ROLL.L vs. WCOB.L
ROLL.L (iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF) and WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) are both Commodities funds - ROLL.L tracks the iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF while WCOB.L tracks the Optimised Roll Commodity. Both are passively managed. Over the past 5 years, ROLL.L returned 12.62%/yr vs 10.68%/yr for WCOB.L. Their correlation of 0.84 suggests significant overlap in exposure. ROLL.L charges 0.28%/yr vs 0.35%/yr for WCOB.L.
Performance
ROLL.L vs. WCOB.L - Performance Comparison
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Different Trading Currencies
ROLL.L is traded in USD, while WCOB.L is traded in GBp. To make them comparable, the WCOB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ROLL.L achieves a 23.85% return, which is significantly lower than WCOB.L's 25.62% return.
ROLL.L
- 1D
- 0.55%
- 1M
- 1.79%
- 6M
- 17.06%
- YTD
- 23.85%
- 1Y
- 34.95%
- 3Y*
- 14.61%
- 5Y*
- 12.62%
- 10Y*
- —
WCOB.L
- 1D
- 0.41%
- 1M
- 1.16%
- 6M
- 18.34%
- YTD
- 25.62%
- 1Y
- 36.24%
- 3Y*
- 13.17%
- 5Y*
- 10.68%
- 10Y*
- 7.53%
ROLL.L vs. WCOB.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 | 23.85% | 16.94% | 4.68% | -2.22% | 16.67% | 27.69% | 0.83% | 5.26% | -11.11% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 25.62% | 15.86% | 2.76% | -7.43% | 12.94% | 27.19% | 0.87% | 7.46% | -9.63% |
Correlation
The correlation between ROLL.L and WCOB.L is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.84 |
The correlation between ROLL.L and WCOB.L has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
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Return for Risk
ROLL.L vs. WCOB.L — Risk / Return Rank
ROLL.L
WCOB.L
ROLL.L vs. WCOB.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 (ROLL.L) and WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.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 | WCOB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.59 | -0.10 |
| Martin ratioReturn relative to average drawdown | 8.63 | 8.97 | -0.34 |
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Drawdowns
ROLL.L vs. WCOB.L - Drawdown Comparison
The maximum ROLL.L drawdown since its inception was -26.90%, smaller than the maximum WCOB.L drawdown of -44.63%. Use the drawdown chart below to compare losses from any high point for ROLL.L and WCOB.L.
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Drawdown Indicators
| ROLL.L | WCOB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.90% | -44.63% | +17.73% |
Max Drawdown (1Y)Largest decline over 1 year | -13.94% | -13.92% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -13.94% | -23.60% | +9.66% |
Max Drawdown (5Y)Largest decline over 5 years | -20.45% | -24.44% | +3.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.21% | — |
Current DrawdownCurrent decline from peak | -7.46% | -7.89% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -9.17% | -21.75% | +12.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 4.03% | +0.01% |
Volatility
ROLL.L vs. WCOB.L - Volatility Comparison
The current volatility for iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L) is 4.60%, while WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) has a volatility of 5.18%. This indicates that ROLL.L experiences smaller price fluctuations and is considered to be less risky than WCOB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ROLL.L | WCOB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 5.18% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 14.48% | 15.51% | -1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.55% | 17.37% | -0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 20.70% | -4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.96% | 16.67% | -1.71% |
ROLL.L vs. WCOB.L - Expense Ratio Comparison
ROLL.L has a 0.28% expense ratio, which is lower than WCOB.L's 0.35% expense ratio.
Dividends
ROLL.L vs. WCOB.L - Dividend Comparison
Neither ROLL.L nor WCOB.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.90, ROLL.L and WCOB.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, ROLL.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ROLL.L is cheaper with a 0.28% expense ratio, compared with 0.35% for WCOB.L.
ROLL.L tracks iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF, while WCOB.L tracks Optimised Roll Commodity. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.28% for ROLL.L and 0.35% for WCOB.L.
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