PALL vs. TBIL
PALL (Aberdeen Standard Physical Palladium Shares ETF) and TBIL (US Treasury 3 Month Bill ETF) are both exchange-traded funds - PALL is a Precious Metals fund tracking the Palladium London PM Fix ($/ozt), while TBIL is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index. Both are passively managed. Over the past 3 years, PALL returned -3.26%/yr vs 4.64%/yr for TBIL. At a correlation of -0.03, they often move in opposite directions. PALL charges 0.60%/yr vs 0.15%/yr for TBIL.
Performance
PALL vs. TBIL - Performance Comparison
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Returns By Period
In the year-to-date period, PALL achieves a -18.39% return, which is significantly lower than TBIL's 1.49% return.
PALL
- 1D
- -4.89%
- 1M
- -11.74%
- YTD
- -18.39%
- 6M
- -11.90%
- 1Y
- 28.17%
- 3Y*
- -3.26%
- 5Y*
- -14.89%
- 10Y*
- 8.36%
TBIL
- 1D
- 0.00%
- 1M
- 0.30%
- YTD
- 1.49%
- 6M
- 1.78%
- 1Y
- 3.93%
- 3Y*
- 4.64%
- 5Y*
- —
- 10Y*
- —
PALL vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PALL Aberdeen Standard Physical Palladium Shares ETF | -18.39% | 74.07% | -17.38% | -38.77% | -19.71% |
TBIL US Treasury 3 Month Bill ETF | 1.49% | 4.19% | 5.15% | 5.12% | 1.30% |
Correlation
The correlation between PALL and TBIL is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | -0.03 |
The correlation between PALL and TBIL shifts across timeframes, from -0.14 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PALL vs. TBIL — Risk / Return Rank
PALL
TBIL
PALL vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aberdeen Standard Physical Palladium Shares ETF (PALL) and US Treasury 3 Month Bill ETF (TBIL). 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.
| PALL | TBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.22 | ||
| Sortino ratioReturn per unit of downside risk | -57.36 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 17.16 | -16.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 196.84 | -196.06 |
| Martin ratioReturn relative to average drawdown | 1.74 | 934.41 | -932.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PALL | TBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 13.78 | -13.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 14.07 | -13.89 |
Drawdowns
PALL vs. TBIL - Drawdown Comparison
The maximum PALL drawdown since its inception was -73.63%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for PALL and TBIL.
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Drawdown Indicators
| PALL | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.63% | -0.10% | -73.53% |
Max Drawdown (1Y)Largest decline over 1 year | -36.18% | -0.02% | -36.16% |
Max Drawdown (3Y)Largest decline over 3 years | -40.47% | -0.02% | -40.45% |
Max Drawdown (5Y)Largest decline over 5 years | -73.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -73.63% | — | — |
Current DrawdownCurrent decline from peak | -59.78% | 0.00% | -59.78% |
Average DrawdownAverage peak-to-trough decline | -26.81% | -0.00% | -26.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.25% | 0.00% | +16.25% |
Volatility
PALL vs. TBIL - Volatility Comparison
Aberdeen Standard Physical Palladium Shares ETF (PALL) has a higher volatility of 10.54% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.08%. This indicates that PALL's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PALL | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.54% | 0.08% | +10.46% |
Volatility (6M)Calculated over the trailing 6-month period | 41.87% | 0.19% | +41.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.24% | 0.29% | +49.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.46% | 0.32% | +42.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.91% | 0.32% | +37.59% |
PALL vs. TBIL - Expense Ratio Comparison
PALL has a 0.60% expense ratio, which is higher than TBIL's 0.15% expense ratio.
Dividends
PALL vs. TBIL - Dividend Comparison
PALL has not paid dividends to shareholders, while TBIL's dividend yield for the trailing twelve months is around 3.82%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
PALL Aberdeen Standard Physical Palladium Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TBIL US Treasury 3 Month Bill ETF | 3.82% | 4.07% | 5.02% | 5.00% | 1.10% |
Frequently Asked Questions
PALL and TBIL have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PALL has higher volatility (10.54%) compared to TBIL (0.08%). In terms of maximum drawdown, PALL dropped -73.63% vs TBIL's -0.10%.
On 3-year performance, TBIL leads with 4.64% vs -3.26% for PALL. On fees, TBIL is cheaper at 0.15% per year. On volatility, TBIL has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TBIL has performed better with a 4.64% return vs -3.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBIL is cheaper with a 0.15% expense ratio, compared with 0.60% for PALL.
TBIL has the higher dividend yield at 3.82%, compared with 0.00% for PALL.
PALL is categorized as Precious Metals, while TBIL is Ultrashort Bond. PALL tracks Palladium London PM Fix ($/ozt), while TBIL tracks ICE BofA US Treasury Bill 3 Month Index. They also come from different issuers: Aberdeen and US Benchmark Series. Their fees differ too: 0.60% for PALL and 0.15% for TBIL.
TBIL currently has the higher Sharpe Ratio (13.78 vs 0.56), 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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