WCOB.L vs. CNX1.L
WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) and CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) are both exchange-traded funds - WCOB.L is a Commodities fund tracking the Optimised Roll Commodity, while CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, WCOB.L returned 8.06%/yr vs 22.65%/yr for CNX1.L. At a 0.22 correlation, their price movements are largely independent. WCOB.L charges 0.35%/yr vs 0.36%/yr for CNX1.L.
Performance
WCOB.L vs. CNX1.L - Performance Comparison
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Returns By Period
In the year-to-date period, WCOB.L achieves a 23.50% return, which is significantly higher than CNX1.L's 19.38% return. Over the past 10 years, WCOB.L has underperformed CNX1.L with an annualized return of 8.06%, while CNX1.L has yielded a comparatively higher 22.65% annualized return.
WCOB.L
- 1D
- -0.86%
- 1M
- -8.75%
- YTD
- 23.50%
- 6M
- 26.72%
- 1Y
- 32.96%
- 3Y*
- 10.77%
- 5Y*
- 11.80%
- 10Y*
- 8.06%
CNX1.L
- 1D
- -0.76%
- 1M
- 2.71%
- YTD
- 19.38%
- 6M
- 21.07%
- 1Y
- 39.79%
- 3Y*
- 24.39%
- 5Y*
- 17.66%
- 10Y*
- 22.65%
WCOB.L vs. CNX1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 23.50% | 7.73% | 4.50% | -12.06% | 26.46% | 28.35% | -2.13% | 3.31% | -3.90% | -4.31% |
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 19.38% | 11.57% | 28.51% | 47.71% | -25.53% | 29.50% | 43.24% | 33.63% | 4.62% | 20.13% |
Correlation
The correlation between WCOB.L and CNX1.L is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2016 | 0.22 |
The correlation between WCOB.L and CNX1.L shifts across timeframes, from -0.05 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WCOB.L vs. CNX1.L — Risk / Return Rank
WCOB.L
CNX1.L
WCOB.L vs. CNX1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) and iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.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.
| WCOB.L | CNX1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.45 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.59 | -0.11 |
| Martin ratioReturn relative to average drawdown | 10.87 | 10.43 | +0.44 |
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Drawdowns
WCOB.L vs. CNX1.L - Drawdown Comparison
The maximum WCOB.L drawdown since its inception was -33.06%, which is greater than CNX1.L's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for WCOB.L and CNX1.L.
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Drawdown Indicators
| WCOB.L | CNX1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.06% | -27.56% | -5.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -11.03% | +1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -26.20% | -24.56% | -1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -27.14% | -27.56% | +0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -27.14% | -27.56% | +0.42% |
Current DrawdownCurrent decline from peak | -9.43% | -1.01% | -8.42% |
Average DrawdownAverage peak-to-trough decline | -17.94% | -4.91% | -13.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 3.80% | -0.78% |
Volatility
WCOB.L vs. CNX1.L - Volatility Comparison
The current volatility for WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) is 4.81%, while iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) has a volatility of 6.15%. This indicates that WCOB.L experiences smaller price fluctuations and is considered to be less risky than CNX1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCOB.L | CNX1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 6.15% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 15.68% | 11.45% | +4.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 15.50% | +2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.42% | 30.34% | -9.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.88% | 25.53% | -8.65% |
WCOB.L vs. CNX1.L - Expense Ratio Comparison
WCOB.L has a 0.35% expense ratio, which is lower than CNX1.L's 0.36% expense ratio.
Dividends
WCOB.L vs. CNX1.L - Dividend Comparison
Neither WCOB.L nor CNX1.L has paid dividends to shareholders.
Frequently Asked Questions
WCOB.L and CNX1.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WCOB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WCOB.L is cheaper with a 0.35% expense ratio, compared with 0.36% for CNX1.L.
WCOB.L is categorized as Commodities, while CNX1.L is Nasdaq-100. WCOB.L tracks Optimised Roll Commodity, while CNX1.L tracks NASDAQ-100 Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.35% for WCOB.L and 0.36% for CNX1.L.
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