WXAG.L vs. ROLL.L
WXAG.L (WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc) and ROLL.L (iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc)) are both Commodities funds - WXAG.L tracks the Morgan Stanley RADAR ex Agriculture & Livestock Commodity while ROLL.L tracks the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past 3 years, WXAG.L returned 17.27%/yr vs 14.49%/yr for ROLL.L. Their correlation of 0.83 suggests significant overlap in exposure. WXAG.L charges 0.60%/yr vs 0.28%/yr for ROLL.L.
Performance
WXAG.L vs. ROLL.L - Performance Comparison
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Returns By Period
In the year-to-date period, WXAG.L achieves a 20.46% return, which is significantly lower than ROLL.L's 24.33% return.
WXAG.L
- 1D
- -0.22%
- 1M
- -1.16%
- 6M
- 11.74%
- YTD
- 20.46%
- 1Y
- 40.50%
- 3Y*
- 17.27%
- 5Y*
- —
- 10Y*
- —
ROLL.L
- 1D
- 0.66%
- 1M
- 2.68%
- 6M
- 18.83%
- YTD
- 24.33%
- 1Y
- 34.97%
- 3Y*
- 14.49%
- 5Y*
- 12.71%
- 10Y*
- —
WXAG.L vs. ROLL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WXAG.L WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc | 20.46% | 32.44% | 2.94% | -8.02% | 15.50% | 2.60% |
ROLL.L iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc) | 24.33% | 16.94% | 4.68% | -2.22% | 16.67% | -4.19% |
Correlation
The correlation between WXAG.L and ROLL.L is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | 0.83 |
The correlation between WXAG.L and ROLL.L has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
WXAG.L vs. ROLL.L — Risk / Return Rank
WXAG.L
ROLL.L
WXAG.L vs. ROLL.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 Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc) (ROLL.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.
| WXAG.L | ROLL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.38 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.50 | -0.19 |
| Martin ratioReturn relative to average drawdown | 6.98 | 8.58 | -1.60 |
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Drawdowns
WXAG.L vs. ROLL.L - Drawdown Comparison
The maximum WXAG.L drawdown since its inception was -26.79%, roughly equal to the maximum ROLL.L drawdown of -26.90%. Use the drawdown chart below to compare losses from any high point for WXAG.L and ROLL.L.
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Drawdown Indicators
| WXAG.L | ROLL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.79% | -26.90% | +0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -17.44% | -13.94% | -3.50% |
Max Drawdown (3Y)Largest decline over 3 years | -17.44% | -13.94% | -3.50% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.45% | — |
Current DrawdownCurrent decline from peak | -12.08% | -7.10% | -4.98% |
Average DrawdownAverage peak-to-trough decline | -14.78% | -9.17% | -5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.79% | 4.06% | +1.73% |
Volatility
WXAG.L vs. ROLL.L - Volatility Comparison
WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc (WXAG.L) has a higher volatility of 4.57% compared to iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF USD (Acc) (ROLL.L) at 4.18%. This indicates that WXAG.L's price experiences larger fluctuations and is considered to be riskier than ROLL.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 | ROLL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 4.18% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 17.89% | 14.48% | +3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.03% | 16.55% | +5.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.37% | 16.16% | +4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.37% | 14.96% | +5.41% |
WXAG.L vs. ROLL.L - Expense Ratio Comparison
WXAG.L has a 0.60% expense ratio, which is higher than ROLL.L's 0.28% expense ratio.
Dividends
WXAG.L vs. ROLL.L - Dividend Comparison
Neither WXAG.L nor ROLL.L has paid dividends to shareholders.
Frequently Asked Questions
WXAG.L and ROLL.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ROLL.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ROLL.L is cheaper with a 0.28% expense ratio, compared with 0.60% for WXAG.L.
WXAG.L tracks Morgan Stanley RADAR ex Agriculture & Livestock Commodity, while ROLL.L tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.60% for WXAG.L and 0.28% for ROLL.L.
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