SPPP vs. QQQI

Last updated Jun 4, 2026

SPPP (Sprott Physical Platinum and Palladium Trust) and QQQI (NEOS Nasdaq-100 High Income ETF) are both exchange-traded funds - SPPP is a Precious Metals fund actively managed by Sprott, while QQQI is a Nasdaq-100 fund actively managed by Neos. Both are actively managed. Over the past year, SPPP returned 39.19% vs 30.41% for QQQI. At a 0.28 correlation, their price movements are largely independent. SPPP charges 1.02%/yr vs 0.68%/yr for QQQI.

Performance

SPPP vs. QQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Platinum and Palladium Trust (SPPP) and NEOS Nasdaq-100 High Income ETF (QQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPPP achieves a -14.37% return, which is significantly lower than QQQI's 13.43% return.

SPPP

• 1D: -4.12%
• 1M: -6.42%
• YTD: -14.37%
• 6M: -2.30%
• 1Y: 39.19%
• 3Y*: 5.59%
• 5Y*: -6.33%
• 10Y*: 8.53%

QQQI

• 1D: -0.17%
• 1M: 6.91%
• YTD: 13.43%
• 6M: 12.92%
• 1Y: 30.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPPP vs. QQQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPPP Sprott Physical Platinum and Palladium Trust	-14.37%	89.43%	-5.83%
QQQI NEOS Nasdaq-100 High Income ETF	13.43%	18.62%	19.83%

Correlation

The correlation between SPPP and QQQI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jan 31, 2024	0.28

Return for Risk

SPPP vs. QQQI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPPP

SPPP Risk / Return Rank: 22
SPPP Sharpe Ratio Rank: 22
SPPP Sortino Ratio Rank: 23
SPPP Omega Ratio Rank: 25
SPPP Calmar Ratio Rank: 23
SPPP Martin Ratio Rank: 20

QQQI

QQQI Risk / Return Rank: 68
QQQI Sharpe Ratio Rank: 70
QQQI Sortino Ratio Rank: 66
QQQI Omega Ratio Rank: 70
QQQI Calmar Ratio Rank: 63
QQQI Martin Ratio Rank: 74

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. QQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and NEOS Nasdaq-100 High Income ETF (QQQI). 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.

	SPPP	QQQI	Difference
Sharpe ratio: Return per unit of total volatility	0.77	2.35	-1.58
Sortino ratio: Return per unit of downside risk	1.23	3.12	-1.88
Omega ratio: Gain probability vs. loss probability	1.18	1.43	-0.26
Calmar ratio: Return relative to maximum drawdown	1.05	3.18	-2.13
Martin ratio: Return relative to average drawdown	2.23	14.27	-12.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPPP vs. QQQI - Sharpe Ratio Comparison

The current SPPP Sharpe Ratio is 0.77, which is lower than the QQQI Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of SPPP and QQQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPPP	QQQI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	2.35	-1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	1.34	-1.24

Drawdowns

SPPP vs. QQQI - Drawdown Comparison

The maximum SPPP drawdown since its inception was -59.09%, which is greater than QQQI's maximum drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for SPPP and QQQI.

Drawdown Indicators

	SPPP	QQQI	Difference
Max Drawdown Largest peak-to-trough decline	-59.09%	-20.00%	-39.09%
Max Drawdown (1Y) Largest decline over 1 year	-37.42%	-9.61%	-27.81%
Max Drawdown (3Y) Largest decline over 3 years	-37.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-58.50%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.09%	—	—
Current Drawdown Current decline from peak	-36.14%	-0.17%	-35.97%
Average Drawdown Average peak-to-trough decline	-26.48%	-2.20%	-24.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.60%	2.14%	+15.46%

Volatility

SPPP vs. QQQI - Volatility Comparison

Sprott Physical Platinum and Palladium Trust (SPPP) has a higher volatility of 10.71% compared to NEOS Nasdaq-100 High Income ETF (QQQI) at 2.68%. This indicates that SPPP's price experiences larger fluctuations and is considered to be riskier than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPPP	QQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.71%	2.68%	+8.03%
Volatility (6M) Calculated over the trailing 6-month period	45.53%	9.85%	+35.68%
Volatility (1Y) Calculated over the trailing 1-year period	50.97%	12.98%	+37.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.89%	17.07%	+17.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.10%	17.07%	+16.03%

SPPP vs. QQQI - Expense Ratio Comparison

SPPP has a 1.02% expense ratio, which is higher than QQQI's 0.68% expense ratio.

Dividends

SPPP vs. QQQI - Dividend Comparison

SPPP has not paid dividends to shareholders, while QQQI's dividend yield for the trailing twelve months is around 13.19%.

Position	TTM	2025	2024
QQQI NEOS Nasdaq-100 High Income ETF	13.19%	13.82%	12.85%
SPPP Sprott Physical Platinum and Palladium Trust	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPPP and QQQI in my portfolio?

SPPP and QQQI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPPP or QQQI?

SPPP has higher volatility (10.71%) compared to QQQI (2.68%). In terms of maximum drawdown, SPPP dropped -59.09% vs QQQI's -20.00%.

Which ETF is better, SPPP or QQQI?

On 1-year performance, SPPP leads with 39.19% vs 30.41% for QQQI. On fees, QQQI is cheaper at 0.68% per year. On volatility, QQQI has been the lower-risk option at 2.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPPP or QQQI?

Over the 1-year period, SPPP has performed better with a 39.19% return vs 30.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPPP or QQQI?

QQQI is cheaper with a 0.68% expense ratio, compared with 1.02% for SPPP.

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

QQQI has the higher dividend yield at 13.19%, compared with 0.00% for SPPP.

What is the main difference between SPPP and QQQI?

SPPP is categorized as Precious Metals, while QQQI is Nasdaq-100. They also come from different issuers: Sprott and Neos. Their fees differ too: 1.02% for SPPP and 0.68% for QQQI.

Which has better risk-adjusted returns?

QQQI currently has the higher Sharpe Ratio (2.35 vs 0.77), 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.