SPPP vs. PSLV
SPPP (Sprott Physical Platinum and Palladium Trust) and PSLV (Sprott Physical Silver Trust) are both exchange-traded funds - SPPP is a Precious Metals fund actively managed by Sprott, while PSLV is a Silver fund tracking the No Index (Physical Silver). SPPP is actively managed, while PSLV is passively managed. Over the past 10 years, SPPP returned 5.20%/yr vs 8.96%/yr for PSLV. Their 0.53 correlation means they have sometimes moved together and sometimes differently. SPPP charges 1.02%/yr vs 0.51%/yr for PSLV.
Performance
SPPP vs. PSLV - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPPP having a -20.37% return and PSLV slightly lower at -20.51%. Over the past 10 years, SPPP has underperformed PSLV with an annualized return of 5.20%, while PSLV has yielded a comparatively higher 8.96% annualized return.
SPPP
- 1D
- -0.45%
- 1M
- 2.92%
- 6M
- -23.46%
- YTD
- -20.37%
- 1Y
- 11.19%
- 3Y*
- 6.70%
- 5Y*
- -5.73%
- 10Y*
- 5.20%
- ALL TIME*
- 2.58%
PSLV
- 1D
- -1.98%
- 1M
- -3.34%
- 6M
- -28.81%
- YTD
- -20.51%
- 1Y
- 50.16%
- 3Y*
- 31.33%
- 5Y*
- 16.13%
- 10Y*
- 8.96%
- ALL TIME*
- 4.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $153.19M | $135.68M | $193.34M | |
| $7.18M | $7.41M | $7.46M |
SPPP vs. PSLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPPP Sprott Physical Platinum and Palladium Trust | -20.37% | 89.43% | -11.89% | -25.86% | -2.37% | -21.77% | 23.84% | 46.00% | 5.53% | 35.36% |
PSLV Sprott Physical Silver Trust | -20.51% | 145.08% | 19.43% | -1.94% | 2.74% | -14.13% | 42.81% | 16.99% | -11.83% | 4.28% |
Correlation
The correlation between SPPP and PSLV is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2012 | 0.53 |
Over the past year, SPPP and PSLV have become more correlated (0.78) than their long-term average of 0.53, meaning their price movements have been converging.
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Return for Risk
SPPP vs. PSLV — Risk / Return Rank
SPPP
PSLV
SPPP vs. PSLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and Sprott Physical Silver Trust (PSLV). 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 | PSLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.20 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | 1.02 | -0.74 |
| Martin ratioReturn relative to average drawdown | 0.52 | 1.99 | -1.47 |
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Drawdowns
SPPP vs. PSLV - Drawdown Comparison
The maximum SPPP drawdown since its inception was -59.09%, smaller than the maximum PSLV drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for SPPP and PSLV.
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Drawdown Indicators
| SPPP | PSLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.09% | -79.38% | +20.29% |
Max Drawdown (1Y)Largest decline over 1 year | -45.66% | -50.83% | +5.17% |
Max Drawdown (3Y)Largest decline over 3 years | -45.66% | -50.83% | +5.17% |
Max Drawdown (5Y)Largest decline over 5 years | -58.50% | -50.83% | -7.67% |
Max Drawdown (10Y)Largest decline over 10 years | -59.09% | -50.83% | -8.26% |
Current DrawdownCurrent decline from peak | -40.61% | -48.29% | +7.68% |
Average DrawdownAverage peak-to-trough decline | -26.65% | -58.02% | +31.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.99% | 25.92% | -1.93% |
Volatility
SPPP vs. PSLV - Volatility Comparison
The current volatility for Sprott Physical Platinum and Palladium Trust (SPPP) is 10.26%, while Sprott Physical Silver Trust (PSLV) has a volatility of 11.59%. This indicates that SPPP experiences smaller price fluctuations and is considered to be less risky than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPP | PSLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.26% | 11.59% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 39.09% | 55.13% | -16.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.22% | 61.20% | -9.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.26% | 36.54% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.39% | 31.54% | +1.85% |
SPPP vs. PSLV - Expense Ratio Comparison
SPPP has a 1.02% expense ratio, which is higher than PSLV's 0.51% expense ratio.
Dividends
SPPP vs. PSLV - Dividend Comparison
Neither SPPP nor PSLV has paid dividends to shareholders.
Frequently Asked Questions
SPPP and PSLV have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSLV has higher volatility (11.59%) compared to SPPP (10.26%). In terms of maximum drawdown, SPPP dropped -59.09% vs PSLV's -79.38%.
On 10-year performance, PSLV leads with 8.96% vs 5.20% for SPPP. On fees, PSLV is cheaper at 0.51% per year. On volatility, SPPP has been the lower-risk option at 10.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSLV has performed better with a 8.96% return vs 5.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSLV is cheaper with a 0.51% expense ratio, compared with 1.02% for SPPP.
SPPP and PSLV have nearly identical dividend yields, around 0.00%.
SPPP is categorized as Precious Metals, while PSLV is Silver. Their fees differ too: 1.02% for SPPP and 0.51% for PSLV.
PSLV currently has the higher Sharpe Ratio (0.84 vs 0.25), 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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