SPPP.L vs. SSLN.L
SPPP.L (Invesco Physical Platinum) and SSLN.L (iShares Physical Silver ETC) are both exchange-traded funds - SPPP.L is a Precious Metals fund tracking the Platinum, while SSLN.L is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SPPP.L returned 7.15%/yr vs 16.71%/yr for SSLN.L. At a 0.40 correlation, their price movements are largely independent. SPPP.L charges 0.19%/yr vs 0.20%/yr for SSLN.L.
Performance
SPPP.L vs. SSLN.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 SSLN.L's 3.18% return. Over the past 10 years, SPPP.L has underperformed SSLN.L with an annualized return of 7.15%, while SSLN.L has yielded a comparatively higher 16.71% 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%
SSLN.L
- 1D
- 0.48%
- 1M
- 1.18%
- YTD
- 3.18%
- 6M
- 28.32%
- 1Y
- 115.93%
- 3Y*
- 42.31%
- 5Y*
- 22.99%
- 10Y*
- 16.71%
SPPP.L vs. SSLN.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% |
SSLN.L iShares Physical Silver ETC | 3.18% | 130.26% | 23.21% | -6.20% | 15.75% | -11.64% | 40.73% | 12.68% | -3.48% | -5.59% |
Correlation
The correlation between SPPP.L and SSLN.L is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014 | 0.40 |
Over the past year, SPPP.L and SSLN.L have become more correlated (0.75) than their long-term average of 0.40, meaning their price movements have been converging.
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Return for Risk
SPPP.L vs. SSLN.L — Risk / Return Rank
SPPP.L
SSLN.L
SPPP.L vs. SSLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Platinum (SPPP.L) and iShares Physical Silver ETC (SSLN.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 | SSLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 2.98 | -0.77 |
| Martin ratioReturn relative to average drawdown | 4.60 | 6.53 | -1.93 |
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 | SSLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 2.11 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.70 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.57 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.17 | +0.07 |
Drawdowns
SPPP.L vs. SSLN.L - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, smaller than the maximum SSLN.L drawdown of -69.95%. Use the drawdown chart below to compare losses from any high point for SPPP.L and SSLN.L.
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Drawdown Indicators
| SPPP.L | SSLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -69.95% | +25.09% |
Max Drawdown (1Y)Largest decline over 1 year | -33.68% | -38.72% | +5.04% |
Max Drawdown (3Y)Largest decline over 3 years | -33.68% | -38.72% | +5.04% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | -38.72% | +5.04% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | -38.72% | -6.14% |
Current DrawdownCurrent decline from peak | -32.01% | -33.62% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -45.32% | +26.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.21% | 17.69% | -1.48% |
Volatility
SPPP.L vs. SSLN.L - Volatility Comparison
The current volatility for Invesco Physical Platinum (SPPP.L) is 10.55%, while iShares Physical Silver ETC (SSLN.L) has a volatility of 16.31%. This indicates that SPPP.L experiences smaller price fluctuations and is considered to be less risky than SSLN.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 | SSLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.55% | 16.31% | -5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 41.83% | 51.81% | -9.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.25% | 54.53% | -7.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.09% | 33.31% | +6.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 29.69% | +7.28% |
SPPP.L vs. SSLN.L - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than SSLN.L's 0.20% 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. SSLN.L - Dividend Comparison
Neither SPPP.L nor SSLN.L has paid dividends to shareholders.
Frequently Asked Questions
SPPP.L and SSLN.L have a correlation of 0.75, 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 0.20% for SSLN.L.
SPPP.L is categorized as Precious Metals, while SSLN.L is Silver. SPPP.L tracks Platinum, while SSLN.L tracks LBMA Silver Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for SPPP.L and 0.20% for SSLN.L.
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