In 2026, the Sprott Physical Platinum and Palladium Trust (SPPP) has emerged as the worst-performing closed-end fund (CEF) on the market, reporting a significant decline in both market price and total net asset value (NAV). As of now, SPPP has dropped sharply, reflecting a broader trend of declining investor interest in precious metals following a strong surge in 2025. SPPP’s assets include physical platinum and palladium, leading to a year-to-date NAV decline that illustrates a troubling investment landscape.
Another notable laggard, the Sprott Physical Silver Trust (PSLV), has seen a 19.3% year-to-date NAV decline, failing to provide returns in line with the performance of physical silver. Both SPPP and PSLV do not pay dividends, compounding investors’ losses as they lack an income stream during this downturn. A third poorly performing CEF, Oxford Lane Capital Corp. (OXLC), has suffered a staggering 42.3% decline in market price this year, driven by challenges in its portfolio of collateralized loan obligations.
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