SPAG.L vs. WOOD.L
SPAG.L (iShares Agribusiness UCITS ETF USD (Acc)) and WOOD.L (iShares Global Timber & Forestry UCITS ETF USD (Dist)) are both exchange-traded funds - SPAG.L is a Materials fund tracking the S&P Commodity Producers Agribusiness Index NTR, while WOOD.L is a Global Equities fund tracking the S&P Global Timber & Forestry Index (Net). Both are passively managed. Over the past 10 years, SPAG.L returned 7.13%/yr vs 4.62%/yr for WOOD.L. A 0.65 correlation means they provide meaningful diversification when combined. SPAG.L charges 0.55%/yr vs 0.65%/yr for WOOD.L.
Performance
SPAG.L vs. WOOD.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPAG.L achieves a 13.12% return, which is significantly higher than WOOD.L's -4.05% return. Over the past 10 years, SPAG.L has outperformed WOOD.L with an annualized return of 7.13%, while WOOD.L has yielded a comparatively lower 4.62% annualized return.
SPAG.L
- 1D
- 0.79%
- 1M
- 2.73%
- 6M
- 6.06%
- YTD
- 13.12%
- 1Y
- 16.53%
- 3Y*
- 4.27%
- 5Y*
- 5.31%
- 10Y*
- 7.13%
WOOD.L
- 1D
- -0.16%
- 1M
- 0.57%
- 6M
- -9.86%
- YTD
- -4.05%
- 1Y
- -4.89%
- 3Y*
- -2.36%
- 5Y*
- -2.69%
- 10Y*
- 4.62%
SPAG.L vs. WOOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAG.L iShares Agribusiness UCITS ETF USD (Acc) | 13.12% | 8.75% | -4.21% | -13.78% | 15.09% | 24.65% | 6.64% | 13.92% | -7.95% | 9.25% |
WOOD.L iShares Global Timber & Forestry UCITS ETF USD (Dist) | -4.05% | -9.97% | -3.72% | 7.19% | -8.92% | 16.76% | 16.74% | 14.91% | -15.41% | 20.95% |
Correlation
The correlation between SPAG.L and WOOD.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011 | 0.65 |
Over the past year, the correlation between SPAG.L and WOOD.L has dropped to 0.23 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.
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Return for Risk
SPAG.L vs. WOOD.L — Risk / Return Rank
SPAG.L
WOOD.L
SPAG.L vs. WOOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agribusiness UCITS ETF USD (Acc) (SPAG.L) and iShares Global Timber & Forestry UCITS ETF USD (Dist) (WOOD.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.
| SPAG.L | WOOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.97 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | -0.24 | +1.96 |
| Martin ratioReturn relative to average drawdown | 4.42 | -0.47 | +4.89 |
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Drawdowns
SPAG.L vs. WOOD.L - Drawdown Comparison
The maximum SPAG.L drawdown since its inception was -43.95%, smaller than the maximum WOOD.L drawdown of -76.03%. Use the drawdown chart below to compare losses from any high point for SPAG.L and WOOD.L.
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Drawdown Indicators
| SPAG.L | WOOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.95% | -76.03% | +32.08% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -20.56% | +11.00% |
Max Drawdown (3Y)Largest decline over 3 years | -27.60% | -25.68% | -1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -31.95% | -29.40% | -2.55% |
Max Drawdown (10Y)Largest decline over 10 years | -31.95% | -42.38% | +10.43% |
Current DrawdownCurrent decline from peak | -9.23% | -24.38% | +15.15% |
Average DrawdownAverage peak-to-trough decline | -17.43% | -28.49% | +11.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.73% | 10.30% | -6.57% |
Volatility
SPAG.L vs. WOOD.L - Volatility Comparison
The current volatility for iShares Agribusiness UCITS ETF USD (Acc) (SPAG.L) is 3.41%, while iShares Global Timber & Forestry UCITS ETF USD (Dist) (WOOD.L) has a volatility of 5.39%. This indicates that SPAG.L experiences smaller price fluctuations and is considered to be less risky than WOOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPAG.L | WOOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 5.39% | -1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 14.07% | -3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.80% | 17.16% | -4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 16.70% | +3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.97% | 18.19% | +0.78% |
SPAG.L vs. WOOD.L - Expense Ratio Comparison
SPAG.L has a 0.55% expense ratio, which is lower than WOOD.L's 0.65% expense ratio.
Dividends
SPAG.L vs. WOOD.L - Dividend Comparison
SPAG.L has not paid dividends to shareholders, while WOOD.L's dividend yield for the trailing twelve months is around 2.82%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPAG.L iShares Agribusiness UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WOOD.L iShares Global Timber & Forestry UCITS ETF USD (Dist) | 2.82% | 3.27% | 2.47% | 2.76% | 2.98% | 1.40% | 1.25% | 2.67% | 0.00% | 0.91% | 1.81% | 1.86% |
Frequently Asked Questions
SPAG.L and WOOD.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPAG.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPAG.L is cheaper with a 0.55% expense ratio, compared with 0.65% for WOOD.L.
SPAG.L is categorized as Materials, while WOOD.L is Global Equities. SPAG.L tracks S&P Commodity Producers Agribusiness Index NTR, while WOOD.L tracks S&P Global Timber & Forestry Index (Net). Their fees differ too: 0.55% for SPAG.L and 0.65% for WOOD.L.
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