IJPN.L vs. WCOB.L
IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) and WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) are both exchange-traded funds - IJPN.L is a Japan Equities fund tracking the TOPIX TR JPY, while WCOB.L is a Commodities fund tracking the Optimised Roll Commodity. Both are passively managed. Over the past 5 years, IJPN.L returned 10.52%/yr vs 12.74%/yr for WCOB.L. At a 0.11 correlation, their price movements are largely independent. IJPN.L charges 0.59%/yr vs 0.35%/yr for WCOB.L.
Performance
IJPN.L vs. WCOB.L - Performance Comparison
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Returns By Period
In the year-to-date period, IJPN.L achieves a 16.83% return, which is significantly lower than WCOB.L's 31.29% return.
IJPN.L
- 1D
- -0.35%
- 1M
- 3.86%
- YTD
- 16.83%
- 6M
- 16.00%
- 1Y
- 36.20%
- 3Y*
- 16.17%
- 5Y*
- 10.52%
- 10Y*
- 10.48%
WCOB.L
- 1D
- -1.15%
- 1M
- 0.76%
- YTD
- 31.29%
- 6M
- 30.72%
- 1Y
- 44.44%
- 3Y*
- 13.21%
- 5Y*
- 12.74%
- 10Y*
- —
IJPN.L vs. WCOB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJPN.L iShares MSCI Japan UCITS ETF (Dist) | 16.83% | 18.18% | 9.39% | 14.03% | -7.13% | 2.20% | 12.46% | 14.55% | -8.45% | 6.78% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 31.29% | 7.73% | 4.50% | -12.06% | 25.92% | 28.89% | -3.11% | 3.86% | -3.43% | -3.53% |
Correlation
The correlation between IJPN.L and WCOB.L is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2017 | 0.11 |
The correlation between IJPN.L and WCOB.L shifts across timeframes, from -0.17 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IJPN.L vs. WCOB.L — Risk / Return Rank
IJPN.L
WCOB.L
IJPN.L vs. WCOB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF (Dist) (IJPN.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.
| IJPN.L | WCOB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.46 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 6.47 | -3.25 |
| Martin ratioReturn relative to average drawdown | 10.52 | 16.38 | -5.86 |
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
| IJPN.L | WCOB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 2.57 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.83 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.66 | -0.24 |
Drawdowns
IJPN.L vs. WCOB.L - Drawdown Comparison
The maximum IJPN.L drawdown since its inception was -39.73%, which is greater than WCOB.L's maximum drawdown of -27.14%. Use the drawdown chart below to compare losses from any high point for IJPN.L and WCOB.L.
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Drawdown Indicators
| IJPN.L | WCOB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.73% | -27.14% | -12.59% |
Max Drawdown (1Y)Largest decline over 1 year | -10.80% | -6.98% | -3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -13.74% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -18.57% | -27.14% | +8.57% |
Max Drawdown (10Y)Largest decline over 10 years | -24.34% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | -3.72% | +3.37% |
Average DrawdownAverage peak-to-trough decline | -10.09% | -11.70% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 2.76% | +0.56% |
Volatility
IJPN.L vs. WCOB.L - Volatility Comparison
The current volatility for iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) is 3.88%, while WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) has a volatility of 5.81%. This indicates that IJPN.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
| IJPN.L | WCOB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 5.81% | -1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 15.00% | 15.36% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 17.59% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 15.37% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 15.90% | +0.08% |
IJPN.L vs. WCOB.L - Expense Ratio Comparison
IJPN.L has a 0.59% expense ratio, which is higher than WCOB.L's 0.35% expense ratio.
Dividends
IJPN.L vs. WCOB.L - Dividend Comparison
IJPN.L's dividend yield for the trailing twelve months is around 2.03%, while WCOB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJPN.L iShares MSCI Japan UCITS ETF (Dist) | 2.03% | 2.25% | 1.95% | 1.81% | 2.10% | 1.66% | 1.75% | 1.90% | 1.89% | 1.53% | 1.55% | 0.87% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD 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% |
Frequently Asked Questions
IJPN.L and WCOB.L have a correlation of -0.17, 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 0.59% for IJPN.L.
IJPN.L is categorized as Japan Equities, while WCOB.L is Commodities. IJPN.L tracks TOPIX TR JPY, while WCOB.L tracks Optimised Roll Commodity. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.59% for IJPN.L and 0.35% for WCOB.L.
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