abrdn Physical Platinum Shares ETF

PPLT

Market cap $237M

Income investors typically screen for yield, yet abrdn Platinum ETF Trust (NYSEARCA:PPLT) keeps showing up in their watchlists despite paying zero dividend.

Despite renewed momentum at the start of the month, the platinum market continues to struggle within its broader range, with prices at the start of London's historic platinum week back below $2,000 an ounce.

Aberdeen Standard Physical Platinum Shares ETF delivered over 100% total return in the past year as platinum caught up with gold and silver. Following a strong run, we are downgrading PPLT to 'Hold,' as its price no longer offers an attractive entry point. Platinum's correlation with gold and silver has normalized; future performance will hinge on inflation and interest rate dynamics, not undervaluation.

PHILADELPHIA, April 22, 2026 /PRNewswire/ -- Aberdeen Investments announced today a 10-for-1 forward share split for the abrdn Physical Platinum Shares ETF (NYSE Arca: PPLT) and a 5-for-1 forward share split for the abrdn Physical Palladium Shares ETF (NYSE Arca: PALL). The splits will not change the total value of a shareholder's investment.

The abrdn Physical Platinum Shares ETF is rated a buy, supported by platinum's breakout and ongoing bullish trend since late 2025. PPLT closely tracks platinum prices, rising 129.4% from Q2 2025 to March 2026, with minor tracking differences due to market hours and a 0.60% fee. Platinum's scarcity—annual supply is 16 times less than gold—and widening discount to gold underpin a strong relative value thesis.

The global platinum market is expected to remain in deficit for a fourth consecutive year in 2026, although the shortfall will narrow significantly from the historic levels seen last year, according to the World Platinum Investment Council's latest Platinum Quarterly.

SIL saw a much stronger one-year return and deeper drawdown than PPLT, with both funds highly volatile. PPLT is slightly less expensive to own and shows a lower beta versus the S&P 500.

The abrdn Platinum ETF Trust (NYSEARCA:PPLT) has surged 185% over the past year, transforming platinum from an overlooked industrial metal into a standout commodity performer.

GDX and PPLT both posted triple-digit one-year returns, but they diverge sharply in terms of precious metal exposure and risk profile. PPLT offers no dividends, while GDX pays an annual dividend.

PPLT carries a higher expense ratio and is much smaller in assets under management than GLD. Over the past year, PPLT's total return more than doubled GLD's, but with a much steeper five-year drawdown.