SSLN.L vs. SPDM.L
SSLN.L (iShares Physical Silver ETC) and SPDM.L (iShares Physical Palladium ETC) are both exchange-traded funds - SSLN.L is a Silver fund tracking the LBMA Silver Price, while SPDM.L is a Commodities fund tracking the London Palladium PM Fix. Both are passively managed. Over the past 10 years, SSLN.L returned 16.77%/yr vs 10.16%/yr for SPDM.L. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
SSLN.L vs. SPDM.L - Performance Comparison
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Returns By Period
In the year-to-date period, SSLN.L achieves a 2.69% return, which is significantly higher than SPDM.L's -13.23% return. Over the past 10 years, SSLN.L has outperformed SPDM.L with an annualized return of 16.77%, while SPDM.L has yielded a comparatively lower 10.16% annualized return.
SSLN.L
- 1D
- -3.04%
- 1M
- -2.09%
- YTD
- 2.69%
- 6M
- 23.96%
- 1Y
- 113.86%
- 3Y*
- 41.85%
- 5Y*
- 22.87%
- 10Y*
- 16.77%
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%
SSLN.L vs. SPDM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLN.L iShares Physical Silver ETC | 2.69% | 130.26% | 23.21% | -6.20% | 15.75% | -11.64% | 40.73% | 12.68% | -3.48% | -5.59% |
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% |
Correlation
The correlation between SSLN.L and SPDM.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.37 |
Over the past year, SSLN.L and SPDM.L have become more correlated (0.64) than their long-term average of 0.37, meaning their price movements have been converging.
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Return for Risk
SSLN.L vs. SPDM.L — Risk / Return Rank
SSLN.L
SPDM.L
SSLN.L vs. SPDM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (SSLN.L) and iShares Physical Palladium ETC (SPDM.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.
| SSLN.L | SPDM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.18 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 1.10 | +1.83 |
| Martin ratioReturn relative to average drawdown | 6.46 | 2.37 | +4.09 |
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
| SSLN.L | SPDM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 0.88 | +1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | -0.30 | +0.99 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.27 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.14 | +0.02 |
Drawdowns
SSLN.L vs. SPDM.L - Drawdown Comparison
The maximum SSLN.L drawdown since its inception was -69.95%, roughly equal to the maximum SPDM.L drawdown of -70.87%. Use the drawdown chart below to compare losses from any high point for SSLN.L and SPDM.L.
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Drawdown Indicators
| SSLN.L | SPDM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.95% | -70.87% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -38.72% | -35.67% | -3.05% |
Max Drawdown (3Y)Largest decline over 3 years | -38.72% | -40.59% | +1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -38.72% | -70.87% | +32.15% |
Max Drawdown (10Y)Largest decline over 10 years | -38.72% | -70.87% | +32.15% |
Current DrawdownCurrent decline from peak | -33.93% | -56.18% | +22.25% |
Average DrawdownAverage peak-to-trough decline | -45.32% | -25.10% | -20.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.56% | 16.54% | +1.02% |
Volatility
SSLN.L vs. SPDM.L - Volatility Comparison
iShares Physical Silver ETC (SSLN.L) has a higher volatility of 16.55% compared to iShares Physical Palladium ETC (SPDM.L) at 10.84%. This indicates that SSLN.L's price experiences larger fluctuations and is considered to be riskier than SPDM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSLN.L | SPDM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 10.84% | +5.71% |
Volatility (6M)Calculated over the trailing 6-month period | 52.03% | 37.16% | +14.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.53% | 44.70% | +9.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.31% | 41.85% | -8.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.70% | 37.57% | -7.87% |
SSLN.L vs. SPDM.L - Expense Ratio Comparison
Both SSLN.L and SPDM.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SSLN.L vs. SPDM.L - Dividend Comparison
Neither SSLN.L nor SPDM.L has paid dividends to shareholders.
Frequently Asked Questions
SSLN.L and SPDM.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SSLN.L and SPDM.L have the same expense ratio: 0.20% per year.
SSLN.L is categorized as Silver, while SPDM.L is Commodities. SSLN.L tracks LBMA Silver Price, while SPDM.L tracks London Palladium PM Fix.
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