SPPP.L vs. XPPE.DE
SPPP.L (Invesco Physical Platinum) and XPPE.DE (Xtrackers IE Physical Platinum (EUR Hedged) ETC Securities) are both Precious Metals funds - SPPP.L tracks the Platinum while XPPE.DE tracks the Platinum (EUR Hedged). Both are passively managed. Over the past 5 years, SPPP.L returned 8.18%/yr vs 4.07%/yr for XPPE.DE. Their correlation of 0.89 suggests significant overlap in exposure. SPPP.L charges 0.19%/yr vs 0.73%/yr for XPPE.DE.
Performance
SPPP.L vs. XPPE.DE - Performance Comparison
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Different Trading Currencies
SPPP.L is traded in GBp, while XPPE.DE is traded in EUR. To make them comparable, the XPPE.DE 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 -20.95% return, which is significantly higher than XPPE.DE's -31.43% return.
SPPP.L
- 1D
- -1.64%
- 1M
- -17.86%
- YTD
- -20.95%
- 6M
- -28.29%
- 1Y
- 20.98%
- 3Y*
- 17.64%
- 5Y*
- 8.18%
- 10Y*
- 3.71%
XPPE.DE
- 1D
- 0.00%
- 1M
- -18.67%
- YTD
- -31.43%
- 6M
- -31.43%
- 1Y
- 14.27%
- 3Y*
- 16.05%
- 5Y*
- 4.07%
- 10Y*
- —
SPPP.L vs. XPPE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPPP.L Invesco Physical Platinum | -20.95% | 104.81% | -8.43% | -10.70% | 24.01% | -10.35% | 18.09% |
XPPE.DE Xtrackers IE Physical Platinum (EUR Hedged) ETC Securities | -31.43% | 145.30% | -14.92% | -10.78% | 11.30% | -17.78% | 26.98% |
Correlation
The correlation between SPPP.L and XPPE.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | 0.89 |
The correlation between SPPP.L and XPPE.DE has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
SPPP.L vs. XPPE.DE — Risk / Return Rank
SPPP.L
XPPE.DE
SPPP.L vs. XPPE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Platinum (SPPP.L) and Xtrackers IE Physical Platinum (EUR Hedged) ETC Securities (XPPE.DE). 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 | XPPE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.09 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 0.31 | +0.17 |
| Martin ratioReturn relative to average drawdown | 1.09 | 0.68 | +0.40 |
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Drawdowns
SPPP.L vs. XPPE.DE - Drawdown Comparison
The maximum SPPP.L drawdown since its inception was -44.86%, roughly equal to the maximum XPPE.DE drawdown of -45.89%. Use the drawdown chart below to compare losses from any high point for SPPP.L and XPPE.DE.
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Drawdown Indicators
| SPPP.L | XPPE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -45.89% | +1.03% |
Max Drawdown (1Y)Largest decline over 1 year | -43.34% | -45.89% | +2.55% |
Max Drawdown (3Y)Largest decline over 3 years | -43.34% | -45.89% | +2.55% |
Max Drawdown (5Y)Largest decline over 5 years | -43.34% | -45.89% | +2.55% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | — | — |
Current DrawdownCurrent decline from peak | -43.34% | -45.89% | +2.55% |
Average DrawdownAverage peak-to-trough decline | -19.62% | -24.95% | +5.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.23% | 20.81% | -1.58% |
Volatility
SPPP.L vs. XPPE.DE - Volatility Comparison
The current volatility for Invesco Physical Platinum (SPPP.L) is 10.41%, while Xtrackers IE Physical Platinum (EUR Hedged) ETC Securities (XPPE.DE) has a volatility of 11.45%. This indicates that SPPP.L experiences smaller price fluctuations and is considered to be less risky than XPPE.DE 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 | XPPE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.41% | 11.45% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 39.73% | 40.39% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.36% | 47.14% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.57% | 31.96% | -1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.77% | 32.39% | -4.62% |
SPPP.L vs. XPPE.DE - Expense Ratio Comparison
SPPP.L has a 0.19% expense ratio, which is lower than XPPE.DE's 0.73% expense ratio.
Dividends
SPPP.L vs. XPPE.DE - Dividend Comparison
Neither SPPP.L nor XPPE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, SPPP.L and XPPE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.73% for XPPE.DE.
SPPP.L tracks Platinum, while XPPE.DE tracks Platinum (EUR Hedged). They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.19% for SPPP.L and 0.73% for XPPE.DE.
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