PPDX.L vs. RMAP.L
PPDX.L (WisdomTree Physical Palladium) and RMAP.L (HANetf The Royal Mint Responsibly Sourced Physical Gold ETC) are both exchange-traded funds - PPDX.L is a Precious Metals fund tracking the LBMA Palladium Price, while RMAP.L is a Gold fund tracking the Gold. Both are passively managed. Over the past 5 years, PPDX.L returned -19.82%/yr vs 18.63%/yr for RMAP.L. At a 0.24 correlation, their price movements are largely independent. PPDX.L charges 0.49%/yr vs 0.22%/yr for RMAP.L.
Performance
PPDX.L vs. RMAP.L - Performance Comparison
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Returns By Period
In the year-to-date period, PPDX.L achieves a -24.26% return, which is significantly lower than RMAP.L's -5.00% return.
PPDX.L
- 1D
- 0.00%
- 1M
- -13.04%
- YTD
- -24.26%
- 6M
- -34.59%
- 1Y
- 14.67%
- 3Y*
- -5.21%
- 5Y*
- -19.82%
- 10Y*
- 4.40%
RMAP.L
- 1D
- 0.09%
- 1M
- -9.14%
- YTD
- -5.00%
- 6M
- -8.44%
- 1Y
- 24.57%
- 3Y*
- 25.90%
- 5Y*
- 18.63%
- 10Y*
- —
PPDX.L vs. RMAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PPDX.L WisdomTree Physical Palladium | -24.26% | 62.02% | -18.11% | -51.02% | -7.71% | -19.05% | -2.17% |
RMAP.L HANetf The Royal Mint Responsibly Sourced Physical Gold ETC | -5.00% | 53.50% | 27.99% | 7.09% | 11.74% | -2.96% | -12.44% |
Correlation
The correlation between PPDX.L and RMAP.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2020 | 0.24 |
Over the past year, PPDX.L and RMAP.L have become more correlated (0.56) than their long-term average of 0.24, meaning their price movements have been converging.
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Return for Risk
PPDX.L vs. RMAP.L — Risk / Return Rank
PPDX.L
RMAP.L
PPDX.L vs. RMAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Palladium (PPDX.L) and HANetf The Royal Mint Responsibly Sourced Physical Gold ETC (RMAP.L). 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.
| PPDX.L | RMAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.21 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 1.05 | -0.71 |
| Martin ratioReturn relative to average drawdown | 0.76 | 2.94 | -2.18 |
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Drawdowns
PPDX.L vs. RMAP.L - Drawdown Comparison
The maximum PPDX.L drawdown since its inception was -77.71%, which is greater than RMAP.L's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for PPDX.L and RMAP.L.
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Drawdown Indicators
| PPDX.L | RMAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.71% | -24.37% | -53.34% |
Max Drawdown (1Y)Largest decline over 1 year | -42.94% | -23.34% | -19.60% |
Max Drawdown (3Y)Largest decline over 3 years | -42.94% | -23.34% | -19.60% |
Max Drawdown (5Y)Largest decline over 5 years | -77.71% | -23.34% | -54.37% |
Max Drawdown (10Y)Largest decline over 10 years | -77.71% | — | — |
Current DrawdownCurrent decline from peak | -70.93% | -23.27% | -47.66% |
Average DrawdownAverage peak-to-trough decline | -28.35% | -9.27% | -19.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.38% | 8.34% | +11.04% |
Volatility
PPDX.L vs. RMAP.L - Volatility Comparison
WisdomTree Physical Palladium (PPDX.L) has a higher volatility of 12.02% compared to HANetf The Royal Mint Responsibly Sourced Physical Gold ETC (RMAP.L) at 8.09%. This indicates that PPDX.L's price experiences larger fluctuations and is considered to be riskier than RMAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPDX.L | RMAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.02% | 8.09% | +3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 37.29% | 21.09% | +16.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.16% | 23.97% | +21.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.82% | 21.78% | +22.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.44% | 22.61% | +15.83% |
PPDX.L vs. RMAP.L - Expense Ratio Comparison
PPDX.L has a 0.49% expense ratio, which is higher than RMAP.L's 0.22% expense ratio.
Dividends
PPDX.L vs. RMAP.L - Dividend Comparison
Neither PPDX.L nor RMAP.L has paid dividends to shareholders.
Frequently Asked Questions
PPDX.L and RMAP.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RMAP.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RMAP.L is cheaper with a 0.22% expense ratio, compared with 0.49% for PPDX.L.
PPDX.L is categorized as Precious Metals, while RMAP.L is Gold. PPDX.L tracks LBMA Palladium Price, while RMAP.L tracks Gold. They also come from different issuers: WisdomTree and HANetf. Their fees differ too: 0.49% for PPDX.L and 0.22% for RMAP.L.
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