PA=F vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Palladium (PA=F) and S&P 500 Index (^GSPC).

Performance

PA=F vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Palladium (PA=F) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

PA=F vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PA=F Palladium	-9.07%	79.07%	-17.98%	-38.30%	-5.52%	-22.50%	28.42%	59.67%	13.49%	54.27%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, PA=F achieves a -9.07% return, which is significantly lower than ^GSPC's -3.95% return. Over the past 10 years, PA=F has underperformed ^GSPC with an annualized return of 10.20%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

PA=F

• 1D: 0.70%
• 1M: -15.95%
• YTD: -9.07%
• 6M: 16.16%
• 1Y: 48.03%
• 3Y*: 0.31%
• 5Y*: -11.11%
• 10Y*: 10.20%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

PA=F vs. ^GSPC — Risk / Return Rank

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

PA=F

PA=F Risk / Return Rank: 25
PA=F Sharpe Ratio Rank: 29
PA=F Sortino Ratio Rank: 26
PA=F Omega Ratio Rank: 31
PA=F Calmar Ratio Rank: 18
PA=F Martin Ratio Rank: 21

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

PA=F vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Palladium (PA=F) and S&P 500 Index (^GSPC). 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.

	PA=F	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.80	0.92	-0.12
Sortino ratio Return per unit of downside risk	1.24	1.41	-0.17
Omega ratio Gain probability vs. loss probability	1.18	1.21	-0.03
Calmar ratio Return relative to maximum drawdown	1.31	1.41	-0.11
Martin ratio Return relative to average drawdown	3.59	6.61	-3.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PA=F vs. ^GSPC - Sharpe Ratio Comparison

The current PA=F Sharpe Ratio is 0.80, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of PA=F and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PA=F	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	0.92	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	0.61	-0.85
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.68	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.46	-0.26

Correlation

The correlation between PA=F and ^GSPC is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

PA=F vs. ^GSPC - Drawdown Comparison

The maximum PA=F drawdown since its inception was -74.88%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for PA=F and ^GSPC.

Drawdown Indicators

	PA=F	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-74.88%	-56.78%	-18.10%
Max Drawdown (1Y) Largest decline over 1 year	-38.19%	-12.14%	-26.05%
Max Drawdown (5Y) Largest decline over 5 years	-74.88%	-25.43%	-49.45%
Max Drawdown (10Y) Largest decline over 10 years	-74.88%	-33.92%	-40.96%
Current Drawdown Current decline from peak	-54.96%	-5.78%	-49.18%
Average Drawdown Average peak-to-trough decline	-26.66%	-10.75%	-15.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.89%	2.60%	+11.29%

Volatility

PA=F vs. ^GSPC - Volatility Comparison

Palladium (PA=F) has a higher volatility of 13.59% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that PA=F's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PA=F	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.59%	5.37%	+8.22%
Volatility (6M) Calculated over the trailing 6-month period	46.85%	9.55%	+37.30%
Volatility (1Y) Calculated over the trailing 1-year period	51.49%	18.33%	+33.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.63%	16.90%	+26.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.42%	18.05%	+19.37%