NICK.L vs. SUGA.L
NICK.L (WisdomTree Nickel) and SUGA.L (WisdomTree Sugar) are both exchange-traded funds - NICK.L is a Metals fund tracking the Bloomberg Nickel, while SUGA.L is a Agricultural Commodities fund tracking the Bloomberg Sugar. Both are passively managed. Over the past 10 years, NICK.L returned 4.78%/yr vs -3.43%/yr for SUGA.L. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.
Performance
NICK.L vs. SUGA.L - Performance Comparison
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Returns By Period
In the year-to-date period, NICK.L achieves a -0.34% return, which is significantly higher than SUGA.L's -7.50% return. Over the past 10 years, NICK.L has outperformed SUGA.L with an annualized return of 4.78%, while SUGA.L has yielded a comparatively lower -3.43% annualized return.
NICK.L
- 1D
- -2.13%
- 1M
- -11.29%
- YTD
- -0.34%
- 6M
- 5.38%
- 1Y
- 10.37%
- 3Y*
- -9.21%
- 5Y*
- -3.12%
- 10Y*
- 4.78%
SUGA.L
- 1D
- 0.44%
- 1M
- -7.50%
- YTD
- -7.50%
- 6M
- -9.33%
- 1Y
- -17.52%
- 3Y*
- -13.14%
- 5Y*
- 0.88%
- 10Y*
- -3.43%
NICK.L vs. SUGA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NICK.L WisdomTree Nickel | -0.34% | 6.27% | -8.39% | -46.64% | 46.43% | 23.82% | 14.32% | 32.78% | -14.51% | 18.82% |
SUGA.L WisdomTree Sugar | -7.50% | -17.47% | -5.30% | 23.28% | 11.54% | 23.41% | 6.59% | -0.53% | -24.60% | -27.09% |
Correlation
The correlation between NICK.L and SUGA.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.18 |
The correlation between NICK.L and SUGA.L shifts across timeframes, from 0.07 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NICK.L vs. SUGA.L — Risk / Return Rank
NICK.L
SUGA.L
NICK.L vs. SUGA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Nickel (NICK.L) and WisdomTree Sugar (SUGA.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NICK.L | SUGA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.90 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | -0.78 | +1.50 |
| Martin ratioReturn relative to average drawdown | 1.96 | -1.25 | +3.22 |
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Drawdowns
NICK.L vs. SUGA.L - Drawdown Comparison
The maximum NICK.L drawdown since its inception was -81.25%, roughly equal to the maximum SUGA.L drawdown of -83.70%. Use the drawdown chart below to compare losses from any high point for NICK.L and SUGA.L.
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Drawdown Indicators
| NICK.L | SUGA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.25% | -83.70% | +2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -14.49% | -22.27% | +7.78% |
Max Drawdown (3Y)Largest decline over 3 years | -39.33% | -44.18% | +4.85% |
Max Drawdown (5Y)Largest decline over 5 years | -71.83% | -44.18% | -27.65% |
Max Drawdown (10Y)Largest decline over 10 years | -71.83% | -67.83% | -4.00% |
Current DrawdownCurrent decline from peak | -67.13% | -70.16% | +3.03% |
Average DrawdownAverage peak-to-trough decline | -59.00% | -53.27% | -5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.27% | 13.95% | -8.68% |
Volatility
NICK.L vs. SUGA.L - Volatility Comparison
The current volatility for WisdomTree Nickel (NICK.L) is 5.46%, while WisdomTree Sugar (SUGA.L) has a volatility of 5.93%. This indicates that NICK.L experiences smaller price fluctuations and is considered to be less risky than SUGA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NICK.L | SUGA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.46% | 5.93% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 23.38% | 17.85% | +5.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.08% | 24.43% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.14% | 25.05% | +19.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.47% | 25.90% | +10.57% |
NICK.L vs. SUGA.L - Expense Ratio Comparison
Both NICK.L and SUGA.L have an expense ratio of 0.49%.
Dividends
NICK.L vs. SUGA.L - Dividend Comparison
Neither NICK.L nor SUGA.L has paid dividends to shareholders.
Frequently Asked Questions
NICK.L and SUGA.L have a correlation of 0.07, 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 SUGA.L have the same expense ratio: 0.49% per year.
NICK.L is categorized as Metals, while SUGA.L is Agricultural Commodities. NICK.L tracks Bloomberg Nickel, while SUGA.L tracks Bloomberg Sugar.
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