GBUG vs. METL

Last updated Jun 23, 2026

GBUG (Sprott Active Gold & Silver Miners ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - GBUG is a Gold fund actively managed by Sprott, while METL is a Natural Resources fund actively managed by Sprott. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.89% expense ratio.

Performance

GBUG vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Active Gold & Silver Miners ETF (GBUG) and Sprott Active Metals & Miners ETF (METL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBUG achieves a -5.10% return, which is significantly lower than METL's 10.16% return.

GBUG

• 1D: -0.47%
• 1M: -2.45%
• YTD: -5.10%
• 6M: -9.63%
• 1Y: 63.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

METL

• 1D: -0.70%
• 1M: -1.07%
• YTD: 10.16%
• 6M: 8.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GBUG vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
GBUG Sprott Active Gold & Silver Miners ETF	-5.10%	35.81%
METL Sprott Active Metals & Miners ETF	10.16%	28.19%

Correlation

The correlation between GBUG and METL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.84

Return for Risk

GBUG vs. METL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GBUG

GBUG Risk / Return Rank: 35
GBUG Sharpe Ratio Rank: 37
GBUG Sortino Ratio Rank: 33
GBUG Omega Ratio Rank: 36
GBUG Calmar Ratio Rank: 36
GBUG Martin Ratio Rank: 32

METL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GBUG vs. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Active Gold & Silver Miners ETF (GBUG) and Sprott Active Metals & Miners ETF (METL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GBUG	METL	Difference
Sharpe ratio: Return per unit of total volatility	1.28	—	—
Sortino ratio: Return per unit of downside risk	1.70	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.74	—	—
Martin ratio: Return relative to average drawdown	4.61	—	—

Drawdowns

GBUG vs. METL - Drawdown Comparison

The maximum GBUG drawdown since its inception was -36.90%, which is greater than METL's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for GBUG and METL.

Drawdown Indicators

	GBUG	METL	Difference
Max Drawdown Largest peak-to-trough decline	-36.90%	-27.39%	-9.51%
Max Drawdown (1Y) Largest decline over 1 year	-36.90%	—	—
Current Drawdown Current decline from peak	-28.73%	-16.47%	-12.26%
Average Drawdown Average peak-to-trough decline	-8.39%	-8.58%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.90%	—	—

Volatility

Volatility by Period

	GBUG	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	42.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	50.10%	44.83%	+5.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.46%	44.83%	+3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.46%	44.83%	+3.63%

GBUG vs. METL - Expense Ratio Comparison

Both GBUG and METL have an expense ratio of 0.89%.

Dividends

GBUG vs. METL - Dividend Comparison

GBUG's dividend yield for the trailing twelve months is around 1.64%, more than METL's 0.90% yield.

Position	TTM	2025
GBUG Sprott Active Gold & Silver Miners ETF	1.64%	1.56%
METL Sprott Active Metals & Miners ETF	0.90%	0.99%

Frequently Asked Questions

Can I hold both GBUG and METL in my portfolio?

GBUG and METL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GBUG or METL?

Both ETFs have the same 0.89% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GBUG or METL?

GBUG and METL have the same expense ratio: 0.89% per year.

Which ETF pays a higher dividend yield, GBUG or METL?

GBUG has the higher dividend yield at 1.64%, compared with 0.90% for METL.

What is the main difference between GBUG and METL?

GBUG is categorized as Gold, while METL is Natural Resources.