PALL vs. SPPP
PALL (Aberdeen Standard Physical Palladium Shares ETF) and SPPP (Sprott Physical Platinum and Palladium Trust) are both Precious Metals funds. PALL is passively managed, while SPPP is actively managed. Over the past 10 years, PALL returned 7.79%/yr vs 7.16%/yr for SPPP. Their correlation of 0.85 suggests significant overlap in exposure. PALL charges 0.60%/yr vs 1.02%/yr for SPPP.
Performance
PALL vs. SPPP - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PALL having a -23.17% return and SPPP slightly higher at -23.16%. Over the past 10 years, PALL has outperformed SPPP with an annualized return of 7.79%, while SPPP has yielded a comparatively lower 7.16% annualized 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%
SPPP
- 1D
- -1.97%
- 1M
- -12.98%
- YTD
- -23.16%
- 6M
- -30.73%
- 1Y
- 12.52%
- 3Y*
- 4.71%
- 5Y*
- -6.90%
- 10Y*
- 7.16%
PALL vs. SPPP - 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% |
SPPP Sprott Physical Platinum and Palladium Trust | -23.16% | 89.43% | -11.89% | -25.86% | -2.37% | -21.77% | 23.84% | 46.00% | 5.53% | 35.36% |
Correlation
The correlation between PALL and SPPP is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2012 | 0.85 |
The correlation between PALL and SPPP has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
PALL vs. SPPP — Risk / Return Rank
PALL
SPPP
PALL vs. SPPP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aberdeen Standard Physical Palladium Shares ETF (PALL) and Sprott Physical Platinum and Palladium Trust (SPPP). 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 | SPPP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.09 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.29 | +0.05 |
| Martin ratioReturn relative to average drawdown | 0.75 | 0.63 | +0.12 |
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Drawdowns
PALL vs. SPPP - Drawdown Comparison
The maximum PALL drawdown since its inception was -73.63%, which is greater than SPPP's maximum drawdown of -59.09%. Use the drawdown chart below to compare losses from any high point for PALL and SPPP.
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Drawdown Indicators
| PALL | SPPP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.63% | -59.09% | -14.54% |
Max Drawdown (1Y)Largest decline over 1 year | -40.70% | -42.69% | +1.99% |
Max Drawdown (3Y)Largest decline over 3 years | -40.70% | -42.69% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -73.63% | -58.50% | -15.13% |
Max Drawdown (10Y)Largest decline over 10 years | -73.63% | -59.09% | -14.54% |
Current DrawdownCurrent decline from peak | -62.14% | -42.69% | -19.45% |
Average DrawdownAverage peak-to-trough decline | -26.91% | -26.52% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.39% | 19.78% | -1.39% |
Volatility
PALL vs. SPPP - Volatility Comparison
Aberdeen Standard Physical Palladium Shares ETF (PALL) has a higher volatility of 12.76% compared to Sprott Physical Platinum and Palladium Trust (SPPP) at 11.75%. This indicates that PALL's price experiences larger fluctuations and is considered to be riskier than SPPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PALL | SPPP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.76% | 11.75% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 42.39% | 46.33% | -3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.04% | 51.46% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.41% | 35.04% | +7.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.03% | 33.25% | +4.78% |
PALL vs. SPPP - Expense Ratio Comparison
PALL has a 0.60% expense ratio, which is lower than SPPP's 1.02% expense ratio.
Dividends
PALL vs. SPPP - Dividend Comparison
Neither PALL nor SPPP has paid dividends to shareholders.
Frequently Asked Questions
PALL and SPPP have a correlation of 0.88, 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 SPPP (11.75%). In terms of maximum drawdown, PALL dropped -73.63% vs SPPP's -59.09%.
On 10-year performance, PALL leads with 7.79% vs 7.16% for SPPP. On fees, PALL is cheaper at 0.60% per year. On volatility, SPPP has been the lower-risk option at 11.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PALL has performed better with a 7.79% return vs 7.16%. 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 1.02% for SPPP.
PALL and SPPP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Aberdeen and Sprott. Their fees differ too: 0.60% for PALL and 1.02% for SPPP.
PALL currently has the higher Sharpe Ratio (0.27 vs 0.24), 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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