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SPPP vs. AMLP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPPP vs. AMLP

Last updated Jun 4, 2026

SPPP (Sprott Physical Platinum and Palladium Trust) and AMLP (Alerian MLP ETF) are both exchange-traded funds - SPPP is a Precious Metals fund actively managed by Sprott, while AMLP is a MLPs fund tracking the Alerian MLP Infrastructure Index. SPPP is actively managed, while AMLP is passively managed. Over the past 10 years, SPPP returned 8.53%/yr vs 6.76%/yr for AMLP. At a 0.20 correlation, their price movements are largely independent. SPPP charges 1.02%/yr vs 0.90%/yr for AMLP.

Performance

SPPP vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Platinum and Palladium Trust (SPPP) and Alerian MLP ETF (AMLP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPPP achieves a -14.37% return, which is significantly lower than AMLP's 16.31% return. Over the past 10 years, SPPP has outperformed AMLP with an annualized return of 8.53%, while AMLP has yielded a comparatively lower 6.76% annualized return.

SPPP

1D
-4.12%
1M
-6.42%
YTD
-14.37%
6M
-2.30%
1Y
39.19%
3Y*
5.59%
5Y*
-6.33%
10Y*
8.53%

AMLP

1D
-0.27%
1M
-0.57%
YTD
16.31%
6M
14.89%
1Y
17.06%
3Y*
20.15%
5Y*
16.90%
10Y*
6.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPPP vs. AMLP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPPP
Sprott Physical Platinum and Palladium Trust		-14.37%89.43%-11.89%-25.86%-2.37%-21.77%23.84%46.00%5.53%35.36%
AMLP
Alerian MLP ETF		16.31%5.78%22.76%21.40%25.47%39.09%-32.26%5.99%-12.67%-7.89%

Correlation

The correlation between SPPP and AMLP is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.03

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.21

Correlation (All Time)
Calculated using the full available price history since Dec 20, 2012

0.20

The correlation between SPPP and AMLP shifts across timeframes, from -0.03 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Sprott Physical Platinum and Palladium Trust

Alerian MLP ETF

Often compared with SPPP:
SPPP vs. PALLSPPP vs. PLTMSPPP vs. PPLTSPPP vs. PSLVSPPP vs. PHYSSPPP vs. SGDLXSPPP vs. ADX
Often compared with AMLP:
AMLP vs. MLPAAMLP vs. ENFRAMLP vs. XLEAMLP vs. SPYAMLP vs. ETAMLP vs. VDEAMLP vs. KYN

Return for Risk

SPPP vs. AMLP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPPP
SPPP Risk / Return Rank: 2222
Overall Rank
SPPP Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
SPPP Sortino Ratio Rank: 2323
Sortino Ratio Rank
SPPP Omega Ratio Rank: 2525
Omega Ratio Rank
SPPP Calmar Ratio Rank: 2323
Calmar Ratio Rank
SPPP Martin Ratio Rank: 2020
Martin Ratio Rank
AMLP
AMLP Risk / Return Rank: 3939
Overall Rank
AMLP Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
AMLP Sortino Ratio Rank: 3939
Sortino Ratio Rank
AMLP Omega Ratio Rank: 3737
Omega Ratio Rank
AMLP Calmar Ratio Rank: 3838
Calmar Ratio Rank
AMLP Martin Ratio Rank: 3939
Martin Ratio Rank
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. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and Alerian MLP ETF (AMLP). 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.

SPPPAMLPDifference
Sharpe ratioReturn per unit of total volatility
0.77
1.45

-0.68

Sortino ratioReturn per unit of downside risk
1.23
2.03

-0.80

Omega ratioGain probability vs. loss probability

1.18

1.25

-0.08

Calmar ratioReturn relative to maximum drawdown

1.05

1.92

-0.86

Martin ratioReturn relative to average drawdown

2.23

6.37

-4.14

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPPP vs. AMLP - Sharpe Ratio Comparison

The current SPPP Sharpe Ratio is 0.77, which is lower than the AMLP Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of SPPP and AMLP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPPPAMLPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.77

1.45

-0.68

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.18

0.85

-1.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.26

0.24

+0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

0.22

-0.13

Drawdowns

SPPP vs. AMLP - Drawdown Comparison

The maximum SPPP drawdown since its inception was -59.09%, smaller than the maximum AMLP drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for SPPP and AMLP.

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Drawdown Indicators

SPPPAMLPDifference

Max Drawdown

Largest peak-to-trough decline

-59.09%

-77.19%

+18.10%

Max Drawdown (1Y)

Largest decline over 1 year

-37.42%

-8.94%

-28.48%

Max Drawdown (3Y)

Largest decline over 3 years

-37.42%

-14.27%

-23.15%

Max Drawdown (5Y)

Largest decline over 5 years

-58.50%

-20.92%

-37.58%

Max Drawdown (10Y)

Largest decline over 10 years

-59.09%

-72.62%

+13.53%

Current Drawdown

Current decline from peak

-36.14%

-4.10%

-32.04%

Average Drawdown

Average peak-to-trough decline

-26.48%

-17.40%

-9.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

17.60%

2.68%

+14.92%

Volatility

SPPP vs. AMLP - Volatility Comparison

Sprott Physical Platinum and Palladium Trust (SPPP) has a higher volatility of 10.71% compared to Alerian MLP ETF (AMLP) at 4.91%. This indicates that SPPP's price experiences larger fluctuations and is considered to be riskier than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPPPAMLPDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.71%

4.91%

+5.80%

Volatility (6M)

Calculated over the trailing 6-month period

45.53%

8.66%

+36.87%

Volatility (1Y)

Calculated over the trailing 1-year period

50.97%

11.90%

+39.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.89%

19.98%

+14.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.10%

27.68%

+5.42%

SPPP vs. AMLP - Expense Ratio Comparison

SPPP has a 1.02% expense ratio, which is higher than AMLP's 0.90% expense ratio.

Dividends

SPPP vs. AMLP - Dividend Comparison

SPPP has not paid dividends to shareholders, while AMLP's dividend yield for the trailing twelve months is around 7.64%.

PositionTTM20252024202320222021202020192018201720162015
AMLP
Alerian MLP ETF		7.64%8.36%7.70%7.86%7.70%8.55%12.31%9.12%9.29%7.97%8.09%9.84%
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

SPPP and AMLP have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPPP has higher volatility (10.71%) compared to AMLP (4.91%). In terms of maximum drawdown, SPPP dropped -59.09% vs AMLP's -77.19%.

On 10-year performance, SPPP leads with 8.53% vs 6.76% for AMLP. On fees, AMLP is cheaper at 0.90% per year. On volatility, AMLP has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPPP has performed better with a 8.53% return vs 6.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AMLP is cheaper with a 0.90% expense ratio, compared with 1.02% for SPPP.

AMLP has the higher dividend yield at 7.64%, compared with 0.00% for SPPP.

SPPP is categorized as Precious Metals, while AMLP is MLPs. They also come from different issuers: Sprott and SS&C. Their fees differ too: 1.02% for SPPP and 0.90% for AMLP.

AMLP currently has the higher Sharpe Ratio (1.45 vs 0.77), 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.

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