MTA vs. PHYS

Last updated Jul 11, 2026

MTA (Metalla Royalty & Streaming Ltd.) and PHYS (Sprott Physical Gold Trust) are both stocks. MTA operates in Other Precious Metals & Mining (Basic Materials), while PHYS operates in Asset Management (Financial Services). Over the past 5 years, MTA returned -3.46%/yr vs 16.76%/yr for PHYS. At a 0.47 correlation, their price movements are largely independent.

Performance

MTA vs. PHYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metalla Royalty & Streaming Ltd. (MTA) and Sprott Physical Gold Trust (PHYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MTA achieves a -8.23% return, which is significantly lower than PHYS's -6.15% return.

MTA

• 1D: 1.85%
• 1M: -2.33%
• 6M: -12.29%
• YTD: -8.23%
• 1Y: 72.05%
• 3Y*: 17.53%
• 5Y*: -3.46%
• 10Y*: —

PHYS

• 1D: -0.29%
• 1M: -2.39%
• 6M: -9.94%
• YTD: -6.15%
• 1Y: 20.58%
• 3Y*: 27.28%
• 5Y*: 16.76%
• 10Y*: 10.91%

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

MTA vs. PHYS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MTA Metalla Royalty & Streaming Ltd.	-8.23%	209.96%	-18.51%	-36.95%	-29.15%	-44.82%	133.14%	122.65%	20.19%	8.30%
PHYS Sprott Physical Gold Trust	-6.15%	63.95%	26.43%	12.98%	-1.81%	-4.84%	23.89%	18.14%	-2.64%	0.76%

Correlation

The correlation between MTA and PHYS is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017	0.47

The correlation between MTA and PHYS has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.

Fundamentals

Market Cap MTA : $667.18M PHYS : $14.77B
EPS MTA : -$0.04 PHYS : $11.83
PS Ratio MTA : 45.82 PHYS : 13.90
PB Ratio MTA : 2.69 PHYS : 0.86
Total Revenue (TTM) MTA : $14.70M PHYS : $1.06B
Gross Profit (TTM) MTA : $12.51M PHYS : $3.03B
EBITDA (TTM) MTA : $3.72M PHYS : $5.61B

Return for Risk

MTA vs. PHYS — Risk / Return Rank

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

MTA

MTA Risk / Return Rank: 81
MTA Sharpe Ratio Rank: 85
MTA Sortino Ratio Rank: 79
MTA Omega Ratio Rank: 78
MTA Calmar Ratio Rank: 82
MTA Martin Ratio Rank: 82

PHYS

PHYS Risk / Return Rank: 65
PHYS Sharpe Ratio Rank: 70
PHYS Sortino Ratio Rank: 62
PHYS Omega Ratio Rank: 65
PHYS Calmar Ratio Rank: 63
PHYS Martin Ratio Rank: 65

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.

MTA vs. PHYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metalla Royalty & Streaming Ltd. (MTA) and Sprott Physical Gold Trust (PHYS). 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.

	MTA	PHYS	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.77	+0.69
Sortino ratio: Return per unit of downside risk	1.96	1.11	+0.85
Omega ratio: Gain probability vs. loss probability	1.25	1.16	+0.09
Calmar ratio: Return relative to maximum drawdown	2.40	0.82	+1.58
Martin ratio: Return relative to average drawdown	5.76	2.05	+3.72

MTA vs. PHYS - Sharpe Ratio Comparison

The current MTA Sharpe Ratio is 1.46, which is higher than the PHYS Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of MTA and PHYS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MTA vs. PHYS - Drawdown Comparison

The maximum MTA drawdown since its inception was -81.73%, which is greater than PHYS's maximum drawdown of -48.16%. Use the drawdown chart below to compare losses from any high point for MTA and PHYS.

Drawdown Indicators

	MTA	PHYS	Difference
Max Drawdown Largest peak-to-trough decline	-81.73%	-48.16%	-33.57%
Max Drawdown (1Y) Largest decline over 1 year	-33.04%	-26.75%	-6.29%
Max Drawdown (3Y) Largest decline over 3 years	-49.75%	-26.75%	-23.00%
Max Drawdown (5Y) Largest decline over 5 years	-71.61%	-26.75%	-44.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.75%	—
Current Drawdown Current decline from peak	-45.43%	-24.29%	-21.14%
Average Drawdown Average peak-to-trough decline	-41.41%	-21.01%	-20.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.75%	10.72%	+3.03%

Volatility

MTA vs. PHYS - Volatility Comparison

Metalla Royalty & Streaming Ltd. (MTA) has a higher volatility of 18.60% compared to Sprott Physical Gold Trust (PHYS) at 8.37%. This indicates that MTA's price experiences larger fluctuations and is considered to be riskier than PHYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTA	PHYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.60%	8.37%	+10.23%
Volatility (6M) Calculated over the trailing 6-month period	41.56%	24.71%	+16.85%
Volatility (1Y) Calculated over the trailing 1-year period	54.51%	28.59%	+25.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.82%	18.67%	+35.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.19%	16.40%	+40.79%

Dividends

MTA vs. PHYS - Dividend Comparison

Neither MTA nor PHYS has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MTA Metalla Royalty & Streaming Ltd.	0.00%	0.00%	0.00%	0.75%	0.00%	0.00%	0.10%	0.75%	2.16%
PHYS Sprott Physical Gold Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both MTA and PHYS in my portfolio?

MTA and PHYS have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MTA or PHYS?

MTA has higher volatility (18.60%) compared to PHYS (8.37%). In terms of maximum drawdown, MTA dropped -81.73% vs PHYS's -48.16%.

Which has better risk-adjusted returns?

MTA currently has the higher Sharpe Ratio (1.46 vs 0.77), 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.