GBUG vs. SGOL

Last updated Jun 6, 2026

GBUG (Sprott Active Gold & Silver Miners ETF) and SGOL (abrdn Physical Gold Shares ETF) are both Gold funds. GBUG is actively managed, while SGOL is passively managed. Over the past year, GBUG returned 46.03% vs 28.42% for SGOL. A 0.78 correlation means they provide meaningful diversification when combined. GBUG charges 0.89%/yr vs 0.17%/yr for SGOL.

Performance

GBUG vs. SGOL - Performance Comparison

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

Returns By Period

In the year-to-date period, GBUG achieves a -11.03% return, which is significantly lower than SGOL's 0.10% return.

GBUG

• 1D: -9.73%
• 1M: -15.35%
• YTD: -11.03%
• 6M: -2.89%
• 1Y: 46.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOL

• 1D: -3.61%
• 1M: -7.97%
• YTD: 0.10%
• 6M: 2.70%
• 1Y: 28.42%
• 3Y*: 29.85%
• 5Y*: 17.73%
• 10Y*: 13.00%

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

GBUG vs. SGOL - Yearly Performance Comparison

	2026 (YTD)	2025
GBUG Sprott Active Gold & Silver Miners ETF	-11.03%	119.00%
SGOL abrdn Physical Gold Shares ETF	0.10%	46.61%

Correlation

The correlation between GBUG and SGOL is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.78

The correlation between GBUG and SGOL has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

Return for Risk

GBUG vs. SGOL — Risk / Return Rank

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

GBUG

GBUG Risk / Return Rank: 28
GBUG Sharpe Ratio Rank: 28
GBUG Sortino Ratio Rank: 27
GBUG Omega Ratio Rank: 30
GBUG Calmar Ratio Rank: 30
GBUG Martin Ratio Rank: 27

SGOL

SGOL Risk / Return Rank: 30
SGOL Sharpe Ratio Rank: 31
SGOL Sortino Ratio Rank: 27
SGOL Omega Ratio Rank: 33
SGOL Calmar Ratio Rank: 30
SGOL Martin Ratio Rank: 27

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. SGOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Active Gold & Silver Miners ETF (GBUG) and abrdn Physical Gold Shares ETF (SGOL). 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.

	GBUG	SGOL	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.07	-0.12
Sortino ratio: Return per unit of downside risk	1.38	1.45	-0.07
Omega ratio: Gain probability vs. loss probability	1.19	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	1.39	1.43	-0.03
Martin ratio: Return relative to average drawdown	3.65	3.62	+0.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GBUG vs. SGOL - Sharpe Ratio Comparison

The current GBUG Sharpe Ratio is 0.95, which is comparable to the SGOL Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of GBUG and SGOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GBUG	SGOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	1.07	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.42	0.54	+0.88

Drawdowns

GBUG vs. SGOL - Drawdown Comparison

The maximum GBUG drawdown since its inception was -33.18%, smaller than the maximum SGOL drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for GBUG and SGOL.

Drawdown Indicators

	GBUG	SGOL	Difference
Max Drawdown Largest peak-to-trough decline	-33.18%	-45.51%	+12.33%
Max Drawdown (1Y) Largest decline over 1 year	-33.18%	-20.02%	-13.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.92%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.56%	—
Current Drawdown Current decline from peak	-33.18%	-20.02%	-13.16%
Average Drawdown Average peak-to-trough decline	-7.75%	-18.41%	+10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.70%	7.88%	+4.82%

Volatility

GBUG vs. SGOL - Volatility Comparison

Sprott Active Gold & Silver Miners ETF (GBUG) has a higher volatility of 16.65% compared to abrdn Physical Gold Shares ETF (SGOL) at 5.62%. This indicates that GBUG's price experiences larger fluctuations and is considered to be riskier than SGOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBUG	SGOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.65%	5.62%	+11.03%
Volatility (6M) Calculated over the trailing 6-month period	40.73%	23.24%	+17.49%
Volatility (1Y) Calculated over the trailing 1-year period	48.66%	26.58%	+22.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.05%	17.95%	+30.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.05%	15.95%	+32.10%

GBUG vs. SGOL - Expense Ratio Comparison

GBUG has a 0.89% expense ratio, which is higher than SGOL's 0.17% expense ratio.

Dividends

GBUG vs. SGOL - Dividend Comparison

GBUG's dividend yield for the trailing twelve months is around 1.75%, while SGOL has not paid dividends to shareholders.

Position	TTM	2025
GBUG Sprott Active Gold & Silver Miners ETF	1.75%	1.56%
SGOL abrdn Physical Gold Shares ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both GBUG and SGOL in my portfolio?

GBUG and SGOL have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GBUG or SGOL?

GBUG has higher volatility (16.65%) compared to SGOL (5.62%). In terms of maximum drawdown, GBUG dropped -33.18% vs SGOL's -45.51%.

Which ETF is better, GBUG or SGOL?

On 1-year performance, GBUG leads with 46.03% vs 28.42% for SGOL. On fees, SGOL is cheaper at 0.17% per year. On volatility, SGOL has been the lower-risk option at 5.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GBUG or SGOL?

Over the 1-year period, GBUG has performed better with a 46.03% return vs 28.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GBUG or SGOL?

SGOL is cheaper with a 0.17% expense ratio, compared with 0.89% for GBUG.

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

GBUG has the higher dividend yield at 1.75%, compared with 0.00% for SGOL.

What is the main difference between GBUG and SGOL?

They also come from different issuers: Sprott and abrdn. Their fees differ too: 0.89% for GBUG and 0.17% for SGOL.

Which has better risk-adjusted returns?

SGOL currently has the higher Sharpe Ratio (1.07 vs 0.95), 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.