SPPP vs. SETM
SPPP (Sprott Physical Platinum and Palladium Trust) and SETM (Sprott Energy Transition Materials ETF) are both exchange-traded funds - SPPP is a Precious Metals fund actively managed by Sprott, while SETM is a Energy Equities fund tracking the Nasdaq Sprott Energy Transition Materials Select Index - AUD - Benchmark TR Gross. SPPP is actively managed, while SETM is passively managed. Over the past 3 years, SPPP returned 5.59%/yr vs 30.90%/yr for SETM. A 0.52 correlation means they provide meaningful diversification when combined. SPPP charges 1.02%/yr vs 0.65%/yr for SETM.
Performance
SPPP vs. SETM - Performance Comparison
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Returns By Period
In the year-to-date period, SPPP achieves a -14.37% return, which is significantly lower than SETM's 27.22% 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%
SETM
- 1D
- -4.09%
- 1M
- 2.39%
- YTD
- 27.22%
- 6M
- 33.66%
- 1Y
- 144.21%
- 3Y*
- 30.90%
- 5Y*
- —
- 10Y*
- —
SPPP vs. SETM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPPP Sprott Physical Platinum and Palladium Trust | -14.37% | 89.43% | -11.89% | -24.25% |
SETM Sprott Energy Transition Materials ETF | 27.22% | 95.27% | -13.24% | -11.03% |
Correlation
The correlation between SPPP and SETM is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2023 | 0.52 |
The correlation between SPPP and SETM has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.
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Return for Risk
SPPP vs. SETM — Risk / Return Rank
SPPP
SETM
SPPP vs. SETM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and Sprott Energy Transition Materials ETF (SETM). 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 | SETM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.44 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 5.61 | -4.56 |
| Martin ratioReturn relative to average drawdown | 2.23 | 17.42 | -15.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPPP | SETM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 3.25 | -2.47 |
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 | 0.59 | -0.50 |
Drawdowns
SPPP vs. SETM - Drawdown Comparison
The maximum SPPP drawdown since its inception was -59.09%, which is greater than SETM's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for SPPP and SETM.
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Drawdown Indicators
| SPPP | SETM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.09% | -42.81% | -16.28% |
Max Drawdown (1Y)Largest decline over 1 year | -37.42% | -25.85% | -11.57% |
Max Drawdown (3Y)Largest decline over 3 years | -37.42% | -42.81% | +5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -58.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -59.09% | — | — |
Current DrawdownCurrent decline from peak | -36.14% | -7.30% | -28.84% |
Average DrawdownAverage peak-to-trough decline | -26.48% | -14.26% | -12.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.60% | 8.31% | +9.29% |
Volatility
SPPP vs. SETM - Volatility Comparison
The current volatility for Sprott Physical Platinum and Palladium Trust (SPPP) is 10.71%, while Sprott Energy Transition Materials ETF (SETM) has a volatility of 13.58%. This indicates that SPPP experiences smaller price fluctuations and is considered to be less risky than SETM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPP | SETM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.71% | 13.58% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 45.53% | 34.49% | +11.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.97% | 44.71% | +6.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.89% | 36.57% | -1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.10% | 36.57% | -3.47% |
SPPP vs. SETM - Expense Ratio Comparison
SPPP has a 1.02% expense ratio, which is higher than SETM's 0.65% expense ratio.
Dividends
SPPP vs. SETM - Dividend Comparison
SPPP has not paid dividends to shareholders, while SETM's dividend yield for the trailing twelve months is around 1.23%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SETM Sprott Energy Transition Materials ETF | 1.23% | 1.56% | 2.07% | 2.47% |
SPPP Sprott Physical Platinum and Palladium Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPPP and SETM have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SETM has higher volatility (13.58%) compared to SPPP (10.71%). In terms of maximum drawdown, SPPP dropped -59.09% vs SETM's -42.81%.
On 3-year performance, SETM leads with 30.90% vs 5.59% for SPPP. On fees, SETM is cheaper at 0.65% per year. On volatility, SPPP has been the lower-risk option at 10.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SETM has performed better with a 30.90% return vs 5.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SETM is cheaper with a 0.65% expense ratio, compared with 1.02% for SPPP.
SETM has the higher dividend yield at 1.23%, compared with 0.00% for SPPP.
SPPP is categorized as Precious Metals, while SETM is Energy Equities. Their fees differ too: 1.02% for SPPP and 0.65% for SETM.
SETM currently has the higher Sharpe Ratio (3.25 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.
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