WXAG.L vs. SPDM.L
WXAG.L (WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc) and SPDM.L (iShares Physical Palladium ETC) are both Commodities funds - WXAG.L tracks the Morgan Stanley RADAR ex Agriculture & Livestock Commodity while SPDM.L tracks the London Palladium PM Fix. Both are passively managed. Over the past 3 years, WXAG.L returned 21.39%/yr vs -1.31%/yr for SPDM.L. A 0.54 correlation means they provide meaningful diversification when combined. WXAG.L charges 0.60%/yr vs 0.20%/yr for SPDM.L.
Performance
WXAG.L vs. SPDM.L - Performance Comparison
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Different Trading Currencies
WXAG.L is traded in USD, while SPDM.L is traded in GBp. To make them comparable, the SPDM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, WXAG.L achieves a 29.61% return, which is significantly higher than SPDM.L's -13.20% return.
WXAG.L
- 1D
- -0.44%
- 1M
- -1.78%
- YTD
- 29.61%
- 6M
- 35.87%
- 1Y
- 64.34%
- 3Y*
- 21.39%
- 5Y*
- —
- 10Y*
- —
SPDM.L
- 1D
- 0.61%
- 1M
- -9.99%
- YTD
- -13.20%
- 6M
- -7.01%
- 1Y
- 36.23%
- 3Y*
- -1.31%
- 5Y*
- -13.43%
- 10Y*
- 9.34%
WXAG.L vs. SPDM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WXAG.L WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc | 29.61% | 32.53% | 2.91% | -8.03% | 19.40% | -6.94% |
SPDM.L iShares Physical Palladium ETC | -13.20% | 74.44% | -19.00% | -38.04% | -5.71% | -5.89% |
Correlation
The correlation between WXAG.L and SPDM.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2021 | 0.54 |
The correlation between WXAG.L and SPDM.L has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.
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Return for Risk
WXAG.L vs. SPDM.L — Risk / Return Rank
WXAG.L
SPDM.L
WXAG.L vs. SPDM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc (WXAG.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.
| WXAG.L | SPDM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.17 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 5.34 | 1.04 | +4.30 |
| Martin ratioReturn relative to average drawdown | 19.47 | 2.21 | +17.25 |
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
| WXAG.L | SPDM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.93 | 0.84 | +2.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.31 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.24 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.10 | +0.60 |
Drawdowns
WXAG.L vs. SPDM.L - Drawdown Comparison
The maximum WXAG.L drawdown since its inception was -26.77%, smaller than the maximum SPDM.L drawdown of -72.00%. Use the drawdown chart below to compare losses from any high point for WXAG.L and SPDM.L.
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Drawdown Indicators
| WXAG.L | SPDM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.77% | -72.00% | +45.23% |
Max Drawdown (1Y)Largest decline over 1 year | -12.00% | -36.88% | +24.88% |
Max Drawdown (3Y)Largest decline over 3 years | -14.35% | -39.90% | +25.55% |
Max Drawdown (5Y)Largest decline over 5 years | — | -72.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -72.00% | — |
Current DrawdownCurrent decline from peak | -5.35% | -55.23% | +49.88% |
Average DrawdownAverage peak-to-trough decline | -16.08% | -27.59% | +11.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 17.35% | -14.05% |
Volatility
WXAG.L vs. SPDM.L - Volatility Comparison
The current volatility for WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF USD Acc (WXAG.L) is 5.08%, while iShares Physical Palladium ETC (SPDM.L) has a volatility of 11.60%. This indicates that WXAG.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
| WXAG.L | SPDM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 11.60% | -6.52% |
Volatility (6M)Calculated over the trailing 6-month period | 19.23% | 38.37% | -19.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.89% | 45.50% | -23.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 43.28% | -20.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.55% | 38.70% | -16.15% |
WXAG.L vs. SPDM.L - Expense Ratio Comparison
WXAG.L has a 0.60% expense ratio, which is higher than SPDM.L's 0.20% expense ratio.
Dividends
WXAG.L vs. SPDM.L - Dividend Comparison
Neither WXAG.L nor SPDM.L has paid dividends to shareholders.
Frequently Asked Questions
WXAG.L and SPDM.L have a correlation of 0.57, 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 0.60% for WXAG.L.
WXAG.L tracks Morgan Stanley RADAR ex Agriculture & Livestock Commodity, while SPDM.L tracks London Palladium PM Fix. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.60% for WXAG.L and 0.20% for SPDM.L.
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