SETM vs. METL

Last updated Jun 24, 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 suggests significant overlap in exposure. 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 11.16% return, which is significantly higher than METL's 5.42% return.

SETM

• 1D: -4.08%
• 1M: -8.14%
• YTD: 11.16%
• 6M: 8.97%
• 1Y: 95.17%
• 3Y*: 25.14%
• 5Y*: —
• 10Y*: —

METL

• 1D: -4.31%
• 1M: -5.33%
• YTD: 5.42%
• 6M: 3.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SETM vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
SETM Sprott Critical Materials ETF	11.16%	33.22%
METL Sprott Active Metals & Miners ETF	5.42%	28.19%

Correlation

The correlation between SETM and METL is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

SETM

SETM Risk / Return Rank: 61
SETM Sharpe Ratio Rank: 66
SETM Sortino Ratio Rank: 51
SETM Omega Ratio Rank: 53
SETM Calmar Ratio Rank: 75
SETM Martin Ratio Rank: 62

METL

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

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. 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	2.05	—	—
Sortino ratio: Return per unit of downside risk	2.41	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.70	—	—
Martin ratio: Return relative to average drawdown	10.56	—	—

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 -27.39%. 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%	-27.39%	-15.42%
Max Drawdown (1Y) Largest decline over 1 year	-25.85%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-42.81%	—	—
Current Drawdown Current decline from peak	-19.00%	-20.07%	+1.07%
Average Drawdown Average peak-to-trough decline	-15.03%	-8.64%	-6.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.04%	—	—

Volatility

Volatility by Period

	SETM	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	37.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	46.69%	45.01%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.23%	45.01%	-7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.23%	45.01%	-7.78%

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 1.41%, more than METL's 0.94% yield.

Position	TTM	2025	2024	2023
METL Sprott Active Metals & Miners ETF	0.94%	0.99%	0.00%	0.00%
SETM Sprott Critical Materials ETF	1.41%	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 1.41%, compared with 0.94% 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.