SPPP.L vs. AUCP.L
SPPP.L (Invesco Physical Platinum) and AUCP.L (L&G Gold Mining UCITS ETF) are both exchange-traded funds - SPPP.L is a Precious Metals fund tracking the Platinum, while AUCP.L is a Gold fund tracking the STOXX Global Gold Miners. Both are passively managed. Over the past 10 years, SPPP.L returned 4.80%/yr vs 13.49%/yr for AUCP.L. A 0.51 correlation means they provide meaningful diversification when combined. SPPP.L charges 0.19%/yr vs 0.55%/yr for AUCP.L.
Performance
SPPP.L vs. AUCP.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPPP.L achieves a -18.18% return, which is significantly lower than AUCP.L's -10.22% return. Over the past 10 years, SPPP.L has underperformed AUCP.L with an annualized return of 4.80%, while AUCP.L has yielded a comparatively higher 13.49% annualized return.
SPPP.L
- 1D
- 1.11%
- 1M
- -15.89%
- YTD
- -18.18%
- 6M
- -29.79%
- 1Y
- 24.76%
- 3Y*
- 18.12%
- 5Y*
- 8.64%
- 10Y*
- 4.80%
AUCP.L
- 1D
- 1.39%
- 1M
- -11.29%
- YTD
- -10.22%
- 6M
- -14.31%
- 1Y
- 55.82%
- 3Y*
- 45.12%
- 5Y*
- 23.87%
- 10Y*
- 13.49%
SPPP.L vs. AUCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPPP.L Invesco Physical Platinum | -18.18% | 104.81% | -8.43% | -10.70% | 24.01% | -10.35% | 7.05% | 17.67% | -9.95% | -6.88% |
AUCP.L L&G Gold Mining UCITS ETF | -10.22% | 161.99% | 20.20% | 8.69% | -4.04% | -8.91% | 17.60% | 39.53% | -5.63% | 0.57% |
Correlation
The correlation between SPPP.L and AUCP.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014 | 0.51 |
The correlation between SPPP.L and AUCP.L shifts across timeframes, from 0.50 (5 years) to 0.62 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPPP.L vs. AUCP.L — Risk / Return Rank
SPPP.L
AUCP.L
SPPP.L vs. AUCP.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 (AUCP.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.
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.
| SPPP.L | AUCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.21 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 1.56 | -0.97 |
| Martin ratioReturn relative to average drawdown | 1.32 | 4.09 | -2.77 |
Loading charts...
Drawdowns
SPPP.L vs. AUCP.L - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, smaller than the maximum AUCP.L drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SPPP.L and AUCP.L.
Loading charts...
Drawdown Indicators
| SPPP.L | AUCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -81.66% | +36.80% |
Max Drawdown (1Y)Largest decline over 1 year | -42.01% | -35.61% | -6.40% |
Max Drawdown (3Y)Largest decline over 3 years | -42.01% | -35.61% | -6.40% |
Max Drawdown (5Y)Largest decline over 5 years | -42.01% | -39.38% | -2.63% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | -45.72% | +0.86% |
Current DrawdownCurrent decline from peak | -41.37% | -32.88% | -8.49% |
Average DrawdownAverage peak-to-trough decline | -19.60% | -45.85% | +26.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.67% | 13.60% | +5.07% |
Volatility
SPPP.L vs. AUCP.L - Volatility Comparison
The current volatility for Invesco Physical Platinum (SPPP.L) is 9.95%, while L&G Gold Mining UCITS ETF (AUCP.L) has a volatility of 17.90%. This indicates that SPPP.L experiences smaller price fluctuations and is considered to be less risky than AUCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPPP.L | AUCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 17.90% | -7.95% |
Volatility (6M)Calculated over the trailing 6-month period | 41.30% | 37.14% | +4.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.58% | 46.44% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.54% | 39.29% | -8.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.79% | 36.09% | -8.30% |
SPPP.L vs. AUCP.L - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than AUCP.L's 0.55% expense ratio.
Dividends
SPPP.L vs. AUCP.L - Dividend Comparison
Neither SPPP.L nor AUCP.L has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and AUCP.L have a correlation of 0.62, 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 AUCP.L.
SPPP.L is categorized as Precious Metals, while AUCP.L is Gold. SPPP.L tracks Platinum, while AUCP.L tracks STOXX Global Gold Miners. They also come from different issuers: Invesco and Legal & General. Their fees differ too: 0.19% for SPPP.L and 0.55% for AUCP.L.
Find the right allocation for SPPP.L and AUCP.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer