SPPP.L vs. SGLS.L
SPPP.L (Invesco Physical Platinum) and SGLS.L (Invesco Physical Gold GBP Hedged ETC) are both Precious Metals funds from Invesco - SPPP.L tracks the Platinum while SGLS.L tracks the Gold (GBP Hedged). Both are passively managed. Over the past 5 years, SPPP.L returned 11.26%/yr vs 17.34%/yr for SGLS.L. At a 0.34 correlation, their price movements are largely independent. SPPP.L charges 0.19%/yr vs 0.34%/yr for SGLS.L.
Performance
SPPP.L vs. SGLS.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPPP.L achieves a -5.12% return, which is significantly lower than SGLS.L's 3.01% 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%
SGLS.L
- 1D
- 0.62%
- 1M
- -2.49%
- YTD
- 3.01%
- 6M
- 5.20%
- 1Y
- 30.77%
- 3Y*
- 29.59%
- 5Y*
- 17.34%
- 10Y*
- —
SPPP.L vs. SGLS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPPP.L Invesco Physical Platinum | -5.12% | 104.81% | -8.43% | -10.70% | 22.05% | -6.96% | 8.43% |
SGLS.L Invesco Physical Gold GBP Hedged ETC | 3.01% | 64.22% | 24.42% | 11.48% | -1.42% | -4.63% | -3.17% |
Correlation
The correlation between SPPP.L and SGLS.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2020 | 0.34 |
Over the past year, SPPP.L and SGLS.L have become more correlated (0.60) than their long-term average of 0.34, meaning their price movements have been converging.
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Return for Risk
SPPP.L vs. SGLS.L — Risk / Return Rank
SPPP.L
SGLS.L
SPPP.L vs. SGLS.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 GBP Hedged ETC (SGLS.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 | SGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.24 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.71 | +0.50 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.48 | +0.11 |
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 | SGLS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.24 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 1.07 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.90 | -0.66 |
Drawdowns
SPPP.L vs. SGLS.L - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, which is greater than SGLS.L's maximum drawdown of -21.94%. Use the drawdown chart below to compare losses from any high point for SPPP.L and SGLS.L.
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Drawdown Indicators
| SPPP.L | SGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -21.94% | -22.92% |
Max Drawdown (1Y)Largest decline over 1 year | -33.68% | -17.93% | -15.75% |
Max Drawdown (3Y)Largest decline over 3 years | -33.68% | -17.93% | -15.75% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | -21.94% | -11.74% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | — | — |
Current DrawdownCurrent decline from peak | -32.01% | -15.99% | -16.02% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -6.98% | -11.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.21% | 6.84% | +9.37% |
Volatility
SPPP.L vs. SGLS.L - Volatility Comparison
Invesco Physical Platinum (SPPP.L) has a higher volatility of 10.55% compared to Invesco Physical Gold GBP Hedged ETC (SGLS.L) at 6.40%. This indicates that SPPP.L's price experiences larger fluctuations and is considered to be riskier than SGLS.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 | SGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.55% | 6.40% | +4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 41.83% | 21.65% | +20.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.25% | 24.68% | +22.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.09% | 17.91% | +22.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 18.29% | +18.68% |
SPPP.L vs. SGLS.L - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than SGLS.L's 0.34% expense ratio.
Dividends
SPPP.L vs. SGLS.L - Dividend Comparison
Neither SPPP.L nor SGLS.L has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and SGLS.L have a correlation of 0.60, 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 0.34% for SGLS.L.
SPPP.L tracks Platinum, while SGLS.L tracks Gold (GBP Hedged). Their fees differ too: 0.19% for SPPP.L and 0.34% for SGLS.L.
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