PPLT vs. SBT.TO

Last updated Jul 1, 2026

PPLT (abrdn Physical Platinum Shares ETF) and SBT.TO (Purpose Silver Bullion Fund) are both exchange-traded funds - PPLT is a Precious Metals fund tracking the LBMA Platinum Price PM, while SBT.TO is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, PPLT returned 3.32%/yr vs 10.22%/yr for SBT.TO. At a 0.27 correlation, their price movements are largely independent. PPLT charges 0.60%/yr vs 0.36%/yr for SBT.TO.

Performance

PPLT vs. SBT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Platinum Shares ETF (PPLT) and Purpose Silver Bullion Fund (SBT.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PPLT is traded in USD, while SBT.TO is traded in CAD. To make them comparable, the SBT.TO 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 SBT.TO's -21.60% return. Over the past 10 years, PPLT has underperformed SBT.TO with an annualized return of 3.32%, while SBT.TO has yielded a comparatively higher 10.22% 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%

SBT.TO

• 1D: 2.00%
• 1M: -24.94%
• YTD: -21.60%
• 6M: -26.77%
• 1Y: 51.35%
• 3Y*: 31.34%
• 5Y*: 12.23%
• 10Y*: 10.22%

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

PPLT vs. SBT.TO - 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%
SBT.TO Purpose Silver Bullion Fund	-21.60%	148.41%	9.30%	1.56%	-4.09%	-13.14%	51.61%	18.18%	-19.58%	-11.05%

Correlation

The correlation between PPLT and SBT.TO is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since May 27, 2016	0.27

Over the past year, PPLT and SBT.TO have become more correlated (0.66) than their long-term average of 0.27, meaning their price movements have been converging.

Return for Risk

PPLT vs. SBT.TO — 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

SBT.TO

SBT.TO Risk / Return Rank: 28
SBT.TO Sharpe Ratio Rank: 28
SBT.TO Sortino Ratio Rank: 27
SBT.TO Omega Ratio Rank: 36
SBT.TO Calmar Ratio Rank: 25
SBT.TO Martin Ratio Rank: 22

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. SBT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Platinum Shares ETF (PPLT) and Purpose Silver Bullion Fund (SBT.TO). 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	SBT.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.30	0.83	-0.54
Sortino ratio: Return per unit of downside risk	0.72	1.30	-0.59
Omega ratio: Gain probability vs. loss probability	1.10	1.20	-0.11
Calmar ratio: Return relative to maximum drawdown	0.34	0.94	-0.60
Martin ratio: Return relative to average drawdown	0.78	2.13	-1.35

PPLT vs. SBT.TO - Sharpe Ratio Comparison

The current PPLT Sharpe Ratio is 0.30, which is lower than the SBT.TO Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of PPLT and SBT.TO, 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. SBT.TO - Drawdown Comparison

The maximum PPLT drawdown since its inception was -70.73%, which is greater than SBT.TO's maximum drawdown of -54.64%. Use the drawdown chart below to compare losses from any high point for PPLT and SBT.TO.

Drawdown Indicators

	PPLT	SBT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-70.73%	-54.64%	-16.09%
Max Drawdown (1Y) Largest decline over 1 year	-43.98%	-54.64%	+10.66%
Max Drawdown (3Y) Largest decline over 3 years	-43.98%	-54.64%	+10.66%
Max Drawdown (5Y) Largest decline over 5 years	-43.98%	-54.64%	+10.66%
Max Drawdown (10Y) Largest decline over 10 years	-51.14%	-54.64%	+3.50%
Current Drawdown Current decline from peak	-43.98%	-52.60%	+8.62%
Average Drawdown Average peak-to-trough decline	-39.94%	-18.57%	-21.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	24.14%	-4.84%

Volatility

PPLT vs. SBT.TO - Volatility Comparison

The current volatility for abrdn Physical Platinum Shares ETF (PPLT) is 12.58%, while Purpose Silver Bullion Fund (SBT.TO) has a volatility of 17.05%. This indicates that PPLT experiences smaller price fluctuations and is considered to be less risky than SBT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPLT	SBT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.58%	17.05%	-4.47%
Volatility (6M) Calculated over the trailing 6-month period	43.67%	59.85%	-16.18%
Volatility (1Y) Calculated over the trailing 1-year period	50.52%	61.81%	-11.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.78%	39.19%	-6.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.21%	68.11%	-38.90%

PPLT vs. SBT.TO - Expense Ratio Comparison

PPLT has a 0.60% expense ratio, which is higher than SBT.TO's 0.36% expense ratio.

Dividends

PPLT vs. SBT.TO - Dividend Comparison

Neither PPLT nor SBT.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PPLT and SBT.TO in my portfolio?

PPLT and SBT.TO have a correlation of 0.66, 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 SBT.TO?

On fees, SBT.TO is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPLT or SBT.TO?

SBT.TO is cheaper with a 0.36% expense ratio, compared with 0.60% for PPLT.

What is the main difference between PPLT and SBT.TO?

PPLT is categorized as Precious Metals, while SBT.TO is Silver. PPLT tracks LBMA Platinum Price PM, while SBT.TO tracks LBMA Silver Price. They also come from different issuers: abrdn and Purpose Investments. Their fees differ too: 0.60% for PPLT and 0.36% for SBT.TO.