BNKE.L vs. SPDM.L
BNKE.L (Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc) and SPDM.L (iShares Physical Palladium ETC) are both exchange-traded funds - BNKE.L is a Financials Equities fund tracking the MSCI World/Financials NR USD, while SPDM.L is a Commodities fund tracking the London Palladium PM Fix. Both are passively managed. Over the past 5 years, BNKE.L returned 29.25%/yr vs -13.18%/yr for SPDM.L. At a 0.16 correlation, their price movements are largely independent. BNKE.L charges 0.30%/yr vs 0.20%/yr for SPDM.L.
Performance
BNKE.L vs. SPDM.L - Performance Comparison
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Different Trading Currencies
BNKE.L is traded in GBP, while SPDM.L is traded in GBp. To make them comparable, the SPDM.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, BNKE.L achieves a 4.63% return, which is significantly higher than SPDM.L's -15.50% return.
BNKE.L
- 1D
- 0.77%
- 1M
- 6.68%
- YTD
- 4.63%
- 6M
- 11.03%
- 1Y
- 45.15%
- 3Y*
- 46.04%
- 5Y*
- 29.25%
- 10Y*
- —
SPDM.L
- 1D
- -2.62%
- 1M
- -9.97%
- YTD
- -15.50%
- 6M
- -8.50%
- 1Y
- 35.48%
- 3Y*
- -4.70%
- 5Y*
- -13.18%
- 10Y*
- 9.87%
BNKE.L vs. SPDM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BNKE.L Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc | 4.63% | 99.94% | 25.19% | 27.75% | 6.62% | 31.33% | -18.12% | 2.40% |
SPDM.L iShares Physical Palladium ETC | -15.50% | 62.20% | -17.63% | -41.15% | 5.58% | -19.60% | 19.23% | 19.26% |
Correlation
The correlation between BNKE.L and SPDM.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.16 |
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Return for Risk
BNKE.L vs. SPDM.L — Risk / Return Rank
BNKE.L
SPDM.L
BNKE.L vs. SPDM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc (BNKE.L) and iShares Physical Palladium ETC (SPDM.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.
| BNKE.L | SPDM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.16 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 0.91 | +1.79 |
| Martin ratioReturn relative to average drawdown | 8.72 | 1.98 | +6.73 |
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
| BNKE.L | SPDM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 0.74 | +1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.15 | -0.31 | +1.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.14 | +0.61 |
Drawdowns
BNKE.L vs. SPDM.L - Drawdown Comparison
The maximum BNKE.L drawdown since its inception was -48.52%, smaller than the maximum SPDM.L drawdown of -70.87%. Use the drawdown chart below to compare losses from any high point for BNKE.L and SPDM.L.
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Drawdown Indicators
| BNKE.L | SPDM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.52% | -70.87% | +22.35% |
Max Drawdown (1Y)Largest decline over 1 year | -16.66% | -36.26% | +19.60% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | -40.59% | +22.19% |
Max Drawdown (5Y)Largest decline over 5 years | -34.21% | -70.87% | +36.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.87% | — |
Current DrawdownCurrent decline from peak | -1.62% | -57.32% | +55.70% |
Average DrawdownAverage peak-to-trough decline | -10.40% | -25.10% | +14.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.17% | 16.70% | -11.53% |
Volatility
BNKE.L vs. SPDM.L - Volatility Comparison
The current volatility for Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc (BNKE.L) is 6.10%, while iShares Physical Palladium ETC (SPDM.L) has a volatility of 10.52%. This indicates that BNKE.L experiences smaller price fluctuations and is considered to be less risky than SPDM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNKE.L | SPDM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 10.52% | -4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 18.62% | 37.20% | -18.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.28% | 44.75% | -21.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.45% | 41.86% | -16.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.62% | 37.58% | -7.96% |
BNKE.L vs. SPDM.L - Expense Ratio Comparison
BNKE.L has a 0.30% expense ratio, which is higher than SPDM.L's 0.20% expense ratio.
Dividends
BNKE.L vs. SPDM.L - Dividend Comparison
Neither BNKE.L nor SPDM.L has paid dividends to shareholders.
Frequently Asked Questions
BNKE.L and SPDM.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPDM.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPDM.L is cheaper with a 0.20% expense ratio, compared with 0.30% for BNKE.L.
BNKE.L is categorized as Financials Equities, while SPDM.L is Commodities. BNKE.L tracks MSCI World/Financials NR USD, while SPDM.L tracks London Palladium PM Fix. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.30% for BNKE.L and 0.20% for SPDM.L.
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