WOSC.L vs. DBC
WOSC.L (SPDR MSCI World Small Cap UCITS ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - WOSC.L is a Global Equities fund tracking the MSCI ACWI SMID NR USD, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 10 years, WOSC.L returned 10.89%/yr vs 9.64%/yr for DBC. At a 0.25 correlation, their price movements are largely independent. WOSC.L charges 0.45%/yr vs 0.85%/yr for DBC.
Performance
WOSC.L vs. DBC - Performance Comparison
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Different Trading Currencies
WOSC.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, WOSC.L achieves a 14.25% return, which is significantly lower than DBC's 34.17% return. Over the past 10 years, WOSC.L has outperformed DBC with an annualized return of 10.89%, while DBC has yielded a comparatively lower 9.64% annualized return.
WOSC.L
- 1D
- 0.61%
- 1M
- 4.16%
- YTD
- 14.25%
- 6M
- 14.68%
- 1Y
- 33.55%
- 3Y*
- 14.89%
- 5Y*
- 8.02%
- 10Y*
- 10.89%
DBC
- 1D
- -1.35%
- 1M
- -3.35%
- YTD
- 34.17%
- 6M
- 32.26%
- 1Y
- 45.86%
- 3Y*
- 11.79%
- 5Y*
- 13.69%
- 10Y*
- 9.64%
WOSC.L vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WOSC.L SPDR MSCI World Small Cap UCITS ETF | 14.25% | 11.76% | 9.41% | 9.96% | -8.76% | 16.26% | 12.23% | 22.09% | -9.72% | 11.06% |
DBC Invesco DB Commodity Index Tracking Fund | 34.17% | 0.40% | 3.97% | -10.88% | 33.53% | 42.70% | -10.54% | 7.58% | -6.39% | -4.21% |
Correlation
The correlation between WOSC.L and DBC 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 | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2013 | 0.25 |
The correlation between WOSC.L and DBC shifts across timeframes, from -0.13 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WOSC.L vs. DBC — Risk / Return Rank
WOSC.L
DBC
WOSC.L vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Small Cap UCITS ETF (WOSC.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.
| WOSC.L | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.39 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.26 | 5.65 | -1.39 |
| Martin ratioReturn relative to average drawdown | 16.37 | 13.01 | +3.36 |
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
| WOSC.L | DBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 2.24 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.71 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.52 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.22 | +0.32 |
Drawdowns
WOSC.L vs. DBC - Drawdown Comparison
The maximum WOSC.L drawdown since its inception was -36.13%, smaller than the maximum DBC drawdown of -63.65%. Use the drawdown chart below to compare losses from any high point for WOSC.L and DBC.
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Drawdown Indicators
| WOSC.L | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.13% | -63.65% | +27.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.83% | -8.15% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -21.43% | -19.12% | -2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -21.43% | -31.15% | +9.72% |
Max Drawdown (10Y)Largest decline over 10 years | -36.13% | -39.27% | +3.14% |
Current DrawdownCurrent decline from peak | 0.00% | -5.61% | +5.61% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -32.83% | +27.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 3.54% | -1.50% |
Volatility
WOSC.L vs. DBC - Volatility Comparison
The current volatility for SPDR MSCI World Small Cap UCITS ETF (WOSC.L) is 3.44%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.16%. This indicates that WOSC.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.
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Volatility by Period
| WOSC.L | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 7.16% | -3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 9.29% | 16.90% | -7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 20.61% | -7.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.69% | 19.40% | -3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.88% | 18.52% | +2.36% |
WOSC.L vs. DBC - Expense Ratio Comparison
WOSC.L has a 0.45% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
WOSC.L vs. DBC - Dividend Comparison
WOSC.L has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.49% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
WOSC.L SPDR MSCI World Small Cap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WOSC.L and DBC 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.
On fees, WOSC.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WOSC.L is cheaper with a 0.45% expense ratio, compared with 0.85% for DBC.
WOSC.L is categorized as Global Equities, while DBC is Commodities. WOSC.L tracks MSCI ACWI SMID NR USD, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.45% for WOSC.L and 0.85% for DBC.
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