WDEF.L vs. SOYO.L

Last updated Jun 4, 2026

WDEF.L (WisdomTree Europe Defence UCITS ETF - EUR Acc EUR) and SOYO.L (WisdomTree Soybean Oil) are both exchange-traded funds - WDEF.L is a Aerospace & Defense fund tracking the WisdomTree Europe Defence UCITS Index, while SOYO.L is a Agricultural Commodities fund tracking the Bloomberg Soybean Oil. Both are passively managed. Over the past 5 years, WDEF.L returned 5.18%/yr vs 8.42%/yr for SOYO.L. At a 0.04 correlation, their price movements are largely independent. WDEF.L charges 0.40%/yr vs 0.49%/yr for SOYO.L.

Performance

WDEF.L vs. SOYO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) and WisdomTree Soybean Oil (SOYO.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WDEF.L is traded in EUR, while SOYO.L is traded in USD. To make them comparable, the SOYO.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, WDEF.L achieves a 0.87% return, which is significantly lower than SOYO.L's 62.89% return.

WDEF.L

• 1D: -1.17%
• 1M: -3.03%
• YTD: 0.87%
• 6M: 5.27%
• 1Y: -5.08%
• 3Y*: 9.89%
• 5Y*: 5.18%
• 10Y*: —

SOYO.L

• 1D: 1.09%
• 1M: 6.46%
• YTD: 62.89%
• 6M: 52.30%
• 1Y: 64.65%
• 3Y*: 16.96%
• 5Y*: 8.42%
• 10Y*: 9.75%

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

WDEF.L vs. SOYO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WDEF.L WisdomTree Europe Defence UCITS ETF - EUR Acc EUR	0.87%	26.22%	-2.46%	20.25%	-19.48%	26.65%	3.41%	37.42%	-17.34%	4.40%
SOYO.L WisdomTree Soybean Oil	62.89%	6.58%	-10.65%	-23.23%	39.76%	60.85%	3.69%	21.78%	-14.93%	-4.43%

Correlation

The correlation between WDEF.L and SOYO.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 2, 2017	0.04

The correlation between WDEF.L and SOYO.L shifts across timeframes, from -0.13 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

WDEF.L vs. SOYO.L - Sectors Allocation Comparison

Sectors	WDEF.L	SOYO.L
Industrials	89.7%	-
Technology	3.2%	100.0%
Communication Services	0.4%	-
Healthcare	0.1%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

WDEF.L vs. SOYO.L — Risk / Return Rank

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

WDEF.L

WDEF.L Risk / Return Rank: 9
WDEF.L Sharpe Ratio Rank: 8
WDEF.L Sortino Ratio Rank: 12
WDEF.L Omega Ratio Rank: 14
WDEF.L Calmar Ratio Rank: 7
WDEF.L Martin Ratio Rank: 6

SOYO.L

SOYO.L Risk / Return Rank: 78
SOYO.L Sharpe Ratio Rank: 87
SOYO.L Sortino Ratio Rank: 85
SOYO.L Omega Ratio Rank: 79
SOYO.L Calmar Ratio Rank: 84
SOYO.L Martin Ratio Rank: 56

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.

WDEF.L vs. SOYO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) and WisdomTree Soybean Oil (SOYO.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.

	WDEF.L	SOYO.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	2.57	-2.64
Sortino ratio: Return per unit of downside risk	0.47	3.45	-2.98
Omega ratio: Gain probability vs. loss probability	1.08	1.42	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.19	3.72	-3.92
Martin ratio: Return relative to average drawdown	-0.53	7.62	-8.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WDEF.L vs. SOYO.L - Sharpe Ratio Comparison

The current WDEF.L Sharpe Ratio is -0.07, which is lower than the SOYO.L Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of WDEF.L and SOYO.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WDEF.L	SOYO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	2.57	-2.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.28	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.11	+0.22

Drawdowns

WDEF.L vs. SOYO.L - Drawdown Comparison

The maximum WDEF.L drawdown since its inception was -35.48%, smaller than the maximum SOYO.L drawdown of -74.86%. Use the drawdown chart below to compare losses from any high point for WDEF.L and SOYO.L.

Drawdown Indicators

	WDEF.L	SOYO.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.48%	-74.86%	+39.38%
Max Drawdown (1Y) Largest decline over 1 year	-25.81%	-17.28%	-8.53%
Max Drawdown (3Y) Largest decline over 3 years	-25.81%	-40.40%	+14.59%
Max Drawdown (5Y) Largest decline over 5 years	-30.24%	-49.48%	+19.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.48%	—
Current Drawdown Current decline from peak	-14.92%	-3.27%	-11.65%
Average Drawdown Average peak-to-trough decline	-8.34%	-47.43%	+39.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.11%	8.46%	+0.65%

Volatility

WDEF.L vs. SOYO.L - Volatility Comparison

WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) has a higher volatility of 10.75% compared to WisdomTree Soybean Oil (SOYO.L) at 7.24%. This indicates that WDEF.L's price experiences larger fluctuations and is considered to be riskier than SOYO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDEF.L	SOYO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.75%	7.24%	+3.51%
Volatility (6M) Calculated over the trailing 6-month period	64.30%	17.54%	+46.76%
Volatility (1Y) Calculated over the trailing 1-year period	73.62%	25.08%	+48.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.70%	30.44%	+12.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.66%	25.96%	+15.70%

WDEF.L vs. SOYO.L - Expense Ratio Comparison

WDEF.L has a 0.40% expense ratio, which is lower than SOYO.L's 0.49% expense ratio.

Dividends

WDEF.L vs. SOYO.L - Dividend Comparison

Neither WDEF.L nor SOYO.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WDEF.L and SOYO.L in my portfolio?

WDEF.L and SOYO.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WDEF.L or SOYO.L?

On fees, WDEF.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WDEF.L or SOYO.L?

WDEF.L is cheaper with a 0.40% expense ratio, compared with 0.49% for SOYO.L.

What is the main difference between WDEF.L and SOYO.L?

WDEF.L is categorized as Aerospace & Defense, while SOYO.L is Agricultural Commodities. WDEF.L tracks WisdomTree Europe Defence UCITS Index, while SOYO.L tracks Bloomberg Soybean Oil. Their fees differ too: 0.40% for WDEF.L and 0.49% for SOYO.L.