SPPP vs. ADX

Last updated Jun 23, 2026

SPPP (Sprott Physical Platinum and Palladium Trust) and ADX (Adams Diversified Equity Fund, Inc.) are both funds - SPPP is a Precious Metals fund actively managed by Sprott, while ADX is a Large Cap Blend Equities fund actively managed by Adams Funds. Both are actively managed. Over the past 10 years, SPPP returned 7.38%/yr vs 18.49%/yr for ADX. At a 0.24 correlation, their price movements are largely independent. SPPP charges 1.02%/yr vs 0.59%/yr for ADX.

Performance

SPPP vs. ADX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Platinum and Palladium Trust (SPPP) and Adams Diversified Equity Fund, Inc. (ADX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPPP achieves a -21.62% return, which is significantly lower than ADX's 11.55% return. Over the past 10 years, SPPP has underperformed ADX with an annualized return of 7.38%, while ADX has yielded a comparatively higher 18.49% annualized return.

SPPP

• 1D: -1.71%
• 1M: -11.23%
• YTD: -21.62%
• 6M: -24.40%
• 1Y: 16.71%
• 3Y*: 5.41%
• 5Y*: -6.36%
• 10Y*: 7.38%

ADX

• 1D: -1.15%
• 1M: -0.08%
• YTD: 11.55%
• 6M: 13.84%
• 1Y: 30.85%
• 3Y*: 27.81%
• 5Y*: 16.80%
• 10Y*: 18.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPPP vs. ADX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPPP Sprott Physical Platinum and Palladium Trust	-21.62%	89.43%	-11.89%	-25.86%	-2.37%	-21.77%	23.84%	46.00%	5.53%	35.36%
ADX Adams Diversified Equity Fund, Inc.	11.55%	26.03%	28.31%	31.49%	-19.82%	29.69%	17.28%	36.75%	-3.58%	29.61%

Correlation

The correlation between SPPP and ADX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Dec 19, 2012	0.24

Return for Risk

SPPP vs. ADX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPPP

SPPP Risk / Return Rank: 14
SPPP Sharpe Ratio Rank: 13
SPPP Sortino Ratio Rank: 14
SPPP Omega Ratio Rank: 16
SPPP Calmar Ratio Rank: 13
SPPP Martin Ratio Rank: 12

ADX

ADX Risk / Return Rank: 67
ADX Sharpe Ratio Rank: 63
ADX Sortino Ratio Rank: 64
ADX Omega Ratio Rank: 53
ADX Calmar Ratio Rank: 69
ADX Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPPP vs. ADX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and Adams Diversified Equity Fund, Inc. (ADX). 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	ADX	Difference
Sharpe ratio: Return per unit of total volatility	0.33	2.15	-1.82
Sortino ratio: Return per unit of downside risk	0.76	3.05	-2.30
Omega ratio: Gain probability vs. loss probability	1.11	1.37	-0.26
Calmar ratio: Return relative to maximum drawdown	0.40	3.05	-2.65
Martin ratio: Return relative to average drawdown	0.85	15.50	-14.65

SPPP vs. ADX - Sharpe Ratio Comparison

The current SPPP Sharpe Ratio is 0.33, which is lower than the ADX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of SPPP and ADX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPPP vs. ADX - Drawdown Comparison

The maximum SPPP drawdown since its inception was -59.09%, smaller than the maximum ADX drawdown of -71.60%. Use the drawdown chart below to compare losses from any high point for SPPP and ADX.

Drawdown Indicators

	SPPP	ADX	Difference
Max Drawdown Largest peak-to-trough decline	-59.09%	-71.60%	+12.51%
Max Drawdown (1Y) Largest decline over 1 year	-42.21%	-10.16%	-32.05%
Max Drawdown (3Y) Largest decline over 3 years	-42.21%	-18.29%	-23.92%
Max Drawdown (5Y) Largest decline over 5 years	-58.50%	-25.07%	-33.43%
Max Drawdown (10Y) Largest decline over 10 years	-59.09%	-37.17%	-21.92%
Current Drawdown Current decline from peak	-41.54%	-2.42%	-39.12%
Average Drawdown Average peak-to-trough decline	-26.51%	-22.11%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.60%	2.00%	+17.60%

Volatility

SPPP vs. ADX - Volatility Comparison

Sprott Physical Platinum and Palladium Trust (SPPP) has a higher volatility of 11.76% compared to Adams Diversified Equity Fund, Inc. (ADX) at 4.82%. This indicates that SPPP's price experiences larger fluctuations and is considered to be riskier than ADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPPP	ADX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.76%	4.82%	+6.94%
Volatility (6M) Calculated over the trailing 6-month period	46.30%	11.24%	+35.06%
Volatility (1Y) Calculated over the trailing 1-year period	51.52%	14.45%	+37.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.05%	17.40%	+17.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.25%	18.07%	+15.18%

SPPP vs. ADX - Expense Ratio Comparison

SPPP has a 1.02% expense ratio, which is higher than ADX's 0.59% expense ratio.

Dividends

SPPP vs. ADX - Dividend Comparison

SPPP has not paid dividends to shareholders, while ADX's dividend yield for the trailing twelve months is around 7.48%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADX Adams Diversified Equity Fund, Inc.	7.48%	7.93%	12.38%	7.34%	7.36%	15.35%	6.54%	9.00%	15.85%	9.18%	7.79%	7.17%
SPPP Sprott Physical Platinum and Palladium Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPPP and ADX in my portfolio?

SPPP and ADX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPPP or ADX?

SPPP has higher volatility (11.76%) compared to ADX (4.82%). In terms of maximum drawdown, SPPP dropped -59.09% vs ADX's -71.60%.

Which has better risk-adjusted returns?

ADX currently has the higher Sharpe Ratio (2.15 vs 0.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.