SGLN.L vs. WCOB.L
SGLN.L (iShares Physical Gold ETC) and WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while WCOB.L is a Commodities fund tracking the Optimised Roll Commodity. Both are passively managed. Over the past 10 years, SGLN.L returned 13.39%/yr vs 8.06%/yr for WCOB.L. At a 0.39 correlation, their price movements are largely independent. SGLN.L charges 0.12%/yr vs 0.35%/yr for WCOB.L.
Performance
SGLN.L vs. WCOB.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLN.L achieves a 0.61% return, which is significantly lower than WCOB.L's 23.50% return. Over the past 10 years, SGLN.L has outperformed WCOB.L with an annualized return of 13.39%, while WCOB.L has yielded a comparatively lower 8.06% annualized return.
SGLN.L
- 1D
- -0.49%
- 1M
- -5.49%
- YTD
- 0.61%
- 6M
- 0.56%
- 1Y
- 28.55%
- 3Y*
- 28.07%
- 5Y*
- 20.31%
- 10Y*
- 13.39%
WCOB.L
- 1D
- -0.86%
- 1M
- -8.75%
- YTD
- 23.50%
- 6M
- 26.72%
- 1Y
- 32.96%
- 3Y*
- 10.77%
- 5Y*
- 11.80%
- 10Y*
- 8.06%
SGLN.L vs. WCOB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 0.61% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 4.36% | 1.68% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 23.50% | 7.73% | 4.50% | -12.06% | 26.46% | 28.35% | -2.13% | 3.31% | -3.90% | -4.31% |
Correlation
The correlation between SGLN.L and WCOB.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2016 | 0.39 |
Over the past year, the correlation between SGLN.L and WCOB.L has dropped to 0.19 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
SGLN.L vs. WCOB.L — Risk / Return Rank
SGLN.L
WCOB.L
SGLN.L vs. WCOB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.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.
| SGLN.L | WCOB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 3.48 | -2.24 |
| Martin ratioReturn relative to average drawdown | 3.77 | 10.87 | -7.10 |
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Drawdowns
SGLN.L vs. WCOB.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, which is greater than WCOB.L's maximum drawdown of -33.06%. Use the drawdown chart below to compare losses from any high point for SGLN.L and WCOB.L.
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Drawdown Indicators
| SGLN.L | WCOB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -33.06% | -20.17% |
Max Drawdown (1Y)Largest decline over 1 year | -22.87% | -9.43% | -13.44% |
Max Drawdown (3Y)Largest decline over 3 years | -22.87% | -26.20% | +3.33% |
Max Drawdown (5Y)Largest decline over 5 years | -22.87% | -27.14% | +4.27% |
Max Drawdown (10Y)Largest decline over 10 years | -22.87% | -27.14% | +4.27% |
Current DrawdownCurrent decline from peak | -18.66% | -9.43% | -9.23% |
Average DrawdownAverage peak-to-trough decline | -24.69% | -17.94% | -6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 3.02% | +4.53% |
Volatility
SGLN.L vs. WCOB.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) has a higher volatility of 7.31% compared to WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) at 4.81%. This indicates that SGLN.L's price experiences larger fluctuations and is considered to be riskier 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
| SGLN.L | WCOB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 4.81% | +2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 20.98% | 15.68% | +5.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.96% | 17.80% | +6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.88% | 20.42% | +1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.83% | 16.88% | +1.95% |
SGLN.L vs. WCOB.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is lower than WCOB.L's 0.35% expense ratio.
Dividends
SGLN.L vs. WCOB.L - Dividend Comparison
Neither SGLN.L nor WCOB.L has paid dividends to shareholders.
Frequently Asked Questions
SGLN.L and WCOB.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.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.35% for WCOB.L.
SGLN.L is categorized as Gold, while WCOB.L is Commodities. SGLN.L tracks LBMA Gold Price, while WCOB.L tracks Optimised Roll Commodity. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.12% for SGLN.L and 0.35% for WCOB.L.
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