NICK.L vs. BNQP.DE
NICK.L (WisdomTree Nickel) and BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) are both Metals funds - NICK.L tracks the Bloomberg Nickel while BNQP.DE tracks the RICI Enhanced Copper. Both are passively managed. Over the past 5 years, NICK.L returned -0.66%/yr vs 8.91%/yr for BNQP.DE. At a 0.50 correlation, their price movements are largely independent. NICK.L charges 0.49%/yr vs 1.00%/yr for BNQP.DE.
Performance
NICK.L vs. BNQP.DE - Performance Comparison
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Different Trading Currencies
NICK.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
In the year-to-date period, NICK.L achieves a 10.65% return, which is significantly lower than BNQP.DE's 11.53% return.
NICK.L
- 1D
- -1.03%
- 1M
- -5.12%
- YTD
- 10.65%
- 6M
- 23.90%
- 1Y
- 18.75%
- 3Y*
- -5.71%
- 5Y*
- -0.66%
- 10Y*
- 6.28%
BNQP.DE
- 1D
- 0.84%
- 1M
- 5.36%
- YTD
- 11.53%
- 6M
- 22.91%
- 1Y
- 44.68%
- 3Y*
- 20.67%
- 5Y*
- 8.91%
- 10Y*
- —
NICK.L vs. BNQP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NICK.L WisdomTree Nickel | 10.65% | 6.27% | -8.39% | -46.66% | 46.43% | 23.82% | 14.32% | 32.82% | -14.50% | 18.74% |
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC | 11.53% | 36.51% | 9.79% | 5.41% | -8.51% | 21.25% | 23.32% | 5.14% | -17.20% | 33.16% |
Correlation
The correlation between NICK.L and BNQP.DE is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2016 | 0.50 |
The correlation between NICK.L and BNQP.DE has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.
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Return for Risk
NICK.L vs. BNQP.DE — Risk / Return Rank
NICK.L
BNQP.DE
NICK.L vs. BNQP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Nickel (NICK.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.
| NICK.L | BNQP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.39 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 3.83 | -2.01 |
| Martin ratioReturn relative to average drawdown | 3.88 | 12.90 | -9.02 |
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
| NICK.L | BNQP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 2.25 | -1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.43 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 0.65 | -0.74 |
Drawdowns
NICK.L vs. BNQP.DE - Drawdown Comparison
The maximum NICK.L drawdown since its inception was -87.80%, which is greater than BNQP.DE's maximum drawdown of -35.36%. Use the drawdown chart below to compare losses from any high point for NICK.L and BNQP.DE.
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Drawdown Indicators
| NICK.L | BNQP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.80% | -35.36% | -52.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.26% | -11.62% | +1.36% |
Max Drawdown (3Y)Largest decline over 3 years | -40.82% | -17.26% | -23.56% |
Max Drawdown (5Y)Largest decline over 5 years | -71.83% | -31.23% | -40.60% |
Max Drawdown (10Y)Largest decline over 10 years | -71.83% | — | — |
Current DrawdownCurrent decline from peak | -74.59% | -2.10% | -72.49% |
Average DrawdownAverage peak-to-trough decline | -70.10% | -10.39% | -59.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.80% | 3.45% | +1.35% |
Volatility
NICK.L vs. BNQP.DE - Volatility Comparison
WisdomTree Nickel (NICK.L) and BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) have volatilities of 6.02% and 6.23%, 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.L | BNQP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.02% | 6.23% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 22.98% | 16.24% | +6.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.65% | 19.77% | +4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.13% | 20.59% | +23.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.48% | 19.82% | +16.66% |
NICK.L vs. BNQP.DE - Expense Ratio Comparison
NICK.L has a 0.49% expense ratio, which is lower than BNQP.DE's 1.00% expense ratio.
Dividends
NICK.L vs. BNQP.DE - Dividend Comparison
Neither NICK.L nor BNQP.DE has paid dividends to shareholders.
Frequently Asked Questions
NICK.L and BNQP.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NICK.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NICK.L is cheaper with a 0.49% expense ratio, compared with 1.00% for BNQP.DE.
NICK.L tracks Bloomberg Nickel, while BNQP.DE tracks RICI Enhanced Copper. They also come from different issuers: WisdomTree and BNP Paribas. Their fees differ too: 0.49% for NICK.L and 1.00% for BNQP.DE.
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