GSM vs. PALL

Last updated Jul 14, 2026

GSM (Ferroglobe PLC) is a stock, while PALL (Aberdeen Standard Physical Palladium Shares ETF) is Precious Metals fund tracking the Palladium London PM Fix ($/ozt). Over the past 10 years, GSM returned -8.98%/yr vs 6.21%/yr for PALL. At a 0.25 correlation, their price movements are largely independent.

Performance

GSM vs. PALL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ferroglobe PLC (GSM) and Aberdeen Standard Physical Palladium Shares ETF (PALL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSM achieves a -28.32% return, which is significantly lower than PALL's -21.83% return. Over the past 10 years, GSM has underperformed PALL with an annualized return of -8.98%, while PALL has yielded a comparatively higher 6.21% annualized return.

GSM

• 1D: 0.92%
• 1M: -19.00%
• 6M: -33.48%
• YTD: -28.32%
• 1Y: -26.43%
• 3Y*: -11.20%
• 5Y*: -10.29%
• 10Y*: -8.98%

PALL

• 1D: -1.47%
• 1M: -2.15%
• 6M: -32.92%
• YTD: -21.83%
• 1Y: 2.34%
• 3Y*: -1.17%
• 5Y*: -15.52%
• 10Y*: 6.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GSM vs. PALL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSM Ferroglobe PLC	-28.32%	23.75%	-40.95%	69.09%	-38.00%	278.66%	74.47%	-40.88%	-90.06%	49.58%
PALL Aberdeen Standard Physical Palladium Shares ETF	-21.83%	74.07%	-17.38%	-38.77%	-6.28%	-23.26%	25.27%	53.94%	17.23%	55.73%

Correlation

The correlation between GSM and PALL is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jan 14, 2010	0.25

Return for Risk

GSM vs. PALL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GSM

GSM Risk / Return Rank: 21
GSM Sharpe Ratio Rank: 23
GSM Sortino Ratio Rank: 25
GSM Omega Ratio Rank: 25
GSM Calmar Ratio Rank: 22
GSM Martin Ratio Rank: 10

PALL

PALL Risk / Return Rank: 11
PALL Sharpe Ratio Rank: 10
PALL Sortino Ratio Rank: 12
PALL Omega Ratio Rank: 13
PALL Calmar Ratio Rank: 10
PALL Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GSM vs. PALL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ferroglobe PLC (GSM) and Aberdeen Standard Physical Palladium Shares ETF (PALL). 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.

	GSM	PALL	Difference
Sharpe ratio: Return per unit of total volatility	-0.48	0.05	-0.52
Sortino ratio: Return per unit of downside risk	-0.38	0.41	-0.79
Omega ratio: Gain probability vs. loss probability	0.95	1.05	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.62	0.05	-0.67
Martin ratio: Return relative to average drawdown	-1.36	0.11	-1.47

GSM vs. PALL - Sharpe Ratio Comparison

The current GSM Sharpe Ratio is -0.48, which is lower than the PALL Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of GSM and PALL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GSM vs. PALL - Drawdown Comparison

The maximum GSM drawdown since its inception was -98.30%, which is greater than PALL's maximum drawdown of -73.63%. Use the drawdown chart below to compare losses from any high point for GSM and PALL.

Drawdown Indicators

	GSM	PALL	Difference
Max Drawdown Largest peak-to-trough decline	-98.30%	-73.63%	-24.67%
Max Drawdown (1Y) Largest decline over 1 year	-42.91%	-43.20%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-53.69%	-43.20%	-10.49%
Max Drawdown (5Y) Largest decline over 5 years	-67.30%	-73.63%	+6.33%
Max Drawdown (10Y) Largest decline over 10 years	-97.84%	-73.63%	-24.21%
Current Drawdown Current decline from peak	-84.31%	-61.47%	-22.84%
Average Drawdown Average peak-to-trough decline	-55.09%	-27.02%	-28.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.48%	20.49%	-1.01%

Volatility

GSM vs. PALL - Volatility Comparison

Ferroglobe PLC (GSM) has a higher volatility of 13.86% compared to Aberdeen Standard Physical Palladium Shares ETF (PALL) at 12.76%. This indicates that GSM's price experiences larger fluctuations and is considered to be riskier than PALL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSM	PALL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.86%	12.76%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	40.90%	36.37%	+4.53%
Volatility (1Y) Calculated over the trailing 1-year period	55.55%	50.61%	+4.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.01%	42.52%	+14.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.61%	38.10%	+36.51%

Dividends

GSM vs. PALL - Dividend Comparison

GSM's dividend yield for the trailing twelve months is around 1.76%, while PALL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSM Ferroglobe PLC	1.76%	1.21%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%	7.55%	0.00%	2.95%	2.98%
PALL Aberdeen Standard Physical Palladium Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSM and PALL in my portfolio?

GSM and PALL have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSM or PALL?

GSM has higher volatility (13.86%) compared to PALL (12.76%). In terms of maximum drawdown, GSM dropped -98.30% vs PALL's -73.63%.

Which has better risk-adjusted returns?

PALL currently has the higher Sharpe Ratio (0.05 vs -0.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.