SPPP vs. PALL
SPPP (Sprott Physical Platinum and Palladium Trust) and PALL (Aberdeen Standard Physical Palladium Shares ETF) are both Precious Metals funds. SPPP is actively managed, while PALL is passively managed. Over the past 10 years, SPPP returned 7.38%/yr vs 8.05%/yr for PALL. Their correlation of 0.85 suggests significant overlap in exposure. SPPP charges 1.02%/yr vs 0.60%/yr for PALL.
Performance
SPPP vs. PALL - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SPPP having a -21.62% return and PALL slightly higher at -21.28%. Over the past 10 years, SPPP has underperformed PALL with an annualized return of 7.38%, while PALL has yielded a comparatively higher 8.05% 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%
PALL
- 1D
- -1.46%
- 1M
- -6.65%
- YTD
- -21.28%
- 6M
- -28.69%
- 1Y
- 19.34%
- 3Y*
- -1.19%
- 5Y*
- -14.09%
- 10Y*
- 8.05%
SPPP vs. PALL - 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% |
PALL Aberdeen Standard Physical Palladium Shares ETF | -21.28% | 74.07% | -17.38% | -38.77% | -6.28% | -23.26% | 25.27% | 53.94% | 17.23% | 55.73% |
Correlation
The correlation between SPPP and PALL is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2012 | 0.85 |
The correlation between SPPP and PALL has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
SPPP vs. PALL — Risk / Return Rank
SPPP
PALL
SPPP vs. PALL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and Aberdeen Standard Physical Palladium Shares ETF (PALL). 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 | PALL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.11 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.48 | -0.08 |
| Martin ratioReturn relative to average drawdown | 0.85 | 1.06 | -0.21 |
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Drawdowns
SPPP vs. PALL - Drawdown Comparison
The maximum SPPP drawdown since its inception was -59.09%, smaller than the maximum PALL drawdown of -73.63%. Use the drawdown chart below to compare losses from any high point for SPPP and PALL.
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Drawdown Indicators
| SPPP | PALL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.09% | -73.63% | +14.54% |
Max Drawdown (1Y)Largest decline over 1 year | -42.21% | -40.70% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -42.21% | -40.70% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -58.50% | -73.63% | +15.13% |
Max Drawdown (10Y)Largest decline over 10 years | -59.09% | -73.63% | +14.54% |
Current DrawdownCurrent decline from peak | -41.54% | -61.20% | +19.66% |
Average DrawdownAverage peak-to-trough decline | -26.51% | -26.90% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.60% | 18.21% | +1.39% |
Volatility
SPPP vs. PALL - Volatility Comparison
The current volatility for Sprott Physical Platinum and Palladium Trust (SPPP) is 11.76%, while Aberdeen Standard Physical Palladium Shares ETF (PALL) has a volatility of 12.68%. This indicates that SPPP experiences smaller price fluctuations and is considered to be less risky than PALL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPP | PALL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.76% | 12.68% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 46.30% | 42.46% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.52% | 51.08% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.05% | 42.41% | -7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.25% | 38.03% | -4.78% |
SPPP vs. PALL - Expense Ratio Comparison
SPPP has a 1.02% expense ratio, which is higher than PALL's 0.60% expense ratio.
Dividends
SPPP vs. PALL - Dividend Comparison
Neither SPPP nor PALL has paid dividends to shareholders.
Frequently Asked Questions
SPPP and PALL have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PALL has higher volatility (12.68%) compared to SPPP (11.76%). In terms of maximum drawdown, SPPP dropped -59.09% vs PALL's -73.63%.
On 10-year performance, PALL leads with 8.05% vs 7.38% for SPPP. On fees, PALL is cheaper at 0.60% per year. On volatility, SPPP has been the lower-risk option at 11.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PALL has performed better with a 8.05% return vs 7.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PALL is cheaper with a 0.60% expense ratio, compared with 1.02% for SPPP.
SPPP and PALL have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Sprott and Aberdeen. Their fees differ too: 1.02% for SPPP and 0.60% for PALL.
PALL currently has the higher Sharpe Ratio (0.38 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.
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