ROLL.L vs. ICOM.L

Last updated Jul 18, 2026

ROLL.L (iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc)) and ICOM.L (iShares Diversified Commodity Swap UCITS ETF) are both Commodities funds from iShares - ROLL.L tracks the Bloomberg Enhanced Roll Yield Total Return Index while ICOM.L tracks the Bloomberg Commodity (Total Return Index). Both are passively managed. Over the past 5 years, ROLL.L returned 12.71%/yr vs 10.37%/yr for ICOM.L. Their correlation of 0.93 suggests significant overlap in exposure. ROLL.L charges 0.28%/yr vs 0.19%/yr for ICOM.L.

Performance

ROLL.L vs. ICOM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc) (ROLL.L) and iShares Diversified Commodity Swap UCITS ETF (ICOM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ROLL.L achieves a 24.33% return, which is significantly higher than ICOM.L's 21.07% return.

ROLL.L

• 1D: 0.66%
• 1M: 2.68%
• 6M: 18.83%
• YTD: 24.33%
• 1Y: 34.97%
• 3Y*: 14.49%
• 5Y*: 12.71%
• 10Y*: —

ICOM.L

• 1D: 0.73%
• 1M: 2.64%
• 6M: 17.41%
• YTD: 21.07%
• 1Y: 30.51%
• 3Y*: 12.61%
• 5Y*: 10.37%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ROLL.L iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc)	24.33%	16.94%	4.68%	-2.22%	16.67%	27.69%	0.83%	5.26%	-11.11%
ICOM.L iShares Diversified Commodity Swap UCITS ETF	21.07%	16.57%	4.40%	-7.51%	14.83%	27.05%	-3.74%	6.82%	-10.55%

Correlation

The correlation between ROLL.L and ICOM.L is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018	0.93

The correlation between ROLL.L and ICOM.L has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

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

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

ROLL.L

ROLL.L Risk / Return Rank: 76
ROLL.L Sharpe Ratio Rank: 86
ROLL.L Sortino Ratio Rank: 81
ROLL.L Omega Ratio Rank: 83
ROLL.L Calmar Ratio Rank: 67
ROLL.L Martin Ratio Rank: 65

ICOM.L

ICOM.L Risk / Return Rank: 63
ICOM.L Sharpe Ratio Rank: 72
ICOM.L Sortino Ratio Rank: 64
ICOM.L Omega Ratio Rank: 72
ICOM.L Calmar Ratio Rank: 54
ICOM.L Martin Ratio Rank: 52

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc) (ROLL.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.

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.

	ROLL.L	ICOM.L	Difference
Sharpe ratio: Return per unit of total volatility	2.10	1.77	+0.33
Sortino ratio: Return per unit of downside risk	2.74	2.29	+0.46
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	2.50	2.11	+0.39
Martin ratio: Return relative to average drawdown	8.58	6.70	+1.88

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

The current ROLL.L Sharpe Ratio is 2.10, which is comparable to the ICOM.L Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of ROLL.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.

Drawdowns

ROLL.L vs. ICOM.L - Drawdown Comparison

The maximum ROLL.L drawdown since its inception was -26.90%, smaller than the maximum ICOM.L drawdown of -33.13%. Use the drawdown chart below to compare losses from any high point for ROLL.L and ICOM.L.

Drawdown Indicators

	ROLL.L	ICOM.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.90%	-33.13%	+6.23%
Max Drawdown (1Y) Largest decline over 1 year	-13.94%	-14.39%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-14.39%	+0.45%
Max Drawdown (5Y) Largest decline over 5 years	-20.45%	-26.74%	+6.29%
Current Drawdown Current decline from peak	-7.10%	-8.05%	+0.95%
Average Drawdown Average peak-to-trough decline	-9.17%	-12.41%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	4.51%	-0.45%

Volatility

ROLL.L vs. ICOM.L - Volatility Comparison

iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc) (ROLL.L) and iShares Diversified Commodity Swap UCITS ETF (ICOM.L) have volatilities of 4.18% and 4.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ROLL.L	ICOM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	4.37%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	15.20%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	16.55%	17.15%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	16.54%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.96%	14.97%	-0.01%

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

ROLL.L has a 0.28% expense ratio, which is higher than ICOM.L's 0.19% expense ratio.

Dividends

ROLL.L vs. ICOM.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.93, ROLL.L and ICOM.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.

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

ICOM.L is cheaper with a 0.19% expense ratio, compared with 0.28% for ROLL.L.

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

ROLL.L tracks Bloomberg Enhanced Roll Yield Total Return Index, while ICOM.L tracks Bloomberg Commodity (Total Return Index). Their fees differ too: 0.28% for ROLL.L and 0.19% for ICOM.L.