SPPP.L vs. SGLD.L
SPPP.L (Invesco Physical Platinum) and SGLD.L (Invesco Physical Gold ETC) are both exchange-traded funds - SPPP.L is a Precious Metals fund tracking the Platinum, while SGLD.L is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, SPPP.L returned 4.80%/yr vs 11.60%/yr for SGLD.L. At a 0.50 correlation, their price movements are largely independent. SPPP.L charges 0.19%/yr vs 0.12%/yr for SGLD.L.
Performance
SPPP.L vs. SGLD.L - Performance Comparison
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Different Trading Currencies
SPPP.L is traded in GBp, while SGLD.L is traded in USD. To make them comparable, the SGLD.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 -18.18% return, which is significantly lower than SGLD.L's -4.73% return. Over the past 10 years, SPPP.L has underperformed SGLD.L with an annualized return of 4.80%, while SGLD.L has yielded a comparatively higher 11.60% 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%
SGLD.L
- 1D
- 0.15%
- 1M
- -9.03%
- YTD
- -4.73%
- 6M
- -8.41%
- 1Y
- 25.15%
- 3Y*
- 26.09%
- 5Y*
- 18.75%
- 10Y*
- 11.60%
SPPP.L vs. SGLD.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% |
SGLD.L Invesco Physical Gold ETC | -4.73% | 53.13% | 28.43% | 7.70% | 11.80% | -3.17% | 20.53% | 13.83% | 4.55% | 1.90% |
Correlation
The correlation between SPPP.L and SGLD.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014 | 0.50 |
The correlation between SPPP.L and SGLD.L shifts across timeframes, from 0.44 (5 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPPP.L vs. SGLD.L — Risk / Return Rank
SPPP.L
SGLD.L
SPPP.L vs. SGLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Platinum (SPPP.L) and Invesco Physical Gold ETC (SGLD.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 | SGLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.20 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 1.08 | -0.50 |
| Martin ratioReturn relative to average drawdown | 1.32 | 3.08 | -1.76 |
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Drawdowns
SPPP.L vs. SGLD.L - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, which is greater than SGLD.L's maximum drawdown of -41.62%. Use the drawdown chart below to compare losses from any high point for SPPP.L and SGLD.L.
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Drawdown Indicators
| SPPP.L | SGLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -41.62% | -3.24% |
Max Drawdown (1Y)Largest decline over 1 year | -42.01% | -23.08% | -18.93% |
Max Drawdown (3Y)Largest decline over 3 years | -42.01% | -23.08% | -18.93% |
Max Drawdown (5Y)Largest decline over 5 years | -42.01% | -23.08% | -18.93% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | -23.08% | -21.78% |
Current DrawdownCurrent decline from peak | -41.37% | -22.88% | -18.49% |
Average DrawdownAverage peak-to-trough decline | -19.60% | -13.52% | -6.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.67% | 8.14% | +10.53% |
Volatility
SPPP.L vs. SGLD.L - Volatility Comparison
Invesco Physical Platinum (SPPP.L) has a higher volatility of 9.95% compared to Invesco Physical Gold ETC (SGLD.L) at 8.89%. This indicates that SPPP.L's price experiences larger fluctuations and is considered to be riskier than SGLD.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 | SGLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 8.89% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 41.30% | 22.44% | +18.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.58% | 25.18% | +21.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.54% | 17.03% | +13.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.79% | 15.84% | +11.95% |
SPPP.L vs. SGLD.L - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is higher than SGLD.L's 0.12% expense ratio. However, 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. SGLD.L - Dividend Comparison
Neither SPPP.L nor SGLD.L has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and SGLD.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLD.L is cheaper with a 0.12% expense ratio, compared with 0.19% for SPPP.L.
SPPP.L is categorized as Precious Metals, while SGLD.L is Gold. SPPP.L tracks Platinum, while SGLD.L tracks LBMA Gold Price PM. Their fees differ too: 0.19% for SPPP.L and 0.12% for SGLD.L.
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