SPDM.L vs. WCOG.L
SPDM.L (iShares Physical Palladium ETC) and WCOG.L (WisdomTree Enhanced Commodity UCITS ETF USD) are both Commodities funds - SPDM.L tracks the London Palladium PM Fix while WCOG.L tracks the Optimised Roll Commodity. Both are passively managed. Over the past 10 years, SPDM.L returned 10.16%/yr vs 9.11%/yr for WCOG.L. At a 0.30 correlation, their price movements are largely independent. SPDM.L charges 0.20%/yr vs 0.35%/yr for WCOG.L.
Performance
SPDM.L vs. WCOG.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 WCOG.L's 32.75% return. Over the past 10 years, SPDM.L has outperformed WCOG.L with an annualized return of 10.16%, while WCOG.L has yielded a comparatively lower 9.11% 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%
WCOG.L
- 1D
- 0.97%
- 1M
- 0.72%
- YTD
- 32.75%
- 6M
- 32.96%
- 1Y
- 46.54%
- 3Y*
- 13.95%
- 5Y*
- 12.98%
- 10Y*
- 9.11%
SPDM.L vs. WCOG.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% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 32.75% | 7.94% | 4.45% | -12.14% | 26.35% | 28.38% | -2.08% | 3.07% | -3.67% | -4.31% |
Correlation
The correlation between SPDM.L and WCOG.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.30 |
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Return for Risk
SPDM.L vs. WCOG.L — Risk / Return Rank
SPDM.L
WCOG.L
SPDM.L vs. WCOG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Palladium ETC (SPDM.L) and WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.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 | WCOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.47 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 6.80 | -5.70 |
| Martin ratioReturn relative to average drawdown | 2.37 | 16.97 | -14.60 |
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 | WCOG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 2.59 | -1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 0.85 | -1.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.65 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.66 | -0.51 |
Drawdowns
SPDM.L vs. WCOG.L - Drawdown Comparison
The maximum SPDM.L drawdown since its inception was -70.87%, which is greater than WCOG.L's maximum drawdown of -27.05%. Use the drawdown chart below to compare losses from any high point for SPDM.L and WCOG.L.
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Drawdown Indicators
| SPDM.L | WCOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.87% | -27.05% | -43.82% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -6.82% | -28.85% |
Max Drawdown (3Y)Largest decline over 3 years | -40.59% | -13.63% | -26.96% |
Max Drawdown (5Y)Largest decline over 5 years | -70.87% | -27.05% | -43.82% |
Max Drawdown (10Y)Largest decline over 10 years | -70.87% | -27.05% | -43.82% |
Current DrawdownCurrent decline from peak | -56.18% | -2.59% | -53.59% |
Average DrawdownAverage peak-to-trough decline | -25.10% | -10.98% | -14.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 2.74% | +13.80% |
Volatility
SPDM.L vs. WCOG.L - Volatility Comparison
iShares Physical Palladium ETC (SPDM.L) has a higher volatility of 10.84% compared to WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) at 6.16%. This indicates that SPDM.L's price experiences larger fluctuations and is considered to be riskier than WCOG.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 | WCOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 6.16% | +4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 37.16% | 15.64% | +21.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.70% | 17.89% | +26.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.85% | 15.32% | +26.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.57% | 14.02% | +23.55% |
SPDM.L vs. WCOG.L - Expense Ratio Comparison
SPDM.L has a 0.20% expense ratio, which is lower than WCOG.L's 0.35% expense ratio.
Dividends
SPDM.L vs. WCOG.L - Dividend Comparison
SPDM.L has not paid dividends to shareholders, while WCOG.L's dividend yield for the trailing twelve months is around 2.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPDM.L iShares Physical Palladium ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 2.64% | 4.56% | 4.54% | 0.65% | 0.00% | 0.30% | 1.64% | 1.64% | 0.46% |
Frequently Asked Questions
SPDM.L and WCOG.L have a correlation of 0.23, 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 0.35% for WCOG.L.
SPDM.L tracks London Palladium PM Fix, while WCOG.L tracks Optimised Roll Commodity. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.20% for SPDM.L and 0.35% for WCOG.L.
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