SETM vs. METL

Last updated Aug 2, 2026

SETM (Sprott Critical Materials ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - SETM is a Materials fund tracking the Nasdaq Sprott Critical Materials Index, while METL is a Natural Resources fund actively managed by Sprott. SETM is passively managed, while METL is actively managed. Their correlation of 0.93 means they have usually moved in the same direction. SETM charges 0.65%/yr vs 0.89%/yr for METL.

Performance

SETM vs. METL - Performance Comparison

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

Returns By Period

In the year-to-date period, SETM achieves a -1.66% return, which is significantly higher than METL's -4.20% return.

SETM

• 1D: -2.30%
• 1M: -8.93%
• 6M: -18.02%
• YTD: -1.66%
• 1Y: 55.17%
• 3Y*: 18.39%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.18%

METL

• 1D: -1.47%
• 1M: -5.60%
• 6M: -18.65%
• YTD: -4.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
METL Sprott Active Metals & Miners ETF	$253.61K	$342.11K	$593.78K
SETM Sprott Critical Materials ETF	$3.56M	$4.68M	$7.65M

SETM vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
SETM Sprott Critical Materials ETF	-1.66%	33.22%
METL Sprott Active Metals & Miners ETF	-4.20%	28.19%

Correlation

The correlation between SETM and METL is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.93

Return for Risk

SETM vs. METL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SETM

SETM Risk / Return Rank: 49
SETM Sharpe Ratio Rank: 50
SETM Sortino Ratio Rank: 48
SETM Omega Ratio Rank: 48
SETM Calmar Ratio Rank: 54
SETM Martin Ratio Rank: 43

METL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SETM vs. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Critical Materials ETF (SETM) and Sprott Active Metals & Miners ETF (METL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SETM	METL	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.71	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.91	—	—
Martin ratio: Return relative to average drawdown	4.72	—	—

Drawdowns

SETM vs. METL - Drawdown Comparison

The maximum SETM drawdown since its inception was -42.81%, which is greater than METL's maximum drawdown of -28.80%. Use the drawdown chart below to compare losses from any high point for SETM and METL.

Drawdown Indicators

	SETM	METL	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-28.80%	-14.01%
Max Drawdown (1Y) Largest decline over 1 year	-30.05%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-42.81%	—	—
Current Drawdown Current decline from peak	-28.34%	-27.36%	-0.98%
Average Drawdown Average peak-to-trough decline	-15.34%	-10.66%	-4.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.14%	—	—

Volatility

Volatility by Period

	SETM	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	37.35%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	46.79%	43.84%	+2.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.25%	43.84%	-6.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.25%	43.84%	-6.59%

SETM vs. METL - Expense Ratio Comparison

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

Dividends

SETM vs. METL - Dividend Comparison

SETM's dividend yield for the trailing twelve months is around 1.59%, more than METL's 1.04% yield.

Position	TTM	2025	2024	2023
METL Sprott Active Metals & Miners ETF	1.04%	0.99%	0.00%	0.00%
SETM Sprott Critical Materials ETF	1.59%	1.56%	2.07%	2.47%

Frequently Asked Questions

Can I hold both SETM and METL in my portfolio?

With a correlation of 0.93, SETM and METL 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 ETF is better, SETM or METL?

On fees, SETM is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SETM or METL?

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

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

SETM has the higher dividend yield at 1.59%, compared with 1.04% for METL.

What is the main difference between SETM and METL?

SETM is categorized as Materials, while METL is Natural Resources. Their fees differ too: 0.65% for SETM and 0.89% for METL.