PPDX.L vs. SGLD.L
PPDX.L (WisdomTree Physical Palladium) and SGLD.L (Invesco Physical Gold ETC) are both exchange-traded funds - PPDX.L is a Precious Metals fund tracking the LBMA Palladium Price, while SGLD.L is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, PPDX.L returned 4.40%/yr vs 11.60%/yr for SGLD.L. At a 0.24 correlation, their price movements are largely independent. PPDX.L charges 0.49%/yr vs 0.12%/yr for SGLD.L.
Performance
PPDX.L vs. SGLD.L - Performance Comparison
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Different Trading Currencies
PPDX.L is traded in GBp, while SGLD.L is traded in USD. To make them comparable, the SGLD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PPDX.L achieves a -24.26% return, which is significantly lower than SGLD.L's -4.73% return. Over the past 10 years, PPDX.L has underperformed SGLD.L with an annualized return of 4.40%, while SGLD.L has yielded a comparatively higher 11.60% annualized 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%
SGLD.L
- 1D
- 0.15%
- 1M
- -9.03%
- YTD
- -4.73%
- 6M
- -8.41%
- 1Y
- 25.15%
- 3Y*
- 26.09%
- 5Y*
- 18.75%
- 10Y*
- 11.60%
PPDX.L vs. SGLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPDX.L WisdomTree Physical Palladium | -24.26% | 62.02% | -18.11% | -51.02% | -7.71% | -19.05% | 22.83% | 51.27% | 18.90% | 55.60% |
SGLD.L Invesco Physical Gold ETC | -4.73% | 53.13% | 28.43% | 7.70% | 11.80% | -3.17% | 20.53% | 13.83% | 4.55% | 1.90% |
Correlation
The correlation between PPDX.L and SGLD.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.24 |
Over the past year, PPDX.L and SGLD.L have become more correlated (0.57) 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. SGLD.L — Risk / Return Rank
PPDX.L
SGLD.L
PPDX.L vs. SGLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Palladium (PPDX.L) and Invesco Physical Gold ETC (SGLD.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 | SGLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.20 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 1.08 | -0.74 |
| Martin ratioReturn relative to average drawdown | 0.76 | 3.08 | -2.32 |
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Drawdowns
PPDX.L vs. SGLD.L - Drawdown Comparison
The maximum PPDX.L drawdown since its inception was -77.71%, which is greater than SGLD.L's maximum drawdown of -41.62%. Use the drawdown chart below to compare losses from any high point for PPDX.L and SGLD.L.
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Drawdown Indicators
| PPDX.L | SGLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.71% | -41.62% | -36.09% |
Max Drawdown (1Y)Largest decline over 1 year | -42.94% | -23.08% | -19.86% |
Max Drawdown (3Y)Largest decline over 3 years | -42.94% | -23.08% | -19.86% |
Max Drawdown (5Y)Largest decline over 5 years | -77.71% | -23.08% | -54.63% |
Max Drawdown (10Y)Largest decline over 10 years | -77.71% | -23.08% | -54.63% |
Current DrawdownCurrent decline from peak | -70.93% | -22.88% | -48.05% |
Average DrawdownAverage peak-to-trough decline | -28.35% | -13.52% | -14.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.38% | 8.14% | +11.24% |
Volatility
PPDX.L vs. SGLD.L - Volatility Comparison
WisdomTree Physical Palladium (PPDX.L) has a higher volatility of 12.02% compared to Invesco Physical Gold ETC (SGLD.L) at 8.89%. This indicates that PPDX.L's price experiences larger fluctuations and is considered to be riskier than SGLD.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 | SGLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.02% | 8.89% | +3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 37.29% | 22.44% | +14.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.16% | 25.18% | +19.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.82% | 17.03% | +26.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.44% | 15.84% | +22.60% |
PPDX.L vs. SGLD.L - Expense Ratio Comparison
PPDX.L has a 0.49% expense ratio, which is higher than SGLD.L's 0.12% expense ratio.
Dividends
PPDX.L vs. SGLD.L - Dividend Comparison
Neither PPDX.L nor SGLD.L has paid dividends to shareholders.
Frequently Asked Questions
PPDX.L and SGLD.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLD.L is cheaper with a 0.12% expense ratio, compared with 0.49% for PPDX.L.
PPDX.L is categorized as Precious Metals, while SGLD.L is Gold. PPDX.L tracks LBMA Palladium Price, while SGLD.L tracks LBMA Gold Price PM. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.49% for PPDX.L and 0.12% for SGLD.L.
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