PA=F vs. XAUUSD=X

Last updated Apr 3, 2026

Compare and contrast key facts about Palladium (PA=F) and Gold Spot Price US Dollar (XAUUSD=X).

Performance

PA=F vs. XAUUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Palladium (PA=F) and Gold Spot Price US Dollar (XAUUSD=X). The values are adjusted to include any dividend payments, if applicable.

PA=F vs. XAUUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PA=F Palladium	-7.01%	79.07%	-17.98%	-38.30%	-5.52%	-22.50%	28.42%	59.67%	13.49%	54.27%
XAUUSD=X Gold Spot Price US Dollar	8.19%	64.75%	27.24%	13.14%	-0.25%	-3.50%	24.55%	18.77%	-1.71%	13.14%

Returns By Period

In the year-to-date period, PA=F achieves a -7.01% return, which is significantly lower than XAUUSD=X's 8.19% return. Over the past 10 years, PA=F has underperformed XAUUSD=X with an annualized return of 10.62%, while XAUUSD=X has yielded a comparatively higher 14.43% annualized return.

PA=F

• 1D: 2.48%
• 1M: -7.34%
• YTD: -7.01%
• 6M: 20.30%
• 1Y: 53.76%
• 3Y*: 1.29%
• 5Y*: -10.71%
• 10Y*: 10.62%

XAUUSD=X

• 1D: -1.71%
• 1M: -8.10%
• YTD: 8.19%
• 6M: 21.27%
• 1Y: 49.22%
• 3Y*: 33.08%
• 5Y*: 21.93%
• 10Y*: 14.43%

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

Return for Risk

PA=F vs. XAUUSD=X — 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: 35
PA=F Sortino Ratio Rank: 31
PA=F Omega Ratio Rank: 28
PA=F Calmar Ratio Rank: 18
PA=F Martin Ratio Rank: 16

XAUUSD=X

XAUUSD=X Risk / Return Rank: 89
XAUUSD=X Sharpe Ratio Rank: 93
XAUUSD=X Sortino Ratio Rank: 91
XAUUSD=X Omega Ratio Rank: 91
XAUUSD=X Calmar Ratio Rank: 84
XAUUSD=X Martin Ratio Rank: 87

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. XAUUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Palladium (PA=F) and Gold Spot Price US Dollar (XAUUSD=X). 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	XAUUSD=X	Difference
Sharpe ratio Return per unit of total volatility	0.89	1.61	-0.72
Sortino ratio Return per unit of downside risk	1.33	2.08	-0.75
Omega ratio Gain probability vs. loss probability	1.20	1.31	-0.11
Calmar ratio Return relative to maximum drawdown	1.23	1.93	-0.71
Martin ratio Return relative to average drawdown	3.35	6.72	-3.37
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. XAUUSD=X - Sharpe Ratio Comparison

The current PA=F Sharpe Ratio is 0.89, which is lower than the XAUUSD=X Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of PA=F and XAUUSD=X, 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	XAUUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	1.61	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	1.20	-1.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.90	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.59	-0.39

Correlation

The correlation between PA=F and XAUUSD=X is 0.36, 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. XAUUSD=X - Drawdown Comparison

The maximum PA=F drawdown since its inception was -74.88%, which is greater than XAUUSD=X's maximum drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for PA=F and XAUUSD=X.

Drawdown Indicators

	PA=F	XAUUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-74.88%	-44.69%	-30.19%
Max Drawdown (1Y) Largest decline over 1 year	-38.19%	-19.70%	-18.49%
Max Drawdown (5Y) Largest decline over 5 years	-74.88%	-20.81%	-54.07%
Max Drawdown (10Y) Largest decline over 10 years	-74.88%	-21.35%	-53.53%
Current Drawdown Current decline from peak	-53.94%	-13.69%	-40.25%
Average Drawdown Average peak-to-trough decline	-26.67%	-16.32%	-10.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.02%	5.67%	+8.35%

Volatility

PA=F vs. XAUUSD=X - Volatility Comparison

Palladium (PA=F) has a higher volatility of 13.67% compared to Gold Spot Price US Dollar (XAUUSD=X) at 9.69%. This indicates that PA=F's price experiences larger fluctuations and is considered to be riskier than XAUUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PA=F	XAUUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.67%	9.69%	+3.98%
Volatility (6M) Calculated over the trailing 6-month period	46.40%	21.25%	+25.15%
Volatility (1Y) Calculated over the trailing 1-year period	51.53%	23.73%	+27.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.63%	16.36%	+27.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.42%	15.04%	+22.38%