NICK.L vs. WEAT.L
NICK.L (WisdomTree Nickel) and WEAT.L (WisdomTree Wheat) are both exchange-traded funds - NICK.L is a Metals fund tracking the Bloomberg Nickel, while WEAT.L is a Agricultural Commodities fund tracking the Bloomberg Wheat. Both are passively managed. Over the past 10 years, NICK.L returned 3.36%/yr vs -5.04%/yr for WEAT.L. At a 0.16 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.
Performance
NICK.L vs. WEAT.L - Performance Comparison
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Returns By Period
In the year-to-date period, NICK.L achieves a -0.88% return, which is significantly lower than WEAT.L's 28.47% return. Over the past 10 years, NICK.L has outperformed WEAT.L with an annualized return of 3.36%, while WEAT.L has yielded a comparatively lower -5.04% annualized return.
NICK.L
- 1D
- 0.14%
- 1M
- -6.23%
- 6M
- -11.40%
- YTD
- -0.88%
- 1Y
- 8.30%
- 3Y*
- -9.86%
- 5Y*
- -3.84%
- 10Y*
- 3.36%
WEAT.L
- 1D
- 5.43%
- 1M
- 13.57%
- 6M
- 27.80%
- YTD
- 28.47%
- 1Y
- 13.45%
- 3Y*
- -8.51%
- 5Y*
- -8.87%
- 10Y*
- -5.04%
NICK.L vs. WEAT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NICK.L WisdomTree Nickel | -0.88% | 6.27% | -8.39% | -46.64% | 46.43% | 23.82% | 14.32% | 32.78% | -14.51% | 18.82% |
WEAT.L WisdomTree Wheat | 28.47% | -17.66% | -20.51% | -25.55% | -7.13% | 14.06% | 9.11% | 6.88% | 2.75% | -13.04% |
Correlation
The correlation between NICK.L and WEAT.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.16 |
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Return for Risk
NICK.L vs. WEAT.L — Risk / Return Rank
NICK.L
WEAT.L
NICK.L vs. WEAT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Nickel (NICK.L) and WisdomTree Wheat (WEAT.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 | WEAT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.11 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.80 | -0.32 |
| Martin ratioReturn relative to average drawdown | 1.26 | 1.62 | -0.36 |
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Drawdowns
NICK.L vs. WEAT.L - Drawdown Comparison
The maximum NICK.L drawdown since its inception was -81.25%, smaller than the maximum WEAT.L drawdown of -94.62%. Use the drawdown chart below to compare losses from any high point for NICK.L and WEAT.L.
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Drawdown Indicators
| NICK.L | WEAT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.25% | -94.62% | +13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -17.52% | -16.83% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -39.33% | -49.16% | +9.83% |
Max Drawdown (5Y)Largest decline over 5 years | -71.83% | -73.80% | +1.97% |
Max Drawdown (10Y)Largest decline over 10 years | -71.83% | -73.80% | +1.97% |
Current DrawdownCurrent decline from peak | -67.31% | -93.06% | +25.75% |
Average DrawdownAverage peak-to-trough decline | -59.03% | -81.45% | +22.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.58% | 8.28% | -1.70% |
Volatility
NICK.L vs. WEAT.L - Volatility Comparison
The current volatility for WisdomTree Nickel (NICK.L) is 5.46%, while WisdomTree Wheat (WEAT.L) has a volatility of 9.39%. This indicates that NICK.L experiences smaller price fluctuations and is considered to be less risky than WEAT.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 | WEAT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.46% | 9.39% | -3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 18.03% | 20.99% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.10% | 24.47% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.13% | 32.41% | +11.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.35% | 29.23% | +7.12% |
NICK.L vs. WEAT.L - Expense Ratio Comparison
Both NICK.L and WEAT.L have an expense ratio of 0.49%.
Dividends
NICK.L vs. WEAT.L - Dividend Comparison
Neither NICK.L nor WEAT.L has paid dividends to shareholders.
Frequently Asked Questions
NICK.L and WEAT.L have a correlation of 0.16, 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 WEAT.L have the same expense ratio: 0.49% per year.
NICK.L is categorized as Metals, while WEAT.L is Agricultural Commodities. NICK.L tracks Bloomberg Nickel, while WEAT.L tracks Bloomberg Wheat.
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