WTMF vs. CMOD.L

Last updated Jun 13, 2026

WTMF (WisdomTree Managed Futures Strategy Fund) and CMOD.L (Invesco Bloomberg Commodity UCITS ETF) are both exchange-traded funds - WTMF is a Hedge Fund fund tracking the WisdomTree Managed Futures Index, while CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index. Both are passively managed. Over the past 5 years, WTMF returned 6.05%/yr vs 9.74%/yr for CMOD.L. At a 0.16 correlation, their price movements are largely independent. WTMF charges 0.65%/yr vs 0.19%/yr for CMOD.L.

Performance

WTMF vs. CMOD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Managed Futures Strategy Fund (WTMF) and Invesco Bloomberg Commodity UCITS ETF (CMOD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTMF achieves a 7.65% return, which is significantly lower than CMOD.L's 19.22% return.

WTMF

• 1D: 0.59%
• 1M: -0.91%
• YTD: 7.65%
• 6M: 7.62%
• 1Y: 20.55%
• 3Y*: 9.45%
• 5Y*: 6.05%
• 10Y*: 3.15%

CMOD.L

• 1D: -1.06%
• 1M: -8.02%
• YTD: 19.22%
• 6M: 20.80%
• 1Y: 27.62%
• 3Y*: 13.33%
• 5Y*: 9.74%
• 10Y*: —

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

WTMF vs. CMOD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WTMF WisdomTree Managed Futures Strategy Fund	7.65%	12.17%	3.20%	16.72%	-6.52%	9.48%	0.48%	-2.75%	0.24%	-2.03%
CMOD.L Invesco Bloomberg Commodity UCITS ETF	19.22%	16.16%	4.12%	-7.56%	14.50%	27.35%	-3.87%	6.64%	-10.22%	2.08%

Correlation

The correlation between WTMF and CMOD.L is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 9, 2017	0.16

The correlation between WTMF and CMOD.L shifts across timeframes, from 0.06 (3 years) to 0.16 (all time), reflecting how their relationship changes across market environments.

WTMF vs. CMOD.L - Sectors Allocation Comparison

Sectors	WTMF	CMOD.L
Industrials	17.7%	-
Technology	17.0%	5.6%
Healthcare	16.5%	-
Financial Services	15.8%	17.8%
Consumer Cyclical	8.4%	12.9%
Real Estate	6.1%	5.8%
Energy	6.1%	-
Basic Materials	4.8%	35.8%
Utilities	2.9%	-
Communication Services	2.4%	12.3%
Consumer Defensive	2.4%	9.7%

Return for Risk

WTMF vs. CMOD.L — Risk / Return Rank

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

WTMF

WTMF Risk / Return Rank: 86
WTMF Sharpe Ratio Rank: 82
WTMF Sortino Ratio Rank: 81
WTMF Omega Ratio Rank: 84
WTMF Calmar Ratio Rank: 91
WTMF Martin Ratio Rank: 93

CMOD.L

CMOD.L Risk / Return Rank: 59
CMOD.L Sharpe Ratio Rank: 59
CMOD.L Sortino Ratio Rank: 52
CMOD.L Omega Ratio Rank: 60
CMOD.L Calmar Ratio Rank: 69
CMOD.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.

WTMF vs. CMOD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Managed Futures Strategy Fund (WTMF) and Invesco Bloomberg Commodity UCITS ETF (CMOD.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.

	WTMF	CMOD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.73	+0.55
Sortino ratio: Return per unit of downside risk	3.11	2.23	+0.88
Omega ratio: Gain probability vs. loss probability	1.44	1.32	+0.12
Calmar ratio: Return relative to maximum drawdown	5.05	3.07	+1.97
Martin ratio: Return relative to average drawdown	21.53	8.68	+12.85

WTMF vs. CMOD.L - Sharpe Ratio Comparison

The current WTMF Sharpe Ratio is 2.28, which is higher than the CMOD.L Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of WTMF and CMOD.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.

Drawdowns

WTMF vs. CMOD.L - Drawdown Comparison

The maximum WTMF drawdown since its inception was -30.79%, smaller than the maximum CMOD.L drawdown of -33.16%. Use the drawdown chart below to compare losses from any high point for WTMF and CMOD.L.

Drawdown Indicators

	WTMF	CMOD.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.79%	-33.16%	+2.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.04%	-9.59%	+5.55%
Max Drawdown (3Y) Largest decline over 3 years	-9.93%	-11.65%	+1.72%
Max Drawdown (5Y) Largest decline over 5 years	-13.21%	-26.86%	+13.65%
Max Drawdown (10Y) Largest decline over 10 years	-15.62%	—	—
Current Drawdown Current decline from peak	-0.91%	-9.59%	+8.68%
Average Drawdown Average peak-to-trough decline	-17.67%	-12.24%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	3.40%	-2.46%

Volatility

WTMF vs. CMOD.L - Volatility Comparison

The current volatility for WisdomTree Managed Futures Strategy Fund (WTMF) is 2.76%, while Invesco Bloomberg Commodity UCITS ETF (CMOD.L) has a volatility of 4.36%. This indicates that WTMF experiences smaller price fluctuations and is considered to be less risky than CMOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTMF	CMOD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	4.36%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	7.21%	15.04%	-7.83%
Volatility (1Y) Calculated over the trailing 1-year period	8.93%	16.99%	-8.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.51%	16.61%	-7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.10%	14.68%	-6.58%

WTMF vs. CMOD.L - Expense Ratio Comparison

WTMF has a 0.65% expense ratio, which is higher than CMOD.L's 0.19% expense ratio.

Dividends

WTMF vs. CMOD.L - Dividend Comparison

WTMF's dividend yield for the trailing twelve months is around 2.83%, while CMOD.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CMOD.L Invesco Bloomberg Commodity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WTMF WisdomTree Managed Futures Strategy Fund	2.83%	3.04%	3.57%	4.74%	5.29%	14.71%	0.47%	1.63%	3.59%

Frequently Asked Questions

Can I hold both WTMF and CMOD.L in my portfolio?

WTMF and CMOD.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WTMF or CMOD.L?

On fees, CMOD.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WTMF or CMOD.L?

CMOD.L is cheaper with a 0.19% expense ratio, compared with 0.65% for WTMF.

What is the main difference between WTMF and CMOD.L?

WTMF is categorized as Hedge Fund, while CMOD.L is Commodities. WTMF tracks WisdomTree Managed Futures Index, while CMOD.L tracks Bloomberg Commodity TR Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.65% for WTMF and 0.19% for CMOD.L.