ICOM.L vs. GDIG.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Diversified Commodity Swap UCITS ETF (ICOM.L) and VanEck S&P Global Mining UCITS ETF (GDIG.L).

ICOM.L and GDIG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICOM.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Commodity (Total Return Index). It was launched on Jul 18, 2017. GDIG.L is a passively managed fund by VanEck that tracks the performance of the S&P Global Mining Reduced Coal Index. It was launched on Apr 18, 2018. Both ICOM.L and GDIG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ICOM.L vs. GDIG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Diversified Commodity Swap UCITS ETF (ICOM.L) and VanEck S&P Global Mining UCITS ETF (GDIG.L). The values are adjusted to include any dividend payments, if applicable.

ICOM.L vs. GDIG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ICOM.L iShares Diversified Commodity Swap UCITS ETF	22.93%	16.45%	5.07%	-8.06%	14.83%	27.05%	-3.74%	6.75%	-11.84%
GDIG.L VanEck S&P Global Mining UCITS ETF	16.01%	90.59%	-8.68%	4.57%	3.63%	7.14%	31.37%	25.35%	-14.38%

Returns By Period

In the year-to-date period, ICOM.L achieves a 22.93% return, which is significantly higher than GDIG.L's 16.01% return.

ICOM.L

• 1D: -1.35%
• 1M: 8.93%
• YTD: 22.93%
• 6M: 30.67%
• 1Y: 30.93%
• 3Y*: 13.52%
• 5Y*: 13.50%
• 10Y*: —

GDIG.L

• 1D: 6.60%
• 1M: -11.75%
• YTD: 16.01%
• 6M: 34.46%
• 1Y: 98.90%
• 3Y*: 27.03%
• 5Y*: 17.51%
• 10Y*: —

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

ICOM.L vs. GDIG.L - Expense Ratio Comparison

ICOM.L has a 0.19% expense ratio, which is lower than GDIG.L's 0.50% expense ratio.

GDIG.L

VanEck S&P Global Mining UCITS ETF

ICOM.L

iShares Diversified Commodity Swap UCITS ETF

Return for Risk

ICOM.L vs. GDIG.L — Risk / Return Rank

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

ICOM.L

ICOM.L Risk / Return Rank: 87
ICOM.L Sharpe Ratio Rank: 87
ICOM.L Sortino Ratio Rank: 87
ICOM.L Omega Ratio Rank: 85
ICOM.L Calmar Ratio Rank: 95
ICOM.L Martin Ratio Rank: 81

GDIG.L

GDIG.L Risk / Return Rank: 95
GDIG.L Sharpe Ratio Rank: 97
GDIG.L Sortino Ratio Rank: 95
GDIG.L Omega Ratio Rank: 93
GDIG.L Calmar Ratio Rank: 94
GDIG.L Martin Ratio Rank: 95

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.

ICOM.L vs. GDIG.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 VanEck S&P Global Mining UCITS ETF (GDIG.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.

	ICOM.L	GDIG.L	Difference
Sharpe ratio Return per unit of total volatility	1.90	2.84	-0.94
Sortino ratio Return per unit of downside risk	2.48	3.19	-0.71
Omega ratio Gain probability vs. loss probability	1.36	1.44	-0.08
Calmar ratio Return relative to maximum drawdown	4.30	4.17	+0.12
Martin ratio Return relative to average drawdown	10.16	16.96	-6.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICOM.L vs. GDIG.L - Sharpe Ratio Comparison

The current ICOM.L Sharpe Ratio is 1.90, which is lower than the GDIG.L Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of ICOM.L and GDIG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ICOM.L	GDIG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.84	-0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.57	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.55	+0.01

Correlation

The correlation between ICOM.L and GDIG.L is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ICOM.L vs. GDIG.L - Dividend Comparison

Neither ICOM.L nor GDIG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ICOM.L vs. GDIG.L - Drawdown Comparison

The maximum ICOM.L drawdown since its inception was -33.13%, smaller than the maximum GDIG.L drawdown of -40.03%. Use the drawdown chart below to compare losses from any high point for ICOM.L and GDIG.L.

Drawdown Indicators

	ICOM.L	GDIG.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.13%	-40.03%	+6.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-24.08%	+15.22%
Max Drawdown (5Y) Largest decline over 5 years	-26.74%	-40.03%	+13.29%
Current Drawdown Current decline from peak	-1.35%	-12.40%	+11.05%
Average Drawdown Average peak-to-trough decline	-13.08%	-12.75%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	5.93%	-2.89%

Volatility

ICOM.L vs. GDIG.L - Volatility Comparison

The current volatility for iShares Diversified Commodity Swap UCITS ETF (ICOM.L) is 7.29%, while VanEck S&P Global Mining UCITS ETF (GDIG.L) has a volatility of 15.29%. This indicates that ICOM.L experiences smaller price fluctuations and is considered to be less risky than GDIG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICOM.L	GDIG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	15.29%	-8.00%
Volatility (6M) Calculated over the trailing 6-month period	13.15%	29.11%	-15.96%
Volatility (1Y) Calculated over the trailing 1-year period	16.24%	34.70%	-18.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	30.92%	-14.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.07%	29.74%	-14.67%