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NICK.L vs. ALUM.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NICK.L vs. ALUM.L

Last updated Jun 4, 2026

NICK.L (WisdomTree Nickel) and ALUM.L (WisdomTree Aluminium) are both Metals funds from WisdomTree - NICK.L tracks the Bloomberg Nickel while ALUM.L tracks the Bloomberg Aluminum. Both are passively managed. Over the past 10 years, NICK.L returned 6.61%/yr vs 6.87%/yr for ALUM.L. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.

Performance

NICK.L vs. ALUM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Nickel (NICK.L) and WisdomTree Aluminium (ALUM.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NICK.L achieves a 11.81% return, which is significantly lower than ALUM.L's 27.03% return. Both investments have delivered pretty close results over the past 10 years, with NICK.L having a 6.61% annualized return and ALUM.L not far ahead at 6.87%.

NICK.L

1D
-1.98%
1M
-3.03%
YTD
11.81%
6M
25.29%
1Y
19.58%
3Y*
-5.79%
5Y*
-0.45%
10Y*
6.61%

ALUM.L

1D
-1.51%
1M
5.60%
YTD
27.03%
6M
30.54%
1Y
54.71%
3Y*
17.31%
5Y*
7.60%
10Y*
6.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NICK.L vs. ALUM.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NICK.L
WisdomTree Nickel		11.81%6.27%-8.39%-46.66%46.43%23.82%14.32%32.82%-14.50%18.74%
ALUM.L
WisdomTree Aluminium		27.03%17.98%4.62%-4.48%-15.92%38.11%1.95%-3.12%-18.30%29.16%

Correlation

The correlation between NICK.L and ALUM.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Sep 29, 2006

0.41

NICK.L vs. ALUM.L - Sectors Allocation Comparison

Sectors
NICK.L
ALUM.L

Basic Materials

100.0%
100.0%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

NICK.L
100.0%
ALUM.L
100.0%

Communication Services

NICK.L

-

ALUM.L

-

Consumer Cyclical

NICK.L

-

ALUM.L

-

Consumer Defensive

NICK.L

-

ALUM.L

-

Energy

NICK.L

-

ALUM.L

-

Financial Services

NICK.L

-

ALUM.L

-

Healthcare

NICK.L

-

ALUM.L

-

Industrials

NICK.L

-

ALUM.L

-

Real Estate

NICK.L

-

ALUM.L

-

Technology

NICK.L

-

ALUM.L

-

Utilities

NICK.L

-

ALUM.L

-

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WisdomTree Nickel

WisdomTree Aluminium

Often compared with NICK.L:
NICK.L vs. NOBLNICK.L vs. SPYNICK.L vs. TLTNICK.L vs. META.LNICK.L vs. XRH0.LNICK.L vs. AMPS.LNICK.L vs. FIND.L
Often compared with ALUM.L:
ALUM.L vs. ^GSPCALUM.L vs. TQQQALUM.L vs. AMPS.LALUM.L vs. FIND.LALUM.L vs. AIGI.LALUM.L vs. META.LALUM.L vs. ZINC.L

Return for Risk

NICK.L vs. ALUM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NICK.L
NICK.L Risk / Return Rank: 2828
Overall Rank
NICK.L Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
NICK.L Sortino Ratio Rank: 2525
Sortino Ratio Rank
NICK.L Omega Ratio Rank: 2626
Omega Ratio Rank
NICK.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
NICK.L Martin Ratio Rank: 2828
Martin Ratio Rank
ALUM.L
ALUM.L Risk / Return Rank: 8989
Overall Rank
ALUM.L Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
ALUM.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
ALUM.L Omega Ratio Rank: 8484
Omega Ratio Rank
ALUM.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
ALUM.L Martin Ratio Rank: 9191
Martin Ratio Rank
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.

NICK.L vs. ALUM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Nickel (NICK.L) and WisdomTree Aluminium (ALUM.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.

NICK.LALUM.LDifference
Sharpe ratioReturn per unit of total volatility
0.79
3.00

-2.21

Sortino ratioReturn per unit of downside risk
1.37
4.05

-2.68

Omega ratioGain probability vs. loss probability

1.17

1.51

-0.33

Calmar ratioReturn relative to maximum drawdown

1.90

6.15

-4.25

Martin ratioReturn relative to average drawdown

4.06

21.98

-17.92

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NICK.L vs. ALUM.L - Sharpe Ratio Comparison

The current NICK.L Sharpe Ratio is 0.79, which is lower than the ALUM.L Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of NICK.L and ALUM.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.

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Sharpe Ratios by Period

NICK.LALUM.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.79

3.00

-2.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.01

0.33

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.18

0.34

-0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.09

-0.11

+0.02

Drawdowns

NICK.L vs. ALUM.L - Drawdown Comparison

The maximum NICK.L drawdown since its inception was -87.80%, which is greater than ALUM.L's maximum drawdown of -77.63%. Use the drawdown chart below to compare losses from any high point for NICK.L and ALUM.L.

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Drawdown Indicators

NICK.LALUM.LDifference

Max Drawdown

Largest peak-to-trough decline

-87.80%

-77.63%

-10.17%

Max Drawdown (1Y)

Largest decline over 1 year

-10.26%

-8.86%

-1.40%

Max Drawdown (3Y)

Largest decline over 3 years

-40.82%

-20.63%

-20.19%

Max Drawdown (5Y)

Largest decline over 5 years

-71.83%

-47.34%

-24.49%

Max Drawdown (10Y)

Largest decline over 10 years

-71.83%

-47.34%

-24.49%

Current Drawdown

Current decline from peak

-74.33%

-48.81%

-25.52%

Average Drawdown

Average peak-to-trough decline

-70.10%

-58.60%

-11.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.81%

2.48%

+2.33%

Volatility

NICK.L vs. ALUM.L - Volatility Comparison

WisdomTree Nickel (NICK.L) and WisdomTree Aluminium (ALUM.L) have volatilities of 6.11% and 6.24%, 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

NICK.LALUM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.11%

6.24%

-0.13%

Volatility (6M)

Calculated over the trailing 6-month period

22.95%

15.66%

+7.29%

Volatility (1Y)

Calculated over the trailing 1-year period

24.64%

18.16%

+6.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

44.13%

22.80%

+21.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.48%

20.01%

+16.47%

NICK.L vs. ALUM.L - Expense Ratio Comparison

Both NICK.L and ALUM.L have an expense ratio of 0.49%.

Dividends

NICK.L vs. ALUM.L - Dividend Comparison

Neither NICK.L nor ALUM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

NICK.L and ALUM.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

NICK.L and ALUM.L have the same expense ratio: 0.49% per year.

NICK.L tracks Bloomberg Nickel, while ALUM.L tracks Bloomberg Aluminum.

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