SPPP vs BNO

Comparison between Sprott Physical Platinum and Palladium Trust (SPPP, ETF) and United States Brent Crude Oil Fund (BNO, ETF).

5-Year PerformanceBNO has outperformed SPPP, delivering a return of +22.2% compared to -6.2%

SPPP vs BNO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPPP(ETF)	BNO(ETF)
Net Assets	$544M	$544M
Expense Ratio	N/A	1.15%
Max Drawdown	59.09%	87.06%
Sharpe Ratio	0.24	1.31
5Y Beta	0.64	-0.00

Net Assets

SPPP

$544M

Winner

BNO

$544M

Expense Ratio

SPPP

N/A

BNO

1.15%

Max Drawdown

Winner

SPPP

59.09%

BNO

87.06%

Sharpe Ratio

SPPP

0.24

Winner

BNO

1.31

5Y Beta

SPPP

0.64

Winner

BNO

-0.00

SPPP vs BNO - Historical Returns

Returns include dividend reinvestment.

Period	SPPP	BNO
1 month	+0.38%	+17.25%
3 months	-17.08%	+0.98%
6 months	-34.60%	+66.26%
1 year	+1.53%	+66.75%
5 years(CAGR)	-6.22%	+22.16%
10 years(CAGR)	+5.58%	+13.92%
Max(CAGR)	+2.17%	+4.31%

SPPP

+0.38%

Winner

BNO

+17.25%

SPPP

-17.08%

Winner

BNO

+0.98%

SPPP

-34.60%

Winner

BNO

+66.26%

SPPP

+1.53%

Winner

BNO

+66.75%

5Y(CAGR)

SPPP

-6.22%

Winner

BNO

+22.16%

10Y(CAGR)

SPPP

+5.58%

Winner

BNO

+13.92%

Max(CAGR)

SPPP

+2.17%

Winner

BNO

+4.31%

SPPP vs BNO - Annual Returns (2010 - 2026)

Returns include dividend reinvestment.

Year	SPPP	BNO
2026	-23.85%	+78.97%
2025	+87.11%	-7.57%
2024	-10.56%	+10.93%
2023	-24.98%	+0.66%
2022	+0.22%	+33.65%
2021	-21.51%	+65.43%
2020	+23.75%	-38.58%
2019	+46.09%	+34.00%
2018	+3.64%	-15.30%
2017	+29.36%	+17.61%
2016	+15.00%	+27.90%
2015	-29.03%	-44.41%
2014	-2.47%	-46.69%
2013	-12.06%	+7.52%
2012	+0.91%	+5.34%
2011	N/A	+17.93%
2010	N/A	+22.02%

SPPP vs BNO Drawdown Comparison

The maximum drawdown for SPPP was -59.09%, occurring on Feb 9, 2024. Recovery took 1180 trading sessions.

The maximum drawdown for BNO was -87.06%, occurring on Apr 28, 2020. Recovery took 2949 trading sessions.

The current SPPP drawdown is -41.32%. The current BNO drawdown is -15.92%.

Rank	SPPP	BNO
#1	-59.09% May 11, 2021 - Jan 22, 2026	-87.06% Jun 19, 2014 - Mar 12, 2026
#2	-50.42% Feb 27, 2020 - Apr 1, 2021	-34.46% May 4, 2026 - Jul 1, 2026
#3	-49.16% Feb 14, 2013 - Jan 18, 2019	-28.37% Mar 1, 2012 - Feb 13, 2013
#4	-45.66% Jan 23, 2026 - Jun 24, 2026	-19.87% Apr 8, 2011 - Feb 21, 2012
#5	-18.43% Mar 20, 2019 - Sep 3, 2019	-16.83% Apr 6, 2026 - Apr 28, 2026
#6	-9.98% Jan 22, 2020 - Feb 19, 2020	-16.52% Feb 14, 2013 - Aug 28, 2013
#7	-8.56% Nov 1, 2019 - Dec 4, 2019	-12.43% Aug 4, 2010 - Oct 1, 2010
#8	-6.79% Feb 26, 2019 - Mar 20, 2019	-9.52% Mar 20, 2026 - Mar 30, 2026
#9	-5.89% Jan 18, 2019 - Feb 12, 2019	-8.93% Jun 17, 2010 - Aug 2, 2010
#10	-5.80% Dec 16, 2019 - Dec 31, 2019	-8.65% Aug 28, 2013 - Jun 12, 2014
#11	-3.77% Feb 21, 2020 - Feb 26, 2020	-6.80% Nov 10, 2010 - Dec 2, 2010
#12	-3.52% Sep 24, 2019 - Oct 16, 2019	-6.78% Mar 30, 2026 - Apr 2, 2026
#13	-3.30% Jan 17, 2020 - Jan 22, 2020	-6.44% Mar 2, 2011 - Mar 31, 2011
#14	-3.10% Dec 31, 2012 - Jan 16, 2013	-5.03% Oct 6, 2010 - Nov 4, 2010
#15	-2.55% Sep 4, 2019 - Sep 12, 2019	-4.41% Jun 3, 2010 - Jun 10, 2010