SPPP.L vs. SPGP.L
SPPP.L (Invesco Physical Platinum) and SPGP.L (iShares Gold Producers UCITS ETF) are both Precious Metals funds - SPPP.L tracks the Platinum while SPGP.L tracks the EMIX Global Mining Global Gold TR USD. Both are passively managed. Over the past 10 years, SPPP.L returned 7.15%/yr vs 14.96%/yr for SPGP.L. At a 0.32 correlation, their price movements are largely independent. SPPP.L charges 0.19%/yr vs 0.55%/yr for SPGP.L.
Performance
SPPP.L vs. SPGP.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 SPGP.L's 1.44% return. Over the past 10 years, SPPP.L has underperformed SPGP.L with an annualized return of 7.15%, while SPGP.L has yielded a comparatively higher 14.96% 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%
SPGP.L
- 1D
- 0.61%
- 1M
- 0.17%
- YTD
- 1.44%
- 6M
- 6.67%
- 1Y
- 64.79%
- 3Y*
- 38.31%
- 5Y*
- 19.91%
- 10Y*
- 14.96%
SPPP.L vs. SPGP.L - 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% |
SPGP.L iShares Gold Producers UCITS ETF | 1.44% | 137.41% | 12.81% | 3.72% | -0.45% | -9.15% | 19.43% | 41.00% | -4.37% | -2.80% |
Correlation
The correlation between SPPP.L and SPGP.L is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014 | 0.32 |
Over the past year, SPPP.L and SPGP.L have become more correlated (0.53) than their long-term average of 0.32, meaning their price movements have been converging.
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Return for Risk
SPPP.L vs. SPGP.L — Risk / Return Rank
SPPP.L
SPGP.L
SPPP.L vs. SPGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Platinum (SPPP.L) and iShares Gold Producers UCITS ETF (SPGP.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 | SPGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 2.33 | -0.12 |
| Martin ratioReturn relative to average drawdown | 4.60 | 5.97 | -1.38 |
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 | SPGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.60 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.63 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.46 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.12 | +0.12 |
Drawdowns
SPPP.L vs. SPGP.L - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, smaller than the maximum SPGP.L drawdown of -79.54%. Use the drawdown chart below to compare losses from any high point for SPPP.L and SPGP.L.
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Drawdown Indicators
| SPPP.L | SPGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -79.54% | +34.68% |
Max Drawdown (1Y)Largest decline over 1 year | -33.68% | -27.66% | -6.02% |
Max Drawdown (3Y)Largest decline over 3 years | -33.68% | -27.66% | -6.02% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | -34.81% | +1.13% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | -43.71% | -1.15% |
Current DrawdownCurrent decline from peak | -32.01% | -24.04% | -7.97% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -42.31% | +23.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.21% | 10.81% | +5.40% |
Volatility
SPPP.L vs. SPGP.L - Volatility Comparison
The current volatility for Invesco Physical Platinum (SPPP.L) is 10.55%, while iShares Gold Producers UCITS ETF (SPGP.L) has a volatility of 13.10%. This indicates that SPPP.L experiences smaller price fluctuations and is considered to be less risky than SPGP.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 | SPGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.55% | 13.10% | -2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 41.83% | 32.23% | +9.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.25% | 40.28% | +6.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.09% | 31.56% | +8.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 32.31% | +4.66% |
SPPP.L vs. SPGP.L - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than SPGP.L's 0.55% expense ratio.
Dividends
SPPP.L vs. SPGP.L - Dividend Comparison
Neither SPPP.L nor SPGP.L has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and SPGP.L have a correlation of 0.53, 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 SPGP.L.
SPPP.L tracks Platinum, while SPGP.L tracks EMIX Global Mining Global Gold TR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for SPPP.L and 0.55% for SPGP.L.
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