WCOG.L vs. COPA.L
WCOG.L (WisdomTree Enhanced Commodity UCITS ETF USD) and COPA.L (WisdomTree Copper) are both exchange-traded funds - WCOG.L is a Commodities fund tracking the Optimised Roll Commodity, while COPA.L is a Metals fund tracking the Bloomberg Copper Subindex. Both are passively managed. Over the past 10 years, WCOG.L returned 8.85%/yr vs 11.12%/yr for COPA.L. At a 0.43 correlation, their price movements are largely independent. WCOG.L charges 0.35%/yr vs 0.49%/yr for COPA.L.
Performance
WCOG.L vs. COPA.L - Performance Comparison
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Different Trading Currencies
WCOG.L is traded in GBp, while COPA.L is traded in USD. To make them comparable, the COPA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, WCOG.L achieves a 31.19% return, which is significantly higher than COPA.L's 14.05% return. Over the past 10 years, WCOG.L has underperformed COPA.L with an annualized return of 8.85%, while COPA.L has yielded a comparatively higher 11.12% annualized return.
WCOG.L
- 1D
- -1.18%
- 1M
- -1.93%
- YTD
- 31.19%
- 6M
- 31.55%
- 1Y
- 45.33%
- 3Y*
- 13.10%
- 5Y*
- 12.72%
- 10Y*
- 8.85%
COPA.L
- 1D
- 0.00%
- 1M
- 9.70%
- YTD
- 14.05%
- 6M
- 19.87%
- 1Y
- 31.14%
- 3Y*
- 15.98%
- 5Y*
- 8.15%
- 10Y*
- 11.12%
WCOG.L vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 31.19% | 7.94% | 4.45% | -12.14% | 26.35% | 28.38% | -2.08% | 3.07% | -3.67% | -4.31% |
COPA.L WisdomTree Copper | 14.40% | 26.65% | 6.64% | -2.47% | -3.31% | 25.53% | 17.85% | 0.91% | -15.65% | 15.87% |
Correlation
The correlation between WCOG.L and COPA.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.43 |
Over the past year, the correlation between WCOG.L and COPA.L has dropped to 0.17 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
WCOG.L vs. COPA.L — Risk / Return Rank
WCOG.L
COPA.L
WCOG.L vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) and WisdomTree Copper (COPA.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.
| WCOG.L | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.24 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 6.62 | 1.30 | +5.32 |
| Martin ratioReturn relative to average drawdown | 16.47 | 2.87 | +13.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WCOG.L | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 0.96 | +1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.33 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.49 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.14 | +0.51 |
Drawdowns
WCOG.L vs. COPA.L - Drawdown Comparison
The maximum WCOG.L drawdown since its inception was -27.05%, smaller than the maximum COPA.L drawdown of -58.32%. Use the drawdown chart below to compare losses from any high point for WCOG.L and COPA.L.
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Drawdown Indicators
| WCOG.L | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.05% | -58.32% | +31.27% |
Max Drawdown (1Y)Largest decline over 1 year | -6.82% | -23.82% | +17.00% |
Max Drawdown (3Y)Largest decline over 3 years | -13.63% | -23.82% | +10.19% |
Max Drawdown (5Y)Largest decline over 5 years | -27.05% | -26.80% | -0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -27.05% | -31.28% | +4.23% |
Current DrawdownCurrent decline from peak | -3.73% | -2.27% | -1.46% |
Average DrawdownAverage peak-to-trough decline | -10.98% | -25.46% | +14.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 10.84% | -8.09% |
Volatility
WCOG.L vs. COPA.L - Volatility Comparison
The current volatility for WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) is 6.08%, while WisdomTree Copper (COPA.L) has a volatility of 8.17%. This indicates that WCOG.L experiences smaller price fluctuations and is considered to be less risky than COPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCOG.L | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 8.17% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.70% | 17.79% | -2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.93% | 32.35% | -14.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 24.65% | -9.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.02% | 22.69% | -8.67% |
WCOG.L vs. COPA.L - Expense Ratio Comparison
WCOG.L has a 0.35% expense ratio, which is lower than COPA.L's 0.49% expense ratio.
Dividends
WCOG.L vs. COPA.L - Dividend Comparison
WCOG.L's dividend yield for the trailing twelve months is around 2.68%, while COPA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
COPA.L WisdomTree Copper | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 2.68% | 4.56% | 4.54% | 0.65% | 0.00% | 0.30% | 1.64% | 1.64% | 0.46% |
Frequently Asked Questions
WCOG.L and COPA.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WCOG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WCOG.L is cheaper with a 0.35% expense ratio, compared with 0.49% for COPA.L.
WCOG.L is categorized as Commodities, while COPA.L is Metals. WCOG.L tracks Optimised Roll Commodity, while COPA.L tracks Bloomberg Copper Subindex. Their fees differ too: 0.35% for WCOG.L and 0.49% for COPA.L.
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