IOGP.L vs. CMOD.L
IOGP.L (iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc)) and CMOD.L (Invesco Bloomberg Commodity UCITS ETF) are both exchange-traded funds - IOGP.L is a Oil & Gas fund tracking the S&P Commodity Producers Oil & Gas Exploration & Production Index, while CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index. Both are passively managed. Over the past 5 years, IOGP.L returned 16.29%/yr vs 11.19%/yr for CMOD.L. A 0.60 correlation means they provide meaningful diversification when combined. IOGP.L charges 0.55%/yr vs 0.19%/yr for CMOD.L.
Performance
IOGP.L vs. CMOD.L - Performance Comparison
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Returns By Period
In the year-to-date period, IOGP.L achieves a 28.57% return, which is significantly higher than CMOD.L's 26.36% return.
IOGP.L
- 1D
- 2.02%
- 1M
- -2.81%
- YTD
- 28.57%
- 6M
- 24.95%
- 1Y
- 36.79%
- 3Y*
- 14.41%
- 5Y*
- 16.29%
- 10Y*
- 7.46%
CMOD.L
- 1D
- 0.44%
- 1M
- -1.74%
- YTD
- 26.36%
- 6M
- 25.60%
- 1Y
- 39.19%
- 3Y*
- 16.17%
- 5Y*
- 11.19%
- 10Y*
- —
IOGP.L vs. CMOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IOGP.L iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) | 28.57% | 6.29% | -0.90% | 2.72% | 37.88% | 67.23% | -31.61% | 8.06% | -21.55% | -3.78% |
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 26.36% | 16.16% | 4.13% | -7.56% | 14.50% | 27.35% | -3.87% | 6.64% | -10.22% | 0.08% |
Correlation
The correlation between IOGP.L and CMOD.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2017 | 0.60 |
The correlation between IOGP.L and CMOD.L has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.
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Return for Risk
IOGP.L vs. CMOD.L — Risk / Return Rank
IOGP.L
CMOD.L
IOGP.L vs. CMOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.L) and Invesco Bloomberg Commodity UCITS ETF (CMOD.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.
| IOGP.L | CMOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.43 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 5.35 | -2.98 |
| Martin ratioReturn relative to average drawdown | 6.32 | 12.47 | -6.16 |
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
| IOGP.L | CMOD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 2.33 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.68 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.48 | -0.41 |
Drawdowns
IOGP.L vs. CMOD.L - Drawdown Comparison
The maximum IOGP.L drawdown since its inception was -83.56%, which is greater than CMOD.L's maximum drawdown of -33.16%. Use the drawdown chart below to compare losses from any high point for IOGP.L and CMOD.L.
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Drawdown Indicators
| IOGP.L | CMOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.56% | -33.16% | -50.40% |
Max Drawdown (1Y)Largest decline over 1 year | -15.44% | -7.30% | -8.14% |
Max Drawdown (3Y)Largest decline over 3 years | -27.14% | -11.66% | -15.48% |
Max Drawdown (5Y)Largest decline over 5 years | -32.41% | -26.86% | -5.55% |
Max Drawdown (10Y)Largest decline over 10 years | -74.37% | — | — |
Current DrawdownCurrent decline from peak | -8.38% | -4.16% | -4.22% |
Average DrawdownAverage peak-to-trough decline | -35.25% | -12.29% | -22.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.81% | 3.13% | +2.68% |
Volatility
IOGP.L vs. CMOD.L - Volatility Comparison
iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.L) has a higher volatility of 8.37% compared to Invesco Bloomberg Commodity UCITS ETF (CMOD.L) at 5.49%. This indicates that IOGP.L's price experiences larger fluctuations and is considered to be riskier than CMOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IOGP.L | CMOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 5.49% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 20.52% | 14.87% | +5.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.66% | 16.73% | +7.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.34% | 16.57% | +13.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.81% | 14.68% | +18.13% |
IOGP.L vs. CMOD.L - Expense Ratio Comparison
IOGP.L has a 0.55% expense ratio, which is higher than CMOD.L's 0.19% expense ratio.
Dividends
IOGP.L vs. CMOD.L - Dividend Comparison
Neither IOGP.L nor CMOD.L has paid dividends to shareholders.
Frequently Asked Questions
IOGP.L and CMOD.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMOD.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOD.L is cheaper with a 0.19% expense ratio, compared with 0.55% for IOGP.L.
IOGP.L is categorized as Oil & Gas, while CMOD.L is Commodities. IOGP.L tracks S&P Commodity Producers Oil & Gas Exploration & Production Index, while CMOD.L tracks Bloomberg Commodity TR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.55% for IOGP.L and 0.19% for CMOD.L.
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