XMWJ.DE vs. 0GZB.DE

Last updated Jun 5, 2026

XMWJ.DE (WisdomTree Industrial Metals Enhanced) and 0GZB.DE (BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC) are both Metals funds - XMWJ.DE tracks the Optimised Roll Industrial Metals while 0GZB.DE tracks the RICI Enhanced Copper (EUR Hedged). Both are passively managed. Over the past 5 years, XMWJ.DE returned 6.79%/yr vs 6.77%/yr for 0GZB.DE. A 0.72 correlation means they provide meaningful diversification when combined. XMWJ.DE charges 0.40%/yr vs 1.20%/yr for 0GZB.DE.

Performance

XMWJ.DE vs. 0GZB.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in WisdomTree Industrial Metals Enhanced (XMWJ.DE) and BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC (0GZB.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMWJ.DE achieves a 11.66% return, which is significantly higher than 0GZB.DE's 10.76% return.

XMWJ.DE

• 1D: -0.39%
• 1M: 4.31%
• YTD: 11.66%
• 6M: 17.70%
• 1Y: 28.56%
• 3Y*: 8.41%
• 5Y*: 6.79%
• 10Y*: —

0GZB.DE

• 1D: 0.84%
• 1M: 5.18%
• YTD: 10.76%
• 6M: 22.41%
• 1Y: 42.38%
• 3Y*: 18.68%
• 5Y*: 6.77%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XMWJ.DE vs. 0GZB.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XMWJ.DE WisdomTree Industrial Metals Enhanced	11.66%	3.54%	10.30%	-10.91%	5.77%	37.50%	5.00%	2.40%
0GZB.DE BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC	10.76%	33.47%	8.38%	3.72%	-11.58%	20.19%	21.59%	6.66%

Correlation

The correlation between XMWJ.DE and 0GZB.DE is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 12, 2019	0.72

The correlation between XMWJ.DE and 0GZB.DE has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.

Return for Risk

XMWJ.DE vs. 0GZB.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XMWJ.DE

XMWJ.DE Risk / Return Rank: 62
XMWJ.DE Sharpe Ratio Rank: 55
XMWJ.DE Sortino Ratio Rank: 56
XMWJ.DE Omega Ratio Rank: 52
XMWJ.DE Calmar Ratio Rank: 78
XMWJ.DE Martin Ratio Rank: 71

0GZB.DE

0GZB.DE Risk / Return Rank: 66
0GZB.DE Sharpe Ratio Rank: 65
0GZB.DE Sortino Ratio Rank: 65
0GZB.DE Omega Ratio Rank: 62
0GZB.DE Calmar Ratio Rank: 73
0GZB.DE Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XMWJ.DE vs. 0GZB.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Industrial Metals Enhanced (XMWJ.DE) and BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC (0GZB.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.

	XMWJ.DE	0GZB.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.10	-0.26
Sortino ratio: Return per unit of downside risk	2.63	2.94	-0.31
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	3.89	3.60	+0.29
Martin ratio: Return relative to average drawdown	12.97	12.08	+0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMWJ.DE vs. 0GZB.DE - Sharpe Ratio Comparison

The current XMWJ.DE Sharpe Ratio is 1.85, which is comparable to the 0GZB.DE Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of XMWJ.DE and 0GZB.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XMWJ.DE	0GZB.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	2.10	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.33	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.63	-0.23

Drawdowns

XMWJ.DE vs. 0GZB.DE - Drawdown Comparison

The maximum XMWJ.DE drawdown since its inception was -36.27%, which is greater than 0GZB.DE's maximum drawdown of -31.84%. Use the drawdown chart below to compare losses from any high point for XMWJ.DE and 0GZB.DE.

Drawdown Indicators

	XMWJ.DE	0GZB.DE	Difference
Max Drawdown Largest peak-to-trough decline	-36.27%	-31.84%	-4.43%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-11.71%	+4.40%
Max Drawdown (3Y) Largest decline over 3 years	-21.35%	-17.85%	-3.50%
Max Drawdown (5Y) Largest decline over 5 years	-36.27%	-31.84%	-4.43%
Current Drawdown Current decline from peak	-14.55%	-2.20%	-12.35%
Average Drawdown Average peak-to-trough decline	-18.56%	-10.14%	-8.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	3.50%	-1.30%

Volatility

XMWJ.DE vs. 0GZB.DE - Volatility Comparison

The current volatility for WisdomTree Industrial Metals Enhanced (XMWJ.DE) is 4.56%, while BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC (0GZB.DE) has a volatility of 6.38%. This indicates that XMWJ.DE experiences smaller price fluctuations and is considered to be less risky than 0GZB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMWJ.DE	0GZB.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	6.38%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	16.81%	-3.84%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	20.06%	-4.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.70%	20.55%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.48%	20.49%	-2.01%

XMWJ.DE vs. 0GZB.DE - Expense Ratio Comparison

XMWJ.DE has a 0.40% expense ratio, which is lower than 0GZB.DE's 1.20% expense ratio.

Dividends

XMWJ.DE vs. 0GZB.DE - Dividend Comparison

Neither XMWJ.DE nor 0GZB.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XMWJ.DE and 0GZB.DE in my portfolio?

XMWJ.DE and 0GZB.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XMWJ.DE or 0GZB.DE?

On fees, XMWJ.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XMWJ.DE or 0GZB.DE?

XMWJ.DE is cheaper with a 0.40% expense ratio, compared with 1.20% for 0GZB.DE.

What is the main difference between XMWJ.DE and 0GZB.DE?

XMWJ.DE tracks Optimised Roll Industrial Metals, while 0GZB.DE tracks RICI Enhanced Copper (EUR Hedged). They also come from different issuers: WisdomTree and BNP Paribas. Their fees differ too: 0.40% for XMWJ.DE and 1.20% for 0GZB.DE.