WCOG.L vs. SGLN.L
WCOG.L (WisdomTree Enhanced Commodity UCITS ETF USD) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - WCOG.L is a Commodities fund tracking the Optimised Roll Commodity, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, WCOG.L returned 8.85%/yr vs 14.27%/yr for SGLN.L. At a 0.39 correlation, their price movements are largely independent. WCOG.L charges 0.35%/yr vs 0.12%/yr for SGLN.L.
Performance
WCOG.L vs. SGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, WCOG.L achieves a 31.19% return, which is significantly higher than SGLN.L's 3.89% return. Over the past 10 years, WCOG.L has underperformed SGLN.L with an annualized return of 8.85%, while SGLN.L has yielded a comparatively higher 14.27% 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%
SGLN.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.89%
- 6M
- 5.42%
- 1Y
- 33.75%
- 3Y*
- 28.17%
- 5Y*
- 20.12%
- 10Y*
- 14.27%
WCOG.L vs. SGLN.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% |
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between WCOG.L and SGLN.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.39 |
Over the past year, the correlation between WCOG.L and SGLN.L has dropped to 0.19 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
WCOG.L vs. SGLN.L — Risk / Return Rank
WCOG.L
SGLN.L
WCOG.L vs. SGLN.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 iShares Physical Gold ETC (SGLN.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 | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.29 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 6.62 | 1.91 | +4.71 |
| Martin ratioReturn relative to average drawdown | 16.47 | 5.05 | +11.42 |
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 | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 1.45 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 1.23 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.90 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.55 | +0.10 |
Drawdowns
WCOG.L vs. SGLN.L - Drawdown Comparison
The maximum WCOG.L drawdown since its inception was -27.05%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for WCOG.L and SGLN.L.
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Drawdown Indicators
| WCOG.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.05% | -41.71% | +14.66% |
Max Drawdown (1Y)Largest decline over 1 year | -6.82% | -17.57% | +10.75% |
Max Drawdown (3Y)Largest decline over 3 years | -13.63% | -17.57% | +3.94% |
Max Drawdown (5Y)Largest decline over 5 years | -27.05% | -17.57% | -9.48% |
Max Drawdown (10Y)Largest decline over 10 years | -27.05% | -21.91% | -5.14% |
Current DrawdownCurrent decline from peak | -3.73% | -16.01% | +12.28% |
Average DrawdownAverage peak-to-trough decline | -10.98% | -14.76% | +3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 6.67% | -3.92% |
Volatility
WCOG.L vs. SGLN.L - Volatility Comparison
WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) has a higher volatility of 6.08% compared to iShares Physical Gold ETC (SGLN.L) at 5.08%. This indicates that WCOG.L's price experiences larger fluctuations and is considered to be riskier than SGLN.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 | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 5.08% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 15.70% | 20.08% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.93% | 23.19% | -5.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 16.30% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.02% | 15.78% | -1.76% |
WCOG.L vs. SGLN.L - Expense Ratio Comparison
WCOG.L has a 0.35% expense ratio, which is higher than SGLN.L's 0.12% expense ratio.
Dividends
WCOG.L vs. SGLN.L - Dividend Comparison
WCOG.L's dividend yield for the trailing twelve months is around 2.68%, while SGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 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 SGLN.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.35% for WCOG.L.
WCOG.L is categorized as Commodities, while SGLN.L is Gold. WCOG.L tracks Optimised Roll Commodity, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.35% for WCOG.L and 0.12% for SGLN.L.
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