SLX vs. PPLT
SLX (VanEck Vectors Steel ETF) and PPLT (abrdn Physical Platinum Shares ETF) are both exchange-traded funds - SLX is a Materials fund tracking the NYSE Arca Steel Index, while PPLT is a Precious Metals fund tracking the LBMA Platinum Price PM. Both are passively managed. Over the past 10 years, SLX returned 18.83%/yr vs 4.70%/yr for PPLT. At a 0.36 correlation, their price movements are largely independent. SLX charges 0.56%/yr vs 0.60%/yr for PPLT.
Performance
SLX vs. PPLT - Performance Comparison
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Returns By Period
In the year-to-date period, SLX achieves a 19.94% return, which is significantly higher than PPLT's -19.76% return. Over the past 10 years, SLX has outperformed PPLT with an annualized return of 18.83%, while PPLT has yielded a comparatively lower 4.70% annualized return.
SLX
- 1D
- -2.86%
- 1M
- -4.58%
- YTD
- 19.94%
- 6M
- 19.56%
- 1Y
- 60.79%
- 3Y*
- 21.27%
- 5Y*
- 14.70%
- 10Y*
- 18.83%
PPLT
- 1D
- -1.45%
- 1M
- -14.37%
- YTD
- -19.76%
- 6M
- -28.09%
- 1Y
- 27.10%
- 3Y*
- 20.79%
- 5Y*
- 7.90%
- 10Y*
- 4.70%
SLX vs. PPLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLX VanEck Vectors Steel ETF | 19.94% | 47.45% | -17.94% | 31.25% | 14.28% | 27.69% | 20.57% | 12.01% | -19.27% | 24.59% |
PPLT abrdn Physical Platinum Shares ETF | -19.76% | 124.48% | -8.90% | -8.18% | 10.43% | -10.75% | 10.78% | 20.85% | -14.95% | 2.38% |
Correlation
The correlation between SLX and PPLT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2010 | 0.36 |
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Return for Risk
SLX vs. PPLT — Risk / Return Rank
SLX
PPLT
SLX vs. PPLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Steel ETF (SLX) and abrdn Physical Platinum Shares ETF (PPLT). 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.
| SLX | PPLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.14 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 0.67 | +3.07 |
| Martin ratioReturn relative to average drawdown | 12.59 | 1.48 | +11.11 |
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Drawdowns
SLX vs. PPLT - Drawdown Comparison
The maximum SLX drawdown since its inception was -82.14%, which is greater than PPLT's maximum drawdown of -70.73%. Use the drawdown chart below to compare losses from any high point for SLX and PPLT.
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Drawdown Indicators
| SLX | PPLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.14% | -70.73% | -11.41% |
Max Drawdown (1Y)Largest decline over 1 year | -16.35% | -40.69% | +24.34% |
Max Drawdown (3Y)Largest decline over 3 years | -27.39% | -40.69% | +13.30% |
Max Drawdown (5Y)Largest decline over 5 years | -33.62% | -40.69% | +7.07% |
Max Drawdown (10Y)Largest decline over 10 years | -61.64% | -51.14% | -10.50% |
Current DrawdownCurrent decline from peak | -10.38% | -40.69% | +30.31% |
Average DrawdownAverage peak-to-trough decline | -38.63% | -39.93% | +1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 18.34% | -13.50% |
Volatility
SLX vs. PPLT - Volatility Comparison
The current volatility for VanEck Vectors Steel ETF (SLX) is 9.40%, while abrdn Physical Platinum Shares ETF (PPLT) has a volatility of 11.41%. This indicates that SLX experiences smaller price fluctuations and is considered to be less risky than PPLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLX | PPLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.40% | 11.41% | -2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 19.29% | 45.28% | -25.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.19% | 50.70% | -25.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.84% | 32.68% | -4.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.90% | 29.18% | +1.72% |
SLX vs. PPLT - Expense Ratio Comparison
SLX has a 0.56% expense ratio, which is lower than PPLT's 0.60% expense ratio.
Dividends
SLX vs. PPLT - Dividend Comparison
SLX's dividend yield for the trailing twelve months is around 1.29%, while PPLT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
SLX VanEck Vectors Steel ETF | 1.29% | 1.55% | 3.56% | 2.80% | 4.97% | 7.07% | 1.87% | 3.44% | 6.26% | 2.50% | 1.06% | 5.35% |
Frequently Asked Questions
SLX and PPLT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPLT has higher volatility (11.41%) compared to SLX (9.40%). In terms of maximum drawdown, SLX dropped -82.14% vs PPLT's -70.73%.
On 10-year performance, SLX leads with 18.83% vs 4.70% for PPLT. On fees, SLX is cheaper at 0.56% per year. On volatility, SLX has been the lower-risk option at 9.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLX has performed better with a 18.83% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLX is cheaper with a 0.56% expense ratio, compared with 0.60% for PPLT.
SLX has the higher dividend yield at 1.29%, compared with 0.00% for PPLT.
SLX is categorized as Materials, while PPLT is Precious Metals. SLX tracks NYSE Arca Steel Index, while PPLT tracks LBMA Platinum Price PM. They also come from different issuers: VanEck and abrdn. Their fees differ too: 0.56% for SLX and 0.60% for PPLT.
SLX currently has the higher Sharpe Ratio (2.43 vs 0.54), 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.
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