# iShares Diversified Commodity Swap UCITS ETF (COMM)

**Page:** https://fundology.uk/fund/comm · ISIN IE00BDFL4P12

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, COMM (iShares Diversified Commodity Swap UCITS ETF, ISIN IE00BDFL4P12) closed at £7.58 on the London Stock Exchange. Its ongoing charge is 0.19% a year (about £19 on £10,000). Over the five years to 13/11/2026 its total return was +58.4%, or +23.6% after UK CPIH inflation.

## Summary

iShares Diversified Commodity Swap UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2017. It tracks the Bloomberg Commodity. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.19% a year — about £19 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£7.58** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | COMM |
| ISIN | IE00BDFL4P12 |
| Also listed as | ICOM (London Stock Exchange, US dollars), SXRS (Xetra, euros) |
| Category | Gold & commodities |
| Type | ETF |
| Provider | iShares |
| Tracks | Bloomberg Commodity |
| Income | Accumulating |
| Ongoing charge | 0.19% a year (£19 per £10,000) |
| Fund size | £1.8bn |
| Launched | 2017 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 20/07/2017 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +24.87% | +20.45% | income reinvested |
| 3 years | +36.24% | +23.09% | income reinvested |
| 5 years | +58.36% | +23.61% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares Diversified Commodity Swap UCITS ETF in pounds (price, with income reinvested in the fund): 2022 +28.3%, 2023 −12.6%, 2024 +7.2%, 2025 +6.2%; 2026 to 13/11/2026 +28.6%. Returns of iShares Diversified Commodity Swap UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +42.0%; to 30/09/2025: +9.4%; to 30/09/2024: −8.9%; to 30/09/2023: −11.0%; to 30/09/2022: +36.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | +28.3% | +17.5% | Price |
| 2023 | -12.6% | -16.0% | Price |
| 2024 | +7.2% | +3.6% | Price |
| 2025 | +6.2% | +2.5% | Price |
| 2026 to 13/11/2026 | +28.6% | +24.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 18.78% | -11.79% |
| 3 years | 15.24% | -12.02% |
| 5 years | 16.83% | -27.99% |

## Largest fall

Volatility of iShares Diversified Commodity Swap UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 18.8% over 1 year, 15.2% over 3 years, 16.8% over 5 years. Largest fall in the price of iShares Diversified Commodity Swap UCITS ETF since November 2021, in pounds: −28.0% from 10/06/2022 to 06/09/2024. The lowest 12-month return of iShares Diversified Commodity Swap UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −24.0% (12 months to 09/06/2023); the highest was +62.9% (12 months to 20/05/2022). On 13/11/2026 the price of iShares Diversified Commodity Swap UCITS ETF was 7.1% below its highest weekly close since November 2021 (09/10/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares Diversified Commodity Swap UCITS ETF 0.19% a year. Compared on 14/11/2026, 131 of the 149 other gold and commodity funds charge more, 7 the same and 11 less (share classes counted once).

## Funds tracking the same index

6 funds track Bloomberg Commodity, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.99% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Invesco Bloomberg Commodity UCITS ETF | 0.19% | +24.8% | +35.7% | +57.2% |
| iShares Diversified Commodity Swap UCITS ETF (this fund) | 0.19% | +24.9% | +36.2% | +58.4% |
| iShares Diversified Commodity Swap UCITS ETF (DE) | 0.46% | +23.9% | +33.1% | +55.1% |
| L&G All Commodities UCITS ETF | 0.15% | +24.8% | +36.0% | +59.6% |
| WisdomTree Broad Commodities | 0.99% | +26.4% | +37.9% | +54.5% |
| WisdomTree Broad Commodities UCITS ETF AccumUSD | 0.19% | +24.8% | +36.5% | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.19%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, COMM holds 82 positions, according to its published holdings. The largest is Treasury Bill at 33.54% of the fund; the ten largest make up 51.3%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Treasury Bill | — | 33.54% |
| 2 | American Honda Finance | — | 2.59% |
| 3 | Bunge Ltd Finance Corp 144A | — | 2.27% |
| 4 | Fidelity Natl Info Serv 144A | — | 2.16% |
| 5 | Mackinac Funding Co LLC 144A | — | 2.09% |
| 6 | Banco Bilbao Vizcaya Argentaria | — | 2.08% |
| 7 | Banco Santander SA (New York Branc | — | 1.81% |
| 8 | Toronto-Dominion Bank (New York Br | — | 1.81% |
| 9 | PPG Industries | — | 1.51% |
| 10 | Commerzbank AG (New York Branch) | — | 1.48% |

The 80 holdings on record (of 82 reported): https://fundology.uk/fund/comm/holdings

## Questions people ask

**What is the ongoing charge of COMM?**

The ongoing charge of COMM is 0.19% a year — about £19 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares Diversified Commodity Swap UCITS ETF 0.19% a year. Compared on 14/11/2026, 131 of the 149 other gold and commodity funds charge more, 7 the same and 11 less (share classes counted once).

**What does COMM track?**

COMM tracks the Bloomberg Commodity.

**Is COMM accumulating or distributing?**

COMM is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of COMM?**

The ISIN of COMM is IE00BDFL4P12. An ISIN identifies one exact share class of a fund; COMM is its ticker on the London Stock Exchange. The same share class is also listed as ICOM (London Stock Exchange, US dollars) and SXRS (Xetra, euros).

**What does COMM hold?**

As of 06/11/2026, COMM holds 82 positions, according to its published holdings. The largest is Treasury Bill at 33.54% of the fund; the ten largest make up 51.3%. Its ten largest holdings are Treasury Bill (33.54%), American Honda Finance (2.59%), Bunge Ltd Finance Corp 144A (2.27%), Fidelity Natl Info Serv 144A (2.16%), Mackinac Funding Co LLC 144A (2.09%), Banco Bilbao Vizcaya Argentaria (2.08%), Banco Santander SA (New York Branc (1.81%), Toronto-Dominion Bank (New York Br (1.81%), PPG Industries (1.51%) and Commerzbank AG (New York Branch) (1.48%).

**What were COMM’s returns in each of the last five years?**

Calendar-year returns of COMM in pounds (price, with income reinvested in the fund): 2022 +28.3%, 2023 −12.6%, 2024 +7.2%, 2025 +6.2%; 2026 to 13/11/2026 +28.6%. Past performance is not a guide to future returns.

**How has COMM done after inflation?**

Over the five years to 13/11/2026 COMM’s total return was +58.4%, or +23.6% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/287254/ishares-diversified-commodity-swap-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-diversified-commodity-swap-ucits-etf-gb-ie00bdfl4p12-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/icom-ishares-diversified-commodity-swap-ucits-etf-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.