META.L vs. BNQP.DE
META.L (WisdomTree Industrial Metals Enhanced) and BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) are both Metals funds - META.L tracks the Optimised Roll Industrial Metals while BNQP.DE tracks the RICI Enhanced Copper. Both are passively managed. Over the past 3 years, META.L returned 11.40%/yr vs 20.80%/yr for BNQP.DE. A 0.78 correlation means they provide meaningful diversification when combined. META.L charges 0.40%/yr vs 1.00%/yr for BNQP.DE.
Performance
META.L vs. BNQP.DE - Performance Comparison
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Different Trading Currencies
META.L is traded in USD, while BNQP.DE is traded in EUR. To make them comparable, the BNQP.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with META.L having a 10.73% return and BNQP.DE slightly lower at 10.66%.
META.L
- 1D
- -0.30%
- 1M
- 3.62%
- YTD
- 10.73%
- 6M
- 17.26%
- 1Y
- 30.93%
- 3Y*
- 11.40%
- 5Y*
- —
- 10Y*
- —
BNQP.DE
- 1D
- -1.64%
- 1M
- 5.71%
- YTD
- 10.66%
- 6M
- 21.45%
- 1Y
- 43.49%
- 3Y*
- 20.80%
- 5Y*
- 8.74%
- 10Y*
- —
META.L vs. BNQP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
META.L WisdomTree Industrial Metals Enhanced | 10.73% | 16.98% | 3.79% | -8.15% | 16.29% |
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC | 10.59% | 36.51% | 9.79% | 5.41% | 17.36% |
Correlation
The correlation between META.L and BNQP.DE is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | 0.78 |
The correlation between META.L and BNQP.DE has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
META.L vs. BNQP.DE — Risk / Return Rank
META.L
BNQP.DE
META.L vs. BNQP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Industrial Metals Enhanced (META.L) and BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE). 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.
| META.L | BNQP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.39 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 3.73 | -0.31 |
| Martin ratioReturn relative to average drawdown | 12.10 | 12.56 | -0.47 |
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
| META.L | BNQP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 2.19 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.65 | -0.09 |
Drawdowns
META.L vs. BNQP.DE - Drawdown Comparison
The maximum META.L drawdown since its inception was -20.21%, smaller than the maximum BNQP.DE drawdown of -35.36%. Use the drawdown chart below to compare losses from any high point for META.L and BNQP.DE.
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Drawdown Indicators
| META.L | BNQP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.21% | -35.36% | +15.15% |
Max Drawdown (1Y)Largest decline over 1 year | -9.01% | -11.62% | +2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -20.21% | -17.26% | -2.95% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.23% | — |
Current DrawdownCurrent decline from peak | -1.41% | -2.87% | +1.46% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -10.39% | +0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 3.45% | -0.90% |
Volatility
META.L vs. BNQP.DE - Volatility Comparison
The current volatility for WisdomTree Industrial Metals Enhanced (META.L) is 4.42%, while BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) has a volatility of 6.41%. This indicates that META.L experiences smaller price fluctuations and is considered to be less risky than BNQP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| META.L | BNQP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 6.41% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 12.91% | 16.35% | -3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.22% | 19.75% | -4.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 20.60% | -3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 19.82% | -2.28% |
META.L vs. BNQP.DE - Expense Ratio Comparison
META.L has a 0.40% expense ratio, which is lower than BNQP.DE's 1.00% expense ratio.
Dividends
META.L vs. BNQP.DE - Dividend Comparison
Neither META.L nor BNQP.DE has paid dividends to shareholders.
Frequently Asked Questions
META.L and BNQP.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, META.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
META.L is cheaper with a 0.40% expense ratio, compared with 1.00% for BNQP.DE.
META.L tracks Optimised Roll Industrial Metals, while BNQP.DE tracks RICI Enhanced Copper. They also come from different issuers: WisdomTree and BNP Paribas. Their fees differ too: 0.40% for META.L and 1.00% for BNQP.DE.
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