SGDJ vs. PSLV

Last updated Jun 6, 2026

SGDJ (Sprott Junior Gold Miners ETF) and PSLV (Sprott Physical Silver Trust) are both exchange-traded funds - SGDJ is a Materials fund tracking the Solactive Junior Gold Miners Custom Factors Index, while PSLV is a Silver fund tracking the No Index (Physical Silver). Both are passively managed. Over the past 10 years, SGDJ returned 10.84%/yr vs 13.13%/yr for PSLV. A 0.73 correlation means they provide meaningful diversification when combined. SGDJ charges 0.50%/yr vs 0.51%/yr for PSLV.

Performance

SGDJ vs. PSLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Gold Miners ETF (SGDJ) and Sprott Physical Silver Trust (PSLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGDJ achieves a -7.68% return, which is significantly higher than PSLV's -8.96% return. Over the past 10 years, SGDJ has underperformed PSLV with an annualized return of 10.84%, while PSLV has yielded a comparatively higher 13.13% annualized return.

SGDJ

• 1D: -9.79%
• 1M: -15.35%
• YTD: -7.68%
• 6M: 0.99%
• 1Y: 61.13%
• 3Y*: 44.58%
• 5Y*: 14.87%
• 10Y*: 10.84%

PSLV

• 1D: -8.15%
• 1M: -14.05%
• YTD: -8.96%
• 6M: 10.52%
• 1Y: 80.47%
• 3Y*: 38.41%
• 5Y*: 16.65%
• 10Y*: 13.13%

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

SGDJ vs. PSLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGDJ Sprott Junior Gold Miners ETF	-7.68%	174.44%	19.35%	6.66%	-27.60%	-15.12%	47.91%	37.00%	-25.63%	5.94%
PSLV Sprott Physical Silver Trust	-8.96%	145.08%	19.43%	-1.94%	2.74%	-14.13%	42.81%	16.99%	-11.83%	4.28%

Correlation

The correlation between SGDJ and PSLV is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Apr 1, 2015	0.73

The correlation between SGDJ and PSLV has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.

Return for Risk

SGDJ vs. PSLV — Risk / Return Rank

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

SGDJ

SGDJ Risk / Return Rank: 35
SGDJ Sharpe Ratio Rank: 36
SGDJ Sortino Ratio Rank: 32
SGDJ Omega Ratio Rank: 36
SGDJ Calmar Ratio Rank: 39
SGDJ Martin Ratio Rank: 33

PSLV

PSLV Risk / Return Rank: 38
PSLV Sharpe Ratio Rank: 40
PSLV Sortino Ratio Rank: 33
PSLV Omega Ratio Rank: 45
PSLV Calmar Ratio Rank: 41
PSLV Martin Ratio Rank: 31

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.

SGDJ vs. PSLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Gold Miners ETF (SGDJ) and Sprott Physical Silver Trust (PSLV). 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.

	SGDJ	PSLV	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.37	-0.13
Sortino ratio: Return per unit of downside risk	1.65	1.71	-0.06
Omega ratio: Gain probability vs. loss probability	1.23	1.28	-0.05
Calmar ratio: Return relative to maximum drawdown	1.85	1.98	-0.13
Martin ratio: Return relative to average drawdown	4.81	4.35	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGDJ vs. PSLV - Sharpe Ratio Comparison

The current SGDJ Sharpe Ratio is 1.25, which is comparable to the PSLV Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of SGDJ and PSLV, 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

	SGDJ	PSLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	1.37	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.47	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.42	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.16	+0.18

Drawdowns

SGDJ vs. PSLV - Drawdown Comparison

The maximum SGDJ drawdown since its inception was -59.27%, smaller than the maximum PSLV drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for SGDJ and PSLV.

Drawdown Indicators

	SGDJ	PSLV	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-79.38%	+20.11%
Max Drawdown (1Y) Largest decline over 1 year	-33.22%	-40.79%	+7.57%
Max Drawdown (3Y) Largest decline over 3 years	-33.22%	-40.79%	+7.57%
Max Drawdown (5Y) Largest decline over 5 years	-54.90%	-40.79%	-14.11%
Max Drawdown (10Y) Largest decline over 10 years	-59.27%	-42.79%	-16.48%
Current Drawdown Current decline from peak	-32.69%	-40.79%	+8.10%
Average Drawdown Average peak-to-trough decline	-26.25%	-58.14%	+31.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.77%	18.56%	-5.79%

Volatility

SGDJ vs. PSLV - Volatility Comparison

The current volatility for Sprott Junior Gold Miners ETF (SGDJ) is 15.21%, while Sprott Physical Silver Trust (PSLV) has a volatility of 17.38%. This indicates that SGDJ experiences smaller price fluctuations and is considered to be less risky than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDJ	PSLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.21%	17.38%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	41.20%	57.99%	-16.79%
Volatility (1Y) Calculated over the trailing 1-year period	49.35%	59.10%	-9.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.50%	35.81%	+4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.85%	31.25%	+9.60%

SGDJ vs. PSLV - Expense Ratio Comparison

SGDJ has a 0.50% expense ratio, which is lower than PSLV's 0.51% expense ratio.

Dividends

SGDJ vs. PSLV - Dividend Comparison

SGDJ's dividend yield for the trailing twelve months is around 9.07%, while PSLV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSLV Sprott Physical Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SGDJ Sprott Junior Gold Miners ETF	9.07%	8.37%	6.55%	4.55%	2.46%	2.20%	1.97%	0.65%	0.00%	0.14%	1.77%	0.85%

Frequently Asked Questions

Can I hold both SGDJ and PSLV in my portfolio?

SGDJ and PSLV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDJ or PSLV?

PSLV has higher volatility (17.38%) compared to SGDJ (15.21%). In terms of maximum drawdown, SGDJ dropped -59.27% vs PSLV's -79.38%.

Which ETF is better, SGDJ or PSLV?

On 10-year performance, PSLV leads with 13.13% vs 10.84% for SGDJ. On fees, SGDJ is cheaper at 0.50% per year. On volatility, SGDJ has been the lower-risk option at 15.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDJ or PSLV?

Over the 10-year period, PSLV has performed better with a 13.13% return vs 10.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDJ or PSLV?

SGDJ is cheaper with a 0.50% expense ratio, compared with 0.51% for PSLV.

Which ETF pays a higher dividend yield, SGDJ or PSLV?

SGDJ has the higher dividend yield at 9.07%, compared with 0.00% for PSLV.

What is the main difference between SGDJ and PSLV?

SGDJ is categorized as Materials, while PSLV is Silver. SGDJ tracks Solactive Junior Gold Miners Custom Factors Index, while PSLV tracks No Index (Physical Silver). Their fees differ too: 0.50% for SGDJ and 0.51% for PSLV.

Which has better risk-adjusted returns?

PSLV currently has the higher Sharpe Ratio (1.37 vs 1.25), 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.