PPLT vs. PL=F

Last updated Jun 3, 2026

PPLT (Aberdeen Standard Physical Platinum Shares ETF) is Precious Metals fund tracking the Platinum London PM Fix ($/ozt), while PL=F (Platinum) is an asset. Over the past 10 years, PPLT returned 6.37%/yr vs 7.04%/yr for PL=F. Their correlation of 0.91 suggests significant overlap in exposure.

Performance

PPLT vs. PL=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aberdeen Standard Physical Platinum Shares ETF (PPLT) and Platinum (PL=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPLT achieves a -5.97% return, which is significantly lower than PL=F's -4.73% return. Over the past 10 years, PPLT has underperformed PL=F with an annualized return of 6.37%, while PL=F has yielded a comparatively higher 7.04% annualized return.

PPLT

• 1D: 0.46%
• 1M: -2.62%
• YTD: -5.97%
• 6M: 17.10%
• 1Y: 79.78%
• 3Y*: 23.67%
• 5Y*: 10.01%
• 10Y*: 6.37%

PL=F

• 1D: 0.51%
• 1M: -2.92%
• YTD: -4.73%
• 6M: 17.90%
• 1Y: 82.80%
• 3Y*: 24.54%
• 5Y*: 10.76%
• 10Y*: 7.04%

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

PPLT vs. PL=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPLT Aberdeen Standard Physical Platinum Shares ETF	-5.97%	124.48%	-8.90%	-8.18%	10.43%	-10.75%	10.78%	20.85%	-14.95%	2.38%
PL=F Platinum	-4.73%	123.45%	-9.78%	-6.81%	12.08%	-10.47%	10.37%	22.13%	-14.68%	3.60%

Correlation

The correlation between PPLT and PL=F is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 11, 2010	0.91

The correlation between PPLT and PL=F has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

PPLT vs. PL=F — Risk / Return Rank

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

PPLT

PPLT Risk / Return Rank: 41
PPLT Sharpe Ratio Rank: 45
PPLT Sortino Ratio Rank: 37
PPLT Omega Ratio Rank: 43
PPLT Calmar Ratio Rank: 47
PPLT Martin Ratio Rank: 33

PL=F

PL=F Risk / Return Rank: 48
PL=F Sharpe Ratio Rank: 63
PL=F Sortino Ratio Rank: 62
PL=F Omega Ratio Rank: 59
PL=F Calmar Ratio Rank: 30
PL=F Martin Ratio Rank: 26

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. PL=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aberdeen Standard Physical Platinum Shares ETF (PPLT) and Platinum (PL=F). 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.

	PPLT	PL=F	Difference
Sharpe ratio Return per unit of total volatility	1.59	1.47	+0.12
Sortino ratio Return per unit of downside risk	1.94	1.83	+0.11
Omega ratio Gain probability vs. loss probability	1.28	1.28	+0.01
Calmar ratio Return relative to maximum drawdown	2.36	1.47	+0.89
Martin ratio Return relative to average drawdown	5.04	2.95	+2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPLT vs. PL=F - Sharpe Ratio Comparison

The current PPLT Sharpe Ratio is 1.59, which is comparable to the PL=F Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of PPLT and PL=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PPLT	PL=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.47	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.30	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.22	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.11	-0.08

Drawdowns

PPLT vs. PL=F - Drawdown Comparison

The maximum PPLT drawdown since its inception was -70.73%, roughly equal to the maximum PL=F drawdown of -68.68%. Use the drawdown chart below to compare losses from any high point for PPLT and PL=F.

Drawdown Indicators

	PPLT	PL=F	Difference
Max Drawdown Largest peak-to-trough decline	-70.73%	-68.68%	-2.05%
Max Drawdown (1Y) Largest decline over 1 year	-34.41%	-35.55%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	-34.41%	-35.55%	+1.14%
Max Drawdown (5Y) Largest decline over 5 years	-34.41%	-35.55%	+1.14%
Max Drawdown (10Y) Largest decline over 10 years	-51.14%	-49.56%	-1.58%
Current Drawdown Current decline from peak	-30.51%	-32.05%	+1.54%
Average Drawdown Average peak-to-trough decline	-39.95%	-36.40%	-3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.10%	17.73%	-1.63%

Volatility

PPLT vs. PL=F - Volatility Comparison

Aberdeen Standard Physical Platinum Shares ETF (PPLT) and Platinum (PL=F) have volatilities of 10.78% and 10.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPLT	PL=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.78%	10.70%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	44.52%	48.80%	-4.28%
Volatility (1Y) Calculated over the trailing 1-year period	50.57%	54.01%	-3.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.46%	35.60%	-3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.98%	31.74%	-2.76%

Frequently Asked Questions

Can I hold both PPLT and PL=F in my portfolio?

PPLT and PL=F have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPLT or PL=F?

PPLT has higher volatility (10.78%) compared to PL=F (10.70%). In terms of maximum drawdown, PPLT dropped -70.73% vs PL=F's -68.68%.

Which has better risk-adjusted returns?

PPLT currently has the higher Sharpe Ratio (1.59 vs 1.47), 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.