METL vs. GLD

Last updated Jun 4, 2026

METL (Sprott Active Metals & Miners ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - METL is a Commodity Producers Equities fund actively managed by Sprott, while GLD is a Gold fund tracking the LBMA Gold Price PM. METL is actively managed, while GLD is passively managed. A 0.67 correlation means they provide meaningful diversification when combined. METL charges 0.89%/yr vs 0.40%/yr for GLD.

Performance

METL vs. GLD - Performance Comparison

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

Returns By Period

In the year-to-date period, METL achieves a 18.34% return, which is significantly higher than GLD's 2.92% return.

METL

• 1D: -3.81%
• 1M: 5.71%
• YTD: 18.34%
• 6M: 25.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLD

• 1D: -0.99%
• 1M: -1.65%
• YTD: 2.92%
• 6M: 5.43%
• 1Y: 32.04%
• 3Y*: 31.09%
• 5Y*: 18.15%
• 10Y*: 13.12%

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

METL vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025
METL Sprott Active Metals & Miners ETF	18.34%	27.04%
GLD SPDR Gold Shares	2.92%	18.21%

Correlation

The correlation between METL and GLD is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025	0.67

Return for Risk

METL vs. GLD — Risk / Return Rank

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

GLD

GLD Risk / Return Rank: 32
GLD Sharpe Ratio Rank: 32
GLD Sortino Ratio Rank: 29
GLD Omega Ratio Rank: 35
GLD Calmar Ratio Rank: 33
GLD Martin Ratio Rank: 28

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.

METL vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Active Metals & Miners ETF (METL) and SPDR Gold Shares (GLD). 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.

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

Sharpe Ratios by Period

	METL	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.21	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.72	0.60	+1.12

Drawdowns

METL vs. GLD - Drawdown Comparison

The maximum METL drawdown since its inception was -27.39%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for METL and GLD.

Drawdown Indicators

	METL	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-27.39%	-45.56%	+18.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.21%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.00%	—
Current Drawdown Current decline from peak	-10.27%	-17.75%	+7.48%
Average Drawdown Average peak-to-trough decline	-8.11%	-16.16%	+8.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.73%	—

Volatility

Volatility by Period

	METL	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	43.94%	26.61%	+17.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.94%	18.00%	+25.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.94%	15.95%	+27.99%

METL vs. GLD - Expense Ratio Comparison

METL has a 0.89% expense ratio, which is higher than GLD's 0.40% expense ratio.

Dividends

METL vs. GLD - Dividend Comparison

METL's dividend yield for the trailing twelve months is around 0.84%, while GLD has not paid dividends to shareholders.

Position	TTM	2025
GLD SPDR Gold Shares	0.00%	0.00%
METL Sprott Active Metals & Miners ETF	0.84%	0.99%

Frequently Asked Questions

Can I hold both METL and GLD in my portfolio?

METL and GLD have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, METL or GLD?

On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, METL or GLD?

GLD is cheaper with a 0.40% expense ratio, compared with 0.89% for METL.

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

METL has the higher dividend yield at 0.84%, compared with 0.00% for GLD.

What is the main difference between METL and GLD?

METL is categorized as Commodity Producers Equities, while GLD is Gold. They also come from different issuers: Sprott and State Street. Their fees differ too: 0.89% for METL and 0.40% for GLD.