SPDM.L vs. COMF.L
SPDM.L (iShares Physical Palladium ETC) and COMF.L (L&G Longer Dated All Commodities UCITS ETF) are both Commodities funds - SPDM.L tracks the London Palladium PM Fix while COMF.L tracks the Bloomberg Commodity Index 3 Month Forward Total Return. Both are passively managed. Over the past 10 years, SPDM.L returned 6.10%/yr vs 7.94%/yr for COMF.L. At a 0.33 correlation, their price movements are largely independent. SPDM.L charges 0.20%/yr vs 0.30%/yr for COMF.L.
Performance
SPDM.L vs. COMF.L - Performance Comparison
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Different Trading Currencies
SPDM.L is traded in GBp, while COMF.L is traded in USD. To make them comparable, the COMF.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPDM.L achieves a -21.42% return, which is significantly lower than COMF.L's 15.79% return. Over the past 10 years, SPDM.L has underperformed COMF.L with an annualized return of 6.10%, while COMF.L has yielded a comparatively higher 7.94% annualized return.
SPDM.L
- 1D
- -2.32%
- 1M
- -8.21%
- 6M
- -30.07%
- YTD
- -21.42%
- 1Y
- -1.67%
- 3Y*
- -3.02%
- 5Y*
- -13.66%
- 10Y*
- 6.10%
COMF.L
- 1D
- 0.66%
- 1M
- 0.11%
- 6M
- 11.67%
- YTD
- 15.79%
- 1Y
- 24.06%
- 3Y*
- 10.14%
- 5Y*
- 11.75%
- 10Y*
- 7.94%
SPDM.L vs. COMF.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPDM.L iShares Physical Palladium ETC | -21.42% | 62.20% | -17.63% | -41.15% | 5.58% | -19.60% | 19.23% | 47.36% | 25.02% | 42.70% |
COMF.L L&G Longer Dated All Commodities UCITS ETF | 15.79% | 8.14% | 6.96% | -11.05% | 32.85% | 34.22% | -0.49% | 3.28% | -3.00% | -5.81% |
Correlation
The correlation between SPDM.L and COMF.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 | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.33 |
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Return for Risk
SPDM.L vs. COMF.L — Risk / Return Rank
SPDM.L
COMF.L
SPDM.L vs. COMF.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 Longer Dated All Commodities UCITS ETF (COMF.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.
| SPDM.L | COMF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.29 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 2.28 | -2.32 |
| Martin ratioReturn relative to average drawdown | -0.08 | 7.03 | -7.11 |
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Drawdowns
SPDM.L vs. COMF.L - Drawdown Comparison
The maximum SPDM.L drawdown since its inception was -70.87%, which is greater than COMF.L's maximum drawdown of -50.51%. Use the drawdown chart below to compare losses from any high point for SPDM.L and COMF.L.
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Drawdown Indicators
| SPDM.L | COMF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.87% | -50.51% | -20.36% |
Max Drawdown (1Y)Largest decline over 1 year | -42.90% | -10.49% | -32.41% |
Max Drawdown (3Y)Largest decline over 3 years | -42.90% | -13.06% | -29.84% |
Max Drawdown (5Y)Largest decline over 5 years | -70.87% | -23.88% | -46.99% |
Max Drawdown (10Y)Largest decline over 10 years | -70.87% | -23.97% | -46.90% |
Current DrawdownCurrent decline from peak | -60.31% | -6.65% | -53.66% |
Average DrawdownAverage peak-to-trough decline | -36.52% | -23.27% | -13.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.86% | 3.40% | +18.46% |
Volatility
SPDM.L vs. COMF.L - Volatility Comparison
iShares Physical Palladium ETC (SPDM.L) has a higher volatility of 11.16% compared to L&G Longer Dated All Commodities UCITS ETF (COMF.L) at 3.55%. This indicates that SPDM.L's price experiences larger fluctuations and is considered to be riskier than COMF.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 | COMF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.16% | 3.55% | +7.61% |
Volatility (6M)Calculated over the trailing 6-month period | 34.10% | 12.15% | +21.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.07% | 14.54% | +30.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.20% | 15.17% | +29.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.01% | 14.16% | +24.85% |
SPDM.L vs. COMF.L - Expense Ratio Comparison
SPDM.L has a 0.20% expense ratio, which is lower than COMF.L's 0.30% expense ratio.
Dividends
SPDM.L vs. COMF.L - Dividend Comparison
Neither SPDM.L nor COMF.L has paid dividends to shareholders.
Frequently Asked Questions
SPDM.L and COMF.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, SPDM.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPDM.L is cheaper with a 0.20% expense ratio, compared with 0.30% for COMF.L.
SPDM.L tracks London Palladium PM Fix, while COMF.L tracks Bloomberg Commodity Index 3 Month Forward Total Return. They also come from different issuers: iShares and L&G. Their fees differ too: 0.20% for SPDM.L and 0.30% for COMF.L.
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