WXAG.L vs. SLVR.L
WXAG.L (WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc) and SLVR.L (WisdomTree Silver) are both exchange-traded funds - WXAG.L is a Commodities fund tracking the Morgan Stanley RADAR ex Agriculture & Livestock Commodity, while SLVR.L is a Silver fund tracking the Bloomberg Silver Subindex. Both are passively managed. Over the past 3 years, WXAG.L returned 21.39%/yr vs 42.86%/yr for SLVR.L. A 0.55 correlation means they provide meaningful diversification when combined. WXAG.L charges 0.60%/yr vs 0.49%/yr for SLVR.L.
Performance
WXAG.L vs. SLVR.L - Performance Comparison
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Returns By Period
In the year-to-date period, WXAG.L achieves a 29.61% return, which is significantly higher than SLVR.L's 3.18% return.
WXAG.L
- 1D
- -0.44%
- 1M
- -1.78%
- YTD
- 29.61%
- 6M
- 35.87%
- 1Y
- 64.34%
- 3Y*
- 21.39%
- 5Y*
- —
- 10Y*
- —
SLVR.L
- 1D
- -3.39%
- 1M
- -3.55%
- YTD
- 3.18%
- 6M
- 24.16%
- 1Y
- 108.17%
- 3Y*
- 42.86%
- 5Y*
- 19.09%
- 10Y*
- 13.51%
WXAG.L vs. SLVR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WXAG.L WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc | 29.61% | 32.53% | 2.91% | -8.03% | 19.40% | -6.94% |
SLVR.L WisdomTree Silver | 3.18% | 136.72% | 20.15% | -2.57% | 2.25% | -6.19% |
Correlation
The correlation between WXAG.L and SLVR.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2021 | 0.55 |
The correlation between WXAG.L and SLVR.L has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
WXAG.L vs. SLVR.L — Risk / Return Rank
WXAG.L
SLVR.L
WXAG.L vs. SLVR.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 WisdomTree Silver (SLVR.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 | SLVR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.33 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.34 | 2.64 | +2.70 |
| Martin ratioReturn relative to average drawdown | 19.47 | 5.79 | +13.67 |
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 | SLVR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.93 | 1.83 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.22 | +0.48 |
Drawdowns
WXAG.L vs. SLVR.L - Drawdown Comparison
The maximum WXAG.L drawdown since its inception was -26.77%, smaller than the maximum SLVR.L drawdown of -79.93%. Use the drawdown chart below to compare losses from any high point for WXAG.L and SLVR.L.
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Drawdown Indicators
| WXAG.L | SLVR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.77% | -79.93% | +53.16% |
Max Drawdown (1Y)Largest decline over 1 year | -12.00% | -40.74% | +28.74% |
Max Drawdown (3Y)Largest decline over 3 years | -14.35% | -40.74% | +26.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.90% | — |
Current DrawdownCurrent decline from peak | -5.35% | -35.69% | +30.34% |
Average DrawdownAverage peak-to-trough decline | -16.08% | -49.44% | +33.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 18.61% | -15.31% |
Volatility
WXAG.L vs. SLVR.L - Volatility Comparison
The current volatility for WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc (WXAG.L) is 5.08%, while WisdomTree Silver (SLVR.L) has a volatility of 17.95%. This indicates that WXAG.L experiences smaller price fluctuations and is considered to be less risky than SLVR.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 | SLVR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 17.95% | -12.87% |
Volatility (6M)Calculated over the trailing 6-month period | 19.23% | 56.26% | -37.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.89% | 58.81% | -36.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 36.81% | -14.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.55% | 31.96% | -9.41% |
WXAG.L vs. SLVR.L - Expense Ratio Comparison
WXAG.L has a 0.60% expense ratio, which is higher than SLVR.L's 0.49% expense ratio.
Dividends
WXAG.L vs. SLVR.L - Dividend Comparison
Neither WXAG.L nor SLVR.L has paid dividends to shareholders.
Frequently Asked Questions
WXAG.L and SLVR.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SLVR.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SLVR.L is cheaper with a 0.49% expense ratio, compared with 0.60% for WXAG.L.
WXAG.L is categorized as Commodities, while SLVR.L is Silver. WXAG.L tracks Morgan Stanley RADAR ex Agriculture & Livestock Commodity, while SLVR.L tracks Bloomberg Silver Subindex. Their fees differ too: 0.60% for WXAG.L and 0.49% for SLVR.L.
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