What this ETF is trying to do

The Sprott Physical Platinum and Palladium Trust (SPPP) is an ETF that focuses on physical precious metals, specifically platinum and palladium. Instead of betting on companies, this trust holds the actual metals.

What the numbers show

As of October 5, 2026, the share price is $13.38.

Performance is measured in two ways: price return (how the share price changed) and total return (which includes the price change plus any distributions). For this ETF, these numbers are the same because it does not pay out distributions.

• Year-to-Date (YTD): The price return and total return are both -20.55%.

• One Year: The price return and total return are both -2.90%.

• Three Year: The price return and total return are both 32.48%.

• Five Year: The total return is -6.82%.

To put the one-year change in perspective, if you had invested $10,000 in this ETF roughly one year ago at the estimated price of $13.78, your investment would be worth approximately $9,710 based on the price return alone.

Income and distribution explanation

Some ETFs pay investors cash regularly, known as distributions. This ETF has a distribution yield of 0% and has had no payouts in the last 12 months. It is not designed to provide a steady stream of cash income.

NAV erosion explanation

"NAV erosion" happens when the internal value of an ETF's assets drops over time, which can lead to a falling share price. Investors care about this because they want their original investment (the principal) to stay stable.

SPPP has an erosion-risk score of 94, which is labeled as "Stable / sideways." The erosion severity is listed as "good," and the severe erosion-risk flag is false. This means the screening rules did not detect a dangerous trend of value loss.

Pros

• Long-term growth: The three-year total return is positive at 32.48%.

• Stability score: The erosion-risk measurement is currently rated as "good."

Cons

• Recent decline: The ETF has seen a significant price drop so far this year (-20.55%).

• No income: There are no cash distributions for investors seeking regular income.

Beginner takeaway

SPPP is a way to own physical platinum and palladium. While it has shown growth over a three-year period, it has struggled recently in the current year. Because it pays no distributions, investors rely entirely on the share price going up to make a profit.