SPPP.L vs. AUCO.L
SPPP.L (Invesco Physical Platinum) and AUCO.L (L&G Gold Mining UCITS ETF) are both exchange-traded funds - SPPP.L is a Precious Metals fund tracking the Platinum, while AUCO.L is a Gold fund tracking the STOXX Global Gold Miners Index. Both are passively managed. Over the past 10 years, SPPP.L returned 7.15%/yr vs 16.42%/yr for AUCO.L. At a 0.31 correlation, their price movements are largely independent. SPPP.L charges 0.19%/yr vs 0.55%/yr for AUCO.L.
Performance
SPPP.L vs. AUCO.L - Performance Comparison
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Different Trading Currencies
SPPP.L is traded in GBp, while AUCO.L is traded in USD. To make them comparable, the AUCO.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPPP.L achieves a -5.12% return, which is significantly lower than AUCO.L's -0.29% return. Over the past 10 years, SPPP.L has underperformed AUCO.L with an annualized return of 7.15%, while AUCO.L has yielded a comparatively higher 16.42% annualized return.
SPPP.L
- 1D
- 0.34%
- 1M
- -3.04%
- YTD
- -5.12%
- 6M
- 13.96%
- 1Y
- 74.71%
- 3Y*
- 17.70%
- 5Y*
- 11.26%
- 10Y*
- 7.15%
AUCO.L
- 1D
- 0.76%
- 1M
- -0.63%
- YTD
- -0.29%
- 6M
- 4.49%
- 1Y
- 65.96%
- 3Y*
- 46.19%
- 5Y*
- 23.61%
- 10Y*
- 16.42%
SPPP.L vs. AUCO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPPP.L Invesco Physical Platinum | -5.12% | 104.81% | -8.43% | -10.70% | 22.05% | -6.96% | 4.80% | 17.40% | -9.50% | -7.13% |
AUCO.L L&G Gold Mining UCITS ETF | -0.29% | 161.75% | 20.02% | 9.27% | -4.09% | -9.30% | 18.16% | 38.67% | -5.12% | 0.49% |
Correlation
The correlation between SPPP.L and AUCO.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014 | 0.31 |
Over the past year, SPPP.L and AUCO.L have become more correlated (0.57) than their long-term average of 0.31, meaning their price movements have been converging.
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Return for Risk
SPPP.L vs. AUCO.L — Risk / Return Rank
SPPP.L
AUCO.L
SPPP.L vs. AUCO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Platinum (SPPP.L) and L&G Gold Mining UCITS ETF (AUCO.L). 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.
| SPPP.L | AUCO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 2.20 | +0.01 |
| Martin ratioReturn relative to average drawdown | 4.60 | 5.73 | -1.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPPP.L | AUCO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.50 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.66 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.48 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.30 | -0.06 |
Drawdowns
SPPP.L vs. AUCO.L - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, smaller than the maximum AUCO.L drawdown of -77.65%. Use the drawdown chart below to compare losses from any high point for SPPP.L and AUCO.L.
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Drawdown Indicators
| SPPP.L | AUCO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -77.65% | +32.79% |
Max Drawdown (1Y)Largest decline over 1 year | -33.68% | -29.84% | -3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -33.68% | -29.84% | -3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | -39.29% | +5.61% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | -45.83% | +0.97% |
Current DrawdownCurrent decline from peak | -32.01% | -25.59% | -6.42% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -35.95% | +17.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.21% | 11.47% | +4.74% |
Volatility
SPPP.L vs. AUCO.L - Volatility Comparison
The current volatility for Invesco Physical Platinum (SPPP.L) is 10.55%, while L&G Gold Mining UCITS ETF (AUCO.L) has a volatility of 15.22%. This indicates that SPPP.L experiences smaller price fluctuations and is considered to be less risky than AUCO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPP.L | AUCO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.55% | 15.22% | -4.67% |
Volatility (6M)Calculated over the trailing 6-month period | 41.83% | 34.96% | +6.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.25% | 43.84% | +3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.09% | 35.66% | +4.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 34.13% | +2.84% |
SPPP.L vs. AUCO.L - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than AUCO.L's 0.55% expense ratio.
Dividends
SPPP.L vs. AUCO.L - Dividend Comparison
Neither SPPP.L nor AUCO.L has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and AUCO.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPPP.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPPP.L is cheaper with a 0.19% expense ratio, compared with 0.55% for AUCO.L.
SPPP.L is categorized as Precious Metals, while AUCO.L is Gold. SPPP.L tracks Platinum, while AUCO.L tracks STOXX Global Gold Miners Index. They also come from different issuers: Invesco and L&G. Their fees differ too: 0.19% for SPPP.L and 0.55% for AUCO.L.
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