SPPP vs. PLTM

Last updated Jun 23, 2026

SPPP (Sprott Physical Platinum and Palladium Trust) and PLTM (GraniteShares Platinum Trust) are both Precious Metals funds. SPPP is actively managed, while PLTM is passively managed. Over the past 5 years, SPPP returned -6.36%/yr vs 8.59%/yr for PLTM. A 0.71 correlation means they provide meaningful diversification when combined. SPPP charges 1.02%/yr vs 0.50%/yr for PLTM.

Performance

SPPP vs. PLTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Platinum and Palladium Trust (SPPP) and GraniteShares Platinum Trust (PLTM). 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 PLTM's -18.40% 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%

PLTM

• 1D: -1.17%
• 1M: -12.83%
• YTD: -18.40%
• 6M: -20.69%
• 1Y: 31.86%
• 3Y*: 21.62%
• 5Y*: 8.59%
• 10Y*: —

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

SPPP vs. PLTM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPPP Sprott Physical Platinum and Palladium Trust	-21.62%	89.43%	-11.89%	-25.86%	-2.37%	-21.77%	23.84%	46.00%	7.25%
PLTM GraniteShares Platinum Trust	-18.40%	124.46%	-8.91%	-8.10%	10.83%	-10.52%	10.87%	20.76%	-20.92%

Correlation

The correlation between SPPP and PLTM is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Feb 5, 2018	0.71

Over the past year, SPPP and PLTM have become more correlated (0.95) than their long-term average of 0.71, meaning their price movements have been converging.

Return for Risk

SPPP vs. PLTM — 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

PLTM

PLTM Risk / Return Rank: 19
PLTM Sharpe Ratio Rank: 19
PLTM Sortino Ratio Rank: 20
PLTM Omega Ratio Rank: 22
PLTM Calmar Ratio Rank: 18
PLTM Martin Ratio Rank: 17

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. PLTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and GraniteShares Platinum Trust (PLTM). 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	PLTM	Difference
Sharpe ratio: Return per unit of total volatility	0.33	0.62	-0.30
Sortino ratio: Return per unit of downside risk	0.76	1.08	-0.32
Omega ratio: Gain probability vs. loss probability	1.11	1.15	-0.05
Calmar ratio: Return relative to maximum drawdown	0.40	0.80	-0.40
Martin ratio: Return relative to average drawdown	0.85	1.76	-0.90

SPPP vs. PLTM - Sharpe Ratio Comparison

The current SPPP Sharpe Ratio is 0.33, which is lower than the PLTM Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of SPPP and PLTM, 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. PLTM - Drawdown Comparison

The maximum SPPP drawdown since its inception was -59.09%, which is greater than PLTM's maximum drawdown of -42.32%. Use the drawdown chart below to compare losses from any high point for SPPP and PLTM.

Drawdown Indicators

	SPPP	PLTM	Difference
Max Drawdown Largest peak-to-trough decline	-59.09%	-42.32%	-16.77%
Max Drawdown (1Y) Largest decline over 1 year	-42.21%	-40.06%	-2.15%
Max Drawdown (3Y) Largest decline over 3 years	-42.21%	-40.06%	-2.15%
Max Drawdown (5Y) Largest decline over 5 years	-58.50%	-40.06%	-18.44%
Max Drawdown (10Y) Largest decline over 10 years	-59.09%	—	—
Current Drawdown Current decline from peak	-41.54%	-39.72%	-1.82%
Average Drawdown Average peak-to-trough decline	-26.51%	-18.65%	-7.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.60%	18.19%	+1.41%

Volatility

SPPP vs. PLTM - Volatility Comparison

Sprott Physical Platinum and Palladium Trust (SPPP) and GraniteShares Platinum Trust (PLTM) have volatilities of 11.76% and 11.58%, 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.

Volatility by Period

	SPPP	PLTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.76%	11.58%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	46.30%	46.02%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	51.52%	51.43%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.05%	32.99%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.25%	31.10%	+2.15%

SPPP vs. PLTM - Expense Ratio Comparison

SPPP has a 1.02% expense ratio, which is higher than PLTM's 0.50% expense ratio.

Dividends

SPPP vs. PLTM - Dividend Comparison

Neither SPPP nor PLTM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPPP and PLTM in my portfolio?

With a correlation of 0.95, SPPP and PLTM 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.

Which is riskier, SPPP or PLTM?

SPPP has higher volatility (11.76%) compared to PLTM (11.58%). In terms of maximum drawdown, SPPP dropped -59.09% vs PLTM's -42.32%.

Which ETF is better, SPPP or PLTM?

On 5-year performance, PLTM leads with 8.59% vs -6.36% for SPPP. On fees, PLTM is cheaper at 0.50% per year. On volatility, PLTM has been the lower-risk option at 11.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPPP or PLTM?

Over the 5-year period, PLTM has performed better with a 8.59% return vs -6.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPPP or PLTM?

PLTM is cheaper with a 0.50% expense ratio, compared with 1.02% for SPPP.

Which ETF pays a higher dividend yield, SPPP or PLTM?

SPPP and PLTM have nearly identical dividend yields, around 0.00%.

What is the main difference between SPPP and PLTM?

They also come from different issuers: Sprott and GraniteShares. Their fees differ too: 1.02% for SPPP and 0.50% for PLTM.

Which has better risk-adjusted returns?

PLTM currently has the higher Sharpe Ratio (0.62 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.