META.L vs. BNQV.DE
META.L (WisdomTree Industrial Metals Enhanced) and BNQV.DE (BNPP RICI Enhanced Industriemetalle (TR) ETC) are both Metals funds - META.L tracks the Optimised Roll Industrial Metals while BNQV.DE tracks the RICI Enhanced Industrial Metals. Both are passively managed. Over the past 3 years, META.L returned 11.40%/yr vs 14.37%/yr for BNQV.DE. Their correlation of 0.86 suggests significant overlap in exposure. META.L charges 0.40%/yr vs 1.00%/yr for BNQV.DE.
Performance
META.L vs. BNQV.DE - Performance Comparison
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Different Trading Currencies
META.L is traded in USD, while BNQV.DE is traded in EUR. To make them comparable, the BNQV.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, META.L achieves a 10.73% return, which is significantly lower than BNQV.DE's 12.65% return.
META.L
- 1D
- -0.30%
- 1M
- 3.62%
- YTD
- 10.73%
- 6M
- 17.26%
- 1Y
- 30.93%
- 3Y*
- 11.40%
- 5Y*
- —
- 10Y*
- —
BNQV.DE
- 1D
- -0.28%
- 1M
- 3.84%
- YTD
- 12.65%
- 6M
- 17.49%
- 1Y
- 32.99%
- 3Y*
- 14.37%
- 5Y*
- 7.90%
- 10Y*
- —
META.L vs. BNQV.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% |
BNQV.DE BNPP RICI Enhanced Industriemetalle (TR) ETC | 12.65% | 18.99% | 6.16% | -3.24% | 15.81% |
Correlation
The correlation between META.L and BNQV.DE is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | 0.86 |
The correlation between META.L and BNQV.DE has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.
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Return for Risk
META.L vs. BNQV.DE — Risk / Return Rank
META.L
BNQV.DE
META.L vs. BNQV.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 Enhanced Industriemetalle (TR) ETC (BNQV.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 | BNQV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.39 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 3.59 | -0.17 |
| Martin ratioReturn relative to average drawdown | 12.10 | 12.93 | -0.84 |
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 | BNQV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 2.21 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.47 | +0.09 |
Drawdowns
META.L vs. BNQV.DE - Drawdown Comparison
The maximum META.L drawdown since its inception was -20.21%, smaller than the maximum BNQV.DE drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for META.L and BNQV.DE.
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Drawdown Indicators
| META.L | BNQV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.21% | -38.67% | +18.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.01% | -9.15% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -20.21% | -16.64% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.67% | — |
Current DrawdownCurrent decline from peak | -1.41% | -1.71% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -16.31% | +6.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 2.54% | +0.01% |
Volatility
META.L vs. BNQV.DE - Volatility Comparison
WisdomTree Industrial Metals Enhanced (META.L) and BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE) have volatilities of 4.42% and 4.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| META.L | BNQV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 4.62% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 12.91% | 12.65% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.22% | 14.85% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 19.38% | -1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 17.58% | -0.04% |
META.L vs. BNQV.DE - Expense Ratio Comparison
META.L has a 0.40% expense ratio, which is lower than BNQV.DE's 1.00% expense ratio.
Dividends
META.L vs. BNQV.DE - Dividend Comparison
Neither META.L nor BNQV.DE has paid dividends to shareholders.
Frequently Asked Questions
META.L and BNQV.DE have a correlation of 0.85, 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 BNQV.DE.
META.L tracks Optimised Roll Industrial Metals, while BNQV.DE tracks RICI Enhanced Industrial Metals. They also come from different issuers: WisdomTree and BNP Paribas. Their fees differ too: 0.40% for META.L and 1.00% for BNQV.DE.
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