SPPP vs. SLVR
SPPP (Sprott Physical Platinum and Palladium Trust) and SLVR (Sprott Silver Miners & Physical Silver ETF) are both exchange-traded funds - SPPP is a Precious Metals fund actively managed by Sprott, while SLVR is a Silver fund tracking the Nasdaq Sprott Silver Miners™ Index. SPPP is actively managed, while SLVR is passively managed. Over the past year, SPPP returned 39.19% vs 118.11% for SLVR. A 0.68 correlation means they provide meaningful diversification when combined. SPPP charges 1.02%/yr vs 0.65%/yr for SLVR.
Performance
SPPP vs. SLVR - 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 SLVR's 6.80% 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%
SLVR
- 1D
- -5.47%
- 1M
- 1.96%
- YTD
- 6.80%
- 6M
- 18.93%
- 1Y
- 118.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPPP vs. SLVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPPP Sprott Physical Platinum and Palladium Trust | -14.37% | 80.11% |
SLVR Sprott Silver Miners & Physical Silver ETF | 6.80% | 170.44% |
Correlation
The correlation between SPPP and SLVR is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025 | 0.68 |
The correlation between SPPP and SLVR has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.
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Return for Risk
SPPP vs. SLVR — Risk / Return Rank
SPPP
SLVR
SPPP vs. SLVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) and Sprott Silver Miners & Physical Silver ETF (SLVR). 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 | SLVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.31 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 3.08 | -2.03 |
| Martin ratioReturn relative to average drawdown | 2.23 | 7.66 | -5.43 |
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 | SLVR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 1.93 | -1.16 |
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 | 2.02 | -1.92 |
Drawdowns
SPPP vs. SLVR - Drawdown Comparison
The maximum SPPP drawdown since its inception was -59.09%, which is greater than SLVR's maximum drawdown of -38.60%. Use the drawdown chart below to compare losses from any high point for SPPP and SLVR.
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Drawdown Indicators
| SPPP | SLVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.09% | -38.60% | -20.49% |
Max Drawdown (1Y)Largest decline over 1 year | -37.42% | -38.60% | +1.18% |
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 DrawdownCurrent decline from peak | -36.14% | -28.51% | -7.63% |
Average DrawdownAverage peak-to-trough decline | -26.48% | -9.24% | -17.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.60% | 15.47% | +2.13% |
Volatility
SPPP vs. SLVR - Volatility Comparison
The current volatility for Sprott Physical Platinum and Palladium Trust (SPPP) is 10.71%, while Sprott Silver Miners & Physical Silver ETF (SLVR) has a volatility of 19.31%. This indicates that SPPP experiences smaller price fluctuations and is considered to be less risky than SLVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPP | SLVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.71% | 19.31% | -8.60% |
Volatility (6M)Calculated over the trailing 6-month period | 45.53% | 51.02% | -5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.97% | 61.64% | -10.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.89% | 57.85% | -22.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.10% | 57.85% | -24.75% |
SPPP vs. SLVR - Expense Ratio Comparison
SPPP has a 1.02% expense ratio, which is higher than SLVR's 0.65% expense ratio.
Dividends
SPPP vs. SLVR - Dividend Comparison
SPPP has not paid dividends to shareholders, while SLVR's dividend yield for the trailing twelve months is around 3.45%.
| Position | TTM | 2025 |
|---|---|---|
SLVR Sprott Silver Miners & Physical Silver ETF | 3.45% | 3.68% |
SPPP Sprott Physical Platinum and Palladium Trust | 0.00% | 0.00% |
Frequently Asked Questions
SPPP and SLVR have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLVR has higher volatility (19.31%) compared to SPPP (10.71%). In terms of maximum drawdown, SPPP dropped -59.09% vs SLVR's -38.60%.
On 1-year performance, SLVR leads with 118.11% vs 39.19% for SPPP. On fees, SLVR 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 1-year period, SLVR has performed better with a 118.11% return vs 39.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVR is cheaper with a 0.65% expense ratio, compared with 1.02% for SPPP.
SLVR has the higher dividend yield at 3.45%, compared with 0.00% for SPPP.
SPPP is categorized as Precious Metals, while SLVR is Silver. Their fees differ too: 1.02% for SPPP and 0.65% for SLVR.
SLVR currently has the higher Sharpe Ratio (1.93 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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