UIQK.DE vs. ETL2.DE

Last updated Jun 5, 2026

UIQK.DE (UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both Commodities funds - UIQK.DE tracks the UBS CMCI while ETL2.DE tracks the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, UIQK.DE returned 8.63%/yr vs 8.17%/yr for ETL2.DE. Their correlation of 0.91 suggests significant overlap in exposure. UIQK.DE charges 0.34%/yr vs 0.30%/yr for ETL2.DE.

Performance

UIQK.DE vs. ETL2.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UIQK.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UIQK.DE achieves a 22.10% return, which is significantly higher than ETL2.DE's 18.23% return. Over the past 10 years, UIQK.DE has outperformed ETL2.DE with an annualized return of 8.63%, while ETL2.DE has yielded a comparatively lower 8.17% annualized return.

UIQK.DE

• 1D: -1.26%
• 1M: -0.77%
• YTD: 22.10%
• 6M: 23.08%
• 1Y: 28.80%
• 3Y*: 10.29%
• 5Y*: 12.61%
• 10Y*: 8.63%

ETL2.DE

• 1D: -1.24%
• 1M: -1.51%
• YTD: 18.23%
• 6M: 19.58%
• 1Y: 28.45%
• 3Y*: 10.87%
• 5Y*: 13.12%
• 10Y*: 8.17%

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

UIQK.DE vs. ETL2.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UIQK.DE UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc	22.10%	-1.67%	10.72%	-4.23%	22.43%	46.71%	-8.90%	12.48%	-6.36%	-6.03%
ETL2.DE L&G Longer Dated All Commodities UCITS ETF	18.23%	4.89%	11.54%	-9.44%	24.86%	46.17%	-7.55%	10.85%	-4.21%	-9.85%

Correlation

The correlation between UIQK.DE and ETL2.DE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 27, 2013	0.91

The correlation between UIQK.DE and ETL2.DE has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

UIQK.DE vs. ETL2.DE — Risk / Return Rank

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

UIQK.DE

UIQK.DE Risk / Return Rank: 36
UIQK.DE Sharpe Ratio Rank: 32
UIQK.DE Sortino Ratio Rank: 31
UIQK.DE Omega Ratio Rank: 51
UIQK.DE Calmar Ratio Rank: 37
UIQK.DE Martin Ratio Rank: 27

ETL2.DE

ETL2.DE Risk / Return Rank: 57
ETL2.DE Sharpe Ratio Rank: 56
ETL2.DE Sortino Ratio Rank: 51
ETL2.DE Omega Ratio Rank: 54
ETL2.DE Calmar Ratio Rank: 72
ETL2.DE Martin Ratio Rank: 49

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.

UIQK.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UIQK.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.DE). 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.

	UIQK.DE	ETL2.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.87	-0.76
Sortino ratio: Return per unit of downside risk	1.65	2.47	-0.82
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	1.81	3.59	-1.78
Martin ratio: Return relative to average drawdown	3.75	8.20	-4.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UIQK.DE vs. ETL2.DE - Sharpe Ratio Comparison

The current UIQK.DE Sharpe Ratio is 1.11, which is lower than the ETL2.DE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of UIQK.DE and ETL2.DE, 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

	UIQK.DE	ETL2.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	1.87	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.84	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.59	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.25	+0.02

Drawdowns

UIQK.DE vs. ETL2.DE - Drawdown Comparison

The maximum UIQK.DE drawdown since its inception was -40.58%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for UIQK.DE and ETL2.DE.

Drawdown Indicators

	UIQK.DE	ETL2.DE	Difference
Max Drawdown Largest peak-to-trough decline	-40.58%	-47.04%	+6.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.84%	-7.90%	-7.94%
Max Drawdown (3Y) Largest decline over 3 years	-15.84%	-15.06%	-0.78%
Max Drawdown (5Y) Largest decline over 5 years	-17.37%	-23.27%	+5.90%
Max Drawdown (10Y) Largest decline over 10 years	-30.72%	-26.50%	-4.22%
Current Drawdown Current decline from peak	-3.23%	-3.57%	+0.34%
Average Drawdown Average peak-to-trough decline	-14.71%	-21.90%	+7.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.66%	3.46%	+4.20%

Volatility

UIQK.DE vs. ETL2.DE - Volatility Comparison

UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UIQK.DE) has a higher volatility of 5.01% compared to L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) at 4.60%. This indicates that UIQK.DE's price experiences larger fluctuations and is considered to be riskier than ETL2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UIQK.DE	ETL2.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	4.60%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	12.74%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	25.76%	15.15%	+10.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	15.44%	+2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.90%	13.69%	+2.21%

UIQK.DE vs. ETL2.DE - Expense Ratio Comparison

UIQK.DE has a 0.34% expense ratio, which is higher than ETL2.DE's 0.30% expense ratio.

Dividends

UIQK.DE vs. ETL2.DE - Dividend Comparison

Neither UIQK.DE nor ETL2.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UIQK.DE and ETL2.DE in my portfolio?

With a correlation of 0.91, UIQK.DE and ETL2.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, UIQK.DE or ETL2.DE?

On fees, ETL2.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UIQK.DE or ETL2.DE?

ETL2.DE is cheaper with a 0.30% expense ratio, compared with 0.34% for UIQK.DE.

What is the main difference between UIQK.DE and ETL2.DE?

UIQK.DE tracks UBS CMCI, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: UBS and Legal & General. Their fees differ too: 0.34% for UIQK.DE and 0.30% for ETL2.DE.