SOYO.L vs. SUGA.L

Last updated Jun 5, 2026

SOYO.L (WisdomTree Soybean Oil) and SUGA.L (WisdomTree Sugar) are both Agricultural Commodities funds from WisdomTree - SOYO.L tracks the Bloomberg Soybean Oil while SUGA.L tracks the Bloomberg Sugar. Both are passively managed. Over the past 10 years, SOYO.L returned 9.57%/yr vs -2.92%/yr for SUGA.L. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.

Performance

SOYO.L vs. SUGA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Soybean Oil (SOYO.L) and WisdomTree Sugar (SUGA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOYO.L achieves a 55.41% return, which is significantly higher than SUGA.L's -3.17% return. Over the past 10 years, SOYO.L has outperformed SUGA.L with an annualized return of 9.57%, while SUGA.L has yielded a comparatively lower -2.92% annualized return.

SOYO.L

• 1D: -3.45%
• 1M: -0.26%
• YTD: 55.41%
• 6M: 47.62%
• 1Y: 62.54%
• 3Y*: 18.64%
• 5Y*: 6.66%
• 10Y*: 9.57%

SUGA.L

• 1D: -0.86%
• 1M: -7.18%
• YTD: -3.17%
• 6M: -2.16%
• 1Y: -17.30%
• 3Y*: -11.77%
• 5Y*: 1.18%
• 10Y*: -2.92%

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

SOYO.L vs. SUGA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOYO.L WisdomTree Soybean Oil	55.41%	20.93%	-16.19%	-20.85%	31.60%	49.66%	13.00%	19.09%	-18.74%	-9.81%
SUGA.L WisdomTree Sugar	-3.17%	-17.47%	-5.25%	23.23%	11.54%	23.41%	6.59%	-0.53%	-24.60%	-27.09%

Correlation

The correlation between SOYO.L and SUGA.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Oct 23, 2006	0.17

SOYO.L vs. SUGA.L - Sectors Allocation Comparison

Sectors	SOYO.L	SUGA.L
Technology	100.0%	-
Basic Materials	-	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SOYO.L vs. SUGA.L — Risk / Return Rank

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

SOYO.L

SOYO.L Risk / Return Rank: 74
SOYO.L Sharpe Ratio Rank: 82
SOYO.L Sortino Ratio Rank: 80
SOYO.L Omega Ratio Rank: 74
SOYO.L Calmar Ratio Rank: 81
SOYO.L Martin Ratio Rank: 53

SUGA.L

SUGA.L Risk / Return Rank: 3
SUGA.L Sharpe Ratio Rank: 3
SUGA.L Sortino Ratio Rank: 3
SUGA.L Omega Ratio Rank: 4
SUGA.L Calmar Ratio Rank: 2
SUGA.L Martin Ratio Rank: 2

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.

SOYO.L vs. SUGA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Soybean Oil (SOYO.L) and WisdomTree Sugar (SUGA.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.

	SOYO.L	SUGA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.62	-0.70	+3.32
Sortino ratio: Return per unit of downside risk	3.51	-0.89	+4.39
Omega ratio: Gain probability vs. loss probability	1.43	0.90	+0.53
Calmar ratio: Return relative to maximum drawdown	4.13	-0.79	+4.93
Martin ratio: Return relative to average drawdown	9.03	-1.31	+10.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOYO.L vs. SUGA.L - Sharpe Ratio Comparison

The current SOYO.L Sharpe Ratio is 2.62, which is higher than the SUGA.L Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of SOYO.L and SUGA.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.

Sharpe Ratios by Period

	SOYO.L	SUGA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	-0.70	+3.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.05	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	-0.11	+0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	-0.10	+0.22

Drawdowns

SOYO.L vs. SUGA.L - Drawdown Comparison

The maximum SOYO.L drawdown since its inception was -81.90%, roughly equal to the maximum SUGA.L drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for SOYO.L and SUGA.L.

Drawdown Indicators

	SOYO.L	SUGA.L	Difference
Max Drawdown Largest peak-to-trough decline	-81.90%	-83.65%	+1.75%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-21.69%	+6.64%
Max Drawdown (3Y) Largest decline over 3 years	-39.69%	-43.76%	+4.07%
Max Drawdown (5Y) Largest decline over 5 years	-46.60%	-43.76%	-2.84%
Max Drawdown (10Y) Largest decline over 10 years	-46.60%	-67.83%	+21.23%
Current Drawdown Current decline from peak	-28.72%	-68.67%	+39.95%
Average Drawdown Average peak-to-trough decline	-57.06%	-51.34%	-5.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	13.20%	-6.30%

Volatility

SOYO.L vs. SUGA.L - Volatility Comparison

The current volatility for WisdomTree Soybean Oil (SOYO.L) is 7.90%, while WisdomTree Sugar (SUGA.L) has a volatility of 8.76%. This indicates that SOYO.L experiences smaller price fluctuations and is considered to be less risky than SUGA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOYO.L	SUGA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.90%	8.76%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	16.77%	18.33%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	23.73%	24.70%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.83%	25.12%	+4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.32%	25.90%	-0.58%

SOYO.L vs. SUGA.L - Expense Ratio Comparison

Both SOYO.L and SUGA.L have an expense ratio of 0.49%.

Dividends

SOYO.L vs. SUGA.L - Dividend Comparison

Neither SOYO.L nor SUGA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SOYO.L and SUGA.L in my portfolio?

SOYO.L and SUGA.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SOYO.L or SUGA.L?

Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOYO.L or SUGA.L?

SOYO.L and SUGA.L have the same expense ratio: 0.49% per year.

What is the main difference between SOYO.L and SUGA.L?

SOYO.L tracks Bloomberg Soybean Oil, while SUGA.L tracks Bloomberg Sugar.