SGDJ vs. SGDM

Last updated Jun 3, 2026

SGDJ (Sprott Junior Gold Miners ETF) and SGDM (Sprott Gold Miners ETF) are both Materials funds from Sprott - SGDJ tracks the Solactive Junior Gold Miners Custom Factors Index while SGDM tracks the Solactive Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, SGDJ returned 12.36%/yr vs 12.96%/yr for SGDM. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

SGDJ vs. SGDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Gold Miners ETF (SGDJ) 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, SGDJ achieves a 5.59% return, which is significantly higher than SGDM's 4.39% return. Both investments have delivered pretty close results over the past 10 years, with SGDJ having a 12.36% annualized return and SGDM not far ahead at 12.96%.

SGDJ

• 1D: 1.39%
• 1M: 0.71%
• YTD: 5.59%
• 6M: 17.03%
• 1Y: 84.64%
• 3Y*: 51.51%
• 5Y*: 18.30%
• 10Y*: 12.36%

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)

SGDJ vs. SGDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGDJ Sprott Junior Gold Miners ETF	5.59%	174.44%	19.35%	6.66%	-27.60%	-15.12%	47.91%	37.00%	-25.63%	5.94%
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 SGDJ and SGDM is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 1, 2015	0.91

The correlation between SGDJ and SGDM has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

SGDJ vs. SGDM - Sectors Allocation Comparison

Sectors	SGDJ	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

SGDJ vs. SGDM — Risk / Return Rank

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

SGDJ

SGDJ Risk / Return Rank: 48
SGDJ Sharpe Ratio Rank: 50
SGDJ Sortino Ratio Rank: 40
SGDJ Omega Ratio Rank: 45
SGDJ Calmar Ratio Rank: 58
SGDJ Martin Ratio Rank: 46

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.

SGDJ vs. SGDM - Risk-Adjusted Trends Comparison

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

	SGDJ	SGDM	Difference
Sharpe ratio Return per unit of total volatility	1.77	1.39	+0.37
Sortino ratio Return per unit of downside risk	2.09	1.77	+0.32
Omega ratio Gain probability vs. loss probability	1.29	1.25	+0.04
Calmar ratio Return relative to maximum drawdown	2.90	2.36	+0.54
Martin ratio Return relative to average drawdown	7.76	6.04	+1.72
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. SGDM - Sharpe Ratio Comparison

The current SGDJ Sharpe Ratio is 1.77, which is comparable to the SGDM Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SGDJ 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

	SGDJ	SGDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.39	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.55	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.35	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.27	+0.09

Drawdowns

SGDJ vs. SGDM - Drawdown Comparison

The maximum SGDJ drawdown since its inception was -59.27%, which is greater than SGDM's maximum drawdown of -54.95%. Use the drawdown chart below to compare losses from any high point for SGDJ and SGDM.

Drawdown Indicators

	SGDJ	SGDM	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-54.95%	-4.32%
Max Drawdown (1Y) Largest decline over 1 year	-33.22%	-30.04%	-3.18%
Max Drawdown (3Y) Largest decline over 3 years	-33.22%	-30.04%	-3.18%
Max Drawdown (5Y) Largest decline over 5 years	-54.90%	-45.06%	-9.84%
Max Drawdown (10Y) Largest decline over 10 years	-59.27%	-49.69%	-9.58%
Current Drawdown Current decline from peak	-23.02%	-23.75%	+0.73%
Average Drawdown Average peak-to-trough decline	-26.25%	-25.46%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.40%	11.72%	+0.68%

Volatility

SGDJ vs. SGDM - Volatility Comparison

The current volatility for Sprott Junior Gold Miners ETF (SGDJ) is 13.05%, while Sprott Gold Miners ETF (SGDM) has a volatility of 14.26%. This indicates that SGDJ experiences smaller price fluctuations and is considered to be less risky than SGDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDJ	SGDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.05%	14.26%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	39.74%	36.79%	+2.95%
Volatility (1Y) Calculated over the trailing 1-year period	48.57%	45.03%	+3.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.31%	35.79%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.74%	36.81%	+3.93%

SGDJ vs. SGDM - Expense Ratio Comparison

Both SGDJ and SGDM have an expense ratio of 0.50%.

Dividends

SGDJ vs. SGDM - Dividend Comparison

SGDJ's dividend yield for the trailing twelve months is around 7.93%, more than SGDM's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGDJ Sprott Junior Gold Miners ETF	7.93%	8.37%	6.55%	4.55%	2.46%	2.20%	1.97%	0.65%	0.00%	0.14%	1.77%	0.85%
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 SGDJ and SGDM in my portfolio?

With a correlation of 0.91, SGDJ 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, SGDJ or SGDM?

SGDM has higher volatility (14.26%) compared to SGDJ (13.05%). In terms of maximum drawdown, SGDJ dropped -59.27% vs SGDM's -54.95%.

Which ETF is better, SGDJ or SGDM?

On 10-year performance, SGDM leads with 12.96% vs 12.36% for SGDJ. Both ETFs have the same 0.50% expense ratio. On volatility, SGDJ has been the lower-risk option at 13.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDJ or SGDM?

Over the 10-year period, SGDM has performed better with a 12.96% return vs 12.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDJ or SGDM?

SGDJ and SGDM have the same expense ratio: 0.50% per year.

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

SGDJ has the higher dividend yield at 7.93%, compared with 1.00% for SGDM.

What is the main difference between SGDJ and SGDM?

SGDJ tracks Solactive Junior Gold Miners Custom Factors Index, while SGDM tracks Solactive Gold Miners Custom Factors Index.

Which has better risk-adjusted returns?

SGDJ currently has the higher Sharpe Ratio (1.77 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.