PPLT vs. FRES.L

Last updated Jul 1, 2026

PPLT (abrdn Physical Platinum Shares ETF) is Precious Metals fund tracking the LBMA Platinum Price PM, while FRES.L (Fresnillo plc) is a stock. Over the past 10 years, PPLT returned 3.32%/yr vs 7.10%/yr for FRES.L. At a 0.45 correlation, their price movements are largely independent.

Performance

PPLT vs. FRES.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Platinum Shares ETF (PPLT) and Fresnillo plc (FRES.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PPLT is traded in USD, while FRES.L is traded in GBp. To make them comparable, the FRES.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PPLT achieves a -24.21% return, which is significantly lower than FRES.L's -17.27% return. Over the past 10 years, PPLT has underperformed FRES.L with an annualized return of 3.32%, while FRES.L has yielded a comparatively higher 7.10% annualized return.

PPLT

• 1D: -1.40%
• 1M: -19.03%
• YTD: -24.21%
• 6M: -28.86%
• 1Y: 15.00%
• 3Y*: 19.09%
• 5Y*: 6.84%
• 10Y*: 3.32%

FRES.L

• 1D: -1.52%
• 1M: -17.84%
• YTD: -17.27%
• 6M: -19.22%
• 1Y: 89.41%
• 3Y*: 72.83%
• 5Y*: 30.92%
• 10Y*: 7.10%

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

PPLT vs. FRES.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPLT abrdn Physical Platinum Shares ETF	-24.21%	124.48%	-8.90%	-8.18%	10.43%	-10.75%	10.78%	20.85%	-14.95%	2.38%
FRES.L Fresnillo plc	-17.27%	511.09%	4.36%	-29.44%	-7.20%	-19.52%	84.40%	-20.96%	-41.76%	30.31%

Correlation

The correlation between PPLT and FRES.L is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 8, 2010	0.45

The correlation between PPLT and FRES.L shifts across timeframes, from 0.45 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PPLT vs. FRES.L — Risk / Return Rank

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

PPLT

PPLT Risk / Return Rank: 14
PPLT Sharpe Ratio Rank: 13
PPLT Sortino Ratio Rank: 15
PPLT Omega Ratio Rank: 16
PPLT Calmar Ratio Rank: 13
PPLT Martin Ratio Rank: 12

FRES.L

FRES.L Risk / Return Rank: 82
FRES.L Sharpe Ratio Rank: 87
FRES.L Sortino Ratio Rank: 82
FRES.L Omega Ratio Rank: 80
FRES.L Calmar Ratio Rank: 82
FRES.L Martin Ratio Rank: 81

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. FRES.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Platinum Shares ETF (PPLT) and Fresnillo plc (FRES.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.

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	FRES.L	Difference
Sharpe ratio: Return per unit of total volatility	0.30	1.54	-1.24
Sortino ratio: Return per unit of downside risk	0.72	2.13	-1.41
Omega ratio: Gain probability vs. loss probability	1.10	1.26	-0.16
Calmar ratio: Return relative to maximum drawdown	0.34	2.28	-1.94
Martin ratio: Return relative to average drawdown	0.78	5.31	-4.54

PPLT vs. FRES.L - Sharpe Ratio Comparison

The current PPLT Sharpe Ratio is 0.30, which is lower than the FRES.L Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of PPLT and FRES.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PPLT vs. FRES.L - Drawdown Comparison

The maximum PPLT drawdown since its inception was -70.73%, smaller than the maximum FRES.L drawdown of -86.88%. Use the drawdown chart below to compare losses from any high point for PPLT and FRES.L.

Drawdown Indicators

	PPLT	FRES.L	Difference
Max Drawdown Largest peak-to-trough decline	-70.73%	-86.88%	+16.15%
Max Drawdown (1Y) Largest decline over 1 year	-43.98%	-38.99%	-4.99%
Max Drawdown (3Y) Largest decline over 3 years	-43.98%	-38.99%	-4.99%
Max Drawdown (5Y) Largest decline over 5 years	-43.98%	-55.86%	+11.88%
Max Drawdown (10Y) Largest decline over 10 years	-51.14%	-75.05%	+23.91%
Current Drawdown Current decline from peak	-43.98%	-38.99%	-4.99%
Average Drawdown Average peak-to-trough decline	-39.94%	-48.28%	+8.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	16.77%	+2.53%

Volatility

PPLT vs. FRES.L - Volatility Comparison

The current volatility for abrdn Physical Platinum Shares ETF (PPLT) is 12.58%, while Fresnillo plc (FRES.L) has a volatility of 17.06%. This indicates that PPLT experiences smaller price fluctuations and is considered to be less risky than FRES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPLT	FRES.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.58%	17.06%	-4.48%
Volatility (6M) Calculated over the trailing 6-month period	43.67%	45.57%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	50.52%	57.89%	-7.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.78%	45.68%	-12.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.21%	45.39%	-16.18%

Dividends

PPLT vs. FRES.L - Dividend Comparison

PPLT has not paid dividends to shareholders, while FRES.L's dividend yield for the trailing twelve months is around 3.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRES.L Fresnillo plc	3.47%	2.00%	1.36%	1.98%	2.44%	2.66%	1.00%	2.35%	3.49%	1.73%
PPLT abrdn Physical Platinum Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PPLT and FRES.L in my portfolio?

PPLT and FRES.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.