WTEH.DE vs. CMOE.DE
WTEH.DE (WisdomTree Enhanced Commodity UCITS ETF (EUR Hedged) Acc) and CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) are both Commodities funds - WTEH.DE tracks the Optimized Roll Commodity (EUR Hedged) while CMOE.DE tracks the Bloomberg Commodity (EUR Hedged). Both are passively managed. Over the past 3 years, WTEH.DE returned 14.16%/yr vs 13.22%/yr for CMOE.DE. Their correlation of 0.94 suggests significant overlap in exposure. WTEH.DE charges 0.35%/yr vs 0.24%/yr for CMOE.DE.
Performance
WTEH.DE vs. CMOE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, WTEH.DE achieves a 28.87% return, which is significantly higher than CMOE.DE's 21.57% return.
WTEH.DE
- 1D
- -1.21%
- 1M
- -0.63%
- YTD
- 28.87%
- 6M
- 30.95%
- 1Y
- 40.23%
- 3Y*
- 14.16%
- 5Y*
- 9.32%
- 10Y*
- —
CMOE.DE
- 1D
- -1.32%
- 1M
- -1.55%
- YTD
- 21.57%
- 6M
- 21.82%
- 1Y
- 33.83%
- 3Y*
- 13.22%
- 5Y*
- —
- 10Y*
- —
WTEH.DE vs. CMOE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WTEH.DE WisdomTree Enhanced Commodity UCITS ETF (EUR Hedged) Acc | 28.87% | 14.12% | 1.38% | -8.99% | -1.00% |
CMOE.DE Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc | 21.57% | 14.96% | 2.92% | -9.62% | -0.48% |
Correlation
The correlation between WTEH.DE and CMOE.DE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.94 |
The correlation between WTEH.DE and CMOE.DE has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
WTEH.DE vs. CMOE.DE — Risk / Return Rank
WTEH.DE
CMOE.DE
WTEH.DE vs. CMOE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity UCITS ETF (EUR Hedged) Acc (WTEH.DE) and Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE). 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.
| WTEH.DE | CMOE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.93 | 4.49 | +2.44 |
| Martin ratioReturn relative to average drawdown | 15.94 | 10.26 | +5.68 |
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
| WTEH.DE | CMOE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 2.00 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.37 | +0.49 |
Drawdowns
WTEH.DE vs. CMOE.DE - Drawdown Comparison
The maximum WTEH.DE drawdown since its inception was -28.22%, smaller than the maximum CMOE.DE drawdown of -29.97%. Use the drawdown chart below to compare losses from any high point for WTEH.DE and CMOE.DE.
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Drawdown Indicators
| WTEH.DE | CMOE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.22% | -29.97% | +1.75% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -7.70% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -10.31% | -11.83% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -28.22% | — | — |
Current DrawdownCurrent decline from peak | -4.05% | -5.48% | +1.43% |
Average DrawdownAverage peak-to-trough decline | -14.64% | -19.33% | +4.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 3.38% | -0.80% |
Volatility
WTEH.DE vs. CMOE.DE - Volatility Comparison
WisdomTree Enhanced Commodity UCITS ETF (EUR Hedged) Acc (WTEH.DE) and Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) have volatilities of 5.17% and 5.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WTEH.DE | CMOE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.17% | 5.18% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.77% | 15.26% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 17.28% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 16.62% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.39% | 16.62% | -1.23% |
WTEH.DE vs. CMOE.DE - Expense Ratio Comparison
WTEH.DE has a 0.35% expense ratio, which is higher than CMOE.DE's 0.24% expense ratio.
Dividends
WTEH.DE vs. CMOE.DE - Dividend Comparison
Neither WTEH.DE nor CMOE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, WTEH.DE and CMOE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, CMOE.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOE.DE is cheaper with a 0.24% expense ratio, compared with 0.35% for WTEH.DE.
WTEH.DE tracks Optimized Roll Commodity (EUR Hedged), while CMOE.DE tracks Bloomberg Commodity (EUR Hedged). They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.35% for WTEH.DE and 0.24% for CMOE.DE.
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