COMF.L vs. SPDM.L
COMF.L (L&G Longer Dated All Commodities UCITS ETF) and SPDM.L (iShares Physical Palladium ETC) are both Commodities funds - COMF.L tracks the Bloomberg Commodity Index 3 Month Forward Total Return while SPDM.L tracks the London Palladium PM Fix. Both are passively managed. Over the past 10 years, COMF.L returned 8.22%/yr vs 6.37%/yr for SPDM.L. At a 0.38 correlation, their price movements are largely independent. COMF.L charges 0.30%/yr vs 0.20%/yr for SPDM.L.
Performance
COMF.L vs. SPDM.L - Performance Comparison
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Different Trading Currencies
COMF.L is traded in USD, while SPDM.L is traded in GBp. To make them comparable, the SPDM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, COMF.L achieves a 15.62% return, which is significantly higher than SPDM.L's -21.46% return. Over the past 10 years, COMF.L has outperformed SPDM.L with an annualized return of 8.22%, while SPDM.L has yielded a comparatively lower 6.37% annualized return.
COMF.L
- 1D
- 0.49%
- 1M
- 1.36%
- 6M
- 12.32%
- YTD
- 15.62%
- 1Y
- 24.40%
- 3Y*
- 11.31%
- 5Y*
- 11.24%
- 10Y*
- 8.22%
SPDM.L
- 1D
- -2.53%
- 1M
- -7.11%
- 6M
- -29.69%
- YTD
- -21.46%
- 1Y
- -1.42%
- 3Y*
- -2.00%
- 5Y*
- -14.04%
- 10Y*
- 6.37%
COMF.L vs. SPDM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMF.L L&G Longer Dated All Commodities UCITS ETF | 15.62% | 16.43% | 5.13% | -6.37% | 18.73% | 32.96% | 2.52% | 7.36% | -8.43% | 3.10% |
SPDM.L iShares Physical Palladium ETC | -21.46% | 74.44% | -19.00% | -38.04% | -5.71% | -20.33% | 22.88% | 53.28% | 17.94% | 56.28% |
Correlation
The correlation between COMF.L and SPDM.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.38 |
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Return for Risk
COMF.L vs. SPDM.L — Risk / Return Rank
COMF.L
SPDM.L
COMF.L vs. SPDM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Longer Dated All Commodities UCITS ETF (COMF.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| COMF.L | SPDM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.03 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | -0.03 | +2.02 |
| Martin ratioReturn relative to average drawdown | 6.41 | -0.06 | +6.47 |
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Drawdowns
COMF.L vs. SPDM.L - Drawdown Comparison
The maximum COMF.L drawdown since its inception was -60.21%, smaller than the maximum SPDM.L drawdown of -72.00%. Use the drawdown chart below to compare losses from any high point for COMF.L and SPDM.L.
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Drawdown Indicators
| COMF.L | SPDM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.21% | -72.00% | +11.79% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | -45.03% | +32.78% |
Max Drawdown (3Y)Largest decline over 3 years | -12.25% | -45.03% | +32.78% |
Max Drawdown (5Y)Largest decline over 5 years | -22.56% | -72.00% | +49.44% |
Max Drawdown (10Y)Largest decline over 10 years | -29.69% | -72.00% | +42.31% |
Current DrawdownCurrent decline from peak | -7.12% | -59.49% | +52.37% |
Average DrawdownAverage peak-to-trough decline | -29.35% | -40.36% | +11.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 22.82% | -19.04% |
Volatility
COMF.L vs. SPDM.L - Volatility Comparison
The current volatility for L&G Longer Dated All Commodities UCITS ETF (COMF.L) is 3.57%, while iShares Physical Palladium ETC (SPDM.L) has a volatility of 11.58%. This indicates that COMF.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
| COMF.L | SPDM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 11.58% | -8.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.58% | 35.58% | -24.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 46.25% | -32.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 45.53% | -30.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 40.12% | -26.84% |
COMF.L vs. SPDM.L - Expense Ratio Comparison
COMF.L has a 0.30% expense ratio, which is higher than SPDM.L's 0.20% expense ratio.
Dividends
COMF.L vs. SPDM.L - Dividend Comparison
Neither COMF.L nor SPDM.L has paid dividends to shareholders.
Frequently Asked Questions
COMF.L and SPDM.L have a correlation of 0.30, 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 COMF.L.
COMF.L tracks Bloomberg Commodity Index 3 Month Forward Total Return, while SPDM.L tracks London Palladium PM Fix. They also come from different issuers: L&G and iShares. Their fees differ too: 0.30% for COMF.L and 0.20% for SPDM.L.
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