SPPP vs. DBE
SPPP (Sprott Physical Platinum and Palladium Trust) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SPPP is a Precious Metals fund actively managed by Sprott, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. SPPP is actively managed, while DBE is passively managed. Over the past 10 years, SPPP returned 5.71%/yr vs 11.45%/yr for DBE. At a 0.19 correlation, their price movements are largely independent. SPPP charges 1.02%/yr vs 0.78%/yr for DBE.
Performance
SPPP vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, SPPP achieves a -22.92% return, which is significantly lower than DBE's 68.39% return. Over the past 10 years, SPPP has underperformed DBE with an annualized return of 5.71%, while DBE has yielded a comparatively higher 11.45% annualized return.
SPPP
- 1D
- -3.78%
- 1M
- -8.85%
- 6M
- -33.50%
- YTD
- -22.92%
- 1Y
- 1.96%
- 3Y*
- 4.91%
- 5Y*
- -6.72%
- 10Y*
- 5.71%
DBE
- 1D
- -1.09%
- 1M
- 6.25%
- 6M
- 65.69%
- YTD
- 68.39%
- 1Y
- 57.64%
- 3Y*
- 17.96%
- 5Y*
- 17.10%
- 10Y*
- 11.45%
SPPP vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPPP Sprott Physical Platinum and Palladium Trust | -22.92% | 89.43% | -11.89% | -25.86% | -2.37% | -21.77% | 23.84% | 46.00% | 5.53% | 35.36% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between SPPP and DBE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2012 | 0.19 |
The correlation between SPPP and DBE shifts across timeframes, from -0.13 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPPP vs. DBE — Risk / Return Rank
SPPP
DBE
SPPP vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and Invesco DB Energy Fund (DBE). 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 | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.28 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | 2.34 | -2.30 |
| Martin ratioReturn relative to average drawdown | 0.09 | 7.00 | -6.91 |
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Drawdowns
SPPP vs. DBE - Drawdown Comparison
The maximum SPPP drawdown since its inception was -59.09%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SPPP and DBE.
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Drawdown Indicators
| SPPP | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.09% | -86.69% | +27.60% |
Max Drawdown (1Y)Largest decline over 1 year | -45.66% | -24.72% | -20.94% |
Max Drawdown (3Y)Largest decline over 3 years | -45.66% | -24.72% | -20.94% |
Max Drawdown (5Y)Largest decline over 5 years | -58.50% | -38.74% | -19.76% |
Max Drawdown (10Y)Largest decline over 10 years | -59.09% | -60.84% | +1.75% |
Current DrawdownCurrent decline from peak | -42.52% | -36.07% | -6.45% |
Average DrawdownAverage peak-to-trough decline | -26.60% | -57.19% | +30.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.56% | 8.26% | +14.30% |
Volatility
SPPP vs. DBE - Volatility Comparison
Sprott Physical Platinum and Palladium Trust (SPPP) and Invesco DB Energy Fund (DBE) have volatilities of 11.78% and 11.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPP | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.78% | 11.68% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 41.07% | 32.70% | +8.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.51% | 35.99% | +15.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.22% | 29.88% | +5.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.35% | 28.39% | +4.96% |
SPPP vs. DBE - Expense Ratio Comparison
SPPP has a 1.02% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
SPPP vs. DBE - Dividend Comparison
SPPP has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
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% |
Frequently Asked Questions
SPPP and DBE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPPP has higher volatility (11.78%) compared to DBE (11.68%). In terms of maximum drawdown, SPPP dropped -59.09% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.45% vs 5.71% for SPPP. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 11.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 11.45% return vs 5.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 1.02% for SPPP.
DBE has the higher dividend yield at 2.29%, compared with 0.00% for SPPP.
SPPP is categorized as Precious Metals, while DBE is Oil & Gas. They also come from different issuers: Sprott and Invesco. Their fees differ too: 1.02% for SPPP and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.61 vs 0.04), 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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