PALL vs. IAUM
PALL (abrdn Physical Palladium Shares ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - PALL is a Precious Metals fund tracking the Palladium London PM Fix ($/ozt), while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, PALL returned -14.08%/yr vs 17.35%/yr for IAUM. Their 0.46 correlation means their historical movements had little consistent relationship. PALL charges 0.60%/yr vs 0.09%/yr for IAUM.
Performance
PALL vs. IAUM - 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 IAUM's -6.09% 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%
IAUM
- 1D
- -1.46%
- 1M
- -1.68%
- 6M
- -16.73%
- YTD
- -6.09%
- 1Y
- 20.58%
- 3Y*
- 27.63%
- 5Y*
- 17.35%
- 10Y*
- —
- ALL TIME*
- 17.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $77.48M | $77.88M | $93.44M | |
| $12.54M | $14.21M | $19.69M |
PALL vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PALL abrdn Physical Palladium Shares ETF | -20.11% | 74.07% | -17.38% | -38.77% | -6.28% | -29.82% |
IAUM iShares Gold Trust Micro | -6.09% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between PALL and IAUM is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.46 |
The correlation between PALL and IAUM shifts across timeframes, from 0.46 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PALL vs. IAUM — Risk / Return Rank
PALL
IAUM
PALL vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Palladium Shares ETF (PALL) and iShares Gold Trust Micro (IAUM). 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 | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.17 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 0.88 | -0.72 |
| Martin ratioReturn relative to average drawdown | 0.31 | 1.90 | -1.59 |
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Drawdowns
PALL vs. IAUM - Drawdown Comparison
The maximum PALL drawdown since its inception was -73.63%, which is greater than IAUM's maximum drawdown of -26.31%. Use the drawdown chart below to compare losses from any high point for PALL and IAUM.
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Drawdown Indicators
| PALL | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.63% | -26.31% | -47.32% |
Max Drawdown (1Y)Largest decline over 1 year | -43.20% | -26.31% | -16.89% |
Max Drawdown (3Y)Largest decline over 3 years | -43.20% | -26.31% | -16.89% |
Max Drawdown (5Y)Largest decline over 5 years | -73.63% | -26.31% | -47.32% |
Max Drawdown (10Y)Largest decline over 10 years | -73.63% | — | — |
Current DrawdownCurrent decline from peak | -60.63% | -24.95% | -35.68% |
Average DrawdownAverage peak-to-trough decline | -27.13% | -5.87% | -21.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.01% | 12.14% | +9.87% |
Volatility
PALL vs. IAUM - Volatility Comparison
abrdn Physical Palladium Shares ETF (PALL) has a higher volatility of 11.96% compared to iShares Gold Trust Micro (IAUM) at 6.29%. This indicates that PALL's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PALL | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.96% | 6.29% | +5.67% |
Volatility (6M)Calculated over the trailing 6-month period | 35.54% | 23.21% | +12.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.62% | 27.81% | +22.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.62% | 18.33% | +24.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.19% | 18.19% | +20.00% |
PALL vs. IAUM - Expense Ratio Comparison
PALL has a 0.60% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
PALL vs. IAUM - Dividend Comparison
Neither PALL nor IAUM has paid dividends to shareholders.
Frequently Asked Questions
PALL and IAUM have a correlation of 0.65, 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 IAUM (6.29%). In terms of maximum drawdown, PALL dropped -73.63% vs IAUM's -26.31%.
On 5-year performance, IAUM leads with 17.35% vs -14.08% for PALL. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IAUM has performed better with a 17.35% return vs -14.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.60% for PALL.
PALL and IAUM have nearly identical dividend yields, around 0.00%.
PALL is categorized as Precious Metals, while IAUM is Gold. PALL tracks Palladium London PM Fix ($/ozt), while IAUM tracks LBMA Gold Price PM. They also come from different issuers: abrdn and iShares. Their fees differ too: 0.60% for PALL and 0.09% for IAUM.
IAUM currently has the higher Sharpe Ratio (0.83 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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