SPPP.L vs. CMFP.L
SPPP.L (Invesco Physical Platinum) and CMFP.L (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - SPPP.L is a Precious Metals fund tracking the Platinum, while CMFP.L is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, SPPP.L returned 3.65%/yr vs 8.35%/yr for CMFP.L. At a 0.36 correlation, their price movements are largely independent. SPPP.L charges 0.19%/yr vs 0.30%/yr for CMFP.L.
Performance
SPPP.L vs. CMFP.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPPP.L achieves a -17.80% return, which is significantly lower than CMFP.L's 17.77% return. Over the past 10 years, SPPP.L has underperformed CMFP.L with an annualized return of 3.65%, while CMFP.L has yielded a comparatively higher 8.35% annualized return.
SPPP.L
- 1D
- 2.67%
- 1M
- -2.88%
- 6M
- -31.98%
- YTD
- -17.80%
- 1Y
- 14.02%
- 3Y*
- 17.50%
- 5Y*
- 8.74%
- 10Y*
- 3.65%
- ALL TIME*
- 2.58%
CMFP.L
- 1D
- 1.30%
- 1M
- 2.79%
- 6M
- 12.63%
- YTD
- 17.77%
- 1Y
- 26.73%
- 3Y*
- 9.95%
- 5Y*
- 12.09%
- 10Y*
- 8.35%
- ALL TIME*
- 0.91%
SPPP.L vs. CMFP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPPP.L Invesco Physical Platinum | -17.80% | 104.81% | -8.43% | -10.70% | 24.01% | -10.35% | 7.05% | 17.67% | -9.95% | -6.88% |
CMFP.L L&G Longer Dated All Commodities UCITS ETF | 17.77% | 8.49% | 6.86% | -11.43% | 32.79% | 34.61% | -0.92% | 3.99% | -3.16% | -6.17% |
Correlation
The correlation between SPPP.L and CMFP.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014 | 0.36 |
The correlation between SPPP.L and CMFP.L shifts across timeframes, from 0.25 (1 year) to 0.36 (all time), 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. CMFP.L — Risk / Return Rank
SPPP.L
CMFP.L
SPPP.L vs. CMFP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Platinum (SPPP.L) and L&G Longer Dated All Commodities UCITS ETF (CMFP.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 | CMFP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.32 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 2.55 | -2.22 |
| Martin ratioReturn relative to average drawdown | 0.64 | 8.00 | -7.36 |
Loading charts...
Drawdowns
SPPP.L vs. CMFP.L - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, smaller than the maximum CMFP.L drawdown of -66.80%. Use the drawdown chart below to compare losses from any high point for SPPP.L and CMFP.L.
Loading charts...
Drawdown Indicators
| SPPP.L | CMFP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -66.80% | +21.94% |
Max Drawdown (1Y)Largest decline over 1 year | -43.34% | -10.45% | -32.89% |
Max Drawdown (3Y)Largest decline over 3 years | -43.34% | -25.15% | -18.19% |
Max Drawdown (5Y)Largest decline over 5 years | -43.34% | -25.15% | -18.19% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | -25.15% | -19.71% |
Current DrawdownCurrent decline from peak | -41.09% | -6.34% | -34.75% |
Average DrawdownAverage peak-to-trough decline | -19.73% | -43.74% | +24.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.68% | 3.33% | +18.35% |
Volatility
SPPP.L vs. CMFP.L - Volatility Comparison
Invesco Physical Platinum (SPPP.L) has a higher volatility of 10.41% compared to L&G Longer Dated All Commodities UCITS ETF (CMFP.L) at 3.77%. This indicates that SPPP.L's price experiences larger fluctuations and is considered to be riskier than CMFP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPPP.L | CMFP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.41% | 3.77% | +6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 36.77% | 12.21% | +24.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.35% | 14.48% | +31.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.68% | 19.98% | +10.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.84% | 16.66% | +11.18% |
SPPP.L vs. CMFP.L - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than CMFP.L's 0.30% expense ratio.
Dividends
SPPP.L vs. CMFP.L - Dividend Comparison
Neither SPPP.L nor CMFP.L has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and CMFP.L have a correlation of 0.25, 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 0.30% for CMFP.L.
SPPP.L is categorized as Precious Metals, while CMFP.L is Commodities. SPPP.L tracks Platinum, while CMFP.L tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: Invesco and Legal & General. Their fees differ too: 0.19% for SPPP.L and 0.30% for CMFP.L.
Find the right allocation for SPPP.L and CMFP.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