SEGA.L vs. CMOD.L
SEGA.L (iShares Core Euro Government Bond UCITS ETF (Dist)) and CMOD.L (Invesco Bloomberg Commodity UCITS ETF) are both exchange-traded funds - SEGA.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index. Both are passively managed. Over the past 5 years, SEGA.L returned -2.37%/yr vs 12.07%/yr for CMOD.L. At a 0.04 correlation, their price movements are largely independent. SEGA.L charges 0.09%/yr vs 0.19%/yr for CMOD.L.
Performance
SEGA.L vs. CMOD.L - Performance Comparison
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Different Trading Currencies
SEGA.L is traded in GBP, while CMOD.L is traded in USD. To make them comparable, the CMOD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SEGA.L achieves a -2.14% return, which is significantly lower than CMOD.L's 25.10% return.
SEGA.L
- 1D
- 0.21%
- 1M
- 0.89%
- YTD
- -2.14%
- 6M
- -2.17%
- 1Y
- 1.39%
- 3Y*
- 2.02%
- 5Y*
- -2.37%
- 10Y*
- 0.52%
CMOD.L
- 1D
- -1.40%
- 1M
- -2.89%
- YTD
- 25.10%
- 6M
- 23.15%
- 1Y
- 38.70%
- 3Y*
- 12.46%
- 5Y*
- 12.07%
- 10Y*
- —
SEGA.L vs. CMOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist) | -2.14% | 5.88% | -2.94% | 4.76% | -13.69% | -9.85% | 10.69% | 1.45% | 1.62% | 2.37% |
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 25.10% | 7.88% | 5.95% | -12.18% | 28.11% | 28.55% | -6.69% | 2.58% | -4.90% | -9.94% |
Correlation
The correlation between SEGA.L and CMOD.L is -0.26, 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 | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2017 | 0.05 |
The correlation between SEGA.L and CMOD.L shifts across timeframes, from -0.26 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SEGA.L vs. CMOD.L — Risk / Return Rank
SEGA.L
CMOD.L
SEGA.L vs. CMOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L) and Invesco Bloomberg Commodity UCITS ETF (CMOD.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.
| SEGA.L | CMOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.39 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | 5.08 | -4.81 |
| Martin ratioReturn relative to average drawdown | 0.57 | 11.78 | -11.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SEGA.L | CMOD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.25 | 2.12 | -1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | 0.72 | -1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.06 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.38 | -0.22 |
Drawdowns
SEGA.L vs. CMOD.L - Drawdown Comparison
The maximum SEGA.L drawdown since its inception was -26.75%, smaller than the maximum CMOD.L drawdown of -32.23%. Use the drawdown chart below to compare losses from any high point for SEGA.L and CMOD.L.
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Drawdown Indicators
| SEGA.L | CMOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.75% | -32.23% | +5.48% |
Max Drawdown (1Y)Largest decline over 1 year | -5.13% | -7.58% | +2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.26% | -14.94% | +8.68% |
Max Drawdown (5Y)Largest decline over 5 years | -20.85% | -28.94% | +8.09% |
Max Drawdown (10Y)Largest decline over 10 years | -26.75% | — | — |
Current DrawdownCurrent decline from peak | -19.89% | -4.87% | -15.02% |
Average DrawdownAverage peak-to-trough decline | -10.41% | -14.42% | +4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 3.28% | -0.86% |
Volatility
SEGA.L vs. CMOD.L - Volatility Comparison
The current volatility for iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L) is 1.77%, while Invesco Bloomberg Commodity UCITS ETF (CMOD.L) has a volatility of 5.56%. This indicates that SEGA.L experiences smaller price fluctuations and is considered to be less risky than CMOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEGA.L | CMOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 5.56% | -3.79% |
Volatility (6M)Calculated over the trailing 6-month period | 4.34% | 15.85% | -11.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 18.19% | -12.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 16.80% | -9.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 15.37% | -6.87% |
SEGA.L vs. CMOD.L - Expense Ratio Comparison
SEGA.L has a 0.09% expense ratio, which is lower than CMOD.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SEGA.L vs. CMOD.L - Dividend Comparison
SEGA.L's dividend yield for the trailing twelve months is around 1.19%, while CMOD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist) | 1.19% | 2.25% | 1.82% | 0.97% | 0.26% | 0.25% | 0.45% | 0.68% | 0.65% | 0.69% | 0.86% | 0.60% |
Frequently Asked Questions
SEGA.L and CMOD.L have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEGA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEGA.L is cheaper with a 0.09% expense ratio, compared with 0.19% for CMOD.L.
SEGA.L is categorized as European Government Bonds, while CMOD.L is Commodities. SEGA.L tracks Bloomberg Euro Agg Govt TR EUR, while CMOD.L tracks Bloomberg Commodity TR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.09% for SEGA.L and 0.19% for CMOD.L.
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