PALL vs. IAUI

Last updated Jun 24, 2026

PALL (Aberdeen Standard Physical Palladium Shares ETF) and IAUI (NEOS Gold High Income ETF) are both exchange-traded funds - PALL is a Precious Metals fund tracking the Palladium London PM Fix ($/ozt), while IAUI is a Derivative Income fund actively managed by Neos. PALL is passively managed, while IAUI is actively managed. Over the past year, PALL returned 13.76% vs 12.83% for IAUI. A 0.54 correlation means they provide meaningful diversification when combined. PALL charges 0.60%/yr vs 0.78%/yr for IAUI.

Performance

PALL vs. IAUI - Performance Comparison

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

Returns By Period

In the year-to-date period, PALL achieves a -23.17% return, which is significantly lower than IAUI's -5.63% return.

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%

IAUI

• 1D: -2.15%
• 1M: -8.06%
• YTD: -5.63%
• 6M: -8.22%
• 1Y: 12.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PALL vs. IAUI - Yearly Performance Comparison

	2026 (YTD)	2025
PALL Aberdeen Standard Physical Palladium Shares ETF	-23.17%	58.61%
IAUI NEOS Gold High Income ETF	-5.63%	20.00%

Correlation

The correlation between PALL and IAUI is 0.57, 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	0.57
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.54

The correlation between PALL and IAUI has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

Return for Risk

PALL vs. IAUI — Risk / Return Rank

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

PALL

PALL Risk / Return Rank: 13
PALL Sharpe Ratio Rank: 12
PALL Sortino Ratio Rank: 14
PALL Omega Ratio Rank: 15
PALL Calmar Ratio Rank: 12
PALL Martin Ratio Rank: 12

IAUI

IAUI Risk / Return Rank: 18
IAUI Sharpe Ratio Rank: 19
IAUI Sortino Ratio Rank: 17
IAUI Omega Ratio Rank: 20
IAUI Calmar Ratio Rank: 16
IAUI Martin Ratio Rank: 18

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.

PALL vs. IAUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aberdeen Standard Physical Palladium Shares ETF (PALL) and NEOS Gold High Income ETF (IAUI). 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	IAUI	Difference
Sharpe ratio: Return per unit of total volatility	0.27	0.60	-0.33
Sortino ratio: Return per unit of downside risk	0.70	0.91	-0.21
Omega ratio: Gain probability vs. loss probability	1.09	1.13	-0.04
Calmar ratio: Return relative to maximum drawdown	0.34	0.63	-0.29
Martin ratio: Return relative to average drawdown	0.75	1.87	-1.12

PALL vs. IAUI - Sharpe Ratio Comparison

The current PALL Sharpe Ratio is 0.27, which is lower than the IAUI Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of PALL and IAUI, 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

PALL vs. IAUI - Drawdown Comparison

The maximum PALL drawdown since its inception was -73.63%, which is greater than IAUI's maximum drawdown of -20.43%. Use the drawdown chart below to compare losses from any high point for PALL and IAUI.

Drawdown Indicators

	PALL	IAUI	Difference
Max Drawdown Largest peak-to-trough decline	-73.63%	-20.43%	-53.20%
Max Drawdown (1Y) Largest decline over 1 year	-40.70%	-20.43%	-20.27%
Max Drawdown (3Y) Largest decline over 3 years	-40.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-73.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.63%	—	—
Current Drawdown Current decline from peak	-62.14%	-19.97%	-42.17%
Average Drawdown Average peak-to-trough decline	-26.91%	-4.13%	-22.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.39%	6.86%	+11.53%

Volatility

PALL vs. IAUI - Volatility Comparison

Aberdeen Standard Physical Palladium Shares ETF (PALL) has a higher volatility of 12.76% compared to NEOS Gold High Income ETF (IAUI) at 7.78%. This indicates that PALL's price experiences larger fluctuations and is considered to be riskier than IAUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PALL	IAUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.76%	7.78%	+4.98%
Volatility (6M) Calculated over the trailing 6-month period	42.39%	19.82%	+22.57%
Volatility (1Y) Calculated over the trailing 1-year period	51.04%	21.42%	+29.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.41%	21.06%	+21.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.03%	21.06%	+16.97%

PALL vs. IAUI - Expense Ratio Comparison

PALL has a 0.60% expense ratio, which is lower than IAUI's 0.78% expense ratio.

Dividends

PALL vs. IAUI - Dividend Comparison

PALL has not paid dividends to shareholders, while IAUI's dividend yield for the trailing twelve months is around 14.80%.

Position	TTM	2025
IAUI NEOS Gold High Income ETF	14.80%	6.88%
PALL Aberdeen Standard Physical Palladium Shares ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both PALL and IAUI in my portfolio?

PALL and IAUI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PALL or IAUI?

PALL has higher volatility (12.76%) compared to IAUI (7.78%). In terms of maximum drawdown, PALL dropped -73.63% vs IAUI's -20.43%.

Which ETF is better, PALL or IAUI?

On 1-year performance, PALL leads with 13.76% vs 12.83% for IAUI. On fees, PALL is cheaper at 0.60% per year. On volatility, IAUI has been the lower-risk option at 7.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PALL or IAUI?

Over the 1-year period, PALL has performed better with a 13.76% return vs 12.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PALL or IAUI?

PALL is cheaper with a 0.60% expense ratio, compared with 0.78% for IAUI.

Which ETF pays a higher dividend yield, PALL or IAUI?

IAUI has the higher dividend yield at 14.80%, compared with 0.00% for PALL.

What is the main difference between PALL and IAUI?

PALL is categorized as Precious Metals, while IAUI is Derivative Income. They also come from different issuers: Aberdeen and Neos. Their fees differ too: 0.60% for PALL and 0.78% for IAUI.

Which has better risk-adjusted returns?

IAUI currently has the higher Sharpe Ratio (0.60 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.