BNQL.DE vs. VZLE.DE
BNQL.DE (BNP Paribas Palladium ETC) and VZLE.DE (WisdomTree Physical Precious Metals) are both Precious Metals funds - BNQL.DE tracks the Palladium Spot Price while VZLE.DE tracks the LBMA & LPPM Precious Metals Price PM - Benchmark Price Return. Both are passively managed. Over the past 5 years, BNQL.DE returned -14.19%/yr vs 13.65%/yr for VZLE.DE. A 0.54 correlation means they provide meaningful diversification when combined. BNQL.DE charges 0.99%/yr vs 0.44%/yr for VZLE.DE.
Performance
BNQL.DE vs. VZLE.DE - Performance Comparison
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Different Trading Currencies
BNQL.DE is traded in EUR, while VZLE.DE is traded in USD. To make them comparable, the VZLE.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, BNQL.DE achieves a -17.76% return, which is significantly lower than VZLE.DE's -1.12% return.
BNQL.DE
- 1D
- -1.06%
- 1M
- -11.56%
- YTD
- -17.76%
- 6M
- -8.41%
- 1Y
- 29.07%
- 3Y*
- -5.67%
- 5Y*
- -14.19%
- 10Y*
- —
VZLE.DE
- 1D
- -0.44%
- 1M
- -1.27%
- YTD
- -1.12%
- 6M
- 10.90%
- 1Y
- 45.87%
- 3Y*
- 21.82%
- 5Y*
- 13.65%
- 10Y*
- 12.20%
BNQL.DE vs. VZLE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNQL.DE BNP Paribas Palladium ETC | -17.76% | 58.42% | -16.10% | -40.26% | -4.34% | -10.11% | 10.43% | 53.40% | 21.86% | 38.20% |
VZLE.DE WisdomTree Physical Precious Metals | -1.12% | 50.99% | 30.82% | -9.42% | 10.88% | 6.60% | 4.47% | 31.26% | 9.47% | -10.88% |
Correlation
The correlation between BNQL.DE and VZLE.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2016 | 0.54 |
The correlation between BNQL.DE and VZLE.DE shifts across timeframes, from 0.54 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BNQL.DE vs. VZLE.DE — Risk / Return Rank
BNQL.DE
VZLE.DE
BNQL.DE vs. VZLE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Palladium ETC (BNQL.DE) and WisdomTree Physical Precious Metals (VZLE.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.
| BNQL.DE | VZLE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.27 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 2.02 | -1.25 |
| Martin ratioReturn relative to average drawdown | 1.68 | 4.73 | -3.06 |
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
| BNQL.DE | VZLE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 1.42 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | 0.58 | -0.89 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.46 | -0.35 |
Drawdowns
BNQL.DE vs. VZLE.DE - Drawdown Comparison
The maximum BNQL.DE drawdown since its inception was -73.80%, which is greater than VZLE.DE's maximum drawdown of -39.29%. Use the drawdown chart below to compare losses from any high point for BNQL.DE and VZLE.DE.
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Drawdown Indicators
| BNQL.DE | VZLE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.80% | -39.29% | -34.51% |
Max Drawdown (1Y)Largest decline over 1 year | -37.28% | -22.56% | -14.72% |
Max Drawdown (3Y)Largest decline over 3 years | -43.58% | -22.56% | -21.02% |
Max Drawdown (5Y)Largest decline over 5 years | -73.80% | -28.94% | -44.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.94% | — |
Current DrawdownCurrent decline from peak | -61.09% | -20.66% | -40.43% |
Average DrawdownAverage peak-to-trough decline | -32.15% | -13.88% | -18.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 9.66% | +7.64% |
Volatility
BNQL.DE vs. VZLE.DE - Volatility Comparison
BNP Paribas Palladium ETC (BNQL.DE) has a higher volatility of 10.31% compared to WisdomTree Physical Precious Metals (VZLE.DE) at 6.89%. This indicates that BNQL.DE's price experiences larger fluctuations and is considered to be riskier than VZLE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNQL.DE | VZLE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 6.89% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 37.75% | 28.75% | +9.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.71% | 32.12% | +13.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.30% | 23.25% | +22.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 20.78% | +19.99% |
BNQL.DE vs. VZLE.DE - Expense Ratio Comparison
BNQL.DE has a 0.99% expense ratio, which is higher than VZLE.DE's 0.44% expense ratio.
Dividends
BNQL.DE vs. VZLE.DE - Dividend Comparison
Neither BNQL.DE nor VZLE.DE has paid dividends to shareholders.
Frequently Asked Questions
BNQL.DE and VZLE.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VZLE.DE is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VZLE.DE is cheaper with a 0.44% expense ratio, compared with 0.99% for BNQL.DE.
BNQL.DE tracks Palladium Spot Price, while VZLE.DE tracks LBMA & LPPM Precious Metals Price PM - Benchmark Price Return. They also come from different issuers: BNP Paribas and WisdomTree. Their fees differ too: 0.99% for BNQL.DE and 0.44% for VZLE.DE.
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