PPLT vs. DGZ
PPLT (abrdn Physical Platinum Shares ETF) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - PPLT is a Precious Metals fund tracking the LBMA Platinum Price PM, while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Both are passively managed. Over the past 10 years, PPLT returned 4.70%/yr vs -7.12%/yr for DGZ. At a correlation of -0.49, they often move in opposite directions. PPLT charges 0.60%/yr vs 0.75%/yr for DGZ.
Performance
PPLT vs. DGZ - Performance Comparison
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Returns By Period
In the year-to-date period, PPLT achieves a -19.76% return, which is significantly lower than DGZ's 13.79% return. Over the past 10 years, PPLT has outperformed DGZ with an annualized return of 4.70%, while DGZ has yielded a comparatively lower -7.12% annualized return.
PPLT
- 1D
- -1.45%
- 1M
- -14.37%
- YTD
- -19.76%
- 6M
- -28.09%
- 1Y
- 27.10%
- 3Y*
- 20.79%
- 5Y*
- 7.90%
- 10Y*
- 4.70%
DGZ
- 1D
- 4.60%
- 1M
- 27.91%
- YTD
- 13.79%
- 6M
- 21.33%
- 1Y
- -7.69%
- 3Y*
- -14.24%
- 5Y*
- -9.28%
- 10Y*
- -7.12%
PPLT vs. DGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPLT abrdn Physical Platinum Shares ETF | -19.76% | 124.48% | -8.90% | -8.18% | 10.43% | -10.75% | 10.78% | 20.85% | -14.95% | 2.38% |
DGZ DB Gold Short Exchange Traded Notes | 13.79% | -32.55% | -16.46% | -4.75% | 4.93% | 1.53% | -20.80% | -13.42% | 4.88% | -11.36% |
Correlation
The correlation between PPLT and DGZ is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2010 | -0.49 |
Over the past year, the inverse relationship between PPLT and DGZ has weakened: their correlation has moved from -0.49 to -0.28, meaning they move in opposite directions less often than they have historically.
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Return for Risk
PPLT vs. DGZ — Risk / Return Rank
PPLT
DGZ
PPLT vs. DGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Platinum Shares ETF (PPLT) and DB Gold Short Exchange Traded Notes (DGZ). 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 | DGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.05 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | -0.20 | +0.87 |
| Martin ratioReturn relative to average drawdown | 1.48 | -0.35 | +1.83 |
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Drawdowns
PPLT vs. DGZ - Drawdown Comparison
The maximum PPLT drawdown since its inception was -70.73%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for PPLT and DGZ.
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Drawdown Indicators
| PPLT | DGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.73% | -86.32% | +15.59% |
Max Drawdown (1Y)Largest decline over 1 year | -40.69% | -38.32% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -40.69% | -59.54% | +18.85% |
Max Drawdown (5Y)Largest decline over 5 years | -40.69% | -61.54% | +20.85% |
Max Drawdown (10Y)Largest decline over 10 years | -51.14% | -71.49% | +20.35% |
Current DrawdownCurrent decline from peak | -40.69% | -80.51% | +39.82% |
Average DrawdownAverage peak-to-trough decline | -39.93% | -57.80% | +17.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.34% | 22.24% | -3.90% |
Volatility
PPLT vs. DGZ - Volatility Comparison
The current volatility for abrdn Physical Platinum Shares ETF (PPLT) is 11.41%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 45.91%. This indicates that PPLT experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPLT | DGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.41% | 45.91% | -34.50% |
Volatility (6M)Calculated over the trailing 6-month period | 45.28% | 58.66% | -13.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.70% | 69.62% | -18.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.68% | 36.50% | -3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.18% | 28.17% | +1.01% |
PPLT vs. DGZ - Expense Ratio Comparison
PPLT has a 0.60% expense ratio, which is lower than DGZ's 0.75% expense ratio.
Dividends
PPLT vs. DGZ - Dividend Comparison
Neither PPLT nor DGZ has paid dividends to shareholders.
Frequently Asked Questions
PPLT and DGZ have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGZ has higher volatility (45.91%) compared to PPLT (11.41%). In terms of maximum drawdown, PPLT dropped -70.73% vs DGZ's -86.32%.
On 10-year performance, PPLT leads with 4.70% vs -7.12% for DGZ. On fees, PPLT is cheaper at 0.60% per year. On volatility, PPLT has been the lower-risk option at 11.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PPLT has performed better with a 4.70% return vs -7.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PPLT is cheaper with a 0.60% expense ratio, compared with 0.75% for DGZ.
PPLT and DGZ have nearly identical dividend yields, around 0.00%.
PPLT is categorized as Precious Metals, while DGZ is Inverse Commodities. PPLT tracks LBMA Platinum Price PM, while DGZ tracks Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). They also come from different issuers: abrdn and Deutsche Bank. Their fees differ too: 0.60% for PPLT and 0.75% for DGZ.
PPLT currently has the higher Sharpe Ratio (0.54 vs -0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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