# WisdomTree Wheat (WEAP)

**Page:** https://fundology.uk/fund/weap · ISIN JE00BN7KB664

## 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, WEAP (WisdomTree Wheat, ISIN JE00BN7KB664) closed at £14.31 on the London Stock Exchange. Its ongoing charge is 0.99% a year (about £99 on £10,000). Over the five years to 13/11/2026 its total return was −53.2%, or −63.4% after UK CPIH inflation.

## Summary

WisdomTree Wheat is an exchange-traded commodity (ETC) from WisdomTree, launched in 2006. It tracks the Bloomberg Wheat Subindex. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.99% a year — about £99 a year on every £10,000 invested, taken from the fund's value rather than billed to you.

Latest close: **£14.31** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | WEAP |
| ISIN | JE00BN7KB664 |
| Also listed as | WEAT (London Stock Exchange, US dollars), OD7S (Xetra, euros) |
| Category | Gold & commodities |
| Type | ETC |
| Provider | WisdomTree |
| Tracks | Bloomberg Wheat Subindex |
| Ongoing charge | 0.99% a year (£99 per £10,000) |
| Fund size | £168m |
| Launched | 2006 |
| 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 | -0.25% | -3.78% | income reinvested |
| 3 years | -28.47% | -35.37% | income reinvested |
| 5 years | -53.15% | -63.43% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of WisdomTree Wheat in pounds (price only; the fund pays no income): 2024 −21.4%, 2025 −22.0%; 2026 to 13/11/2026 +13.8%. Returns of WisdomTree Wheat in pounds (price only; the fund pays no income) over the 12 months to 30/09/2026: +24.8%; to 30/09/2025: −20.9%; to 30/09/2024: −17.1%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2024 | -21.4% | -24.1% | Price |
| 2025 | -22.0% | -24.6% | Price |
| 2026 to 13/11/2026 | +13.8% | +10.2% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 26.02% | -22.66% |
| 3 years | 25.38% | -43.15% |

## Largest fall

Volatility of WisdomTree Wheat in pounds, annualised from weekly returns to 13/11/2026: 26.0% over 1 year, 25.4% over 3 years. Largest fall in the price of WisdomTree Wheat since February 2023, in pounds: −54.0% from 24/02/2023 to 02/01/2026. The lowest 12-month return of WisdomTree Wheat in pounds (price only; the fund pays no income) since February 2023 was −33.9% (12 months to 23/05/2025); the highest was +36.2% (12 months to 28/08/2026). On 13/11/2026 the price of WisdomTree Wheat was 47.6% below its highest weekly close since February 2023 (24/02/2023), in pounds.

## Charges compared with similar funds

Ongoing charge of WisdomTree Wheat 0.99% a year. Compared on 14/11/2026, 2 of the 149 other gold and commodity funds charge more, 3 the same and 144 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.99%** 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 WEAP?**

The ongoing charge of WEAP is 0.99% a year — about £99 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 0.99% a year. Compared on 14/11/2026, 2 of the 149 other gold and commodity funds charge more, 3 the same and 144 less (share classes counted once).

**What does WEAP track?**

WEAP tracks the Bloomberg Wheat Subindex.

**What is the ISIN of WEAP?**

The ISIN of WEAP is JE00BN7KB664. An ISIN identifies one exact share class of a fund; WEAP is its ticker on the London Stock Exchange. The same share class is also listed as WEAT (London Stock Exchange, US dollars) and OD7S (Xetra, euros).

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

Calendar-year returns of WEAP in pounds (price only; the fund pays no income): 2024 −21.4%, 2025 −22.0%; 2026 to 13/11/2026 +13.8%. Past performance is not a guide to future returns.

**How has WEAP done after inflation?**

Over the five years to 13/11/2026 WEAP’s total return was −53.2%, or −63.4% 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.