GBUG vs. PAAS
GBUG (Sprott Active Gold & Silver Miners ETF) is Gold fund actively managed by Sprott, while PAAS (Pan American Silver Corp.) is a stock. Over the past year, GBUG returned 55.70% vs 59.00% for PAAS. Their correlation of 0.89 suggests significant overlap in exposure.
Performance
GBUG vs. PAAS - Performance Comparison
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Returns By Period
In the year-to-date period, GBUG achieves a -11.69% return, which is significantly higher than PAAS's -12.65% return.
GBUG
- 1D
- 2.23%
- 1M
- -13.12%
- YTD
- -11.69%
- 6M
- -14.96%
- 1Y
- 55.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAAS
- 1D
- 1.35%
- 1M
- -18.72%
- YTD
- -12.65%
- 6M
- -15.93%
- 1Y
- 59.00%
- 3Y*
- 48.18%
- 5Y*
- 11.93%
- 10Y*
- 13.31%
GBUG vs. PAAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GBUG Sprott Active Gold & Silver Miners ETF | -11.69% | 122.37% |
PAAS Pan American Silver Corp. | -12.65% | 116.50% |
Correlation
The correlation between GBUG and PAAS is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.89 |
The correlation between GBUG and PAAS has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.
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Return for Risk
GBUG vs. PAAS — Risk / Return Rank
GBUG
PAAS
GBUG vs. PAAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Active Gold & Silver Miners ETF (GBUG) and Pan American Silver Corp. (PAAS). 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 | PAAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.68 | -0.16 |
| Martin ratioReturn relative to average drawdown | 3.89 | 4.33 | -0.44 |
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Drawdowns
GBUG vs. PAAS - Drawdown Comparison
The maximum GBUG drawdown since its inception was -36.90%, smaller than the maximum PAAS drawdown of -85.10%. Use the drawdown chart below to compare losses from any high point for GBUG and PAAS.
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Drawdown Indicators
| GBUG | PAAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.90% | -85.10% | +48.20% |
Max Drawdown (1Y)Largest decline over 1 year | -36.90% | -35.33% | -1.57% |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.33% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.74% | — |
Current DrawdownCurrent decline from peak | -33.68% | -34.13% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -41.62% | +33.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.37% | 13.67% | +0.70% |
Volatility
GBUG vs. PAAS - Volatility Comparison
Sprott Active Gold & Silver Miners ETF (GBUG) and Pan American Silver Corp. (PAAS) have volatilities of 19.23% and 18.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBUG | PAAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.23% | 18.69% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 42.45% | 45.29% | -2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.44% | 56.06% | -5.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.64% | 48.13% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.64% | 49.68% | -1.04% |
Dividends
GBUG vs. PAAS - Dividend Comparison
GBUG's dividend yield for the trailing twelve months is around 1.76%, more than PAAS's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBUG Sprott Active Gold & Silver Miners ETF | 1.76% | 1.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PAAS Pan American Silver Corp. | 1.38% | 0.89% | 1.98% | 2.45% | 2.75% | 1.36% | 0.64% | 0.59% | 0.96% | 0.64% | 0.33% | 4.23% |
Frequently Asked Questions
GBUG and PAAS have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBUG has higher volatility (19.23%) compared to PAAS (18.69%). In terms of maximum drawdown, GBUG dropped -36.90% vs PAAS's -85.10%.
GBUG currently has the higher Sharpe Ratio (1.11 vs 1.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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