NIKL vs. GOVZ

Last updated Jun 3, 2026

NIKL (Sprott Nickel Miners ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both exchange-traded funds - NIKL is a Energy Equities fund tracking the Nasdaq Sprott Nickel Miners Index - Benchmark TR Gross, while GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past 3 years, NIKL returned -0.51%/yr vs -7.43%/yr for GOVZ. At a 0.11 correlation, their price movements are largely independent. NIKL charges 0.75%/yr vs 0.15%/yr for GOVZ.

Performance

NIKL vs. GOVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Nickel Miners ETF (NIKL) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIKL achieves a 0.32% return, which is significantly higher than GOVZ's -0.94% return.

NIKL

• 1D: 2.14%
• 1M: -9.18%
• YTD: 0.32%
• 6M: 17.17%
• 1Y: 44.39%
• 3Y*: -0.51%
• 5Y*: —
• 10Y*: —

GOVZ

• 1D: -0.50%
• 1M: 1.73%
• YTD: -0.94%
• 6M: -4.35%
• 1Y: 3.91%
• 3Y*: -7.43%
• 5Y*: -11.53%
• 10Y*: —

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

NIKL vs. GOVZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NIKL Sprott Nickel Miners ETF	0.32%	52.05%	-22.48%	-17.88%
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	-0.94%	-1.81%	-16.24%	-8.07%

Correlation

The correlation between NIKL and GOVZ is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (All Time) Calculated using the full available price history since Mar 23, 2023	0.11

Return for Risk

NIKL vs. GOVZ — Risk / Return Rank

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

NIKL

NIKL Risk / Return Rank: 30
NIKL Sharpe Ratio Rank: 30
NIKL Sortino Ratio Rank: 31
NIKL Omega Ratio Rank: 29
NIKL Calmar Ratio Rank: 34
NIKL Martin Ratio Rank: 28

GOVZ

GOVZ Risk / Return Rank: 12
GOVZ Sharpe Ratio Rank: 12
GOVZ Sortino Ratio Rank: 12
GOVZ Omega Ratio Rank: 11
GOVZ Calmar Ratio Rank: 12
GOVZ Martin Ratio Rank: 12

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.

NIKL vs. GOVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Nickel Miners ETF (NIKL) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.

	NIKL	GOVZ	Difference
Sharpe ratio Return per unit of total volatility	1.08	0.24	+0.84
Sortino ratio Return per unit of downside risk	1.67	0.47	+1.20
Omega ratio Gain probability vs. loss probability	1.20	1.05	+0.15
Calmar ratio Return relative to maximum drawdown	1.68	0.28	+1.40
Martin ratio Return relative to average drawdown	4.06	0.63	+3.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NIKL vs. GOVZ - Sharpe Ratio Comparison

The current NIKL Sharpe Ratio is 1.08, which is higher than the GOVZ Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of NIKL and GOVZ, 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

	NIKL	GOVZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	0.24	+0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	-0.58	+0.56

Drawdowns

NIKL vs. GOVZ - Drawdown Comparison

The maximum NIKL drawdown since its inception was -60.23%, roughly equal to the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for NIKL and GOVZ.

Drawdown Indicators

	NIKL	GOVZ	Difference
Max Drawdown Largest peak-to-trough decline	-60.23%	-59.65%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-29.33%	-14.16%	-15.17%
Max Drawdown (3Y) Largest decline over 3 years	-60.23%	-28.72%	-31.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-57.63%	—
Current Drawdown Current decline from peak	-23.36%	-56.47%	+33.11%
Average Drawdown Average peak-to-trough decline	-26.58%	-39.91%	+13.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.14%	6.21%	+5.93%

Volatility

NIKL vs. GOVZ - Volatility Comparison

Sprott Nickel Miners ETF (NIKL) has a higher volatility of 12.93% compared to iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) at 4.27%. This indicates that NIKL's price experiences larger fluctuations and is considered to be riskier than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NIKL	GOVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.93%	4.27%	+8.66%
Volatility (6M) Calculated over the trailing 6-month period	34.42%	10.50%	+23.92%
Volatility (1Y) Calculated over the trailing 1-year period	41.34%	16.26%	+25.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.29%	23.93%	+8.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.29%	23.35%	+8.94%

NIKL vs. GOVZ - Expense Ratio Comparison

NIKL has a 0.75% expense ratio, which is higher than GOVZ's 0.15% expense ratio.

Dividends

NIKL vs. GOVZ - Dividend Comparison

NIKL's dividend yield for the trailing twelve months is around 2.52%, less than GOVZ's 5.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	5.18%	5.00%	4.68%	3.84%	3.69%	1.76%	0.39%
NIKL Sprott Nickel Miners ETF	2.52%	2.53%	3.49%	19.52%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NIKL and GOVZ in my portfolio?

NIKL and GOVZ have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NIKL or GOVZ?

NIKL has higher volatility (12.93%) compared to GOVZ (4.27%). In terms of maximum drawdown, NIKL dropped -60.23% vs GOVZ's -59.65%.

Which ETF is better, NIKL or GOVZ?

On 3-year performance, NIKL leads with -0.51% vs -7.43% for GOVZ. On fees, GOVZ is cheaper at 0.15% per year. On volatility, GOVZ has been the lower-risk option at 4.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NIKL or GOVZ?

Over the 3-year period, NIKL has performed better with a -0.51% return vs -7.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NIKL or GOVZ?

GOVZ is cheaper with a 0.15% expense ratio, compared with 0.75% for NIKL.

Which ETF pays a higher dividend yield, NIKL or GOVZ?

GOVZ has the higher dividend yield at 5.18%, compared with 2.52% for NIKL.

What is the main difference between NIKL and GOVZ?

NIKL is categorized as Energy Equities, while GOVZ is Government Bonds. NIKL tracks Nasdaq Sprott Nickel Miners Index - Benchmark TR Gross, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. They also come from different issuers: Sprott and iShares. Their fees differ too: 0.75% for NIKL and 0.15% for GOVZ.

Which has better risk-adjusted returns?

NIKL currently has the higher Sharpe Ratio (1.08 vs 0.24), 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.