WXAG.L vs. ICOM.L
WXAG.L (WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc) and ICOM.L (iShares Diversified Commodity Swap UCITS ETF) are both Commodities funds - WXAG.L tracks the Morgan Stanley RADAR ex Agriculture & Livestock Commodity while ICOM.L tracks the Bloomberg Commodity (Total Return Index). Both are passively managed. Over the past 3 years, WXAG.L returned 20.75%/yr vs 15.67%/yr for ICOM.L. A 0.68 correlation means they provide meaningful diversification when combined. WXAG.L charges 0.60%/yr vs 0.19%/yr for ICOM.L.
Performance
WXAG.L vs. ICOM.L - Performance Comparison
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Returns By Period
In the year-to-date period, WXAG.L achieves a 28.27% return, which is significantly higher than ICOM.L's 24.73% return.
WXAG.L
- 1D
- -1.03%
- 1M
- -3.04%
- YTD
- 28.27%
- 6M
- 35.13%
- 1Y
- 63.03%
- 3Y*
- 20.75%
- 5Y*
- —
- 10Y*
- —
ICOM.L
- 1D
- -1.26%
- 1M
- -3.64%
- YTD
- 24.73%
- 6M
- 24.19%
- 1Y
- 37.66%
- 3Y*
- 15.67%
- 5Y*
- 11.06%
- 10Y*
- —
WXAG.L vs. ICOM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WXAG.L WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc | 28.27% | 32.53% | 2.91% | -8.03% | 19.40% | -6.94% |
ICOM.L iShares Diversified Commodity Swap UCITS ETF | 24.73% | 16.45% | 5.07% | -8.06% | 14.83% | -4.17% |
Correlation
The correlation between WXAG.L and ICOM.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2021 | 0.68 |
The correlation between WXAG.L and ICOM.L shifts across timeframes, from 0.68 (all time) to 0.83 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WXAG.L vs. ICOM.L — Risk / Return Rank
WXAG.L
ICOM.L
WXAG.L vs. ICOM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc (WXAG.L) and iShares Diversified Commodity Swap UCITS ETF (ICOM.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.
| WXAG.L | ICOM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.41 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.23 | 5.22 | +0.01 |
| Martin ratioReturn relative to average drawdown | 18.93 | 12.15 | +6.78 |
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
| WXAG.L | ICOM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 2.22 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.55 | +0.13 |
Drawdowns
WXAG.L vs. ICOM.L - Drawdown Comparison
The maximum WXAG.L drawdown since its inception was -26.77%, smaller than the maximum ICOM.L drawdown of -33.13%. Use the drawdown chart below to compare losses from any high point for WXAG.L and ICOM.L.
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Drawdown Indicators
| WXAG.L | ICOM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.77% | -33.13% | +6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -12.00% | -7.18% | -4.82% |
Max Drawdown (3Y)Largest decline over 3 years | -14.35% | -11.40% | -2.95% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.74% | — |
Current DrawdownCurrent decline from peak | -6.32% | -5.33% | -0.99% |
Average DrawdownAverage peak-to-trough decline | -16.07% | -12.87% | -3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 3.09% | +0.23% |
Volatility
WXAG.L vs. ICOM.L - Volatility Comparison
The current volatility for WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc (WXAG.L) is 5.15%, while iShares Diversified Commodity Swap UCITS ETF (ICOM.L) has a volatility of 5.49%. This indicates that WXAG.L experiences smaller price fluctuations and is considered to be less risky than ICOM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WXAG.L | ICOM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 5.49% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 19.27% | 15.09% | +4.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.92% | 16.90% | +5.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 16.51% | +6.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.54% | 15.23% | +7.31% |
WXAG.L vs. ICOM.L - Expense Ratio Comparison
WXAG.L has a 0.60% expense ratio, which is higher than ICOM.L's 0.19% expense ratio.
Dividends
WXAG.L vs. ICOM.L - Dividend Comparison
Neither WXAG.L nor ICOM.L has paid dividends to shareholders.
Frequently Asked Questions
WXAG.L and ICOM.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICOM.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICOM.L is cheaper with a 0.19% expense ratio, compared with 0.60% for WXAG.L.
WXAG.L tracks Morgan Stanley RADAR ex Agriculture & Livestock Commodity, while ICOM.L tracks Bloomberg Commodity (Total Return Index). They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.60% for WXAG.L and 0.19% for ICOM.L.
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