abrdn Physical Platinum Shares ETF

PPLT

Market cap $2.69B

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.

PPLT has delivered a much higher one-year return than AAAU but with a steeper five-year drawdown. AAAU is notably less expensive to hold, with a lower expense ratio.

SLV delivered a notably higher one-year return than PPLT but with a steeper five-year drawdown. PPLT exhibits lower volatility and beta, suggesting less sensitivity to broad equity swings.

SIVR has a lower expense ratio and larger assets under management than PPLT. PPLT's five-year drawdown was milder, but SIVR delivered stronger five-year growth of $1,000.

SLVP posted a higher one-year return and deeper drawdown than PPLT. PPLT tracks the price of platinum directly, while SLVP holds a basket of global silver and base metals miners.