COMM.L vs. SPDM.L
COMM.L (iShares Diversified Commodity Swap UCITS ETF) and SPDM.L (iShares Physical Palladium ETC) are both Commodities funds from iShares - COMM.L tracks the Bloomberg Commodity while SPDM.L tracks the London Palladium PM Fix. Both are passively managed. Over the past 5 years, COMM.L returned 12.56%/yr vs -12.62%/yr for SPDM.L. At a 0.28 correlation, their price movements are largely independent. COMM.L charges 0.19%/yr vs 0.20%/yr for SPDM.L.
Performance
COMM.L vs. SPDM.L - Performance Comparison
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Returns By Period
In the year-to-date period, COMM.L achieves a 26.50% return, which is significantly higher than SPDM.L's -13.23% return.
COMM.L
- 1D
- 0.70%
- 1M
- -0.33%
- YTD
- 26.50%
- 6M
- 24.77%
- 1Y
- 40.42%
- 3Y*
- 13.56%
- 5Y*
- 12.56%
- 10Y*
- —
SPDM.L
- 1D
- 0.55%
- 1M
- -9.27%
- YTD
- -13.23%
- 6M
- -7.76%
- 1Y
- 36.78%
- 3Y*
- -3.85%
- 5Y*
- -12.62%
- 10Y*
- 10.16%
COMM.L vs. SPDM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMM.L iShares Diversified Commodity Swap UCITS ETF | 26.50% | 8.53% | 6.19% | -12.55% | 28.34% | 29.04% | -7.09% | 2.79% | -4.51% | 0.62% |
SPDM.L iShares Physical Palladium ETC | -13.23% | 62.20% | -17.63% | -41.15% | 5.58% | -19.60% | 19.23% | 47.36% | 25.02% | 8.14% |
Correlation
The correlation between COMM.L and SPDM.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2017 | 0.28 |
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Return for Risk
COMM.L vs. SPDM.L — Risk / Return Rank
COMM.L
SPDM.L
COMM.L vs. SPDM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (COMM.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.
| COMM.L | SPDM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.18 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 5.37 | 1.10 | +4.27 |
| Martin ratioReturn relative to average drawdown | 12.27 | 2.37 | +9.90 |
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
| COMM.L | SPDM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 0.88 | +1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | -0.30 | +1.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.14 | +0.38 |
Drawdowns
COMM.L vs. SPDM.L - Drawdown Comparison
The maximum COMM.L drawdown since its inception was -28.49%, smaller than the maximum SPDM.L drawdown of -70.87%. Use the drawdown chart below to compare losses from any high point for COMM.L and SPDM.L.
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Drawdown Indicators
| COMM.L | SPDM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.49% | -70.87% | +42.38% |
Max Drawdown (1Y)Largest decline over 1 year | -7.49% | -35.67% | +28.18% |
Max Drawdown (3Y)Largest decline over 3 years | -14.73% | -40.59% | +25.86% |
Max Drawdown (5Y)Largest decline over 5 years | -28.49% | -70.87% | +42.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.87% | — |
Current DrawdownCurrent decline from peak | -3.76% | -56.18% | +52.42% |
Average DrawdownAverage peak-to-trough decline | -12.16% | -25.10% | +12.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 16.54% | -13.26% |
Volatility
COMM.L vs. SPDM.L - Volatility Comparison
The current volatility for iShares Diversified Commodity Swap UCITS ETF (COMM.L) is 6.13%, while iShares Physical Palladium ETC (SPDM.L) has a volatility of 10.84%. This indicates that COMM.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
| COMM.L | SPDM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 10.84% | -4.71% |
Volatility (6M)Calculated over the trailing 6-month period | 16.37% | 37.16% | -20.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 44.70% | -26.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.50% | 41.85% | -25.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.37% | 37.57% | -22.20% |
COMM.L vs. SPDM.L - Expense Ratio Comparison
COMM.L has a 0.19% expense ratio, which is lower than SPDM.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
COMM.L vs. SPDM.L - Dividend Comparison
Neither COMM.L nor SPDM.L has paid dividends to shareholders.
Frequently Asked Questions
COMM.L and SPDM.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COMM.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COMM.L is cheaper with a 0.19% expense ratio, compared with 0.20% for SPDM.L.
COMM.L tracks Bloomberg Commodity, while SPDM.L tracks London Palladium PM Fix. Their fees differ too: 0.19% for COMM.L and 0.20% for SPDM.L.
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