SPDM.L vs. UD06.L
SPDM.L (iShares Physical Palladium ETC) and UD06.L (UBS ETF (IE) Bloomberg Commodity CMCI SF UCITS ETF (hedged to GBP) A-acc) are both Commodities funds - SPDM.L tracks the London Palladium PM Fix while UD06.L tracks the UBS BCOM Constant Maturity Commodity (GBP Hedged). Both are passively managed. Over the past 5 years, SPDM.L returned -12.62%/yr vs 11.56%/yr for UD06.L. At a 0.31 correlation, their price movements are largely independent. SPDM.L charges 0.20%/yr vs 0.34%/yr for UD06.L.
Performance
SPDM.L vs. UD06.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 UD06.L's 20.98% 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%
UD06.L
- 1D
- -0.11%
- 1M
- 0.03%
- YTD
- 20.98%
- 6M
- 21.27%
- 1Y
- 33.71%
- 3Y*
- 14.76%
- 5Y*
- 11.56%
- 10Y*
- —
SPDM.L vs. UD06.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% | 38.23% |
UD06.L UBS ETF (IE) Bloomberg Commodity CMCI SF UCITS ETF (hedged to GBP) A-acc | 20.98% | 17.64% | 4.23% | -6.66% | 16.62% | 29.24% | 0.29% | 3.70% | -11.14% |
Correlation
The correlation between SPDM.L and UD06.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2018 | 0.31 |
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Return for Risk
SPDM.L vs. UD06.L — Risk / Return Rank
SPDM.L
UD06.L
SPDM.L vs. UD06.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Palladium ETC (SPDM.L) and UBS ETF (IE) Bloomberg Commodity CMCI SF UCITS ETF (hedged to GBP) A-acc (UD06.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 | UD06.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.46 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 5.43 | -4.33 |
| Martin ratioReturn relative to average drawdown | 2.37 | 14.38 | -12.00 |
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 | UD06.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 2.47 | -1.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 0.79 | -1.09 |
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 | 0.61 | -0.46 |
Drawdowns
SPDM.L vs. UD06.L - Drawdown Comparison
The maximum SPDM.L drawdown since its inception was -70.87%, which is greater than UD06.L's maximum drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for SPDM.L and UD06.L.
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Drawdown Indicators
| SPDM.L | UD06.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.87% | -32.66% | -38.21% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -6.18% | -29.49% |
Max Drawdown (3Y)Largest decline over 3 years | -40.59% | -10.32% | -30.27% |
Max Drawdown (5Y)Largest decline over 5 years | -70.87% | -23.45% | -47.42% |
Max Drawdown (10Y)Largest decline over 10 years | -70.87% | — | — |
Current DrawdownCurrent decline from peak | -56.18% | -2.83% | -53.35% |
Average DrawdownAverage peak-to-trough decline | -25.10% | -11.74% | -13.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 2.34% | +14.20% |
Volatility
SPDM.L vs. UD06.L - Volatility Comparison
iShares Physical Palladium ETC (SPDM.L) has a higher volatility of 10.84% compared to UBS ETF (IE) Bloomberg Commodity CMCI SF UCITS ETF (hedged to GBP) A-acc (UD06.L) at 4.87%. This indicates that SPDM.L's price experiences larger fluctuations and is considered to be riskier than UD06.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 | UD06.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 4.87% | +5.97% |
Volatility (6M)Calculated over the trailing 6-month period | 37.16% | 11.59% | +25.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.70% | 13.60% | +31.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.85% | 14.70% | +27.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.57% | 13.71% | +23.86% |
SPDM.L vs. UD06.L - Expense Ratio Comparison
SPDM.L has a 0.20% expense ratio, which is lower than UD06.L's 0.34% expense ratio.
Dividends
SPDM.L vs. UD06.L - Dividend Comparison
Neither SPDM.L nor UD06.L has paid dividends to shareholders.
Frequently Asked Questions
SPDM.L and UD06.L have a correlation of 0.31, 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 0.34% for UD06.L.
SPDM.L tracks London Palladium PM Fix, while UD06.L tracks UBS BCOM Constant Maturity Commodity (GBP Hedged). They also come from different issuers: iShares and UBS. Their fees differ too: 0.20% for SPDM.L and 0.34% for UD06.L.
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