SPPP vs. PPLT
SPPP (Sprott Physical Platinum and Palladium Trust) and PPLT (abrdn Physical Platinum Shares ETF) are both Precious Metals funds. SPPP is actively managed, while PPLT is passively managed. Over the past 10 years, SPPP returned 7.38%/yr vs 4.85%/yr for PPLT. A 0.72 correlation means they provide meaningful diversification when combined. SPPP charges 1.02%/yr vs 0.60%/yr for PPLT.
Performance
SPPP vs. PPLT - Performance Comparison
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Returns By Period
In the year-to-date period, SPPP achieves a -21.62% return, which is significantly lower than PPLT's -18.58% return. Over the past 10 years, SPPP has outperformed PPLT with an annualized return of 7.38%, while PPLT has yielded a comparatively lower 4.85% 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%
PPLT
- 1D
- -1.24%
- 1M
- -13.11%
- YTD
- -18.58%
- 6M
- -20.84%
- 1Y
- 31.58%
- 3Y*
- 21.38%
- 5Y*
- 8.39%
- 10Y*
- 4.85%
SPPP vs. PPLT - 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% |
PPLT abrdn Physical Platinum Shares ETF | -18.58% | 124.48% | -8.90% | -8.18% | 10.43% | -10.75% | 10.78% | 20.85% | -14.95% | 2.38% |
Correlation
The correlation between SPPP and PPLT is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| 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 | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2012 | 0.72 |
Over the past year, SPPP and PPLT have become more correlated (0.95) than their long-term average of 0.72, meaning their price movements have been converging.
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Return for Risk
SPPP vs. PPLT — Risk / Return Rank
SPPP
PPLT
SPPP vs. PPLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and abrdn Physical Platinum Shares ETF (PPLT). 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 | PPLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.15 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.79 | -0.39 |
| Martin ratioReturn relative to average drawdown | 0.85 | 1.74 | -0.89 |
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Drawdowns
SPPP vs. PPLT - Drawdown Comparison
The maximum SPPP drawdown since its inception was -59.09%, smaller than the maximum PPLT drawdown of -70.73%. Use the drawdown chart below to compare losses from any high point for SPPP and PPLT.
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Drawdown Indicators
| SPPP | PPLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.09% | -70.73% | +11.64% |
Max Drawdown (1Y)Largest decline over 1 year | -42.21% | -40.02% | -2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -42.21% | -40.02% | -2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -58.50% | -40.02% | -18.48% |
Max Drawdown (10Y)Largest decline over 10 years | -59.09% | -51.14% | -7.95% |
Current DrawdownCurrent decline from peak | -41.54% | -39.82% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -26.51% | -39.93% | +13.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.60% | 18.16% | +1.44% |
Volatility
SPPP vs. PPLT - Volatility Comparison
Sprott Physical Platinum and Palladium Trust (SPPP) and abrdn Physical Platinum Shares ETF (PPLT) have volatilities of 11.76% and 11.51%, 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 | PPLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.76% | 11.51% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 46.30% | 45.30% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.52% | 50.77% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.05% | 32.68% | +2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.25% | 29.18% | +4.07% |
SPPP vs. PPLT - Expense Ratio Comparison
SPPP has a 1.02% expense ratio, which is higher than PPLT's 0.60% expense ratio.
Dividends
SPPP vs. PPLT - Dividend Comparison
Neither SPPP nor PPLT has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, SPPP and PPLT 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.
SPPP has higher volatility (11.76%) compared to PPLT (11.51%). In terms of maximum drawdown, SPPP dropped -59.09% vs PPLT's -70.73%.
On 10-year performance, SPPP leads with 7.38% vs 4.85% for PPLT. On fees, PPLT is cheaper at 0.60% per year. On volatility, PPLT has been the lower-risk option at 11.51%. 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 7.38% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PPLT is cheaper with a 0.60% expense ratio, compared with 1.02% for SPPP.
SPPP and PPLT have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Sprott and abrdn. Their fees differ too: 1.02% for SPPP and 0.60% for PPLT.
PPLT currently has the higher Sharpe Ratio (0.63 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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