PVL vs. SPOT

Last updated Aug 1, 2026

PVL (Permianville Royalty Trust) and SPOT (Spotify Technology S.A.) are both stocks. PVL operates in Oil & Gas E&P (Energy), while SPOT operates in Internet Content & Information (Communication Services). Over the past 5 years, PVL returned 10.26%/yr vs 16.93%/yr for SPOT. Their 0.06 correlation means their historical movements had little consistent relationship.

Performance

PVL vs. SPOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permianville Royalty Trust (PVL) and Spotify Technology S.A. (SPOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVL achieves a 0.87% return, which is significantly higher than SPOT's -13.91% return.

PVL

• 1D: 4.53%
• 1M: 5.80%
• 6M: -1.06%
• YTD: 0.87%
• 1Y: 7.76%
• 3Y*: -9.45%
• 5Y*: 10.26%
• 10Y*: 3.00%
• ALL TIME*: -7.53%

SPOT

• 1D: -4.34%
• 1M: 2.87%
• 6M: -0.08%
• YTD: -13.91%
• 1Y: -20.28%
• 3Y*: 49.10%
• 5Y*: 16.93%
• 10Y*: —
• ALL TIME*: 14.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PVL Permianville Royalty Trust	$76.40K	$87.82K	$139.05K
SPOT Spotify Technology S.A.	$931.26M	$810.43M	$959.57M

PVL vs. SPOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PVL Permianville Royalty Trust	0.87%	42.17%	-0.62%	-50.32%	81.37%	205.27%	-56.49%	10.22%	-39.83%
SPOT Spotify Technology S.A.	-13.91%	29.80%	138.08%	138.01%	-66.27%	-25.62%	110.40%	31.76%	-31.59%

Correlation

The correlation between PVL and SPOT is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.01
Correlation (3Y) Balances recent behavior with more history.	0.02
Correlation (5Y) Shows whether the relationship held over a longer period.	0.04
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018	0.06

Fundamentals

Market Cap PVL : $57.09M SPOT : $102.80B
EPS PVL : $0.16 SPOT : €12.84
PE Ratio PVL : 10.82 SPOT : 33.81
PEG Ratio PVL : 0.15 SPOT : 0.38
PS Ratio PVL : 8.11 SPOT : 5.22
Total Revenue (TTM) PVL : $4.69M SPOT : €17.60B
Gross Profit (TTM) PVL : $4.28M SPOT : €5.68B
EBITDA (TTM) PVL : $3.49M SPOT : €2.75B

Return for Risk

PVL vs. SPOT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PVL

PVL Risk / Return Rank: 53
PVL Sharpe Ratio Rank: 54
PVL Sortino Ratio Rank: 49
PVL Omega Ratio Rank: 48
PVL Calmar Ratio Rank: 56
PVL Martin Ratio Rank: 57

SPOT

SPOT Risk / Return Rank: 25
SPOT Sharpe Ratio Rank: 23
SPOT Sortino Ratio Rank: 23
SPOT Omega Ratio Rank: 23
SPOT Calmar Ratio Rank: 28
SPOT Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PVL vs. SPOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permianville Royalty Trust (PVL) and Spotify Technology S.A. (SPOT). 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.

	PVL	SPOT	Difference
Sharpe ratio: Return per unit of total volatility	0.25	-0.47	+0.71
Sortino ratio: Return per unit of downside risk	0.62	-0.44	+1.06
Omega ratio: Gain probability vs. loss probability	1.08	0.95	+0.13
Calmar ratio: Return relative to maximum drawdown	0.45	-0.46	+0.91
Martin ratio: Return relative to average drawdown	1.03	-0.74	+1.78

PVL vs. SPOT - Sharpe Ratio Comparison

The current PVL Sharpe Ratio is 0.25, which is higher than the SPOT Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of PVL and SPOT, 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

PVL vs. SPOT - Drawdown Comparison

The maximum PVL drawdown since its inception was -95.05%, which is greater than SPOT's maximum drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for PVL and SPOT.

Drawdown Indicators

	PVL	SPOT	Difference
Max Drawdown Largest peak-to-trough decline	-95.05%	-80.51%	-14.54%
Max Drawdown (1Y) Largest decline over 1 year	-17.37%	-44.11%	+26.74%
Max Drawdown (3Y) Largest decline over 3 years	-63.12%	-46.80%	-16.32%
Max Drawdown (5Y) Largest decline over 5 years	-77.24%	-76.39%	-0.85%
Max Drawdown (10Y) Largest decline over 10 years	-85.54%	—	—
Current Drawdown Current decline from peak	-69.79%	-35.57%	-34.22%
Average Drawdown Average peak-to-trough decline	-63.68%	-30.98%	-32.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.53%	27.21%	-19.68%

Volatility

PVL vs. SPOT - Volatility Comparison

The current volatility for Permianville Royalty Trust (PVL) is 8.19%, while Spotify Technology S.A. (SPOT) has a volatility of 10.13%. This indicates that PVL experiences smaller price fluctuations and is considered to be less risky than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVL	SPOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.19%	10.13%	-1.94%
Volatility (6M) Calculated over the trailing 6-month period	22.31%	38.00%	-15.69%
Volatility (1Y) Calculated over the trailing 1-year period	31.48%	43.58%	-12.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.23%	47.62%	+2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.60%	47.19%	+8.41%

Dividends

PVL vs. SPOT - Dividend Comparison

PVL's dividend yield for the trailing twelve months is around 11.97%, while SPOT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PVL Permianville Royalty Trust	11.97%	7.20%	6.29%	25.67%	13.18%	5.66%	18.35%	16.57%	22.27%	6.61%	6.63%	15.66%
SPOT Spotify Technology S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both PVL and SPOT in my portfolio?

PVL and SPOT have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PVL or SPOT?

SPOT has higher volatility (10.13%) compared to PVL (8.19%). In terms of maximum drawdown, PVL dropped -95.05% vs SPOT's -80.51%.

Which has better risk-adjusted returns?

PVL currently has the higher Sharpe Ratio (0.25 vs -0.47), 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.