WCOG.L vs. SPDM.L
WCOG.L (WisdomTree Enhanced Commodity UCITS ETF USD) and SPDM.L (iShares Physical Palladium ETC) are both Commodities funds - WCOG.L tracks the Optimised Roll Commodity while SPDM.L tracks the London Palladium PM Fix. Both are passively managed. Over the past 10 years, WCOG.L returned 8.85%/yr vs 9.87%/yr for SPDM.L. At a 0.30 correlation, their price movements are largely independent. WCOG.L charges 0.35%/yr vs 0.20%/yr for SPDM.L.
Performance
WCOG.L vs. SPDM.L - Performance Comparison
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Returns By Period
In the year-to-date period, WCOG.L achieves a 31.19% return, which is significantly higher than SPDM.L's -15.50% return. Over the past 10 years, WCOG.L has underperformed SPDM.L with an annualized return of 8.85%, while SPDM.L has yielded a comparatively higher 9.87% annualized return.
WCOG.L
- 1D
- -1.18%
- 1M
- -1.93%
- YTD
- 31.19%
- 6M
- 31.55%
- 1Y
- 45.33%
- 3Y*
- 13.10%
- 5Y*
- 12.72%
- 10Y*
- 8.85%
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%
WCOG.L vs. SPDM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCOG.L WisdomTree Enhanced Commodity UCITS ETF USD | 31.19% | 7.94% | 4.45% | -12.14% | 26.35% | 28.38% | -2.08% | 3.07% | -3.67% | -4.31% |
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 WCOG.L and SPDM.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
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
WCOG.L vs. SPDM.L — Risk / Return Rank
WCOG.L
SPDM.L
WCOG.L vs. SPDM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.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.
| WCOG.L | SPDM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.16 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 6.62 | 0.91 | +5.71 |
| Martin ratioReturn relative to average drawdown | 16.47 | 1.98 | +14.48 |
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
| WCOG.L | SPDM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 0.74 | +1.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | -0.31 | +1.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.26 | +0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.14 | +0.51 |
Drawdowns
WCOG.L vs. SPDM.L - Drawdown Comparison
The maximum WCOG.L drawdown since its inception was -27.05%, smaller than the maximum SPDM.L drawdown of -70.87%. Use the drawdown chart below to compare losses from any high point for WCOG.L and SPDM.L.
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Drawdown Indicators
| WCOG.L | SPDM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.05% | -70.87% | +43.82% |
Max Drawdown (1Y)Largest decline over 1 year | -6.82% | -36.26% | +29.44% |
Max Drawdown (3Y)Largest decline over 3 years | -13.63% | -40.59% | +26.96% |
Max Drawdown (5Y)Largest decline over 5 years | -27.05% | -70.87% | +43.82% |
Max Drawdown (10Y)Largest decline over 10 years | -27.05% | -70.87% | +43.82% |
Current DrawdownCurrent decline from peak | -3.73% | -57.32% | +53.59% |
Average DrawdownAverage peak-to-trough decline | -10.98% | -25.10% | +14.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 16.70% | -13.95% |
Volatility
WCOG.L vs. SPDM.L - Volatility Comparison
The current volatility for WisdomTree Enhanced Commodity UCITS ETF USD (WCOG.L) is 6.08%, while iShares Physical Palladium ETC (SPDM.L) has a volatility of 10.52%. This indicates that WCOG.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
| WCOG.L | SPDM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 10.52% | -4.44% |
Volatility (6M)Calculated over the trailing 6-month period | 15.70% | 37.20% | -21.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.93% | 44.75% | -26.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 41.86% | -26.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.02% | 37.58% | -23.56% |
WCOG.L vs. SPDM.L - Expense Ratio Comparison
WCOG.L has a 0.35% expense ratio, which is higher than SPDM.L's 0.20% expense ratio.
Dividends
WCOG.L vs. SPDM.L - Dividend Comparison
WCOG.L's dividend yield for the trailing twelve months is around 2.68%, while SPDM.L has not paid dividends to shareholders.
| 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 | 2.68% | 4.56% | 4.54% | 0.65% | 0.00% | 0.30% | 1.64% | 1.64% | 0.46% |
Frequently Asked Questions
WCOG.L and SPDM.L have a correlation of 0.22, 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.
WCOG.L tracks Optimised Roll Commodity, while SPDM.L tracks London Palladium PM Fix. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.35% for WCOG.L and 0.20% for SPDM.L.
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