PSLV vs. URNJ
PSLV (Sprott Physical Silver Trust) and URNJ (Sprott Junior Uranium Miners ETF) are both exchange-traded funds - PSLV is a Silver fund tracking the No Index (Physical Silver), while URNJ is a Energy Equities fund tracking the Nasdaq Sprott Junior Uranium Miners Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, PSLV returned 41.73%/yr vs 25.45%/yr for URNJ. At a 0.34 correlation, their price movements are largely independent. PSLV charges 0.51%/yr vs 0.80%/yr for URNJ.
Performance
PSLV vs. URNJ - Performance Comparison
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Returns By Period
In the year-to-date period, PSLV achieves a -1.78% return, which is significantly lower than URNJ's 12.14% return.
PSLV
- 1D
- -2.76%
- 1M
- -1.61%
- YTD
- -1.78%
- 6M
- 18.46%
- 1Y
- 100.09%
- 3Y*
- 41.73%
- 5Y*
- 18.43%
- 10Y*
- 13.97%
URNJ
- 1D
- -5.58%
- 1M
- -8.90%
- YTD
- 12.14%
- 6M
- 11.74%
- 1Y
- 63.88%
- 3Y*
- 25.45%
- 5Y*
- —
- 10Y*
- —
PSLV vs. URNJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PSLV Sprott Physical Silver Trust | -1.78% | 145.08% | 19.43% | 1.25% |
URNJ Sprott Junior Uranium Miners ETF | 12.14% | 45.35% | -18.34% | 19.92% |
Correlation
The correlation between PSLV and URNJ is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2023 | 0.34 |
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Return for Risk
PSLV vs. URNJ — Risk / Return Rank
PSLV
URNJ
PSLV vs. URNJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV) and Sprott Junior Uranium Miners ETF (URNJ). 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.
| PSLV | URNJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.20 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 1.81 | +0.67 |
| Martin ratioReturn relative to average drawdown | 5.50 | 3.67 | +1.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PSLV | URNJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.05 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.28 | -0.11 |
Drawdowns
PSLV vs. URNJ - Drawdown Comparison
The maximum PSLV drawdown since its inception was -79.38%, which is greater than URNJ's maximum drawdown of -59.21%. Use the drawdown chart below to compare losses from any high point for PSLV and URNJ.
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Drawdown Indicators
| PSLV | URNJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.38% | -59.21% | -20.17% |
Max Drawdown (1Y)Largest decline over 1 year | -40.65% | -35.54% | -5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -40.65% | -59.21% | +18.56% |
Max Drawdown (5Y)Largest decline over 5 years | -40.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.79% | — | — |
Current DrawdownCurrent decline from peak | -36.11% | -30.10% | -6.01% |
Average DrawdownAverage peak-to-trough decline | -58.15% | -21.17% | -36.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.25% | 17.47% | +0.78% |
Volatility
PSLV vs. URNJ - Volatility Comparison
The current volatility for Sprott Physical Silver Trust (PSLV) is 16.57%, while Sprott Junior Uranium Miners ETF (URNJ) has a volatility of 17.63%. This indicates that PSLV experiences smaller price fluctuations and is considered to be less risky than URNJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSLV | URNJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.57% | 17.63% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 57.35% | 45.59% | +11.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.49% | 61.42% | -2.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.64% | 53.34% | -17.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.14% | 53.34% | -22.20% |
PSLV vs. URNJ - Expense Ratio Comparison
PSLV has a 0.51% expense ratio, which is lower than URNJ's 0.80% expense ratio.
Dividends
PSLV vs. URNJ - Dividend Comparison
PSLV has not paid dividends to shareholders, while URNJ's dividend yield for the trailing twelve months is around 5.87%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PSLV Sprott Physical Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% |
URNJ Sprott Junior Uranium Miners ETF | 5.87% | 6.58% | 4.33% | 4.03% |
Frequently Asked Questions
PSLV and URNJ have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URNJ has higher volatility (17.63%) compared to PSLV (16.57%). In terms of maximum drawdown, PSLV dropped -79.38% vs URNJ's -59.21%.
On 3-year performance, PSLV leads with 41.73% vs 25.45% for URNJ. On fees, PSLV is cheaper at 0.51% per year. On volatility, PSLV has been the lower-risk option at 16.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PSLV has performed better with a 41.73% return vs 25.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSLV is cheaper with a 0.51% expense ratio, compared with 0.80% for URNJ.
URNJ has the higher dividend yield at 5.87%, compared with 0.00% for PSLV.
PSLV is categorized as Silver, while URNJ is Energy Equities. PSLV tracks No Index (Physical Silver), while URNJ tracks Nasdaq Sprott Junior Uranium Miners Index - Benchmark TR Gross. Their fees differ too: 0.51% for PSLV and 0.80% for URNJ.
PSLV currently has the higher Sharpe Ratio (1.72 vs 1.05), 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.
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