RING vs. SGDM

Last updated Jun 3, 2026

RING (iShares MSCI Global Gold Miners ETF) and SGDM (Sprott Gold Miners ETF) are both exchange-traded funds - RING is a Gold fund tracking the MSCI ACWI Select Gold Miners Investable Market Index, while SGDM is a Materials fund tracking the Solactive Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, RING returned 14.97%/yr vs 12.96%/yr for SGDM. With a 0.97 correlation, they move nearly in lockstep. RING charges 0.39%/yr vs 0.50%/yr for SGDM.

Performance

RING vs. SGDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Gold Miners ETF (RING) 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, RING achieves a 3.48% return, which is significantly lower than SGDM's 4.39% return. Over the past 10 years, RING has outperformed SGDM with an annualized return of 14.97%, while SGDM has yielded a comparatively lower 12.96% annualized return.

RING

• 1D: 0.94%
• 1M: 0.94%
• YTD: 3.48%
• 6M: 10.13%
• 1Y: 71.38%
• 3Y*: 48.61%
• 5Y*: 21.02%
• 10Y*: 14.97%

SGDM

• 1D: 0.80%
• 1M: 2.02%
• YTD: 4.39%
• 6M: 10.09%
• 1Y: 62.01%
• 3Y*: 40.32%
• 5Y*: 19.70%
• 10Y*: 12.96%

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

RING vs. SGDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RING iShares MSCI Global Gold Miners ETF	3.48%	164.72%	15.98%	12.29%	-15.40%	-7.46%	24.98%	49.92%	-13.14%	10.24%
SGDM Sprott Gold Miners ETF	4.39%	153.46%	12.14%	2.34%	-8.23%	-9.15%	21.85%	44.27%	-15.14%	10.46%

Correlation

The correlation between RING and SGDM is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jul 16, 2014	0.97

The correlation between RING and SGDM has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

RING vs. SGDM - Sectors Allocation Comparison

Sectors	RING	SGDM
Basic Materials	100.0%	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

RING vs. SGDM — Risk / Return Rank

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

RING

RING Risk / Return Rank: 44
RING Sharpe Ratio Rank: 45
RING Sortino Ratio Rank: 37
RING Omega Ratio Rank: 42
RING Calmar Ratio Rank: 54
RING Martin Ratio Rank: 44

SGDM

SGDM Risk / Return Rank: 39
SGDM Sharpe Ratio Rank: 39
SGDM Sortino Ratio Rank: 33
SGDM Omega Ratio Rank: 38
SGDM Calmar Ratio Rank: 47
SGDM Martin Ratio Rank: 38

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.

RING vs. SGDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Gold Miners ETF (RING) 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.

	RING	SGDM	Difference
Sharpe ratio Return per unit of total volatility	1.57	1.39	+0.17
Sortino ratio Return per unit of downside risk	1.94	1.77	+0.17
Omega ratio Gain probability vs. loss probability	1.27	1.25	+0.02
Calmar ratio Return relative to maximum drawdown	2.72	2.36	+0.36
Martin ratio Return relative to average drawdown	7.11	6.04	+1.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RING vs. SGDM - Sharpe Ratio Comparison

The current RING Sharpe Ratio is 1.57, which is comparable to the SGDM Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of RING 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

	RING	SGDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.39	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.55	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.35	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.27	-0.16

Drawdowns

RING vs. SGDM - Drawdown Comparison

The maximum RING drawdown since its inception was -79.47%, which is greater than SGDM's maximum drawdown of -54.95%. Use the drawdown chart below to compare losses from any high point for RING and SGDM.

Drawdown Indicators

	RING	SGDM	Difference
Max Drawdown Largest peak-to-trough decline	-79.47%	-54.95%	-24.52%
Max Drawdown (1Y) Largest decline over 1 year	-30.11%	-30.04%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-30.11%	-30.04%	-0.07%
Max Drawdown (5Y) Largest decline over 5 years	-47.94%	-45.06%	-2.88%
Max Drawdown (10Y) Largest decline over 10 years	-52.04%	-49.69%	-2.35%
Current Drawdown Current decline from peak	-23.36%	-23.75%	+0.39%
Average Drawdown Average peak-to-trough decline	-47.41%	-25.46%	-21.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.53%	11.72%	-0.19%

Volatility

RING vs. SGDM - Volatility Comparison

iShares MSCI Global Gold Miners ETF (RING) and Sprott Gold Miners ETF (SGDM) have volatilities of 14.72% and 14.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RING	SGDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.72%	14.26%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	37.25%	36.79%	+0.46%
Volatility (1Y) Calculated over the trailing 1-year period	46.16%	45.03%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.47%	35.79%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.53%	36.81%	-0.28%

RING vs. SGDM - Expense Ratio Comparison

RING has a 0.39% expense ratio, which is lower than SGDM's 0.50% expense ratio.

Dividends

RING vs. SGDM - Dividend Comparison

RING's dividend yield for the trailing twelve months is around 0.81%, less than SGDM's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RING iShares MSCI Global Gold Miners ETF	0.81%	0.84%	1.43%	2.01%	2.29%	2.38%	0.83%	0.83%	0.70%	0.42%	1.41%	0.96%
SGDM Sprott Gold Miners ETF	1.00%	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 RING and SGDM in my portfolio?

With a correlation of 0.98, RING and SGDM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RING or SGDM?

RING has higher volatility (14.72%) compared to SGDM (14.26%). In terms of maximum drawdown, RING dropped -79.47% vs SGDM's -54.95%.

Which ETF is better, RING or SGDM?

On 10-year performance, RING leads with 14.97% vs 12.96% for SGDM. On fees, RING is cheaper at 0.39% per year. On volatility, SGDM has been the lower-risk option at 14.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RING or SGDM?

Over the 10-year period, RING has performed better with a 14.97% return vs 12.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RING or SGDM?

RING is cheaper with a 0.39% expense ratio, compared with 0.50% for SGDM.

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

SGDM has the higher dividend yield at 1.00%, compared with 0.81% for RING.

What is the main difference between RING and SGDM?

RING is categorized as Gold, while SGDM is Materials. RING tracks MSCI ACWI Select Gold Miners Investable Market Index, while SGDM tracks Solactive Gold Miners Custom Factors Index. They also come from different issuers: iShares and Sprott. Their fees differ too: 0.39% for RING and 0.50% for SGDM.

Which has better risk-adjusted returns?

RING currently has the higher Sharpe Ratio (1.57 vs 1.39), 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.