SPDM.L vs. SGLN.L
SPDM.L (iShares Physical Palladium ETC) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - SPDM.L is a Commodities fund tracking the London Palladium PM Fix, while SGLN.L is a Precious Metals fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SPDM.L returned 10.16%/yr vs 14.29%/yr for SGLN.L. At a 0.30 correlation, their price movements are largely independent.
Performance
SPDM.L vs. SGLN.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 SGLN.L's 3.17% return. Over the past 10 years, SPDM.L has underperformed SGLN.L with an annualized return of 10.16%, while SGLN.L has yielded a comparatively higher 14.29% annualized 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%
SGLN.L
- 1D
- -1.14%
- 1M
- -2.89%
- YTD
- 3.17%
- 6M
- 4.34%
- 1Y
- 33.24%
- 3Y*
- 27.91%
- 5Y*
- 19.95%
- 10Y*
- 14.29%
SPDM.L vs. SGLN.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% | 42.70% |
SGLN.L iShares Physical Gold ETC | 3.17% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between SPDM.L and SGLN.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.30 |
Over the past year, SPDM.L and SGLN.L have become more correlated (0.51) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
SPDM.L vs. SGLN.L — Risk / Return Rank
SPDM.L
SGLN.L
SPDM.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Palladium ETC (SPDM.L) and iShares Physical Gold ETC (SGLN.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 | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.88 | -0.79 |
| Martin ratioReturn relative to average drawdown | 2.37 | 5.03 | -2.65 |
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 | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 1.43 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 1.22 | -1.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.90 | -0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.55 | -0.40 |
Drawdowns
SPDM.L vs. SGLN.L - Drawdown Comparison
The maximum SPDM.L drawdown since its inception was -70.87%, which is greater than SGLN.L's maximum drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for SPDM.L and SGLN.L.
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Drawdown Indicators
| SPDM.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.87% | -41.71% | -29.16% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -17.57% | -18.10% |
Max Drawdown (3Y)Largest decline over 3 years | -40.59% | -17.57% | -23.02% |
Max Drawdown (5Y)Largest decline over 5 years | -70.87% | -17.57% | -53.30% |
Max Drawdown (10Y)Largest decline over 10 years | -70.87% | -21.91% | -48.96% |
Current DrawdownCurrent decline from peak | -56.18% | -16.59% | -39.59% |
Average DrawdownAverage peak-to-trough decline | -25.10% | -14.76% | -10.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 6.60% | +9.94% |
Volatility
SPDM.L vs. SGLN.L - Volatility Comparison
iShares Physical Palladium ETC (SPDM.L) has a higher volatility of 10.84% compared to iShares Physical Gold ETC (SGLN.L) at 5.08%. This indicates that SPDM.L's price experiences larger fluctuations and is considered to be riskier than SGLN.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 | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 5.08% | +5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 37.16% | 20.07% | +17.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.70% | 23.19% | +21.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.85% | 16.29% | +25.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.57% | 15.78% | +21.79% |
Dividends
SPDM.L vs. SGLN.L - Dividend Comparison
Neither SPDM.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
SPDM.L and SGLN.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPDM.L is categorized as Commodities, while SGLN.L is Precious Metals. SPDM.L tracks London Palladium PM Fix, while SGLN.L tracks LBMA Gold Price.
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