SUGA.L vs. HOGS.L

Last updated Jun 5, 2026

SUGA.L (WisdomTree Sugar) and HOGS.L (WisdomTree Lean Hogs) are both Agricultural Commodities funds from WisdomTree - SUGA.L tracks the Bloomberg Sugar while HOGS.L tracks the Bloomberg Lean Hogs. Both are passively managed. Over the past 10 years, SUGA.L returned -2.92%/yr vs -6.22%/yr for HOGS.L. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.

Performance

SUGA.L vs. HOGS.L - Performance Comparison

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

Returns By Period

In the year-to-date period, SUGA.L achieves a -3.17% return, which is significantly higher than HOGS.L's -7.82% return. Over the past 10 years, SUGA.L has outperformed HOGS.L with an annualized return of -2.92%, while HOGS.L has yielded a comparatively lower -6.22% annualized return.

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%

HOGS.L

• 1D: -1.08%
• 1M: -3.55%
• YTD: -7.82%
• 6M: -3.60%
• 1Y: -6.57%
• 3Y*: 9.10%
• 5Y*: -2.16%
• 10Y*: -6.22%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SUGA.L WisdomTree Sugar	-3.17%	-17.47%	-5.25%	23.23%	11.54%	23.41%	6.59%	-0.53%	-24.60%	-27.09%
HOGS.L WisdomTree Lean Hogs	-7.82%	6.22%	22.20%	-22.50%	9.28%	31.95%	-34.91%	-21.42%	-9.85%	3.39%

Correlation

The correlation between SUGA.L and HOGS.L is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007	0.07

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

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

Return for Risk

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

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

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

HOGS.L

HOGS.L Risk / Return Rank: 6
HOGS.L Sharpe Ratio Rank: 6
HOGS.L Sortino Ratio Rank: 6
HOGS.L Omega Ratio Rank: 6
HOGS.L Calmar Ratio Rank: 6
HOGS.L Martin Ratio Rank: 5

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.

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

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Sugar (SUGA.L) and WisdomTree Lean Hogs (HOGS.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.

	SUGA.L	HOGS.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	-0.35	-0.35
Sortino ratio: Return per unit of downside risk	-0.89	-0.38	-0.51
Omega ratio: Gain probability vs. loss probability	0.90	0.96	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.79	-0.40	-0.39
Martin ratio: Return relative to average drawdown	-1.31	-0.82	-0.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current SUGA.L Sharpe Ratio is -0.70, which is lower than the HOGS.L Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of SUGA.L and HOGS.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

	SUGA.L	HOGS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	-0.35	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	-0.10	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.11	-0.23	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	-0.32	+0.22

Drawdowns

SUGA.L vs. HOGS.L - Drawdown Comparison

The maximum SUGA.L drawdown since its inception was -83.65%, smaller than the maximum HOGS.L drawdown of -93.79%. Use the drawdown chart below to compare losses from any high point for SUGA.L and HOGS.L.

Drawdown Indicators

	SUGA.L	HOGS.L	Difference
Max Drawdown Largest peak-to-trough decline	-83.65%	-93.79%	+10.14%
Max Drawdown (1Y) Largest decline over 1 year	-21.69%	-16.24%	-5.45%
Max Drawdown (3Y) Largest decline over 3 years	-43.76%	-19.71%	-24.05%
Max Drawdown (5Y) Largest decline over 5 years	-43.76%	-43.15%	-0.61%
Max Drawdown (10Y) Largest decline over 10 years	-67.83%	-73.76%	+5.93%
Current Drawdown Current decline from peak	-68.67%	-87.83%	+19.16%
Average Drawdown Average peak-to-trough decline	-51.34%	-74.70%	+23.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.20%	8.02%	+5.18%

Volatility

SUGA.L vs. HOGS.L - Volatility Comparison

WisdomTree Sugar (SUGA.L) has a higher volatility of 8.76% compared to WisdomTree Lean Hogs (HOGS.L) at 5.17%. This indicates that SUGA.L's price experiences larger fluctuations and is considered to be riskier than HOGS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUGA.L	HOGS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.76%	5.17%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	18.33%	12.71%	+5.62%
Volatility (1Y) Calculated over the trailing 1-year period	24.70%	18.58%	+6.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	31.97%	-6.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.90%	38.40%	-12.50%

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

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

Dividends

SUGA.L vs. HOGS.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

SUGA.L and HOGS.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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

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

SUGA.L tracks Bloomberg Sugar, while HOGS.L tracks Bloomberg Lean Hogs.