SPDM.L vs. UD08.L
SPDM.L (iShares Physical Palladium ETC) and UD08.L (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc) are both Commodities funds - SPDM.L tracks the London Palladium PM Fix while UD08.L tracks the UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged). Both are passively managed. Over the past year, SPDM.L returned 36.78% vs 43.63% for UD08.L. At a 0.29 correlation, their price movements are largely independent. SPDM.L charges 0.20%/yr vs 0.34%/yr for UD08.L.
Performance
SPDM.L vs. UD08.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 UD08.L's 25.78% 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%
UD08.L
- 1D
- -0.14%
- 1M
- 1.53%
- YTD
- 25.78%
- 6M
- 28.13%
- 1Y
- 43.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPDM.L vs. UD08.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPDM.L iShares Physical Palladium ETC | -13.23% | 52.79% |
UD08.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc | 25.78% | 14.80% |
Correlation
The correlation between SPDM.L and UD08.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025 | 0.29 |
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Return for Risk
SPDM.L vs. UD08.L — Risk / Return Rank
SPDM.L
UD08.L
SPDM.L vs. UD08.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) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.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 | UD08.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.58 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 6.75 | -5.65 |
| Martin ratioReturn relative to average drawdown | 2.37 | 21.31 | -18.94 |
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 | UD08.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 3.10 | -2.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | — | — |
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 | 2.71 | -2.57 |
Drawdowns
SPDM.L vs. UD08.L - Drawdown Comparison
The maximum SPDM.L drawdown since its inception was -70.87%, which is greater than UD08.L's maximum drawdown of -6.43%. Use the drawdown chart below to compare losses from any high point for SPDM.L and UD08.L.
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Drawdown Indicators
| SPDM.L | UD08.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.87% | -6.43% | -64.44% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -6.43% | -29.24% |
Max Drawdown (3Y)Largest decline over 3 years | -40.59% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -70.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -70.87% | — | — |
Current DrawdownCurrent decline from peak | -56.18% | -0.55% | -55.63% |
Average DrawdownAverage peak-to-trough decline | -25.10% | -1.41% | -23.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 2.04% | +14.50% |
Volatility
SPDM.L vs. UD08.L - Volatility Comparison
iShares Physical Palladium ETC (SPDM.L) has a higher volatility of 10.84% compared to UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L) at 2.74%. This indicates that SPDM.L's price experiences larger fluctuations and is considered to be riskier than UD08.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 | UD08.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 2.74% | +8.10% |
Volatility (6M)Calculated over the trailing 6-month period | 37.16% | 11.73% | +25.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.70% | 14.00% | +30.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.85% | 14.97% | +26.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.57% | 14.97% | +22.60% |
SPDM.L vs. UD08.L - Expense Ratio Comparison
SPDM.L has a 0.20% expense ratio, which is lower than UD08.L's 0.34% expense ratio.
Dividends
SPDM.L vs. UD08.L - Dividend Comparison
Neither SPDM.L nor UD08.L has paid dividends to shareholders.
Frequently Asked Questions
SPDM.L and UD08.L have a correlation of 0.33, 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 UD08.L.
SPDM.L tracks London Palladium PM Fix, while UD08.L tracks UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged). They also come from different issuers: iShares and UBS. Their fees differ too: 0.20% for SPDM.L and 0.34% for UD08.L.
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