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SPAP.L vs. EQQQ.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SPAP.L vs. EQQQ.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Physical Palladium (SPAP.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L).

SPAP.L and EQQQ.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPAP.L is a passively managed fund by Invesco that tracks the performance of the Palladium. It was launched on Apr 13, 2011. EQQQ.L is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Dec 2, 2002. Both SPAP.L and EQQQ.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPAP.L vs. EQQQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Physical Palladium (SPAP.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L). The values are adjusted to include any dividend payments, if applicable.

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SPAP.L vs. EQQQ.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPAP.L
Invesco Physical Palladium		-4.36%62.74%-17.91%-41.14%5.62%-19.64%19.57%47.38%24.58%42.70%
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		-4.21%11.54%28.55%47.79%-25.54%29.59%43.32%33.69%4.64%20.12%

Returns By Period

The year-to-date returns for both investments are quite close, with SPAP.L having a -4.36% return and EQQQ.L slightly higher at -4.21%. Over the past 10 years, SPAP.L has underperformed EQQQ.L with an annualized return of 10.73%, while EQQQ.L has yielded a comparatively higher 19.58% annualized return.

SPAP.L

1D
2.11%
1M
-14.31%
YTD
-4.36%
6M
21.61%
1Y
46.62%
3Y*
-2.05%
5Y*
-10.31%
10Y*
10.73%

EQQQ.L

1D
2.30%
1M
-2.65%
YTD
-4.21%
6M
-1.19%
1Y
20.70%
3Y*
20.06%
5Y*
13.89%
10Y*
19.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Physical Palladium

Invesco EQQQ NASDAQ-100 UCITS ETF

Often compared with SPAP.L:
SPAP.L vs. GLDSPAP.L vs. VTISPAP.L vs. PHSP.LSPAP.L vs. SCHGSPAP.L vs. AUCO.LSPAP.L vs. ESGP.LSPAP.L vs. EQQU.L
Often compared with EQQQ.L:
EQQQ.L vs. QQQEQQQ.L vs. QQQMEQQQ.L vs. EQGB.LEQQQ.L vs. CNX1.LEQQQ.L vs. EQQU.LEQQQ.L vs. CSPX.LEQQQ.L vs. XNAQ.L

SPAP.L vs. EQQQ.L - Expense Ratio Comparison

SPAP.L has a 0.19% expense ratio, which is lower than EQQQ.L's 0.30% expense ratio.

EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF
SPAP.L
Invesco Physical Palladium

Return for Risk

SPAP.L vs. EQQQ.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPAP.L
SPAP.L Risk / Return Rank: 5151
Overall Rank
SPAP.L Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
SPAP.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
SPAP.L Omega Ratio Rank: 5151
Omega Ratio Rank
SPAP.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
SPAP.L Martin Ratio Rank: 4242
Martin Ratio Rank
EQQQ.L
EQQQ.L Risk / Return Rank: 6060
Overall Rank
EQQQ.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
EQQQ.L Sortino Ratio Rank: 6161
Sortino Ratio Rank
EQQQ.L Omega Ratio Rank: 5757
Omega Ratio Rank
EQQQ.L Calmar Ratio Rank: 7070
Calmar Ratio Rank
EQQQ.L Martin Ratio Rank: 5555
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPAP.L vs. EQQQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Palladium (SPAP.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.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.

SPAP.LEQQQ.LDifference

Sharpe ratio

Return per unit of total volatility

1.08

1.09

-0.02

Sortino ratio

Return per unit of downside risk

1.55

1.62

-0.07

Omega ratio

Gain probability vs. loss probability

1.21

1.22

-0.01

Calmar ratio

Return relative to maximum drawdown

1.42

1.87

-0.45

Martin ratio

Return relative to average drawdown

4.38

5.60

-1.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPAP.L vs. EQQQ.L - Sharpe Ratio Comparison

The current SPAP.L Sharpe Ratio is 1.08, which is comparable to the EQQQ.L Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of SPAP.L and EQQQ.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SPAP.LEQQQ.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.08

1.09

-0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.25

0.72

-0.97

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.29

1.01

-0.72

Sharpe Ratio (All Time)

Calculated using the full available price history

0.19

0.86

-0.67

Correlation

The correlation between SPAP.L and EQQQ.L is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPAP.L vs. EQQQ.L - Dividend Comparison

SPAP.L has not paid dividends to shareholders, while EQQQ.L's dividend yield for the trailing twelve months is around 0.29%.

TTM20252024202320222021202020192018201720162015
SPAP.L
Invesco Physical Palladium		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		0.29%0.29%0.38%0.39%0.56%0.25%0.41%0.56%0.63%0.67%0.77%0.72%

Drawdowns

SPAP.L vs. EQQQ.L - Drawdown Comparison

The maximum SPAP.L drawdown since its inception was -70.89%, which is greater than EQQQ.L's maximum drawdown of -33.75%. Use the drawdown chart below to compare losses from any high point for SPAP.L and EQQQ.L.

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Drawdown Indicators

SPAP.LEQQQ.LDifference

Max Drawdown

Largest peak-to-trough decline

-70.89%

-33.75%

-37.14%

Max Drawdown (1Y)

Largest decline over 1 year

-35.27%

-10.97%

-24.30%

Max Drawdown (5Y)

Largest decline over 5 years

-70.89%

-27.76%

-43.13%

Max Drawdown (10Y)

Largest decline over 10 years

-70.89%

-27.76%

-43.13%

Current Drawdown

Current decline from peak

-51.70%

-8.20%

-43.50%

Average Drawdown

Average peak-to-trough decline

-26.79%

-5.64%

-21.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.40%

3.65%

+7.75%

Volatility

SPAP.L vs. EQQQ.L - Volatility Comparison

Invesco Physical Palladium (SPAP.L) has a higher volatility of 12.06% compared to Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L) at 4.86%. This indicates that SPAP.L's price experiences larger fluctuations and is considered to be riskier than EQQQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPAP.LEQQQ.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.06%

4.86%

+7.20%

Volatility (6M)

Calculated over the trailing 6-month period

37.47%

11.45%

+26.02%

Volatility (1Y)

Calculated over the trailing 1-year period

43.16%

18.93%

+24.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.36%

19.26%

+22.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

37.28%

19.37%

+17.91%