RIEG.L vs. CMFP.L

Last updated Jun 5, 2026

RIEG.L (L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating) and CMFP.L (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - RIEG.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while CMFP.L is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 5 years, RIEG.L returned 7.95%/yr vs 13.29%/yr for CMFP.L. At a 0.08 correlation, their price movements are largely independent. RIEG.L charges 0.16%/yr vs 0.30%/yr for CMFP.L.

Performance

RIEG.L vs. CMFP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L) and L&G Longer Dated All Commodities UCITS ETF (CMFP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RIEG.L achieves a 3.70% return, which is significantly lower than CMFP.L's 19.16% return.

RIEG.L

• 1D: -0.76%
• 1M: 1.74%
• YTD: 3.70%
• 6M: 5.38%
• 1Y: 13.36%
• 3Y*: 11.29%
• 5Y*: 7.95%
• 10Y*: —

CMFP.L

• 1D: -1.12%
• 1M: -1.18%
• YTD: 19.16%
• 6M: 18.60%
• 1Y: 32.00%
• 3Y*: 10.92%
• 5Y*: 13.29%
• 10Y*: 9.22%

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

RIEG.L vs. CMFP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RIEG.L L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating	3.70%	21.77%	4.47%	13.07%	-7.71%	17.00%	5.45%	3.97%
CMFP.L L&G Longer Dated All Commodities UCITS ETF	19.16%	8.49%	6.86%	-11.43%	32.79%	34.61%	-0.92%	-2.34%

Correlation

The correlation between RIEG.L and CMFP.L is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Sep 18, 2019	0.08

The correlation between RIEG.L and CMFP.L shifts across timeframes, from -0.19 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

RIEG.L vs. CMFP.L - Sectors Allocation Comparison

Sectors	RIEG.L	CMFP.L
Financial Services	24.1%	10.7%
Industrials	18.2%	-
Healthcare	12.5%	-
Consumer Defensive	10.2%	13.6%
Technology	8.2%	5.1%
Utilities	7.1%	-
Consumer Cyclical	6.9%	8.3%
Communication Services	4.5%	7.6%
Energy	4.5%	-
Basic Materials	3.8%	49.3%
Real Estate	-	5.5%

Return for Risk

RIEG.L vs. CMFP.L — Risk / Return Rank

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

RIEG.L

RIEG.L Risk / Return Rank: 30
RIEG.L Sharpe Ratio Rank: 33
RIEG.L Sortino Ratio Rank: 31
RIEG.L Omega Ratio Rank: 33
RIEG.L Calmar Ratio Rank: 26
RIEG.L Martin Ratio Rank: 29

CMFP.L

CMFP.L Risk / Return Rank: 69
CMFP.L Sharpe Ratio Rank: 66
CMFP.L Sortino Ratio Rank: 59
CMFP.L Omega Ratio Rank: 65
CMFP.L Calmar Ratio Rank: 86
CMFP.L Martin Ratio Rank: 65

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.

RIEG.L vs. CMFP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L) and L&G Longer Dated All Commodities UCITS ETF (CMFP.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.

	RIEG.L	CMFP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.16	2.16	-1.01
Sortino ratio: Return per unit of downside risk	1.63	2.76	-1.12
Omega ratio: Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio: Return relative to maximum drawdown	1.24	4.81	-3.57
Martin ratio: Return relative to average drawdown	4.05	11.77	-7.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RIEG.L vs. CMFP.L - Sharpe Ratio Comparison

The current RIEG.L Sharpe Ratio is 1.16, which is lower than the CMFP.L Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of RIEG.L and CMFP.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

	RIEG.L	CMFP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	2.16	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.89	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.27	+0.28

Drawdowns

RIEG.L vs. CMFP.L - Drawdown Comparison

The maximum RIEG.L drawdown since its inception was -27.21%, smaller than the maximum CMFP.L drawdown of -50.47%. Use the drawdown chart below to compare losses from any high point for RIEG.L and CMFP.L.

Drawdown Indicators

	RIEG.L	CMFP.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.21%	-50.47%	+23.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	-6.63%	-4.61%
Max Drawdown (3Y) Largest decline over 3 years	-12.35%	-12.97%	+0.62%
Max Drawdown (5Y) Largest decline over 5 years	-19.81%	-23.51%	+3.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.95%	—
Current Drawdown Current decline from peak	-4.51%	-3.64%	-0.87%
Average Drawdown Average peak-to-trough decline	-4.40%	-24.51%	+20.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	2.71%	+0.72%

Volatility

RIEG.L vs. CMFP.L - Volatility Comparison

The current volatility for L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L) is 4.11%, while L&G Longer Dated All Commodities UCITS ETF (CMFP.L) has a volatility of 4.82%. This indicates that RIEG.L experiences smaller price fluctuations and is considered to be less risky than CMFP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIEG.L	CMFP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	4.82%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	12.18%	-2.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.02%	14.73%	-2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.05%	14.86%	-0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	13.92%	+2.26%

RIEG.L vs. CMFP.L - Expense Ratio Comparison

RIEG.L has a 0.16% expense ratio, which is lower than CMFP.L's 0.30% expense ratio.

Dividends

RIEG.L vs. CMFP.L - Dividend Comparison

Neither RIEG.L nor CMFP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RIEG.L and CMFP.L in my portfolio?

RIEG.L and CMFP.L have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RIEG.L or CMFP.L?

On fees, RIEG.L is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RIEG.L or CMFP.L?

RIEG.L is cheaper with a 0.16% expense ratio, compared with 0.30% for CMFP.L.

What is the main difference between RIEG.L and CMFP.L?

RIEG.L is categorized as Europe Equities, while CMFP.L is Commodities. RIEG.L tracks MSCI Europe NR EUR, while CMFP.L tracks Bloomberg Commodity 3 Month Forward. Their fees differ too: 0.16% for RIEG.L and 0.30% for CMFP.L.