NGAS.L vs. WCOG.L
NGAS.L (WisdomTree Natural Gas ETF) and WCOG.L (WisdomTree Enhanced Commodity UCITS ETF USD) are both Commodities funds from WisdomTree - NGAS.L tracks the Bloomberg Natural Gas Sub Total Return Index while WCOG.L tracks the Optimised Roll Commodity. Both are passively managed. Over the past 10 years, NGAS.L returned -23.35%/yr vs 8.26%/yr for WCOG.L. At a 0.25 correlation, their price movements are largely independent. NGAS.L charges 0.49%/yr vs 0.35%/yr for WCOG.L.
Performance
NGAS.L vs. WCOG.L - Performance Comparison
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Different Trading Currencies
NGAS.L is traded in USD, while WCOG.L is traded in GBp. To make them comparable, the WCOG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NGAS.L achieves a -11.49% return, which is significantly lower than WCOG.L's 32.43% return. Over the past 10 years, NGAS.L has underperformed WCOG.L with an annualized return of -23.35%, while WCOG.L has yielded a comparatively higher 8.26% annualized return.
NGAS.L
- 1D
- 2.07%
- 1M
- 4.84%
- YTD
- -11.49%
- 6M
- -29.61%
- 1Y
- -36.85%
- 3Y*
- -25.66%
- 5Y*
- -25.67%
- 10Y*
- -23.35%
WCOG.L
- 1D
- 0.70%
- 1M
- -0.34%
- YTD
- 32.43%
- 6M
- 33.67%
- 1Y
- 45.57%
- 3Y*
- 16.86%
- 5Y*
- 11.80%
- 10Y*
- 8.26%
NGAS.L vs. WCOG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NGAS.L WisdomTree Natural Gas ETF | -11.49% | -24.72% | -26.18% | -65.28% | 20.27% | 25.42% | -43.27% | -40.74% | 2.93% | -37.77% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 32.43% | 16.09% | 2.71% | -7.51% | 12.84% | 27.21% | 0.92% | 7.21% | -9.13% | 4.80% |
Correlation
The correlation between NGAS.L and WCOG.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.25 |
The correlation between NGAS.L and WCOG.L shifts across timeframes, from 0.17 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NGAS.L vs. WCOG.L — Risk / Return Rank
NGAS.L
WCOG.L
NGAS.L vs. WCOG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Natural Gas ETF (NGAS.L) and WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.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.
| NGAS.L | WCOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.32 | ||
| Sortino ratioReturn per unit of downside risk | -4.05 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.47 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 7.71 | -8.48 |
| Martin ratioReturn relative to average drawdown | -1.11 | 17.30 | -18.41 |
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
| NGAS.L | WCOG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 2.65 | -3.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.75 | -1.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.46 | 0.60 | -1.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.62 | -1.21 |
Drawdowns
NGAS.L vs. WCOG.L - Drawdown Comparison
The maximum NGAS.L drawdown since its inception was -99.91%, which is greater than WCOG.L's maximum drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for NGAS.L and WCOG.L.
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Drawdown Indicators
| NGAS.L | WCOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.91% | -28.45% | -71.46% |
Max Drawdown (1Y)Largest decline over 1 year | -47.73% | -5.88% | -41.85% |
Max Drawdown (3Y)Largest decline over 3 years | -70.31% | -9.71% | -60.60% |
Max Drawdown (5Y)Largest decline over 5 years | -93.13% | -24.47% | -68.66% |
Max Drawdown (10Y)Largest decline over 10 years | -94.91% | -28.45% | -66.46% |
Current DrawdownCurrent decline from peak | -99.91% | -2.81% | -97.10% |
Average DrawdownAverage peak-to-trough decline | -89.09% | -10.17% | -78.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.25% | 2.63% | +30.62% |
Volatility
NGAS.L vs. WCOG.L - Volatility Comparison
WisdomTree Natural Gas ETF (NGAS.L) has a higher volatility of 11.19% compared to WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) at 6.19%. This indicates that NGAS.L's price experiences larger fluctuations and is considered to be riskier than WCOG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NGAS.L | WCOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.19% | 6.19% | +5.00% |
Volatility (6M)Calculated over the trailing 6-month period | 47.23% | 15.34% | +31.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.38% | 17.10% | +38.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.00% | 15.66% | +43.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.65% | 13.68% | +36.97% |
NGAS.L vs. WCOG.L - Expense Ratio Comparison
NGAS.L has a 0.49% expense ratio, which is higher than WCOG.L's 0.35% expense ratio.
Dividends
NGAS.L vs. WCOG.L - Dividend Comparison
NGAS.L has not paid dividends to shareholders, while WCOG.L's dividend yield for the trailing twelve months is around 2.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NGAS.L WisdomTree Natural Gas ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 2.64% | 4.56% | 4.54% | 0.65% | 0.00% | 0.30% | 1.64% | 1.64% | 0.46% |
Frequently Asked Questions
NGAS.L and WCOG.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, WCOG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WCOG.L is cheaper with a 0.35% expense ratio, compared with 0.49% for NGAS.L.
NGAS.L tracks Bloomberg Natural Gas Sub Total Return Index, while WCOG.L tracks Optimised Roll Commodity. Their fees differ too: 0.49% for NGAS.L and 0.35% for WCOG.L.
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