ROLG.L vs. CMFP.L
ROLG.L (iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD) and CMFP.L (L&G Longer Dated All Commodities UCITS ETF) are both Commodities funds - ROLG.L tracks the Bloomberg Roll Select Commodity while CMFP.L tracks the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 5 years, ROLG.L returned 12.75%/yr vs 11.75%/yr for CMFP.L. Their correlation of 0.90 suggests significant overlap in exposure. ROLG.L charges 0.28%/yr vs 0.30%/yr for CMFP.L.
Performance
ROLG.L vs. CMFP.L - Performance Comparison
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Different Trading Currencies
ROLG.L is traded in GBP, while CMFP.L is traded in GBp. To make them comparable, the CMFP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ROLG.L achieves a 17.97% return, which is significantly higher than CMFP.L's 11.75% return.
ROLG.L
- 1D
- -1.69%
- 1M
- -9.69%
- YTD
- 17.97%
- 6M
- 16.69%
- 1Y
- 31.76%
- 3Y*
- 11.75%
- 5Y*
- 12.75%
- 10Y*
- —
CMFP.L
- 1D
- -1.27%
- 1M
- -7.39%
- YTD
- 11.75%
- 6M
- 10.83%
- 1Y
- 23.21%
- 3Y*
- 8.97%
- 5Y*
- 11.75%
- 10Y*
- 7.94%
ROLG.L vs. CMFP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ROLG.L iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD | 17.97% | 8.66% | 6.32% | -7.36% | 30.51% | 29.23% | -2.41% | 1.84% | -30.50% |
CMFP.L L&G Longer Dated All Commodities UCITS ETF | 11.75% | 8.49% | 6.86% | -11.43% | 32.79% | 34.61% | -0.92% | 3.99% | -8.22% |
Correlation
The correlation between ROLG.L and CMFP.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.90 |
The correlation between ROLG.L and CMFP.L has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
ROLG.L vs. CMFP.L — Risk / Return Rank
ROLG.L
CMFP.L
ROLG.L vs. CMFP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD (ROLG.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.
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.
| ROLG.L | CMFP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.29 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.40 | +0.28 |
| Martin ratioReturn relative to average drawdown | 11.91 | 9.37 | +2.54 |
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Drawdowns
ROLG.L vs. CMFP.L - Drawdown Comparison
The maximum ROLG.L drawdown since its inception was -40.64%, smaller than the maximum CMFP.L drawdown of -66.80%. Use the drawdown chart below to compare losses from any high point for ROLG.L and CMFP.L.
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Drawdown Indicators
| ROLG.L | CMFP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.64% | -66.80% | +26.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -9.63% | -2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -25.00% | -25.15% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -25.00% | -25.15% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.15% | — |
Current DrawdownCurrent decline from peak | -11.80% | -11.13% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -18.42% | -43.89% | +25.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.47% | +0.19% |
Volatility
ROLG.L vs. CMFP.L - Volatility Comparison
iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD (ROLG.L) has a higher volatility of 4.71% compared to L&G Longer Dated All Commodities UCITS ETF (CMFP.L) at 3.37%. This indicates that ROLG.L's price experiences larger fluctuations and is considered to be riskier than CMFP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ROLG.L | CMFP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 3.37% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 12.35% | +2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.92% | 14.80% | +2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.19% | 20.04% | +2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.68% | 16.68% | +5.00% |
ROLG.L vs. CMFP.L - Expense Ratio Comparison
ROLG.L has a 0.28% expense ratio, which is lower than CMFP.L's 0.30% expense ratio.
Dividends
ROLG.L vs. CMFP.L - Dividend Comparison
Neither ROLG.L nor CMFP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, ROLG.L and CMFP.L 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, ROLG.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ROLG.L is cheaper with a 0.28% expense ratio, compared with 0.30% for CMFP.L.
ROLG.L tracks Bloomberg Roll Select Commodity, while CMFP.L tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.28% for ROLG.L and 0.30% for CMFP.L.
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