# WisdomTree Wheat 2x Daily Leveraged (LWEA)

**Page:** https://fundology.uk/fund/lwea · ISIN JE00BDD9QC84

## 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, LWEA (WisdomTree Wheat 2x Daily Leveraged, ISIN JE00BDD9QC84) closed at $2.88 on the London Stock Exchange. Its ongoing charge is 2.33% a year (about £233 on £10,000). Over the five years to 13/11/2026 its total return was −90.1%, or −92.3% after UK CPIH inflation.

## Summary

WisdomTree Wheat 2x Daily Leveraged is an exchange-traded commodity (ETC) from WisdomTree, launched in 2008. It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 2.33% a year — about £233 a year on every £10,000 invested, taken from the fund's value rather than billed to you.

> **Leveraged & inverse:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started.

Latest close: **$2.88** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | LWEA |
| ISIN | JE00BDD9QC84 |
| Also listed as | 4RUJ (Xetra, euros) |
| Category | Leveraged & inverse |
| Type | ETC |
| Provider | WisdomTree |
| Tracks | Bloomberg Wheat Subindex |
| Ongoing charge | 2.33% a year (£233 per £10,000) |
| Fund size | £5.5m |
| Launched | 2008 |
| Domicile | Jersey |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2009 |

## 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 | -10.07% | -13.25% | income reinvested |
| 3 years | -61.98% | -65.65% | income reinvested |
| 5 years | -90.09% | -92.26% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of WisdomTree Wheat 2x Daily Leveraged in pounds (price only; the fund pays no income): 2022 −28.0%, 2023 −55.4%, 2024 −46.9%, 2025 −39.2%; 2026 to 13/11/2026 +14.0%. Returns of WisdomTree Wheat 2x Daily Leveraged in pounds (price only; the fund pays no income) over the 12 months to 30/09/2026: +36.9%; to 30/09/2025: −42.5%; to 30/09/2024: −34.0%; to 30/09/2023: −74.1%; to 30/09/2022: +18.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -28.0% | -34.1% | Price |
| 2023 | -55.4% | -57.1% | Price |
| 2024 | -46.9% | -48.8% | Price |
| 2025 | -39.2% | -41.3% | Price |
| 2026 to 13/11/2026 | +14.0% | +10.4% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 52.43% | -42.38% |
| 3 years | 49.22% | -70.80% |
| 5 years | 78.75% | -96.12% |

## Largest fall

Volatility of WisdomTree Wheat 2x Daily Leveraged in pounds, annualised from weekly returns to 13/11/2026: 52.4% over 1 year, 49.2% over 3 years, 78.7% over 5 years. Largest fall in the price of WisdomTree Wheat 2x Daily Leveraged since November 2021, in pounds: −96.1% from 04/03/2022 to 02/01/2026. The lowest 12-month return of WisdomTree Wheat 2x Daily Leveraged in pounds (price only; the fund pays no income) since January 2021 was −80.1% (12 months to 19/05/2023); the highest was +222.9% (12 months to 04/03/2022). On 13/11/2026 the price of WisdomTree Wheat 2x Daily Leveraged was 95.6% below its highest weekly close since November 2021 (04/03/2022), in pounds.

## Charges compared with similar funds

Ongoing charge of WisdomTree Wheat 2x Daily Leveraged 2.33% a year. Compared on 14/11/2026, 81 of the 210 other leveraged and inverse products charge more, 0 the same and 129 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **2.33%** per year (as of 13/11/2026)
- 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.

## Questions people ask

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

The ongoing charge of LWEA is 2.33% a year — about £233 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 WisdomTree Wheat 2x Daily Leveraged 2.33% a year. Compared on 14/11/2026, 81 of the 210 other leveraged and inverse products charge more, 0 the same and 129 less (share classes counted once).

**What does LWEA track?**

LWEA tracks the Bloomberg Wheat Subindex.

**What is the ISIN of LWEA?**

The ISIN of LWEA is JE00BDD9QC84. An ISIN identifies one exact share class of a fund; LWEA is its ticker on the London Stock Exchange. The same share class is also listed as 4RUJ (Xetra, euros).

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

Calendar-year returns of LWEA in pounds (price only; the fund pays no income): 2022 −28.0%, 2023 −55.4%, 2024 −46.9%, 2025 −39.2%; 2026 to 13/11/2026 +14.0%. Past performance is not a guide to future returns.

**How has LWEA done after inflation?**

Over the five years to 13/11/2026 LWEA’s total return was −90.1%, or −92.3% after UK CPIH inflation. Past performance is not a guide to future returns.

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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.