UC90.L vs. SPDM.L
UC90.L (UBS ETF (IE) CMCI Composite SF UCITS ETF (hedged to GBP) A-acc) and SPDM.L (iShares Physical Palladium ETC) are both Commodities funds - UC90.L tracks the UBS CMCI (GBP Hedged) while SPDM.L tracks the London Palladium PM Fix. Both are passively managed. Over the past 10 years, UC90.L returned 7.57%/yr vs 9.87%/yr for SPDM.L. At a 0.29 correlation, their price movements are largely independent. UC90.L charges 0.34%/yr vs 0.20%/yr for SPDM.L.
Performance
UC90.L vs. SPDM.L - Performance Comparison
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Returns By Period
In the year-to-date period, UC90.L achieves a 21.40% return, which is significantly higher than SPDM.L's -15.50% return. Over the past 10 years, UC90.L has underperformed SPDM.L with an annualized return of 7.57%, while SPDM.L has yielded a comparatively higher 9.87% annualized return.
UC90.L
- 1D
- -1.30%
- 1M
- -1.81%
- YTD
- 21.40%
- 6M
- 22.49%
- 1Y
- 30.42%
- 3Y*
- 12.90%
- 5Y*
- 10.87%
- 10Y*
- 7.57%
SPDM.L
- 1D
- -2.62%
- 1M
- -9.97%
- YTD
- -15.50%
- 6M
- -8.50%
- 1Y
- 35.48%
- 3Y*
- -4.70%
- 5Y*
- -13.18%
- 10Y*
- 9.87%
UC90.L vs. SPDM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UC90.L UBS ETF (IE) CMCI Composite SF UCITS ETF (hedged to GBP) A-acc | 21.40% | 9.58% | 4.52% | -2.02% | 14.86% | 33.21% | -1.26% | 5.91% | -11.85% | 5.39% |
SPDM.L iShares Physical Palladium ETC | -15.50% | 62.20% | -17.63% | -41.15% | 5.58% | -19.60% | 19.23% | 47.36% | 25.02% | 42.70% |
Correlation
The correlation between UC90.L and SPDM.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 | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2015 | 0.29 |
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Return for Risk
UC90.L vs. SPDM.L — Risk / Return Rank
UC90.L
SPDM.L
UC90.L vs. SPDM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI Composite SF UCITS ETF (hedged to GBP) A-acc (UC90.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.
| UC90.L | SPDM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.16 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 6.33 | 0.91 | +5.41 |
| Martin ratioReturn relative to average drawdown | 14.07 | 1.98 | +12.09 |
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
| UC90.L | SPDM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.43 | 0.74 | +1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | -0.31 | +1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.26 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.14 | +0.24 |
Drawdowns
UC90.L vs. SPDM.L - Drawdown Comparison
The maximum UC90.L drawdown since its inception was -41.45%, smaller than the maximum SPDM.L drawdown of -70.87%. Use the drawdown chart below to compare losses from any high point for UC90.L and SPDM.L.
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Drawdown Indicators
| UC90.L | SPDM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.45% | -70.87% | +29.42% |
Max Drawdown (1Y)Largest decline over 1 year | -4.79% | -36.26% | +31.47% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -40.59% | +29.12% |
Max Drawdown (5Y)Largest decline over 5 years | -19.19% | -70.87% | +51.68% |
Max Drawdown (10Y)Largest decline over 10 years | -38.26% | -70.87% | +32.61% |
Current DrawdownCurrent decline from peak | -4.67% | -57.32% | +52.65% |
Average DrawdownAverage peak-to-trough decline | -13.18% | -25.10% | +11.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 16.70% | -14.54% |
Volatility
UC90.L vs. SPDM.L - Volatility Comparison
The current volatility for UBS ETF (IE) CMCI Composite SF UCITS ETF (hedged to GBP) A-acc (UC90.L) is 4.94%, while iShares Physical Palladium ETC (SPDM.L) has a volatility of 10.52%. This indicates that UC90.L experiences smaller price fluctuations and is considered to be less risky 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
| UC90.L | SPDM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 10.52% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 37.20% | -26.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.48% | 44.75% | -32.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.75% | 41.86% | -27.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.23% | 37.58% | -23.35% |
UC90.L vs. SPDM.L - Expense Ratio Comparison
UC90.L has a 0.34% expense ratio, which is higher than SPDM.L's 0.20% expense ratio.
Dividends
UC90.L vs. SPDM.L - Dividend Comparison
Neither UC90.L nor SPDM.L has paid dividends to shareholders.
Frequently Asked Questions
UC90.L and SPDM.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 0.34% for UC90.L.
UC90.L tracks UBS CMCI (GBP Hedged), while SPDM.L tracks London Palladium PM Fix. They also come from different issuers: UBS and iShares. Their fees differ too: 0.34% for UC90.L and 0.20% for SPDM.L.
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