PPLT vs. AMUN

Last updated Jul 15, 2026

PPLT (abrdn Physical Platinum Shares ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both exchange-traded funds - PPLT is a Precious Metals fund tracking the LBMA Platinum Price PM, while AMUN is a Municipal Bonds fund actively managed by abrdn. PPLT is passively managed, while AMUN is actively managed. At a correlation of -0.02, they often move in opposite directions. PPLT charges 0.60%/yr vs 0.25%/yr for AMUN.

Performance

PPLT vs. AMUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Platinum Shares ETF (PPLT) and abrdn Ultra Short Municipal Income Active ETF (AMUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPLT achieves a -20.72% return, which is significantly lower than AMUN's 1.42% return.

PPLT

• 1D: 1.79%
• 1M: -4.89%
• 6M: -30.17%
• YTD: -20.72%
• 1Y: 18.93%
• 3Y*: 18.08%
• 5Y*: 6.79%
• 10Y*: 3.53%

AMUN

• 1D: 0.04%
• 1M: 0.25%
• 6M: 1.29%
• YTD: 1.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PPLT vs. AMUN - Yearly Performance Comparison

	2026 (YTD)	2025
PPLT abrdn Physical Platinum Shares ETF	-20.72%	27.51%
AMUN abrdn Ultra Short Municipal Income Active ETF	1.42%	0.14%

Correlation

The correlation between PPLT and AMUN is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 20, 2025	-0.02

Return for Risk

PPLT vs. AMUN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PPLT

PPLT Risk / Return Rank: 17
PPLT Sharpe Ratio Rank: 16
PPLT Sortino Ratio Rank: 18
PPLT Omega Ratio Rank: 19
PPLT Calmar Ratio Rank: 15
PPLT Martin Ratio Rank: 14

AMUN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PPLT vs. AMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Platinum Shares ETF (PPLT) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PPLT	AMUN	Difference
Sharpe ratio: Return per unit of total volatility	0.38	—	—
Sortino ratio: Return per unit of downside risk	0.80	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.43	—	—
Martin ratio: Return relative to average drawdown	0.91	—	—

Drawdowns

PPLT vs. AMUN - Drawdown Comparison

The maximum PPLT drawdown since its inception was -70.73%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for PPLT and AMUN.

Drawdown Indicators

	PPLT	AMUN	Difference
Max Drawdown Largest peak-to-trough decline	-70.73%	-0.61%	-70.12%
Max Drawdown (1Y) Largest decline over 1 year	-43.98%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-43.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.14%	—	—
Current Drawdown Current decline from peak	-41.41%	0.00%	-41.41%
Average Drawdown Average peak-to-trough decline	-39.94%	-0.08%	-39.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.86%	—	—

Volatility

Volatility by Period

	PPLT	AMUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	39.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	50.22%	0.95%	+49.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.81%	0.95%	+31.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.25%	0.95%	+28.30%

PPLT vs. AMUN - Expense Ratio Comparison

PPLT has a 0.60% expense ratio, which is higher than AMUN's 0.25% expense ratio.

Dividends

PPLT vs. AMUN - Dividend Comparison

PPLT has not paid dividends to shareholders, while AMUN's dividend yield for the trailing twelve months is around 2.13%.

Position	TTM	2025
AMUN abrdn Ultra Short Municipal Income Active ETF	2.13%	0.66%
PPLT abrdn Physical Platinum Shares ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both PPLT and AMUN in my portfolio?

PPLT and AMUN have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PPLT or AMUN?

On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPLT or AMUN?

AMUN is cheaper with a 0.25% expense ratio, compared with 0.60% for PPLT.

Which ETF pays a higher dividend yield, PPLT or AMUN?

AMUN has the higher dividend yield at 2.13%, compared with 0.00% for PPLT.

What is the main difference between PPLT and AMUN?

PPLT is categorized as Precious Metals, while AMUN is Municipal Bonds. Their fees differ too: 0.60% for PPLT and 0.25% for AMUN.