XBCU.L vs. WCOG.L
XBCU.L (Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C) and WCOG.L (WisdomTree Enhanced Commodity UCITS ETF USD) are both Commodities funds - XBCU.L tracks the Bloomberg ex-Agriculture and Livestock 15/30 Capped 3 Month Forward while WCOG.L tracks the Optimised Roll Commodity. Both are passively managed. Over the past 10 years, XBCU.L returned 9.95%/yr vs 8.06%/yr for WCOG.L. A 0.78 correlation means they provide meaningful diversification when combined. XBCU.L charges 0.29%/yr vs 0.35%/yr for WCOG.L.
Performance
XBCU.L vs. WCOG.L - Performance Comparison
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Different Trading Currencies
XBCU.L is traded in USD, while WCOG.L is traded in GBp. To make them comparable, the WCOG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XBCU.L achieves a 23.15% return, which is significantly lower than WCOG.L's 30.86% return. Over the past 10 years, XBCU.L has outperformed WCOG.L with an annualized return of 9.95%, while WCOG.L has yielded a comparatively lower 8.06% annualized return.
XBCU.L
- 1D
- -0.49%
- 1M
- 0.54%
- YTD
- 23.15%
- 6M
- 26.23%
- 1Y
- 45.54%
- 3Y*
- 19.51%
- 5Y*
- 15.55%
- 10Y*
- 9.95%
WCOG.L
- 1D
- -1.13%
- 1M
- -2.76%
- YTD
- 30.86%
- 6M
- 32.52%
- 1Y
- 43.95%
- 3Y*
- 16.01%
- 5Y*
- 11.53%
- 10Y*
- 8.06%
XBCU.L vs. WCOG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XBCU.L Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C | 23.15% | 26.09% | 8.64% | -9.97% | 20.96% | 39.63% | -1.34% | 7.54% | -11.30% | 5.31% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 30.86% | 16.09% | 2.71% | -7.51% | 12.84% | 27.21% | 0.92% | 7.21% | -9.13% | 4.80% |
Correlation
The correlation between XBCU.L and WCOG.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.78 |
The correlation between XBCU.L and WCOG.L has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.
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Return for Risk
XBCU.L vs. WCOG.L — Risk / Return Rank
XBCU.L
WCOG.L
XBCU.L vs. WCOG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C (XBCU.L) and WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.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.
| XBCU.L | WCOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.45 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.85 | 7.44 | -2.58 |
| Martin ratioReturn relative to average drawdown | 13.65 | 16.61 | -2.97 |
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
| XBCU.L | WCOG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.55 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.74 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.59 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.61 | -0.34 |
Drawdowns
XBCU.L vs. WCOG.L - Drawdown Comparison
The maximum XBCU.L drawdown since its inception was -62.92%, which is greater than WCOG.L's maximum drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for XBCU.L and WCOG.L.
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Drawdown Indicators
| XBCU.L | WCOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.92% | -28.45% | -34.47% |
Max Drawdown (1Y)Largest decline over 1 year | -9.34% | -5.88% | -3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -12.95% | -9.71% | -3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -27.83% | -24.47% | -3.36% |
Max Drawdown (10Y)Largest decline over 10 years | -37.15% | -28.45% | -8.70% |
Current DrawdownCurrent decline from peak | -2.70% | -3.96% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -29.73% | -10.17% | -19.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 2.64% | +0.69% |
Volatility
XBCU.L vs. WCOG.L - Volatility Comparison
The current volatility for Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C (XBCU.L) is 4.24%, while WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) has a volatility of 6.24%. This indicates that XBCU.L experiences smaller price fluctuations and is considered to be less risky than WCOG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBCU.L | WCOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 6.24% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 15.16% | 15.44% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 17.19% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.65% | 15.67% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.52% | 13.68% | +2.84% |
XBCU.L vs. WCOG.L - Expense Ratio Comparison
XBCU.L has a 0.29% expense ratio, which is lower than WCOG.L's 0.35% expense ratio.
Dividends
XBCU.L vs. WCOG.L - Dividend Comparison
XBCU.L has not paid dividends to shareholders, while WCOG.L's dividend yield for the trailing twelve months is around 2.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 2.68% | 4.56% | 4.54% | 0.65% | 0.00% | 0.30% | 1.64% | 1.64% | 0.46% |
XBCU.L Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XBCU.L and WCOG.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBCU.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBCU.L is cheaper with a 0.29% expense ratio, compared with 0.35% for WCOG.L.
XBCU.L tracks Bloomberg ex-Agriculture and Livestock 15/30 Capped 3 Month Forward, while WCOG.L tracks Optimised Roll Commodity. They also come from different issuers: DWS and WisdomTree. Their fees differ too: 0.29% for XBCU.L and 0.35% for WCOG.L.
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