XAAG.DE vs. EXAG.DE
XAAG.DE (Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc) and EXAG.DE (WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc) are both Commodities funds - XAAG.DE tracks the Bloomberg Commodity ex-Agriculture and Livestock while EXAG.DE tracks the Morgan Stanley RADAR ex Agriculture & Livestock Commodity (EUR Hedged). Both are passively managed. Over the past 3 years, XAAG.DE returned 17.71%/yr vs 18.34%/yr for EXAG.DE. A 0.69 correlation means they provide meaningful diversification when combined. XAAG.DE charges 0.19%/yr vs 0.60%/yr for EXAG.DE.
Performance
XAAG.DE vs. EXAG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XAAG.DE achieves a 27.69% return, which is significantly higher than EXAG.DE's 23.44% return.
XAAG.DE
- 1D
- -0.56%
- 1M
- 2.26%
- YTD
- 27.69%
- 6M
- 27.75%
- 1Y
- 46.69%
- 3Y*
- 17.71%
- 5Y*
- 14.95%
- 10Y*
- —
EXAG.DE
- 1D
- -1.00%
- 1M
- -2.39%
- YTD
- 23.44%
- 6M
- 32.94%
- 1Y
- 58.02%
- 3Y*
- 18.34%
- 5Y*
- —
- 10Y*
- —
XAAG.DE vs. EXAG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XAAG.DE Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc | 27.69% | 12.13% | 14.84% | -14.76% | 23.35% | 9.84% |
EXAG.DE WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc | 23.44% | 32.86% | 1.21% | -10.04% | 12.14% | -0.14% |
Correlation
The correlation between XAAG.DE and EXAG.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021 | 0.69 |
The correlation between XAAG.DE and EXAG.DE has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.
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Return for Risk
XAAG.DE vs. EXAG.DE — Risk / Return Rank
XAAG.DE
EXAG.DE
XAAG.DE vs. EXAG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) and WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc (EXAG.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.
| XAAG.DE | EXAG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.45 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 5.01 | -0.93 |
| Martin ratioReturn relative to average drawdown | 9.65 | 17.27 | -7.62 |
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
| XAAG.DE | EXAG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.73 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.53 | -0.04 |
Drawdowns
XAAG.DE vs. EXAG.DE - Drawdown Comparison
The maximum XAAG.DE drawdown since its inception was -33.85%, roughly equal to the maximum EXAG.DE drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for XAAG.DE and EXAG.DE.
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Drawdown Indicators
| XAAG.DE | EXAG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.85% | -35.04% | +1.19% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -11.94% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -16.26% | -15.69% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -33.85% | — | — |
Current DrawdownCurrent decline from peak | -2.54% | -6.47% | +3.93% |
Average DrawdownAverage peak-to-trough decline | -13.88% | -21.25% | +7.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 3.47% | +1.42% |
Volatility
XAAG.DE vs. EXAG.DE - Volatility Comparison
The current volatility for Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) is 4.71%, while WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc (EXAG.DE) has a volatility of 5.02%. This indicates that XAAG.DE experiences smaller price fluctuations and is considered to be less risky than EXAG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAAG.DE | EXAG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 5.02% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 18.81% | 19.08% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.76% | 21.98% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.32% | 20.80% | -0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.40% | 20.80% | -2.40% |
XAAG.DE vs. EXAG.DE - Expense Ratio Comparison
XAAG.DE has a 0.19% expense ratio, which is lower than EXAG.DE's 0.60% expense ratio.
Dividends
XAAG.DE vs. EXAG.DE - Dividend Comparison
Neither XAAG.DE nor EXAG.DE has paid dividends to shareholders.
Frequently Asked Questions
XAAG.DE and EXAG.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XAAG.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XAAG.DE is cheaper with a 0.19% expense ratio, compared with 0.60% for EXAG.DE.
XAAG.DE tracks Bloomberg Commodity ex-Agriculture and Livestock, while EXAG.DE tracks Morgan Stanley RADAR ex Agriculture & Livestock Commodity (EUR Hedged). They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.19% for XAAG.DE and 0.60% for EXAG.DE.
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