WCOB.L vs. IBTL
WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) and IBTL (iShares iBonds Dec 2031 Term Treasury ETF) are both exchange-traded funds - WCOB.L is a Commodities fund tracking the Optimised Roll Commodity, while IBTL is a Government Bonds fund tracking the ICE 2031 Maturity US Treasury Index. Both are passively managed. Over the past 3 years, WCOB.L returned 10.77%/yr vs 1.54%/yr for IBTL. At a 0.08 correlation, their price movements are largely independent. WCOB.L charges 0.35%/yr vs 0.07%/yr for IBTL.
Performance
WCOB.L vs. IBTL - Performance Comparison
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Different Trading Currencies
WCOB.L is traded in GBp, while IBTL is traded in USD. To make them comparable, the IBTL 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 23.50% return, which is significantly higher than IBTL's 0.23% 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%
IBTL
- 1D
- -0.02%
- 1M
- 0.07%
- YTD
- 0.23%
- 6M
- -0.14%
- 1Y
- 5.17%
- 3Y*
- 1.54%
- 5Y*
- —
- 10Y*
- —
WCOB.L vs. IBTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 23.50% | 7.73% | 4.50% | -12.06% | 26.46% | 6.82% |
IBTL iShares iBonds Dec 2031 Term Treasury ETF | 0.23% | 0.16% | 2.11% | -1.58% | -5.56% | 0.40% |
Correlation
The correlation between WCOB.L and IBTL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2021 | 0.08 |
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Return for Risk
WCOB.L vs. IBTL — Risk / Return Rank
WCOB.L
IBTL
WCOB.L vs. IBTL - 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 iBonds Dec 2031 Term Treasury ETF (IBTL). 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 | IBTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.15 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 0.89 | +2.58 |
| Martin ratioReturn relative to average drawdown | 10.87 | 2.29 | +8.59 |
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Drawdowns
WCOB.L vs. IBTL - Drawdown Comparison
The maximum WCOB.L drawdown since its inception was -33.06%, which is greater than IBTL's maximum drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for WCOB.L and IBTL.
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Drawdown Indicators
| WCOB.L | IBTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.06% | -16.06% | -17.00% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -5.81% | -3.62% |
Max Drawdown (3Y)Largest decline over 3 years | -26.20% | -7.19% | -19.01% |
Max Drawdown (5Y)Largest decline over 5 years | -27.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.14% | — | — |
Current DrawdownCurrent decline from peak | -9.43% | -9.49% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -17.94% | -9.21% | -8.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.27% | +0.75% |
Volatility
WCOB.L vs. IBTL - Volatility Comparison
WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) has a higher volatility of 4.81% compared to iShares iBonds Dec 2031 Term Treasury ETF (IBTL) at 0.94%. This indicates that WCOB.L's price experiences larger fluctuations and is considered to be riskier than IBTL 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 | IBTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 0.94% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 15.68% | 4.74% | +10.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 6.26% | +11.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.42% | 9.46% | +10.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.88% | 9.46% | +7.42% |
WCOB.L vs. IBTL - Expense Ratio Comparison
WCOB.L has a 0.35% expense ratio, which is higher than IBTL's 0.07% expense ratio.
Dividends
WCOB.L vs. IBTL - Dividend Comparison
WCOB.L has not paid dividends to shareholders, while IBTL's dividend yield for the trailing twelve months is around 3.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBTL iShares iBonds Dec 2031 Term Treasury ETF | 3.96% | 3.93% | 4.07% | 3.04% | 2.36% | 0.70% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WCOB.L and IBTL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTL is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTL is cheaper with a 0.07% expense ratio, compared with 0.35% for WCOB.L.
WCOB.L is categorized as Commodities, while IBTL is Government Bonds. WCOB.L tracks Optimised Roll Commodity, while IBTL tracks ICE 2031 Maturity US Treasury Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.35% for WCOB.L and 0.07% for IBTL.
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