WRDA.L vs. CXAP.L
WRDA.L (UBS Core MSCI World UCITS ETF USD Acc) and CXAP.L (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc) are both exchange-traded funds - WRDA.L is a Global Equities fund tracking the MSCI World Index, while CXAP.L is a Commodities fund tracking the UBS CMCI Ex Agriculture Ex Livestock Capped. Both are passively managed. Over the past year, WRDA.L returned 26.06% vs 34.02% for CXAP.L. At a 0.11 correlation, their price movements are largely independent. WRDA.L charges 0.06%/yr vs 0.34%/yr for CXAP.L.
Performance
WRDA.L vs. CXAP.L - Performance Comparison
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Returns By Period
In the year-to-date period, WRDA.L achieves a 9.82% return, which is significantly lower than CXAP.L's 17.78% return.
WRDA.L
- 1D
- 0.00%
- 1M
- 0.79%
- YTD
- 9.82%
- 6M
- 9.92%
- 1Y
- 26.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CXAP.L
- 1D
- -1.45%
- 1M
- -6.09%
- YTD
- 17.78%
- 6M
- 18.07%
- 1Y
- 34.02%
- 3Y*
- 13.61%
- 5Y*
- 12.70%
- 10Y*
- 10.45%
WRDA.L vs. CXAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
WRDA.L UBS Core MSCI World UCITS ETF USD Acc | 9.82% | 12.77% | 20.02% |
CXAP.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc | 17.78% | 10.65% | 7.70% |
Correlation
The correlation between WRDA.L and CXAP.L is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | 0.11 |
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Return for Risk
WRDA.L vs. CXAP.L — Risk / Return Rank
WRDA.L
CXAP.L
WRDA.L vs. CXAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS Core MSCI World UCITS ETF USD Acc (WRDA.L) and UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (CXAP.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.
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.
| WRDA.L | CXAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.33 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 3.85 | -2.90 |
| Martin ratioReturn relative to average drawdown | 1.42 | 13.36 | -11.94 |
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Drawdowns
WRDA.L vs. CXAP.L - Drawdown Comparison
The maximum WRDA.L drawdown since its inception was -27.39%, smaller than the maximum CXAP.L drawdown of -31.30%. Use the drawdown chart below to compare losses from any high point for WRDA.L and CXAP.L.
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Drawdown Indicators
| WRDA.L | CXAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.39% | -31.30% | +3.91% |
Max Drawdown (1Y)Largest decline over 1 year | -27.39% | -7.46% | -19.93% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.30% | — |
Current DrawdownCurrent decline from peak | -16.67% | -7.46% | -9.21% |
Average DrawdownAverage peak-to-trough decline | -7.98% | -8.19% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.33% | 2.16% | +16.17% |
Volatility
WRDA.L vs. CXAP.L - Volatility Comparison
The current volatility for UBS Core MSCI World UCITS ETF USD Acc (WRDA.L) is 3.18%, while UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (CXAP.L) has a volatility of 3.83%. This indicates that WRDA.L experiences smaller price fluctuations and is considered to be less risky than CXAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WRDA.L | CXAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 3.83% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 7.69% | 12.92% | -5.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.19% | 15.63% | +27.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.78% | 16.27% | +13.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.78% | 15.72% | +14.06% |
WRDA.L vs. CXAP.L - Expense Ratio Comparison
WRDA.L has a 0.06% expense ratio, which is lower than CXAP.L's 0.34% expense ratio.
Dividends
WRDA.L vs. CXAP.L - Dividend Comparison
Neither WRDA.L nor CXAP.L has paid dividends to shareholders.
Frequently Asked Questions
WRDA.L and CXAP.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WRDA.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WRDA.L is cheaper with a 0.06% expense ratio, compared with 0.34% for CXAP.L.
WRDA.L is categorized as Global Equities, while CXAP.L is Commodities. WRDA.L tracks MSCI World Index, while CXAP.L tracks UBS CMCI Ex Agriculture Ex Livestock Capped. Their fees differ too: 0.06% for WRDA.L and 0.34% for CXAP.L.
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