PALL vs. FXZ
PALL (abrdn Physical Palladium Shares ETF) and FXZ (First Trust Materials AlphaDEX Fund) are both exchange-traded funds - PALL is a Precious Metals fund tracking the Palladium London PM Fix ($/ozt), while FXZ is a Materials fund tracking the StrataQuant Materials Index. Both are passively managed. Over the past 10 years, PALL returned 5.38%/yr vs 10.25%/yr for FXZ. Their 0.35 correlation means their historical movements had little consistent relationship. PALL charges 0.60%/yr vs 0.67%/yr for FXZ.
Performance
PALL vs. FXZ - Performance Comparison
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Returns By Period
In the year-to-date period, PALL achieves a -20.11% return, which is significantly lower than FXZ's 18.92% return. Over the past 10 years, PALL has underperformed FXZ with an annualized return of 5.38%, while FXZ has yielded a comparatively higher 10.25% annualized return.
PALL
- 1D
- -2.60%
- 1M
- 1.40%
- 6M
- -24.51%
- YTD
- -20.11%
- 1Y
- 5.49%
- 3Y*
- 0.52%
- 5Y*
- -14.08%
- 10Y*
- 5.38%
- ALL TIME*
- 6.05%
FXZ
- 1D
- -1.69%
- 1M
- -2.68%
- 6M
- 7.26%
- YTD
- 18.92%
- 1Y
- 38.67%
- 3Y*
- 5.94%
- 5Y*
- 7.59%
- 10Y*
- 10.25%
- ALL TIME*
- 8.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.44M | $3.68M | $4.56M | |
| $12.54M | $14.21M | $19.69M |
PALL vs. FXZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PALL abrdn Physical Palladium Shares ETF | -20.11% | 74.07% | -17.38% | -38.77% | -6.28% | -23.26% | 25.27% | 53.94% | 17.23% | 55.73% |
FXZ First Trust Materials AlphaDEX Fund | 18.92% | 16.25% | -16.31% | 16.27% | -0.92% | 30.84% | 22.52% | 21.52% | -22.62% | 23.72% |
Correlation
The correlation between PALL and FXZ is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.36 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2010 | 0.35 |
The correlation between PALL and FXZ shifts across timeframes, from 0.33 (10 years) to 0.48 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PALL vs. FXZ — Risk / Return Rank
PALL
FXZ
PALL vs. FXZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Palladium Shares ETF (PALL) and First Trust Materials AlphaDEX Fund (FXZ). 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.
| PALL | FXZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.27 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 2.81 | -2.64 |
| Martin ratioReturn relative to average drawdown | 0.31 | 8.65 | -8.34 |
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Drawdowns
PALL vs. FXZ - Drawdown Comparison
The maximum PALL drawdown since its inception was -73.63%, which is greater than FXZ's maximum drawdown of -65.46%. Use the drawdown chart below to compare losses from any high point for PALL and FXZ.
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Drawdown Indicators
| PALL | FXZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.63% | -65.46% | -8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -43.20% | -12.75% | -30.45% |
Max Drawdown (3Y)Largest decline over 3 years | -43.20% | -33.99% | -9.21% |
Max Drawdown (5Y)Largest decline over 5 years | -73.63% | -33.99% | -39.64% |
Max Drawdown (10Y)Largest decline over 10 years | -73.63% | -49.41% | -24.22% |
Current DrawdownCurrent decline from peak | -60.63% | -9.42% | -51.21% |
Average DrawdownAverage peak-to-trough decline | -27.13% | -11.31% | -15.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.01% | 4.13% | +17.88% |
Volatility
PALL vs. FXZ - Volatility Comparison
abrdn Physical Palladium Shares ETF (PALL) has a higher volatility of 11.96% compared to First Trust Materials AlphaDEX Fund (FXZ) at 6.20%. This indicates that PALL's price experiences larger fluctuations and is considered to be riskier than FXZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PALL | FXZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.96% | 6.20% | +5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 35.54% | 17.54% | +18.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.62% | 22.84% | +27.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.62% | 24.15% | +18.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.19% | 24.94% | +13.25% |
PALL vs. FXZ - Expense Ratio Comparison
PALL has a 0.60% expense ratio, which is lower than FXZ's 0.67% expense ratio.
Dividends
PALL vs. FXZ - Dividend Comparison
PALL has not paid dividends to shareholders, while FXZ's dividend yield for the trailing twelve months is around 1.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXZ First Trust Materials AlphaDEX Fund | 1.42% | 1.74% | 1.81% | 1.97% | 1.56% | 1.11% | 1.51% | 1.58% | 1.38% | 1.01% | 1.19% | 1.26% |
PALL abrdn 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
PALL and FXZ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PALL has higher volatility (11.96%) compared to FXZ (6.20%). In terms of maximum drawdown, PALL dropped -73.63% vs FXZ's -65.46%.
On 10-year performance, FXZ leads with 10.25% vs 5.38% for PALL. On fees, PALL is cheaper at 0.60% per year. On volatility, FXZ has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FXZ has performed better with a 10.25% return vs 5.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PALL is cheaper with a 0.60% expense ratio, compared with 0.67% for FXZ.
FXZ has the higher dividend yield at 1.42%, compared with 0.00% for PALL.
PALL is categorized as Precious Metals, while FXZ is Materials. PALL tracks Palladium London PM Fix ($/ozt), while FXZ tracks StrataQuant Materials Index. They also come from different issuers: abrdn and First Trust. Their fees differ too: 0.60% for PALL and 0.67% for FXZ.
FXZ currently has the higher Sharpe Ratio (1.57 vs 0.14), 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.
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