WCOB.L vs. DBC

Last updated Apr 2, 2026

Compare and contrast key facts about WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) and Invesco DB Commodity Index Tracking Fund (DBC).

WCOB.L and DBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WCOB.L is a passively managed fund by WisdomTree that tracks the performance of the Optimised Roll Commodity. It was launched on Apr 27, 2016. DBC is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Diversified Commodity Index Excess Return. It was launched on Feb 3, 2006. Both WCOB.L and DBC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

WCOB.L vs. DBC - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) and Invesco DB Commodity Index Tracking Fund (DBC). The values are adjusted to include any dividend payments, if applicable.

WCOB.L vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc	27.16%	7.73%	4.50%	-12.06%	25.92%	28.89%	-3.11%	3.86%	-3.43%	-3.53%
DBC Invesco DB Commodity Index Tracking Fund	30.38%	0.40%	3.97%	-10.88%	33.53%	42.70%	-10.54%	7.58%	-6.39%	0.71%

Different Trading Currencies

WCOB.L is traded in GBp, while DBC is traded in USD. To make them comparable, the DBC values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, WCOB.L achieves a 27.16% return, which is significantly lower than DBC's 30.38% return.

WCOB.L

• 1D: -2.23%
• 1M: 9.48%
• YTD: 27.16%
• 6M: 33.14%
• 1Y: 31.17%
• 3Y*: 10.27%
• 5Y*: 14.23%
• 10Y*: —

DBC

• 1D: -1.16%
• 1M: 12.38%
• YTD: 30.38%
• 6M: 34.04%
• 1Y: 28.39%
• 3Y*: 8.70%
• 5Y*: 15.28%
• 10Y*: 10.80%

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

WCOB.L vs. DBC - Expense Ratio Comparison

WCOB.L has a 0.35% expense ratio, which is lower than DBC's 0.85% expense ratio.

DBC

Invesco DB Commodity Index Tracking Fund

WCOB.L

WisdomTree Enhanced Commodity UCITS ETF USD Acc

Return for Risk

WCOB.L vs. DBC — Risk / Return Rank

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

WCOB.L

WCOB.L Risk / Return Rank: 89
WCOB.L Sharpe Ratio Rank: 88
WCOB.L Sortino Ratio Rank: 90
WCOB.L Omega Ratio Rank: 87
WCOB.L Calmar Ratio Rank: 95
WCOB.L Martin Ratio Rank: 87

DBC

DBC Risk / Return Rank: 81
DBC Sharpe Ratio Rank: 84
DBC Sortino Ratio Rank: 84
DBC Omega Ratio Rank: 78
DBC Calmar Ratio Rank: 88
DBC Martin Ratio Rank: 70

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.

WCOB.L vs. DBC - 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 Invesco DB Commodity Index Tracking Fund (DBC). 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.

	WCOB.L	DBC	Difference
Sharpe ratio Return per unit of total volatility	1.95	1.43	+0.52
Sortino ratio Return per unit of downside risk	2.63	1.97	+0.66
Omega ratio Gain probability vs. loss probability	1.37	1.26	+0.10
Calmar ratio Return relative to maximum drawdown	4.46	2.50	+1.96
Martin ratio Return relative to average drawdown	11.23	5.37	+5.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCOB.L vs. DBC - Sharpe Ratio Comparison

The current WCOB.L Sharpe Ratio is 1.95, which is higher than the DBC Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of WCOB.L and DBC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WCOB.L	DBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.43	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.80	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.21	+0.45

Correlation

The correlation between WCOB.L and DBC is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

WCOB.L vs. DBC - Dividend Comparison

WCOB.L has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.59%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBC Invesco DB Commodity Index Tracking Fund	2.59%	3.33%	5.22%	4.94%	0.59%	0.00%	0.00%	1.59%	1.30%

Drawdowns

WCOB.L vs. DBC - Drawdown Comparison

The maximum WCOB.L drawdown since its inception was -27.14%, smaller than the maximum DBC drawdown of -63.65%. Use the drawdown chart below to compare losses from any high point for WCOB.L and DBC.

Drawdown Indicators

	WCOB.L	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-27.14%	-76.36%	+49.22%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-10.99%	+2.87%
Max Drawdown (5Y) Largest decline over 5 years	-27.14%	-27.34%	+0.20%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.71%	—
Current Drawdown Current decline from peak	-2.23%	-25.80%	+23.57%
Average Drawdown Average peak-to-trough decline	-11.94%	-46.42%	+34.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	4.27%	-1.50%

Volatility

WCOB.L vs. DBC - Volatility Comparison

The current volatility for WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) is 7.77%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 9.69%. This indicates that WCOB.L experiences smaller price fluctuations and is considered to be less risky than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCOB.L	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	9.69%	-1.92%
Volatility (6M) Calculated over the trailing 6-month period	12.71%	14.50%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	19.97%	-4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.92%	19.08%	-4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.63%	18.37%	-2.74%