SETM vs. GBUG

Last updated Jun 4, 2026

SETM (Sprott Energy Transition Materials ETF) and GBUG (Sprott Active Gold & Silver Miners ETF) are both exchange-traded funds - SETM is a Energy Equities fund tracking the Nasdaq Sprott Energy Transition Materials Select Index - AUD - Benchmark TR Gross, while GBUG is a Gold fund actively managed by Sprott. SETM is passively managed, while GBUG is actively managed. Over the past year, SETM returned 144.21% vs 68.44% for GBUG. A 0.61 correlation means they provide meaningful diversification when combined. SETM charges 0.65%/yr vs 0.89%/yr for GBUG.

Performance

SETM vs. GBUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Energy Transition Materials ETF (SETM) and Sprott Active Gold & Silver Miners ETF (GBUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SETM achieves a 27.22% return, which is significantly higher than GBUG's 1.33% return.

SETM

• 1D: -4.09%
• 1M: 2.39%
• YTD: 27.22%
• 6M: 33.66%
• 1Y: 144.21%
• 3Y*: 30.90%
• 5Y*: —
• 10Y*: —

GBUG

• 1D: 1.44%
• 1M: 1.93%
• YTD: 1.33%
• 6M: 10.28%
• 1Y: 68.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SETM vs. GBUG - Yearly Performance Comparison

	2026 (YTD)	2025
SETM Sprott Energy Transition Materials ETF	27.22%	87.20%
GBUG Sprott Active Gold & Silver Miners ETF	1.33%	119.00%

Correlation

The correlation between SETM and GBUG is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.61

The correlation between SETM and GBUG has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.

Return for Risk

SETM vs. GBUG — Risk / Return Rank

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

SETM

SETM Risk / Return Rank: 82
SETM Sharpe Ratio Rank: 91
SETM Sortino Ratio Rank: 71
SETM Omega Ratio Rank: 72
SETM Calmar Ratio Rank: 90
SETM Martin Ratio Rank: 84

GBUG

GBUG Risk / Return Rank: 41
GBUG Sharpe Ratio Rank: 41
GBUG Sortino Ratio Rank: 34
GBUG Omega Ratio Rank: 40
GBUG Calmar Ratio Rank: 48
GBUG Martin Ratio Rank: 39

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.

SETM vs. GBUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Energy Transition Materials ETF (SETM) and Sprott Active Gold & Silver Miners ETF (GBUG). 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.

	SETM	GBUG	Difference
Sharpe ratio Return per unit of total volatility	3.25	1.45	+1.80
Sortino ratio Return per unit of downside risk	3.29	1.84	+1.45
Omega ratio Gain probability vs. loss probability	1.44	1.26	+0.18
Calmar ratio Return relative to maximum drawdown	5.61	2.43	+3.18
Martin ratio Return relative to average drawdown	17.42	6.34	+11.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SETM vs. GBUG - Sharpe Ratio Comparison

The current SETM Sharpe Ratio is 3.25, which is higher than the GBUG Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of SETM and GBUG, 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

	SETM	GBUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	1.45	+1.80
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	1.84	-1.25

Drawdowns

SETM vs. GBUG - Drawdown Comparison

The maximum SETM drawdown since its inception was -42.81%, which is greater than GBUG's maximum drawdown of -32.10%. Use the drawdown chart below to compare losses from any high point for SETM and GBUG.

Drawdown Indicators

	SETM	GBUG	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-32.10%	-10.71%
Max Drawdown (1Y) Largest decline over 1 year	-25.85%	-32.10%	+6.25%
Max Drawdown (3Y) Largest decline over 3 years	-42.81%	—	—
Current Drawdown Current decline from peak	-7.30%	-23.90%	+16.60%
Average Drawdown Average peak-to-trough decline	-14.26%	-7.56%	-6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.31%	12.30%	-3.99%

Volatility

SETM vs. GBUG - Volatility Comparison

The current volatility for Sprott Energy Transition Materials ETF (SETM) is 13.58%, while Sprott Active Gold & Silver Miners ETF (GBUG) has a volatility of 14.95%. This indicates that SETM experiences smaller price fluctuations and is considered to be less risky than GBUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SETM	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.58%	14.95%	-1.37%
Volatility (6M) Calculated over the trailing 6-month period	34.49%	39.21%	-4.72%
Volatility (1Y) Calculated over the trailing 1-year period	44.71%	47.75%	-3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.57%	47.31%	-10.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.57%	47.31%	-10.74%

SETM vs. GBUG - Expense Ratio Comparison

SETM has a 0.65% expense ratio, which is lower than GBUG's 0.89% expense ratio.

Dividends

SETM vs. GBUG - Dividend Comparison

SETM's dividend yield for the trailing twelve months is around 1.23%, less than GBUG's 1.54% yield.

Position	TTM	2025	2024	2023
GBUG Sprott Active Gold & Silver Miners ETF	1.54%	1.56%	0.00%	0.00%
SETM Sprott Energy Transition Materials ETF	1.23%	1.56%	2.07%	2.47%

Frequently Asked Questions

Can I hold both SETM and GBUG in my portfolio?

SETM and GBUG have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SETM or GBUG?

GBUG has higher volatility (14.95%) compared to SETM (13.58%). In terms of maximum drawdown, SETM dropped -42.81% vs GBUG's -32.10%.

Which ETF is better, SETM or GBUG?

On 1-year performance, SETM leads with 144.21% vs 68.44% for GBUG. On fees, SETM is cheaper at 0.65% per year. On volatility, SETM has been the lower-risk option at 13.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SETM or GBUG?

Over the 1-year period, SETM has performed better with a 144.21% return vs 68.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SETM or GBUG?

SETM is cheaper with a 0.65% expense ratio, compared with 0.89% for GBUG.

Which ETF pays a higher dividend yield, SETM or GBUG?

GBUG has the higher dividend yield at 1.54%, compared with 1.23% for SETM.

What is the main difference between SETM and GBUG?

SETM is categorized as Energy Equities, while GBUG is Gold. Their fees differ too: 0.65% for SETM and 0.89% for GBUG.

Which has better risk-adjusted returns?

SETM currently has the higher Sharpe Ratio (3.25 vs 1.45), 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.