PICK vs. CEF

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Global Select Metals & Mining Producers ETF (PICK) and Sprott Physical Gold and Silver Trust (CEF).

PICK is a passively managed fund by iShares that tracks the performance of the MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index. It was launched on Jan 31, 2012. CEF is an actively managed fund by Sprott. It was launched on Jan 16, 2018.

Performance

PICK vs. CEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Select Metals & Mining Producers ETF (PICK) and Sprott Physical Gold and Silver Trust (CEF). The values are adjusted to include any dividend payments, if applicable.

PICK vs. CEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PICK iShares MSCI Global Select Metals & Mining Producers ETF	10.23%	51.89%	-16.37%	9.69%	2.54%	22.61%	27.46%	16.47%	-18.65%	38.42%
CEF Sprott Physical Gold and Silver Trust	4.19%	92.76%	24.07%	6.80%	1.07%	-8.32%	31.99%	16.91%	-6.34%	18.78%

Returns By Period

In the year-to-date period, PICK achieves a 10.23% return, which is significantly higher than CEF's 4.19% return. Over the past 10 years, PICK has outperformed CEF with an annualized return of 15.98%, while CEF has yielded a comparatively lower 15.03% annualized return.

PICK

• 1D: 4.93%
• 1M: -12.05%
• YTD: 10.23%
• 6M: 29.18%
• 1Y: 63.27%
• 3Y*: 13.81%
• 5Y*: 10.83%
• 10Y*: 15.98%

CEF

• 1D: 5.58%
• 1M: -15.38%
• YTD: 4.19%
• 6M: 30.06%
• 1Y: 67.97%
• 3Y*: 36.15%
• 5Y*: 21.95%
• 10Y*: 15.03%

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

PICK vs. CEF - Expense Ratio Comparison

PICK has a 0.39% expense ratio, which is lower than CEF's 0.48% expense ratio.

CEF

Sprott Physical Gold and Silver Trust

PICK

iShares MSCI Global Select Metals & Mining Producers ETF

Return for Risk

PICK vs. CEF — Risk / Return Rank

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

PICK

PICK Risk / Return Rank: 92
PICK Sharpe Ratio Rank: 94
PICK Sortino Ratio Rank: 92
PICK Omega Ratio Rank: 92
PICK Calmar Ratio Rank: 91
PICK Martin Ratio Rank: 92

CEF

CEF Risk / Return Rank: 87
CEF Sharpe Ratio Rank: 90
CEF Sortino Ratio Rank: 83
CEF Omega Ratio Rank: 84
CEF Calmar Ratio Rank: 91
CEF Martin Ratio Rank: 89

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.

PICK vs. CEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Select Metals & Mining Producers ETF (PICK) and Sprott Physical Gold and Silver Trust (CEF). 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.

	PICK	CEF	Difference
Sharpe ratio Return per unit of total volatility	2.18	1.83	+0.35
Sortino ratio Return per unit of downside risk	2.68	2.12	+0.57
Omega ratio Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio Return relative to maximum drawdown	3.12	2.61	+0.50
Martin ratio Return relative to average drawdown	12.51	9.68	+2.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PICK vs. CEF - Sharpe Ratio Comparison

The current PICK Sharpe Ratio is 2.18, which is comparable to the CEF Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of PICK and CEF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PICK	CEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.83	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.93	-0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.70	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.23	-0.06

Correlation

The correlation between PICK and CEF is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PICK vs. CEF - Dividend Comparison

PICK's dividend yield for the trailing twelve months is around 2.61%, while CEF has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PICK iShares MSCI Global Select Metals & Mining Producers ETF	2.61%	2.88%	3.26%	4.19%	6.93%	5.89%	2.27%	5.51%	4.77%	2.41%	1.15%	15.77%
CEF Sprott Physical Gold and Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.07%	0.09%	0.10%

Drawdowns

PICK vs. CEF - Drawdown Comparison

The maximum PICK drawdown since its inception was -68.87%, which is greater than CEF's maximum drawdown of -62.29%. Use the drawdown chart below to compare losses from any high point for PICK and CEF.

Drawdown Indicators

	PICK	CEF	Difference
Max Drawdown Largest peak-to-trough decline	-68.87%	-62.29%	-6.58%
Max Drawdown (1Y) Largest decline over 1 year	-19.54%	-26.77%	+7.23%
Max Drawdown (5Y) Largest decline over 5 years	-36.37%	-26.77%	-9.60%
Max Drawdown (10Y) Largest decline over 10 years	-52.72%	-29.10%	-23.62%
Current Drawdown Current decline from peak	-12.15%	-19.41%	+7.26%
Average Drawdown Average peak-to-trough decline	-24.37%	-27.38%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	7.23%	-2.36%

Volatility

PICK vs. CEF - Volatility Comparison

The current volatility for iShares MSCI Global Select Metals & Mining Producers ETF (PICK) is 13.01%, while Sprott Physical Gold and Silver Trust (CEF) has a volatility of 14.73%. This indicates that PICK experiences smaller price fluctuations and is considered to be less risky than CEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PICK	CEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.01%	14.73%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	21.97%	35.36%	-13.39%
Volatility (1Y) Calculated over the trailing 1-year period	29.27%	37.38%	-8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.51%	23.78%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.47%	21.58%	+6.89%