SPDM.L vs. GDIG.L
SPDM.L (iShares Physical Palladium ETC) and GDIG.L (VanEck S&P Global Mining UCITS ETF) are both exchange-traded funds - SPDM.L is a Commodities fund tracking the London Palladium PM Fix, while GDIG.L is a Materials fund tracking the S&P Global Mining Reduced Coal Index. Both are passively managed. Over the past 5 years, SPDM.L returned -12.62%/yr vs 15.86%/yr for GDIG.L. At a 0.39 correlation, their price movements are largely independent. SPDM.L charges 0.20%/yr vs 0.50%/yr for GDIG.L.
Performance
SPDM.L vs. GDIG.L - Performance Comparison
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Different Trading Currencies
SPDM.L is traded in GBp, while GDIG.L is traded in USD. To make them comparable, the GDIG.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 -13.23% return, which is significantly lower than GDIG.L's 18.14% 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%
GDIG.L
- 1D
- -2.35%
- 1M
- 5.17%
- YTD
- 18.14%
- 6M
- 25.38%
- 1Y
- 88.23%
- 3Y*
- 26.82%
- 5Y*
- 15.86%
- 10Y*
- —
SPDM.L vs. GDIG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPDM.L iShares Physical Palladium ETC | -13.23% | 62.20% | -17.63% | -41.15% | 5.58% | -19.60% | 19.23% | 47.36% | 39.71% |
GDIG.L VanEck S&P Global Mining UCITS ETF | 18.14% | 77.01% | -7.08% | -0.65% | 15.96% | 8.15% | 27.51% | 20.58% | -6.44% |
Correlation
The correlation between SPDM.L and GDIG.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2018 | 0.39 |
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Return for Risk
SPDM.L vs. GDIG.L — Risk / Return Rank
SPDM.L
GDIG.L
SPDM.L vs. GDIG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Palladium ETC (SPDM.L) and VanEck S&P Global Mining UCITS ETF (GDIG.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 | GDIG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.41 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 3.77 | -2.67 |
| Martin ratioReturn relative to average drawdown | 2.37 | 12.64 | -10.27 |
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 | GDIG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 2.64 | -1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 0.56 | -0.86 |
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 | 0.60 | -0.46 |
Drawdowns
SPDM.L vs. GDIG.L - Drawdown Comparison
The maximum SPDM.L drawdown since its inception was -70.87%, which is greater than GDIG.L's maximum drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for SPDM.L and GDIG.L.
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Drawdown Indicators
| SPDM.L | GDIG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.87% | -33.58% | -37.29% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -23.29% | -12.38% |
Max Drawdown (3Y)Largest decline over 3 years | -40.59% | -23.29% | -17.30% |
Max Drawdown (5Y)Largest decline over 5 years | -70.87% | -30.31% | -40.56% |
Max Drawdown (10Y)Largest decline over 10 years | -70.87% | — | — |
Current DrawdownCurrent decline from peak | -56.18% | -10.73% | -45.45% |
Average DrawdownAverage peak-to-trough decline | -25.10% | -10.42% | -14.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 6.96% | +9.58% |
Volatility
SPDM.L vs. GDIG.L - Volatility Comparison
The current volatility for iShares Physical Palladium ETC (SPDM.L) is 10.84%, while VanEck S&P Global Mining UCITS ETF (GDIG.L) has a volatility of 11.96%. This indicates that SPDM.L experiences smaller price fluctuations and is considered to be less risky than GDIG.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 | GDIG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 11.96% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 37.16% | 27.77% | +9.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.70% | 33.27% | +11.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.85% | 28.51% | +13.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.57% | 27.67% | +9.90% |
SPDM.L vs. GDIG.L - Expense Ratio Comparison
SPDM.L has a 0.20% expense ratio, which is lower than GDIG.L's 0.50% expense ratio.
Dividends
SPDM.L vs. GDIG.L - Dividend Comparison
Neither SPDM.L nor GDIG.L has paid dividends to shareholders.
Frequently Asked Questions
SPDM.L and GDIG.L have a correlation of 0.48, 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 0.50% for GDIG.L.
SPDM.L is categorized as Commodities, while GDIG.L is Materials. SPDM.L tracks London Palladium PM Fix, while GDIG.L tracks S&P Global Mining Reduced Coal Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.20% for SPDM.L and 0.50% for GDIG.L.
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