RICI.L vs. ICOM.L

Last updated Jun 5, 2026

RICI.L (Market Access Rogers International Commodity UCITS ETF) and ICOM.L (iShares Diversified Commodity Swap UCITS ETF) are both Commodities funds - RICI.L tracks the Rogers International Commodity (RICI) while ICOM.L tracks the Bloomberg Commodity (Total Return Index). Both are passively managed. Over the past 5 years, RICI.L returned 13.77%/yr vs 12.26%/yr for ICOM.L. A 0.78 correlation means they provide meaningful diversification when combined. RICI.L charges 0.60%/yr vs 0.19%/yr for ICOM.L.

Performance

RICI.L vs. ICOM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Market Access Rogers International Commodity UCITS ETF (RICI.L) and iShares Diversified Commodity Swap UCITS ETF (ICOM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

RICI.L is traded in GBP, while ICOM.L is traded in USD. To make them comparable, the ICOM.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, RICI.L achieves a 32.73% return, which is significantly higher than ICOM.L's 25.24% return.

RICI.L

• 1D: -1.29%
• 1M: 0.01%
• YTD: 32.73%
• 6M: 30.20%
• 1Y: 41.96%
• 3Y*: 11.94%
• 5Y*: 13.77%
• 10Y*: —

ICOM.L

• 1D: -1.26%
• 1M: -2.76%
• YTD: 25.24%
• 6M: 23.33%
• 1Y: 38.99%
• 3Y*: 12.76%
• 5Y*: 12.26%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

RICI.L vs. ICOM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RICI.L Market Access Rogers International Commodity UCITS ETF	32.73%	-0.85%	6.32%	-10.69%	30.66%	42.40%	19.41%
ICOM.L iShares Diversified Commodity Swap UCITS ETF	25.20%	8.16%	6.90%	-12.66%	28.48%	28.25%	14.79%

Correlation

The correlation between RICI.L and ICOM.L is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Apr 17, 2020	0.78

The correlation between RICI.L and ICOM.L has been stable across timeframes, ranging from 0.78 to 0.88 - a consistent structural relationship.

RICI.L vs. ICOM.L - Sectors Allocation Comparison

Sectors	RICI.L	ICOM.L
Consumer Cyclical	18.0%	12.9%
Healthcare	17.1%	-
Industrials	15.7%	-
Basic Materials	13.6%	35.8%
Communication Services	10.3%	12.3%
Consumer Defensive	9.5%	9.7%
Technology	8.6%	5.6%
Utilities	3.7%	-
Financial Services	3.6%	17.8%
Energy	-	-
Real Estate	-	5.8%

Return for Risk

RICI.L vs. ICOM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RICI.L

RICI.L Risk / Return Rank: 66
RICI.L Sharpe Ratio Rank: 62
RICI.L Sortino Ratio Rank: 54
RICI.L Omega Ratio Rank: 63
RICI.L Calmar Ratio Rank: 88
RICI.L Martin Ratio Rank: 63

ICOM.L

ICOM.L Risk / Return Rank: 71
ICOM.L Sharpe Ratio Rank: 69
ICOM.L Sortino Ratio Rank: 59
ICOM.L Omega Ratio Rank: 70
ICOM.L Calmar Ratio Rank: 89
ICOM.L Martin Ratio Rank: 67

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.

RICI.L vs. ICOM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Market Access Rogers International Commodity UCITS ETF (RICI.L) and iShares Diversified Commodity Swap UCITS ETF (ICOM.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.

	RICI.L	ICOM.L	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.12	-0.09
Sortino ratio: Return per unit of downside risk	2.56	2.63	-0.06
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	5.16	5.21	-0.05
Martin ratio: Return relative to average drawdown	11.22	12.08	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RICI.L vs. ICOM.L - Sharpe Ratio Comparison

The current RICI.L Sharpe Ratio is 2.04, which is comparable to the ICOM.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of RICI.L and ICOM.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.

Sharpe Ratios by Period

	RICI.L	ICOM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.12	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.73	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.52	+0.45

Drawdowns

RICI.L vs. ICOM.L - Drawdown Comparison

The maximum RICI.L drawdown since its inception was -26.97%, smaller than the maximum ICOM.L drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for RICI.L and ICOM.L.

Drawdown Indicators

	RICI.L	ICOM.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.97%	-28.82%	+1.85%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-7.45%	-0.90%
Max Drawdown (3Y) Largest decline over 3 years	-16.40%	-14.48%	-1.92%
Max Drawdown (5Y) Largest decline over 5 years	-26.97%	-28.82%	+1.85%
Current Drawdown Current decline from peak	-5.90%	-4.74%	-1.16%
Average Drawdown Average peak-to-trough decline	-12.19%	-12.30%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	3.22%	+0.63%

Volatility

RICI.L vs. ICOM.L - Volatility Comparison

Market Access Rogers International Commodity UCITS ETF (RICI.L) has a higher volatility of 7.17% compared to iShares Diversified Commodity Swap UCITS ETF (ICOM.L) at 5.49%. This indicates that RICI.L's price experiences larger fluctuations and is considered to be riskier than ICOM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RICI.L	ICOM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.17%	5.49%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	18.33%	15.96%	+2.37%
Volatility (1Y) Calculated over the trailing 1-year period	21.17%	18.28%	+2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	16.73%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	15.71%	+3.17%

RICI.L vs. ICOM.L - Expense Ratio Comparison

RICI.L has a 0.60% expense ratio, which is higher than ICOM.L's 0.19% expense ratio.

Dividends

RICI.L vs. ICOM.L - Dividend Comparison

Neither RICI.L nor ICOM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RICI.L and ICOM.L in my portfolio?

RICI.L and ICOM.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RICI.L or ICOM.L?

On fees, ICOM.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RICI.L or ICOM.L?

ICOM.L is cheaper with a 0.19% expense ratio, compared with 0.60% for RICI.L.

What is the main difference between RICI.L and ICOM.L?

RICI.L tracks Rogers International Commodity (RICI), while ICOM.L tracks Bloomberg Commodity (Total Return Index). They also come from different issuers: China Post Global and iShares. Their fees differ too: 0.60% for RICI.L and 0.19% for ICOM.L.