ICOM.L vs. COMF.L
ICOM.L (iShares Diversified Commodity Swap UCITS ETF) and COMF.L (L&G Longer Dated All Commodities UCITS ETF) are both Commodities funds - ICOM.L tracks the Bloomberg Commodity (Total Return Index) while COMF.L tracks the Bloomberg Commodity Index 3 Month Forward Total Return. Both are passively managed. Over the past 5 years, ICOM.L returned 10.19%/yr vs 11.24%/yr for COMF.L. Their correlation of 0.95 suggests significant overlap in exposure. ICOM.L charges 0.19%/yr vs 0.30%/yr for COMF.L.
Performance
ICOM.L vs. COMF.L - Performance Comparison
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Returns By Period
In the year-to-date period, ICOM.L achieves a 20.07% return, which is significantly higher than COMF.L's 15.66% return.
ICOM.L
- 1D
- -0.10%
- 1M
- 1.48%
- 6M
- 15.33%
- YTD
- 20.07%
- 1Y
- 30.14%
- 3Y*
- 12.52%
- 5Y*
- 10.19%
- 10Y*
- —
COMF.L
- 1D
- 0.39%
- 1M
- 1.29%
- 6M
- 10.85%
- YTD
- 15.66%
- 1Y
- 24.69%
- 3Y*
- 11.59%
- 5Y*
- 11.24%
- 10Y*
- 8.22%
ICOM.L vs. COMF.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICOM.L iShares Diversified Commodity Swap UCITS ETF | 20.07% | 16.57% | 4.40% | -7.51% | 14.83% | 27.05% | -3.74% | 6.82% | -10.21% | 5.80% |
COMF.L L&G Longer Dated All Commodities UCITS ETF | 15.66% | 16.43% | 5.13% | -6.37% | 18.73% | 32.96% | 2.52% | 7.36% | -8.43% | 6.56% |
Correlation
The correlation between ICOM.L and COMF.L 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 | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | 0.95 |
The correlation between ICOM.L and COMF.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
ICOM.L vs. COMF.L — Risk / Return Rank
ICOM.L
COMF.L
ICOM.L vs. COMF.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (ICOM.L) and L&G Longer Dated All Commodities UCITS ETF (COMF.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.
| ICOM.L | COMF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.32 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 2.00 | +0.09 |
| Martin ratioReturn relative to average drawdown | 6.71 | 6.49 | +0.21 |
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Drawdowns
ICOM.L vs. COMF.L - Drawdown Comparison
The maximum ICOM.L drawdown since its inception was -33.13%, smaller than the maximum COMF.L drawdown of -60.21%. Use the drawdown chart below to compare losses from any high point for ICOM.L and COMF.L.
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Drawdown Indicators
| ICOM.L | COMF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.13% | -60.21% | +27.08% |
Max Drawdown (1Y)Largest decline over 1 year | -14.39% | -12.25% | -2.14% |
Max Drawdown (3Y)Largest decline over 3 years | -14.39% | -12.25% | -2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -26.74% | -22.56% | -4.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.69% | — |
Current DrawdownCurrent decline from peak | -8.81% | -7.09% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -12.41% | -29.36% | +16.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.48% | 3.77% | +0.71% |
Volatility
ICOM.L vs. COMF.L - Volatility Comparison
iShares Diversified Commodity Swap UCITS ETF (ICOM.L) has a higher volatility of 4.69% compared to L&G Longer Dated All Commodities UCITS ETF (COMF.L) at 3.91%. This indicates that ICOM.L's price experiences larger fluctuations and is considered to be riskier than COMF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICOM.L | COMF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 3.91% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 15.21% | 11.59% | +3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.14% | 13.87% | +3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.54% | 14.93% | +1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.97% | 13.28% | +1.69% |
ICOM.L vs. COMF.L - Expense Ratio Comparison
ICOM.L has a 0.19% expense ratio, which is lower than COMF.L's 0.30% expense ratio.
Dividends
ICOM.L vs. COMF.L - Dividend Comparison
Neither ICOM.L nor COMF.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, ICOM.L and COMF.L 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, ICOM.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICOM.L is cheaper with a 0.19% expense ratio, compared with 0.30% for COMF.L.
ICOM.L tracks Bloomberg Commodity (Total Return Index), while COMF.L tracks Bloomberg Commodity Index 3 Month Forward Total Return. They also come from different issuers: iShares and L&G. Their fees differ too: 0.19% for ICOM.L and 0.30% for COMF.L.
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