CORN.L vs. SPAP.L
CORN.L (WisdomTree Corn) and SPAP.L (Invesco Physical Palladium) are both exchange-traded funds - CORN.L is a Agricultural Commodities fund tracking the Bloomberg Corn, while SPAP.L is a Precious Metals fund tracking the Palladium. Both are passively managed. Over the past 10 years, CORN.L returned -4.47%/yr vs 8.75%/yr for SPAP.L. At a 0.10 correlation, their price movements are largely independent. CORN.L charges 0.49%/yr vs 0.19%/yr for SPAP.L.
Performance
CORN.L vs. SPAP.L - Performance Comparison
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Different Trading Currencies
CORN.L is traded in USD, while SPAP.L is traded in GBp. To make them comparable, the SPAP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CORN.L achieves a -6.79% return, which is significantly higher than SPAP.L's -16.71% return. Over the past 10 years, CORN.L has underperformed SPAP.L with an annualized return of -4.47%, while SPAP.L has yielded a comparatively higher 8.75% annualized return.
CORN.L
- 1D
- -2.89%
- 1M
- -11.26%
- YTD
- -6.79%
- 6M
- -8.17%
- 1Y
- -11.29%
- 3Y*
- -14.04%
- 5Y*
- -7.85%
- 10Y*
- -4.47%
SPAP.L
- 1D
- -1.04%
- 1M
- -12.22%
- YTD
- -16.71%
- 6M
- -8.88%
- 1Y
- 32.64%
- 3Y*
- -2.32%
- 5Y*
- -14.30%
- 10Y*
- 8.75%
CORN.L vs. SPAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CORN.L WisdomTree Corn | -6.79% | -10.19% | -12.88% | -18.82% | 20.72% | 35.07% | 10.51% | -6.51% | -5.50% | -12.06% |
SPAP.L Invesco Physical Palladium | -16.71% | 75.03% | -19.28% | -38.03% | -5.67% | -20.37% | 23.23% | 53.29% | 17.53% | 56.28% |
Correlation
The correlation between CORN.L and SPAP.L is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2014 | 0.10 |
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Return for Risk
CORN.L vs. SPAP.L — Risk / Return Rank
CORN.L
SPAP.L
CORN.L vs. SPAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Corn (CORN.L) and Invesco Physical Palladium (SPAP.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.
| CORN.L | SPAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.15 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 0.85 | -1.68 |
| Martin ratioReturn relative to average drawdown | -1.73 | 1.84 | -3.57 |
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
| CORN.L | SPAP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | 0.72 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.33 | -0.33 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.20 | 0.23 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.09 | -0.21 |
Drawdowns
CORN.L vs. SPAP.L - Drawdown Comparison
The maximum CORN.L drawdown since its inception was -83.80%, which is greater than SPAP.L's maximum drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for CORN.L and SPAP.L.
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Drawdown Indicators
| CORN.L | SPAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.80% | -71.98% | -11.82% |
Max Drawdown (1Y)Largest decline over 1 year | -13.44% | -38.36% | +24.92% |
Max Drawdown (3Y)Largest decline over 3 years | -46.84% | -39.84% | -7.00% |
Max Drawdown (5Y)Largest decline over 5 years | -49.13% | -71.98% | +22.85% |
Max Drawdown (10Y)Largest decline over 10 years | -56.00% | -71.98% | +15.98% |
Current DrawdownCurrent decline from peak | -77.23% | -57.04% | -20.19% |
Average DrawdownAverage peak-to-trough decline | -58.83% | -30.16% | -28.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.53% | 17.69% | -11.16% |
Volatility
CORN.L vs. SPAP.L - Volatility Comparison
The current volatility for WisdomTree Corn (CORN.L) is 8.00%, while Invesco Physical Palladium (SPAP.L) has a volatility of 10.55%. This indicates that CORN.L experiences smaller price fluctuations and is considered to be less risky than SPAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CORN.L | SPAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.00% | 10.55% | -2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 13.60% | 37.90% | -24.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.05% | 45.10% | -27.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.45% | 43.18% | -19.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.59% | 38.56% | -15.97% |
CORN.L vs. SPAP.L - Expense Ratio Comparison
CORN.L has a 0.49% expense ratio, which is higher than SPAP.L's 0.19% expense ratio.
Dividends
CORN.L vs. SPAP.L - Dividend Comparison
Neither CORN.L nor SPAP.L has paid dividends to shareholders.
Frequently Asked Questions
CORN.L and SPAP.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPAP.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPAP.L is cheaper with a 0.19% expense ratio, compared with 0.49% for CORN.L.
CORN.L is categorized as Agricultural Commodities, while SPAP.L is Precious Metals. CORN.L tracks Bloomberg Corn, while SPAP.L tracks Palladium. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.49% for CORN.L and 0.19% for SPAP.L.
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