IWFQ.L vs. COMM.L

Last updated Jun 5, 2026

IWFQ.L (iShares MSCI World Quality Factor UCITS) and COMM.L (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - IWFQ.L is a Global Equities fund tracking the MSCI ACWI NR USD, while COMM.L is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 5 years, IWFQ.L returned 11.52%/yr vs 12.23%/yr for COMM.L. At a 0.24 correlation, their price movements are largely independent. IWFQ.L charges 0.30%/yr vs 0.19%/yr for COMM.L.

Performance

IWFQ.L vs. COMM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI World Quality Factor UCITS (IWFQ.L) and iShares Diversified Commodity Swap UCITS ETF (COMM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWFQ.L achieves a 8.70% return, which is significantly lower than COMM.L's 24.65% return.

IWFQ.L

• 1D: 0.95%
• 1M: 3.22%
• YTD: 8.70%
• 6M: 8.62%
• 1Y: 22.16%
• 3Y*: 15.22%
• 5Y*: 11.52%
• 10Y*: 13.14%

COMM.L

• 1D: -1.46%
• 1M: -0.20%
• YTD: 24.65%
• 6M: 21.79%
• 1Y: 38.34%
• 3Y*: 12.58%
• 5Y*: 12.23%
• 10Y*: —

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

IWFQ.L vs. COMM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWFQ.L iShares MSCI World Quality Factor UCITS	8.70%	7.40%	18.93%	19.15%	-9.55%	25.17%	10.93%	25.86%	-2.34%	5.06%
COMM.L iShares Diversified Commodity Swap UCITS ETF	24.65%	8.53%	6.19%	-12.55%	28.34%	29.04%	-7.09%	2.79%	-4.51%	0.62%

Correlation

The correlation between IWFQ.L and COMM.L is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Aug 23, 2017	0.24

The correlation between IWFQ.L and COMM.L shifts across timeframes, from -0.15 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

IWFQ.L vs. COMM.L - Sectors Allocation Comparison

Sectors	IWFQ.L	COMM.L
Technology	32.2%	5.6%
Financial Services	14.1%	17.8%
Industrials	9.8%	-
Healthcare	9.4%	-
Communication Services	9.1%	12.3%
Consumer Cyclical	8.8%	12.9%
Consumer Defensive	5.1%	9.7%
Energy	4.2%	-
Basic Materials	3.3%	35.8%
Utilities	2.5%	-
Real Estate	1.7%	5.8%

Return for Risk

IWFQ.L vs. COMM.L — Risk / Return Rank

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

IWFQ.L

IWFQ.L Risk / Return Rank: 70
IWFQ.L Sharpe Ratio Rank: 70
IWFQ.L Sortino Ratio Rank: 72
IWFQ.L Omega Ratio Rank: 73
IWFQ.L Calmar Ratio Rank: 64
IWFQ.L Martin Ratio Rank: 72

COMM.L

COMM.L Risk / Return Rank: 67
COMM.L Sharpe Ratio Rank: 64
COMM.L Sortino Ratio Rank: 53
COMM.L Omega Ratio Rank: 65
COMM.L Calmar Ratio Rank: 88
COMM.L Martin Ratio Rank: 65

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.

IWFQ.L vs. COMM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Quality Factor UCITS (IWFQ.L) and iShares Diversified Commodity Swap UCITS ETF (COMM.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.

	IWFQ.L	COMM.L	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.09	+0.18
Sortino ratio: Return per unit of downside risk	3.21	2.55	+0.66
Omega ratio: Gain probability vs. loss probability	1.43	1.38	+0.05
Calmar ratio: Return relative to maximum drawdown	3.15	5.18	-2.03
Martin ratio: Return relative to average drawdown	13.27	11.78	+1.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWFQ.L vs. COMM.L - Sharpe Ratio Comparison

The current IWFQ.L Sharpe Ratio is 2.26, which is comparable to the COMM.L Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of IWFQ.L and COMM.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IWFQ.L	COMM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.09	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.74	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.51	+0.38

Drawdowns

IWFQ.L vs. COMM.L - Drawdown Comparison

The maximum IWFQ.L drawdown since its inception was -23.91%, smaller than the maximum COMM.L drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for IWFQ.L and COMM.L.

Drawdown Indicators

	IWFQ.L	COMM.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.91%	-28.49%	+4.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-7.49%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-17.96%	-14.73%	-3.23%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-28.49%	+10.53%
Max Drawdown (10Y) Largest decline over 10 years	-23.91%	—	—
Current Drawdown Current decline from peak	0.00%	-5.17%	+5.17%
Average Drawdown Average peak-to-trough decline	-3.62%	-12.15%	+8.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	3.30%	-1.63%

Volatility

IWFQ.L vs. COMM.L - Volatility Comparison

The current volatility for iShares MSCI World Quality Factor UCITS (IWFQ.L) is 2.56%, while iShares Diversified Commodity Swap UCITS ETF (COMM.L) has a volatility of 6.19%. This indicates that IWFQ.L experiences smaller price fluctuations and is considered to be less risky than COMM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWFQ.L	COMM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	6.19%	-3.63%
Volatility (6M) Calculated over the trailing 6-month period	7.09%	16.45%	-9.36%
Volatility (1Y) Calculated over the trailing 1-year period	9.75%	18.59%	-8.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.36%	16.51%	-3.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.35%	15.38%	-1.03%

IWFQ.L vs. COMM.L - Expense Ratio Comparison

IWFQ.L has a 0.30% expense ratio, which is higher than COMM.L's 0.19% expense ratio.

Dividends

IWFQ.L vs. COMM.L - Dividend Comparison

Neither IWFQ.L nor COMM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IWFQ.L and COMM.L in my portfolio?

IWFQ.L and COMM.L have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWFQ.L or COMM.L?

On fees, COMM.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IWFQ.L or COMM.L?

COMM.L is cheaper with a 0.19% expense ratio, compared with 0.30% for IWFQ.L.

What is the main difference between IWFQ.L and COMM.L?

IWFQ.L is categorized as Global Equities, while COMM.L is Commodities. IWFQ.L tracks MSCI ACWI NR USD, while COMM.L tracks Bloomberg Commodity. Their fees differ too: 0.30% for IWFQ.L and 0.19% for COMM.L.