PALL vs. GLDI
PALL (Aberdeen Standard Physical Palladium Shares ETF) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both exchange-traded funds - PALL is a Precious Metals fund tracking the Palladium London PM Fix ($/ozt), while GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, PALL returned 7.79%/yr vs 7.83%/yr for GLDI. At a 0.34 correlation, their price movements are largely independent. PALL charges 0.60%/yr vs 0.65%/yr for GLDI.
Performance
PALL vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, PALL achieves a -23.17% return, which is significantly lower than GLDI's -4.45% return. Both investments have delivered pretty close results over the past 10 years, with PALL having a 7.79% annualized return and GLDI not far ahead at 7.83%.
PALL
- 1D
- -2.40%
- 1M
- -8.89%
- YTD
- -23.17%
- 6M
- -33.98%
- 1Y
- 13.76%
- 3Y*
- -1.99%
- 5Y*
- -14.70%
- 10Y*
- 7.79%
GLDI
- 1D
- -1.62%
- 1M
- -7.19%
- YTD
- -4.45%
- 6M
- -5.42%
- 1Y
- 11.67%
- 3Y*
- 17.47%
- 5Y*
- 10.96%
- 10Y*
- 7.83%
PALL vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PALL Aberdeen Standard Physical Palladium Shares ETF | -23.17% | 74.07% | -17.38% | -38.77% | -6.28% | -23.26% | 25.27% | 53.94% | 17.23% | 55.73% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.45% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
Correlation
The correlation between PALL and GLDI is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013 | 0.34 |
The correlation between PALL and GLDI shifts across timeframes, from 0.33 (10 years) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PALL vs. GLDI — Risk / Return Rank
PALL
GLDI
PALL vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aberdeen Standard Physical Palladium Shares ETF (PALL) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). 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 | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.16 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.83 | -0.49 |
| Martin ratioReturn relative to average drawdown | 0.75 | 2.73 | -1.98 |
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Drawdowns
PALL vs. GLDI - Drawdown Comparison
The maximum PALL drawdown since its inception was -73.63%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for PALL and GLDI.
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Drawdown Indicators
| PALL | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.63% | -32.26% | -41.37% |
Max Drawdown (1Y)Largest decline over 1 year | -40.70% | -14.14% | -26.56% |
Max Drawdown (3Y)Largest decline over 3 years | -40.70% | -14.14% | -26.56% |
Max Drawdown (5Y)Largest decline over 5 years | -73.63% | -14.14% | -59.49% |
Max Drawdown (10Y)Largest decline over 10 years | -73.63% | -14.94% | -58.69% |
Current DrawdownCurrent decline from peak | -62.14% | -13.28% | -48.86% |
Average DrawdownAverage peak-to-trough decline | -26.91% | -13.99% | -12.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.39% | 4.30% | +14.09% |
Volatility
PALL vs. GLDI - Volatility Comparison
Aberdeen Standard Physical Palladium Shares ETF (PALL) has a higher volatility of 12.76% compared to UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) at 7.18%. This indicates that PALL's price experiences larger fluctuations and is considered to be riskier than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PALL | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.76% | 7.18% | +5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 42.39% | 14.58% | +27.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.04% | 15.99% | +35.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.41% | 11.58% | +30.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.03% | 11.52% | +26.51% |
PALL vs. GLDI - Expense Ratio Comparison
PALL has a 0.60% expense ratio, which is lower than GLDI's 0.65% expense ratio.
Dividends
PALL vs. GLDI - Dividend Comparison
PALL has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 26.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.67% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
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
PALL and GLDI have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PALL has higher volatility (12.76%) compared to GLDI (7.18%). In terms of maximum drawdown, PALL dropped -73.63% vs GLDI's -32.26%.
On 10-year performance, GLDI leads with 7.83% vs 7.79% for PALL. On fees, PALL is cheaper at 0.60% per year. On volatility, GLDI has been the lower-risk option at 7.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLDI has performed better with a 7.83% return vs 7.79%. 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 0.65% for GLDI.
GLDI has the higher dividend yield at 26.67%, compared with 0.00% for PALL.
PALL is categorized as Precious Metals, while GLDI is Gold. PALL tracks Palladium London PM Fix ($/ozt), while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: Aberdeen and UBS. Their fees differ too: 0.60% for PALL and 0.65% for GLDI.
GLDI currently has the higher Sharpe Ratio (0.73 vs 0.27), 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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