PPLT vs. PLTM

Last updated Jun 23, 2026

PPLT (abrdn Physical Platinum Shares ETF) and PLTM (GraniteShares Platinum Trust) are both Precious Metals funds - PPLT tracks the LBMA Platinum Price PM while PLTM tracks the Platinum London PM Fix ($/ozt). Both are passively managed. Over the past 5 years, PPLT returned 8.39%/yr vs 8.59%/yr for PLTM. With a 0.97 correlation, they move nearly in lockstep. PPLT charges 0.60%/yr vs 0.50%/yr for PLTM.

Performance

PPLT vs. PLTM - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with PPLT having a -18.58% return and PLTM slightly higher at -18.40%.

PPLT

• 1D: -1.24%
• 1M: -13.11%
• YTD: -18.58%
• 6M: -20.84%
• 1Y: 31.58%
• 3Y*: 21.38%
• 5Y*: 8.39%
• 10Y*: 4.85%

PLTM

• 1D: -1.17%
• 1M: -12.83%
• YTD: -18.40%
• 6M: -20.69%
• 1Y: 31.86%
• 3Y*: 21.62%
• 5Y*: 8.59%
• 10Y*: —

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

PPLT vs. PLTM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PPLT abrdn Physical Platinum Shares ETF	-18.58%	124.48%	-8.90%	-8.18%	10.43%	-10.75%	10.78%	20.85%	-20.08%
PLTM GraniteShares Platinum Trust	-18.40%	124.46%	-8.91%	-8.10%	10.83%	-10.52%	10.87%	20.76%	-20.92%

Correlation

The correlation between PPLT and PLTM is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 5, 2018	0.97

The correlation between PPLT and PLTM has been stable across timeframes, ranging from 0.97 to 1.00 - a consistent structural relationship.

Return for Risk

PPLT vs. PLTM — Risk / Return Rank

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

PPLT

PPLT Risk / Return Rank: 19
PPLT Sharpe Ratio Rank: 19
PPLT Sortino Ratio Rank: 20
PPLT Omega Ratio Rank: 22
PPLT Calmar Ratio Rank: 18
PPLT Martin Ratio Rank: 17

PLTM

PLTM Risk / Return Rank: 19
PLTM Sharpe Ratio Rank: 19
PLTM Sortino Ratio Rank: 20
PLTM Omega Ratio Rank: 22
PLTM Calmar Ratio Rank: 18
PLTM Martin Ratio Rank: 17

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. PLTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Platinum Shares ETF (PPLT) and GraniteShares Platinum Trust (PLTM). 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	PLTM	Difference
Sharpe ratio: Return per unit of total volatility	0.63	0.62	0.00
Sortino ratio: Return per unit of downside risk	1.08	1.08	0.00
Omega ratio: Gain probability vs. loss probability	1.15	1.15	0.00
Calmar ratio: Return relative to maximum drawdown	0.79	0.80	-0.01
Martin ratio: Return relative to average drawdown	1.74	1.76	-0.01

PPLT vs. PLTM - Sharpe Ratio Comparison

The current PPLT Sharpe Ratio is 0.63, which is comparable to the PLTM Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of PPLT and PLTM, 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. PLTM - Drawdown Comparison

The maximum PPLT drawdown since its inception was -70.73%, which is greater than PLTM's maximum drawdown of -42.32%. Use the drawdown chart below to compare losses from any high point for PPLT and PLTM.

Drawdown Indicators

	PPLT	PLTM	Difference
Max Drawdown Largest peak-to-trough decline	-70.73%	-42.32%	-28.41%
Max Drawdown (1Y) Largest decline over 1 year	-40.02%	-40.06%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-40.02%	-40.06%	+0.04%
Max Drawdown (5Y) Largest decline over 5 years	-40.02%	-40.06%	+0.04%
Max Drawdown (10Y) Largest decline over 10 years	-51.14%	—	—
Current Drawdown Current decline from peak	-39.82%	-39.72%	-0.10%
Average Drawdown Average peak-to-trough decline	-39.93%	-18.65%	-21.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.16%	18.19%	-0.03%

Volatility

PPLT vs. PLTM - Volatility Comparison

abrdn Physical Platinum Shares ETF (PPLT) and GraniteShares Platinum Trust (PLTM) have volatilities of 11.51% and 11.58%, 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	PLTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.51%	11.58%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	45.30%	46.02%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	50.77%	51.43%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.68%	32.99%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.18%	31.10%	-1.92%

PPLT vs. PLTM - Expense Ratio Comparison

PPLT has a 0.60% expense ratio, which is higher than PLTM's 0.50% expense ratio.

Dividends

PPLT vs. PLTM - Dividend Comparison

Neither PPLT nor PLTM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PPLT and PLTM in my portfolio?

With a correlation of 1.00, PPLT and PLTM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PPLT or PLTM?

PLTM has higher volatility (11.58%) compared to PPLT (11.51%). In terms of maximum drawdown, PPLT dropped -70.73% vs PLTM's -42.32%.

Which ETF is better, PPLT or PLTM?

On 5-year performance, PLTM leads with 8.59% vs 8.39% for PPLT. On fees, PLTM is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPLT or PLTM?

Over the 5-year period, PLTM has performed better with a 8.59% return vs 8.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPLT or PLTM?

PLTM is cheaper with a 0.50% expense ratio, compared with 0.60% for PPLT.

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

PPLT and PLTM have nearly identical dividend yields, around 0.00%.

What is the main difference between PPLT and PLTM?

PPLT tracks LBMA Platinum Price PM, while PLTM tracks Platinum London PM Fix ($/ozt). They also come from different issuers: abrdn and GraniteShares. Their fees differ too: 0.60% for PPLT and 0.50% for PLTM.

Which has better risk-adjusted returns?

PPLT currently has the higher Sharpe Ratio (0.63 vs 0.62), 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.