SPDM.L vs. BCOG.L
SPDM.L (iShares Physical Palladium ETC) and BCOG.L (L&G All Commodities UCITS ETF) are both Commodities funds - SPDM.L tracks the London Palladium PM Fix while BCOG.L tracks the Bloomberg Commodity. Both are passively managed. Over the past 5 years, SPDM.L returned -12.62%/yr vs 12.73%/yr for BCOG.L. At a 0.26 correlation, their price movements are largely independent. SPDM.L charges 0.20%/yr vs 0.15%/yr for BCOG.L.
Performance
SPDM.L vs. BCOG.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPDM.L achieves a -13.23% return, which is significantly lower than BCOG.L's 26.69% return.
SPDM.L
- 1D
- 0.55%
- 1M
- -9.27%
- YTD
- -13.23%
- 6M
- -7.76%
- 1Y
- 36.78%
- 3Y*
- -3.85%
- 5Y*
- -12.62%
- 10Y*
- 10.16%
BCOG.L
- 1D
- 0.70%
- 1M
- -0.33%
- YTD
- 26.69%
- 6M
- 24.71%
- 1Y
- 39.39%
- 3Y*
- 13.46%
- 5Y*
- 12.73%
- 10Y*
- —
SPDM.L vs. BCOG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPDM.L iShares Physical Palladium ETC | -13.23% | 62.20% | -17.63% | -41.15% | 5.58% | -19.60% | 19.23% | 47.36% | 25.02% | 16.65% |
BCOG.L L&G All Commodities UCITS ETF | 26.69% | 8.16% | 6.13% | -12.32% | 29.36% | 29.04% | -6.24% | 1.82% | -4.64% | 1.28% |
Correlation
The correlation between SPDM.L and BCOG.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017 | 0.26 |
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Return for Risk
SPDM.L vs. BCOG.L — Risk / Return Rank
SPDM.L
BCOG.L
SPDM.L vs. BCOG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Palladium ETC (SPDM.L) and L&G All Commodities UCITS ETF (BCOG.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.
| SPDM.L | BCOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.38 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 4.57 | -3.48 |
| Martin ratioReturn relative to average drawdown | 2.37 | 10.61 | -8.24 |
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
| SPDM.L | BCOG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 2.13 | -1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 0.75 | -1.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.50 | -0.36 |
Drawdowns
SPDM.L vs. BCOG.L - Drawdown Comparison
The maximum SPDM.L drawdown since its inception was -70.87%, which is greater than BCOG.L's maximum drawdown of -28.15%. Use the drawdown chart below to compare losses from any high point for SPDM.L and BCOG.L.
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Drawdown Indicators
| SPDM.L | BCOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.87% | -28.15% | -42.72% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -8.57% | -27.10% |
Max Drawdown (3Y)Largest decline over 3 years | -40.59% | -14.48% | -26.11% |
Max Drawdown (5Y)Largest decline over 5 years | -70.87% | -27.76% | -43.11% |
Max Drawdown (10Y)Largest decline over 10 years | -70.87% | — | — |
Current DrawdownCurrent decline from peak | -56.18% | -3.86% | -52.32% |
Average DrawdownAverage peak-to-trough decline | -25.10% | -11.67% | -13.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 3.70% | +12.84% |
Volatility
SPDM.L vs. BCOG.L - Volatility Comparison
iShares Physical Palladium ETC (SPDM.L) has a higher volatility of 10.84% compared to L&G All Commodities UCITS ETF (BCOG.L) at 6.04%. This indicates that SPDM.L's price experiences larger fluctuations and is considered to be riskier than BCOG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPDM.L | BCOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 6.04% | +4.80% |
Volatility (6M)Calculated over the trailing 6-month period | 37.16% | 15.82% | +21.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.70% | 18.45% | +26.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.85% | 16.88% | +24.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.57% | 15.70% | +21.87% |
SPDM.L vs. BCOG.L - Expense Ratio Comparison
SPDM.L has a 0.20% expense ratio, which is higher than BCOG.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPDM.L vs. BCOG.L - Dividend Comparison
Neither SPDM.L nor BCOG.L has paid dividends to shareholders.
Frequently Asked Questions
SPDM.L and BCOG.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BCOG.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BCOG.L is cheaper with a 0.15% expense ratio, compared with 0.20% for SPDM.L.
SPDM.L tracks London Palladium PM Fix, while BCOG.L tracks Bloomberg Commodity. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.20% for SPDM.L and 0.15% for BCOG.L.
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