SPPP.L vs. IAU
SPPP.L (Invesco Physical Platinum) and IAU (iShares Gold Trust) are both exchange-traded funds - SPPP.L is a Precious Metals fund tracking the Platinum, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SPPP.L returned 7.15%/yr vs 14.23%/yr for IAU. At a 0.28 correlation, their price movements are largely independent. SPPP.L charges 0.19%/yr vs 0.25%/yr for IAU.
Performance
SPPP.L vs. IAU - Performance Comparison
Loading charts...
Different Trading Currencies
SPPP.L is traded in GBp, while IAU is traded in USD. To make them comparable, the IAU 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 IAU's 4.25% return. Over the past 10 years, SPPP.L has underperformed IAU with an annualized return of 7.15%, while IAU has yielded a comparatively higher 14.23% 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%
IAU
- 1D
- 0.83%
- 1M
- -0.74%
- YTD
- 4.25%
- 6M
- 5.57%
- 1Y
- 33.76%
- 3Y*
- 28.09%
- 5Y*
- 19.80%
- 10Y*
- 14.23%
SPPP.L vs. IAU - 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% |
IAU iShares Gold Trust | 4.25% | 52.27% | 29.07% | 7.20% | 11.18% | -3.09% | 21.36% | 13.49% | 4.07% | 3.14% |
Correlation
The correlation between SPPP.L and IAU is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014 | 0.28 |
The correlation between SPPP.L and IAU shifts across timeframes, from 0.27 (10 years) to 0.47 (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. IAU — Risk / Return Rank
SPPP.L
IAU
SPPP.L vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Platinum (SPPP.L) and iShares Gold Trust (IAU). 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 | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.91 | +0.30 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.73 | -0.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPPP.L | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.35 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 1.20 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.88 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.71 | -0.47 |
Drawdowns
SPPP.L vs. IAU - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, which is greater than IAU's maximum drawdown of -41.56%. Use the drawdown chart below to compare losses from any high point for SPPP.L and IAU.
Loading charts...
Drawdown Indicators
| SPPP.L | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -41.56% | -3.30% |
Max Drawdown (1Y)Largest decline over 1 year | -33.68% | -17.76% | -15.92% |
Max Drawdown (3Y)Largest decline over 3 years | -33.68% | -17.76% | -15.92% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | -17.76% | -15.92% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | -22.73% | -22.13% |
Current DrawdownCurrent decline from peak | -32.01% | -16.13% | -15.88% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -13.02% | -5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.21% | 7.16% | +9.05% |
Volatility
SPPP.L vs. IAU - Volatility Comparison
Invesco Physical Platinum (SPPP.L) has a higher volatility of 10.55% compared to iShares Gold Trust (IAU) at 4.71%. This indicates that SPPP.L's price experiences larger fluctuations and is considered to be riskier than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPPP.L | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.55% | 4.71% | +5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 41.83% | 21.63% | +20.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.25% | 25.10% | +22.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.09% | 16.65% | +23.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 16.17% | +20.80% |
SPPP.L vs. IAU - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than IAU's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPPP.L vs. IAU - Dividend Comparison
Neither SPPP.L nor IAU has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and IAU have a correlation of 0.47, 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 0.25% for IAU.
SPPP.L is categorized as Precious Metals, while IAU is Gold. SPPP.L tracks Platinum, while IAU tracks LBMA Gold Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for SPPP.L and 0.25% for IAU.
Find the right allocation for SPPP.L and IAU
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