PSCM vs. SGDM

Last updated Jun 4, 2026

PSCM (Invesco S&P SmallCap Materials ETF) and SGDM (Sprott Gold Miners ETF) are both Materials funds - PSCM tracks the S&P Small Cap 600 / Materials -SEC while SGDM tracks the Solactive Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, PSCM returned 12.90%/yr vs 12.63%/yr for SGDM. At a 0.19 correlation, their price movements are largely independent. PSCM charges 0.29%/yr vs 0.50%/yr for SGDM.

Performance

PSCM vs. SGDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Materials ETF (PSCM) and Sprott Gold Miners ETF (SGDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSCM achieves a 26.28% return, which is significantly higher than SGDM's 1.41% return. Both investments have delivered pretty close results over the past 10 years, with PSCM having a 12.90% annualized return and SGDM not far behind at 12.63%.

PSCM

• 1D: -1.52%
• 1M: -0.62%
• YTD: 26.28%
• 6M: 30.79%
• 1Y: 62.19%
• 3Y*: 18.02%
• 5Y*: 10.07%
• 10Y*: 12.90%

SGDM

• 1D: -2.86%
• 1M: 0.94%
• YTD: 1.41%
• 6M: 8.11%
• 1Y: 56.96%
• 3Y*: 38.97%
• 5Y*: 18.63%
• 10Y*: 12.63%

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

PSCM vs. SGDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSCM Invesco S&P SmallCap Materials ETF	26.28%	15.59%	0.67%	19.86%	-6.45%	18.02%	22.18%	21.75%	-23.28%	10.37%
SGDM Sprott Gold Miners ETF	1.41%	153.46%	12.14%	2.34%	-8.23%	-9.15%	21.85%	44.27%	-15.14%	10.46%

Correlation

The correlation between PSCM and SGDM is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jul 16, 2014	0.19

The correlation between PSCM and SGDM shifts across timeframes, from 0.18 (10 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.

PSCM vs. SGDM - Sectors Allocation Comparison

Sectors	PSCM	SGDM
Basic Materials	91.2%	100.0%
Energy	7.0%	-
Consumer Cyclical	1.8%	-
Financial Services	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PSCM vs. SGDM — Risk / Return Rank

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

PSCM

PSCM Risk / Return Rank: 78
PSCM Sharpe Ratio Rank: 80
PSCM Sortino Ratio Rank: 79
PSCM Omega Ratio Rank: 66
PSCM Calmar Ratio Rank: 83
PSCM Martin Ratio Rank: 82

SGDM

SGDM Risk / Return Rank: 34
SGDM Sharpe Ratio Rank: 35
SGDM Sortino Ratio Rank: 30
SGDM Omega Ratio Rank: 35
SGDM Calmar Ratio Rank: 38
SGDM Martin Ratio Rank: 32

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.

PSCM vs. SGDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Materials ETF (PSCM) and Sprott Gold Miners ETF (SGDM). 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.

	PSCM	SGDM	Difference
Sharpe ratio: Return per unit of total volatility	2.61	1.28	+1.33
Sortino ratio: Return per unit of downside risk	3.55	1.67	+1.87
Omega ratio: Gain probability vs. loss probability	1.40	1.24	+0.17
Calmar ratio: Return relative to maximum drawdown	4.36	1.91	+2.46
Martin ratio: Return relative to average drawdown	16.51	4.83	+11.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSCM vs. SGDM - Sharpe Ratio Comparison

The current PSCM Sharpe Ratio is 2.61, which is higher than the SGDM Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of PSCM and SGDM, 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

	PSCM	SGDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	1.28	+1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.52	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.34	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.26	+0.13

Drawdowns

PSCM vs. SGDM - Drawdown Comparison

The maximum PSCM drawdown since its inception was -51.34%, smaller than the maximum SGDM drawdown of -54.95%. Use the drawdown chart below to compare losses from any high point for PSCM and SGDM.

Drawdown Indicators

	PSCM	SGDM	Difference
Max Drawdown Largest peak-to-trough decline	-51.34%	-54.95%	+3.61%
Max Drawdown (1Y) Largest decline over 1 year	-14.33%	-30.04%	+15.71%
Max Drawdown (3Y) Largest decline over 3 years	-35.36%	-30.04%	-5.32%
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	-45.06%	+9.70%
Max Drawdown (10Y) Largest decline over 10 years	-51.34%	-49.69%	-1.65%
Current Drawdown Current decline from peak	-2.73%	-25.93%	+23.20%
Average Drawdown Average peak-to-trough decline	-10.90%	-25.46%	+14.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	11.83%	-8.05%

Volatility

PSCM vs. SGDM - Volatility Comparison

The current volatility for Invesco S&P SmallCap Materials ETF (PSCM) is 7.72%, while Sprott Gold Miners ETF (SGDM) has a volatility of 14.45%. This indicates that PSCM experiences smaller price fluctuations and is considered to be less risky than SGDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCM	SGDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.72%	14.45%	-6.73%
Volatility (6M) Calculated over the trailing 6-month period	16.84%	36.91%	-20.07%
Volatility (1Y) Calculated over the trailing 1-year period	24.03%	44.84%	-20.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.74%	35.78%	-10.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.91%	36.81%	-9.90%

PSCM vs. SGDM - Expense Ratio Comparison

PSCM has a 0.29% expense ratio, which is lower than SGDM's 0.50% expense ratio.

Dividends

PSCM vs. SGDM - Dividend Comparison

PSCM's dividend yield for the trailing twelve months is around 1.02%, which matches SGDM's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSCM Invesco S&P SmallCap Materials ETF	1.02%	1.17%	0.80%	0.81%	0.93%	0.67%	1.56%	1.14%	1.25%	0.61%	0.76%	1.33%
SGDM Sprott Gold Miners ETF	1.03%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%

Frequently Asked Questions

Can I hold both PSCM and SGDM in my portfolio?

PSCM and SGDM have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCM or SGDM?

SGDM has higher volatility (14.45%) compared to PSCM (7.72%). In terms of maximum drawdown, PSCM dropped -51.34% vs SGDM's -54.95%.

Which ETF is better, PSCM or SGDM?

On 10-year performance, PSCM leads with 12.90% vs 12.63% for SGDM. On fees, PSCM is cheaper at 0.29% per year. On volatility, PSCM has been the lower-risk option at 7.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCM or SGDM?

Over the 10-year period, PSCM has performed better with a 12.90% return vs 12.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCM or SGDM?

PSCM is cheaper with a 0.29% expense ratio, compared with 0.50% for SGDM.

Which ETF pays a higher dividend yield, PSCM or SGDM?

PSCM and SGDM have nearly identical dividend yields, around 1.02%.

What is the main difference between PSCM and SGDM?

PSCM tracks S&P Small Cap 600 / Materials -SEC, while SGDM tracks Solactive Gold Miners Custom Factors Index. They also come from different issuers: Invesco and Sprott. Their fees differ too: 0.29% for PSCM and 0.50% for SGDM.

Which has better risk-adjusted returns?

PSCM currently has the higher Sharpe Ratio (2.61 vs 1.28), 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.