USDC.L vs. BCOM.L

Last updated Jul 16, 2026

USDC.L (L&G USD Corporate Bond Screened UCITS ETF USD Distributing) and BCOM.L (L&G All Commodities UCITS ETF - USD Accumulating ETF) are both exchange-traded funds - USDC.L is a Corporate Bonds fund tracking the L&G USD Corporate Bond Screened UCITS ETF USD Distributing, while BCOM.L is a Commodities fund tracking the Bloomberg Commodity Index Total Return. Both are passively managed. Over the past 5 years, USDC.L returned 0.12%/yr vs 10.51%/yr for BCOM.L. At a correlation of -0.01, they often move in opposite directions. USDC.L charges 0.09%/yr vs 0.15%/yr for BCOM.L.

Performance

USDC.L vs. BCOM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G USD Corporate Bond Screened UCITS ETF USD Distributing (USDC.L) and L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USDC.L achieves a -2.14% return, which is significantly lower than BCOM.L's 20.90% return.

USDC.L

• 1D: 0.12%
• 1M: -0.69%
• 6M: -2.91%
• YTD: -2.14%
• 1Y: 2.26%
• 3Y*: 4.32%
• 5Y*: 0.12%
• 10Y*: —

BCOM.L

• 1D: 0.64%
• 1M: 2.17%
• 6M: 16.01%
• YTD: 20.90%
• 1Y: 30.69%
• 3Y*: 12.81%
• 5Y*: 10.51%
• 10Y*: —

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

USDC.L vs. BCOM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD Distributing	-2.14%	7.42%	3.13%	8.35%	-13.91%	-0.43%
BCOM.L L&G All Commodities UCITS ETF - USD Accumulating ETF	20.90%	16.19%	4.43%	-7.25%	15.63%	22.21%

Correlation

The correlation between USDC.L and BCOM.L is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.26
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021	-0.01

Over the past year, the inverse relationship between USDC.L and BCOM.L has strengthened: their correlation has moved from -0.01 to -0.26, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

USDC.L vs. BCOM.L — Risk / Return Rank

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

USDC.L

USDC.L Risk / Return Rank: 15
USDC.L Sharpe Ratio Rank: 16
USDC.L Sortino Ratio Rank: 13
USDC.L Omega Ratio Rank: 15
USDC.L Calmar Ratio Rank: 15
USDC.L Martin Ratio Rank: 15

BCOM.L

BCOM.L Risk / Return Rank: 59
BCOM.L Sharpe Ratio Rank: 68
BCOM.L Sortino Ratio Rank: 61
BCOM.L Omega Ratio Rank: 66
BCOM.L Calmar Ratio Rank: 51
BCOM.L 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.

USDC.L vs. BCOM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G USD Corporate Bond Screened UCITS ETF USD Distributing (USDC.L) and L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.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.

	USDC.L	BCOM.L	Difference
Sharpe ratio: Return per unit of total volatility	0.38	1.78	-1.40
Sortino ratio: Return per unit of downside risk	0.51	2.33	-1.82
Omega ratio: Gain probability vs. loss probability	1.08	1.32	-0.24
Calmar ratio: Return relative to maximum drawdown	0.46	2.10	-1.65
Martin ratio: Return relative to average drawdown	1.07	6.65	-5.59

USDC.L vs. BCOM.L - Sharpe Ratio Comparison

The current USDC.L Sharpe Ratio is 0.38, which is lower than the BCOM.L Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of USDC.L and BCOM.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.

Drawdowns

USDC.L vs. BCOM.L - Drawdown Comparison

The maximum USDC.L drawdown since its inception was -20.07%, smaller than the maximum BCOM.L drawdown of -31.65%. Use the drawdown chart below to compare losses from any high point for USDC.L and BCOM.L.

Drawdown Indicators

	USDC.L	BCOM.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-31.65%	+11.58%
Max Drawdown (1Y) Largest decline over 1 year	-4.92%	-14.33%	+9.41%
Max Drawdown (3Y) Largest decline over 3 years	-4.92%	-14.33%	+9.41%
Max Drawdown (5Y) Largest decline over 5 years	-20.07%	-26.27%	+6.20%
Current Drawdown Current decline from peak	-2.91%	-8.29%	+5.38%
Average Drawdown Average peak-to-trough decline	-6.76%	-11.63%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	4.53%	-2.42%

Volatility

USDC.L vs. BCOM.L - Volatility Comparison

The current volatility for L&G USD Corporate Bond Screened UCITS ETF USD Distributing (USDC.L) is 1.13%, while L&G All Commodities UCITS ETF - USD Accumulating ETF (BCOM.L) has a volatility of 4.53%. This indicates that USDC.L experiences smaller price fluctuations and is considered to be less risky than BCOM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USDC.L	BCOM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	4.53%	-3.40%
Volatility (6M) Calculated over the trailing 6-month period	4.95%	14.82%	-9.87%
Volatility (1Y) Calculated over the trailing 1-year period	5.88%	16.93%	-11.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.28%	16.81%	-10.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.13%	15.35%	-9.22%

USDC.L vs. BCOM.L - Expense Ratio Comparison

USDC.L has a 0.09% expense ratio, which is lower than BCOM.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

USDC.L vs. BCOM.L - Dividend Comparison

USDC.L's dividend yield for the trailing twelve months is around 2.32%, while BCOM.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BCOM.L L&G All Commodities UCITS ETF - USD Accumulating ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD Distributing	2.32%	4.47%	4.08%	3.24%	2.36%	0.78%

Frequently Asked Questions

Can I hold both USDC.L and BCOM.L in my portfolio?

USDC.L and BCOM.L have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USDC.L or BCOM.L?

On fees, USDC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USDC.L or BCOM.L?

USDC.L is cheaper with a 0.09% expense ratio, compared with 0.15% for BCOM.L.

What is the main difference between USDC.L and BCOM.L?

USDC.L is categorized as Corporate Bonds, while BCOM.L is Commodities. USDC.L tracks L&G USD Corporate Bond Screened UCITS ETF USD Distributing, while BCOM.L tracks Bloomberg Commodity Index Total Return. Their fees differ too: 0.09% for USDC.L and 0.15% for BCOM.L.