | -9.31% |
HYEA.L vs. WCOB.L - Expense Ratio Comparison
HYEA.L has a 0.50% expense ratio, which is higher than WCOB.L's 0.35% expense ratio.
Dividends
HYEA.L vs. WCOB.L - Dividend Comparison
Neither HYEA.L nor WCOB.L has paid dividends to shareholders.
Frequently Asked Questions
HYEA.L and WCOB.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WCOB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WCOB.L is cheaper with a 0.35% expense ratio, compared with 0.50% for HYEA.L.
HYEA.L is categorized as High Yield Bonds, while WCOB.L is Commodities. HYEA.L tracks ICE BofA Gbl HY Constnd TR USD, while WCOB.L tracks Optimised Roll Commodity. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for HYEA.L and 0.35% for WCOB.L.
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