PCOM.DE vs. ETLF.DE
PCOM.DE (WisdomTree Broad Commodities UCITS ETF) and ETLF.DE (L&G All Commodities UCITS ETF) are both Commodities funds tracking the Bloomberg Commodity, from WisdomTree and Legal & General respectively. Both are passively managed. Over the past 3 years, PCOM.DE returned 13.46%/yr vs 12.51%/yr for ETLF.DE. With a 0.95 correlation, they move nearly in lockstep. PCOM.DE charges 0.19%/yr vs 0.15%/yr for ETLF.DE.
Performance
PCOM.DE vs. ETLF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PCOM.DE achieves a 25.30% return, which is significantly higher than ETLF.DE's 23.78% return.
PCOM.DE
- 1D
- 0.54%
- 1M
- -1.79%
- YTD
- 25.30%
- 6M
- 26.22%
- 1Y
- 37.88%
- 3Y*
- 13.46%
- 5Y*
- —
- 10Y*
- —
ETLF.DE
- 1D
- -1.48%
- 1M
- -2.99%
- YTD
- 23.78%
- 6M
- 24.44%
- 1Y
- 35.03%
- 3Y*
- 12.51%
- 5Y*
- 12.26%
- 10Y*
- —
PCOM.DE vs. ETLF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PCOM.DE WisdomTree Broad Commodities UCITS ETF | 25.30% | 5.09% | 10.91% | -10.29% | 19.78% | 3.63% |
ETLF.DE L&G All Commodities UCITS ETF | 23.78% | 4.67% | 10.97% | -10.24% | 21.51% | 2.89% |
Correlation
The correlation between PCOM.DE and ETLF.DE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.95 |
The correlation between PCOM.DE and ETLF.DE has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
PCOM.DE vs. ETLF.DE — Risk / Return Rank
PCOM.DE
ETLF.DE
PCOM.DE vs. ETLF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Broad Commodities UCITS ETF (PCOM.DE) and L&G All Commodities UCITS ETF (ETLF.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.
| PCOM.DE | ETLF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.17 | 3.96 | +0.21 |
| Martin ratioReturn relative to average drawdown | 9.37 | 8.79 | +0.58 |
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
| PCOM.DE | ETLF.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 1.86 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.53 | +0.11 |
Drawdowns
PCOM.DE vs. ETLF.DE - Drawdown Comparison
The maximum PCOM.DE drawdown since its inception was -27.22%, smaller than the maximum ETLF.DE drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for PCOM.DE and ETLF.DE.
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Drawdown Indicators
| PCOM.DE | ETLF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.22% | -28.78% | +1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -8.82% | -8.80% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -15.80% | -15.96% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.00% | — |
Current DrawdownCurrent decline from peak | -3.52% | -4.91% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -15.90% | -12.13% | -3.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.93% | 3.97% | -0.04% |
Volatility
PCOM.DE vs. ETLF.DE - Volatility Comparison
WisdomTree Broad Commodities UCITS ETF (PCOM.DE) has a higher volatility of 6.27% compared to L&G All Commodities UCITS ETF (ETLF.DE) at 5.93%. This indicates that PCOM.DE's price experiences larger fluctuations and is considered to be riskier than ETLF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCOM.DE | ETLF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.27% | 5.93% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | 16.60% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 18.79% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.76% | 17.09% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.76% | 15.59% | +2.17% |
PCOM.DE vs. ETLF.DE - Expense Ratio Comparison
PCOM.DE has a 0.19% expense ratio, which is higher than ETLF.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PCOM.DE vs. ETLF.DE - Dividend Comparison
Neither PCOM.DE nor ETLF.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, PCOM.DE and ETLF.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETLF.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLF.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for PCOM.DE.
Both ETFs track Bloomberg Commodity. They also come from different issuers: WisdomTree and Legal & General. Their fees differ too: 0.19% for PCOM.DE and 0.15% for ETLF.DE.
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