PALL vs. XLE
PALL (Aberdeen Standard Physical Palladium Shares ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - PALL is a Precious Metals fund tracking the Palladium London PM Fix ($/ozt), while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, PALL returned 7.79%/yr vs 9.37%/yr for XLE. At a 0.27 correlation, their price movements are largely independent. PALL charges 0.60%/yr vs 0.08%/yr for XLE.
Performance
PALL vs. XLE - 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 XLE's 23.49% return. Over the past 10 years, PALL has underperformed XLE with an annualized return of 7.79%, while XLE has yielded a comparatively higher 9.37% 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%
XLE
- 1D
- 0.74%
- 1M
- -7.80%
- YTD
- 23.49%
- 6M
- 24.07%
- 1Y
- 30.55%
- 3Y*
- 15.73%
- 5Y*
- 18.87%
- 10Y*
- 9.37%
PALL vs. XLE - 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% |
XLE State Street Energy Select Sector SPDR ETF | 23.49% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between PALL and XLE is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2010 | 0.27 |
Over the past year, the correlation between PALL and XLE has dropped to 0.01 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.
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Return for Risk
PALL vs. XLE — Risk / Return Rank
PALL
XLE
PALL vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aberdeen Standard Physical Palladium Shares ETF (PALL) and State Street Energy Select Sector SPDR ETF (XLE). 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 | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 2.18 | -1.84 |
| Martin ratioReturn relative to average drawdown | 0.75 | 6.53 | -5.78 |
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Drawdowns
PALL vs. XLE - Drawdown Comparison
The maximum PALL drawdown since its inception was -73.63%, roughly equal to the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for PALL and XLE.
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Drawdown Indicators
| PALL | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.63% | -71.26% | -2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -40.70% | -14.05% | -26.65% |
Max Drawdown (3Y)Largest decline over 3 years | -40.70% | -20.14% | -20.56% |
Max Drawdown (5Y)Largest decline over 5 years | -73.63% | -26.04% | -47.59% |
Max Drawdown (10Y)Largest decline over 10 years | -73.63% | -66.81% | -6.82% |
Current DrawdownCurrent decline from peak | -62.14% | -12.32% | -49.82% |
Average DrawdownAverage peak-to-trough decline | -26.91% | -17.96% | -8.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.39% | 4.69% | +13.70% |
Volatility
PALL vs. XLE - Volatility Comparison
Aberdeen Standard Physical Palladium Shares ETF (PALL) has a higher volatility of 12.76% compared to State Street Energy Select Sector SPDR ETF (XLE) at 7.12%. This indicates that PALL's price experiences larger fluctuations and is considered to be riskier than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PALL | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.76% | 7.12% | +5.64% |
Volatility (6M)Calculated over the trailing 6-month period | 42.39% | 16.82% | +25.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.04% | 20.93% | +30.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.41% | 25.98% | +16.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.03% | 29.60% | +8.43% |
PALL vs. XLE - Expense Ratio Comparison
PALL has a 0.60% expense ratio, which is higher than XLE's 0.08% expense ratio.
Dividends
PALL vs. XLE - Dividend Comparison
PALL has not paid dividends to shareholders, while XLE's dividend yield for the trailing twelve months is around 2.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XLE State Street Energy Select Sector SPDR ETF | 2.79% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
PALL and XLE have a correlation of 0.01, 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 XLE (7.12%). In terms of maximum drawdown, PALL dropped -73.63% vs XLE's -71.26%.
On 10-year performance, XLE leads with 9.37% vs 7.79% for PALL. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 7.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLE has performed better with a 9.37% return vs 7.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLE is cheaper with a 0.08% expense ratio, compared with 0.60% for PALL.
XLE has the higher dividend yield at 2.79%, compared with 0.00% for PALL.
PALL is categorized as Precious Metals, while XLE is Energy Equities. PALL tracks Palladium London PM Fix ($/ozt), while XLE tracks Energy Select Sector Index. They also come from different issuers: Aberdeen and State Street. Their fees differ too: 0.60% for PALL and 0.08% for XLE.
XLE currently has the higher Sharpe Ratio (1.48 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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