METL vs. IDEF

Last updated Jun 3, 2026

METL (Sprott Active Metals & Miners ETF) and IDEF (iShares Defense Industrials Active ETF) are both exchange-traded funds - METL is a Commodity Producers Equities fund actively managed by Sprott, while IDEF is a Aerospace & Defense fund actively managed by iShares. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. METL charges 0.89%/yr vs 0.55%/yr for IDEF.

Performance

METL vs. IDEF - Performance Comparison

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

Returns By Period

In the year-to-date period, METL achieves a 23.02% return, which is significantly higher than IDEF's 7.47% return.

METL

• 1D: 2.94%
• 1M: 7.78%
• YTD: 23.02%
• 6M: 33.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IDEF

• 1D: -0.75%
• 1M: -0.72%
• YTD: 7.47%
• 6M: 13.45%
• 1Y: 26.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

METL vs. IDEF - Yearly Performance Comparison

	2026 (YTD)	2025
METL Sprott Active Metals & Miners ETF	23.02%	27.04%
IDEF iShares Defense Industrials Active ETF	7.47%	3.86%

Correlation

The correlation between METL and IDEF is 0.60, 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	0.60

Return for Risk

METL vs. IDEF — Risk / Return Rank

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

IDEF

IDEF Risk / Return Rank: 35
IDEF Sharpe Ratio Rank: 35
IDEF Sortino Ratio Rank: 35
IDEF Omega Ratio Rank: 33
IDEF Calmar Ratio Rank: 38
IDEF Martin Ratio Rank: 33

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. IDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Active Metals & Miners ETF (METL) and iShares Defense Industrials Active ETF (IDEF). 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	IDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.96	1.50	+0.46

Drawdowns

METL vs. IDEF - Drawdown Comparison

The maximum METL drawdown since its inception was -27.39%, which is greater than IDEF's maximum drawdown of -14.63%. Use the drawdown chart below to compare losses from any high point for METL and IDEF.

Drawdown Indicators

	METL	IDEF	Difference
Max Drawdown Largest peak-to-trough decline	-27.39%	-14.63%	-12.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.63%	—
Current Drawdown Current decline from peak	-6.72%	-10.02%	+3.30%
Average Drawdown Average peak-to-trough decline	-8.10%	-3.87%	-4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.56%	—

Volatility

Volatility by Period

	METL	IDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	43.80%	21.00%	+22.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.80%	20.94%	+22.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.80%	20.94%	+22.86%

METL vs. IDEF - Expense Ratio Comparison

METL has a 0.89% expense ratio, which is higher than IDEF's 0.55% expense ratio.

Dividends

METL vs. IDEF - Dividend Comparison

METL's dividend yield for the trailing twelve months is around 0.81%, more than IDEF's 0.16% yield.

Position	TTM	2025
IDEF iShares Defense Industrials Active ETF	0.16%	0.17%
METL Sprott Active Metals & Miners ETF	0.81%	0.99%

Frequently Asked Questions

Can I hold both METL and IDEF in my portfolio?

METL and IDEF have a correlation of 0.60, 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 IDEF?

On fees, IDEF is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, METL or IDEF?

IDEF is cheaper with a 0.55% expense ratio, compared with 0.89% for METL.

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

METL has the higher dividend yield at 0.81%, compared with 0.16% for IDEF.

What is the main difference between METL and IDEF?

METL is categorized as Commodity Producers Equities, while IDEF is Aerospace & Defense. They also come from different issuers: Sprott and iShares. Their fees differ too: 0.89% for METL and 0.55% for IDEF.