SGDM vs. BAR
SGDM (Sprott Gold Miners ETF) and BAR (GraniteShares Gold Trust) are both Gold funds - SGDM tracks the Solactive Gold Miners Custom Factors Index while BAR tracks the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 5 years, SGDM returned 17.63%/yr vs 17.20%/yr for BAR. Their 0.76 correlation means they have sometimes moved together and sometimes differently. SGDM charges 0.50%/yr vs 0.17%/yr for BAR.
Performance
SGDM vs. BAR - Performance Comparison
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Returns By Period
In the year-to-date period, SGDM achieves a -11.23% return, which is significantly lower than BAR's -6.21% return.
SGDM
- 1D
- -2.85%
- 1M
- -5.85%
- 6M
- -18.69%
- YTD
- -11.23%
- 1Y
- 38.43%
- 3Y*
- 35.17%
- 5Y*
- 17.63%
- 10Y*
- 8.54%
- ALL TIME*
- 8.60%
BAR
- 1D
- -1.51%
- 1M
- -1.73%
- 6M
- -16.49%
- YTD
- -6.21%
- 1Y
- 20.39%
- 3Y*
- 27.47%
- 5Y*
- 17.20%
- 10Y*
- —
- ALL TIME*
- 13.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.48M | $7.76M | $9.82M | |
| $1.70M | $1.88M | $3.01M |
SGDM vs. BAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGDM Sprott Gold Miners ETF | -11.23% | 153.46% | 12.14% | 2.34% | -8.23% | -9.15% | 21.85% | 44.27% | -15.14% | -4.44% |
BAR GraniteShares Gold Trust | -6.21% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | -1.87% | -0.79% |
Correlation
The correlation between SGDM and BAR is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2017 | 0.76 |
The correlation between SGDM and BAR has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
SGDM vs. BAR — Risk / Return Rank
SGDM
BAR
SGDM vs. BAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) and GraniteShares Gold Trust (BAR). 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.
| SGDM | BAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.17 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.87 | +0.20 |
| Martin ratioReturn relative to average drawdown | 2.32 | 1.88 | +0.44 |
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Drawdowns
SGDM vs. BAR - Drawdown Comparison
The maximum SGDM drawdown since its inception was -54.95%, which is greater than BAR's maximum drawdown of -26.32%. Use the drawdown chart below to compare losses from any high point for SGDM and BAR.
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Drawdown Indicators
| SGDM | BAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.95% | -26.32% | -28.63% |
Max Drawdown (1Y)Largest decline over 1 year | -38.29% | -26.32% | -11.97% |
Max Drawdown (3Y)Largest decline over 3 years | -38.29% | -26.32% | -11.97% |
Max Drawdown (5Y)Largest decline over 5 years | -45.06% | -26.32% | -18.74% |
Max Drawdown (10Y)Largest decline over 10 years | -49.69% | — | — |
Current DrawdownCurrent decline from peak | -35.16% | -25.04% | -10.12% |
Average DrawdownAverage peak-to-trough decline | -25.55% | -6.75% | -18.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.71% | 12.15% | +5.56% |
Volatility
SGDM vs. BAR - Volatility Comparison
Sprott Gold Miners ETF (SGDM) has a higher volatility of 12.24% compared to GraniteShares Gold Trust (BAR) at 6.32%. This indicates that SGDM's price experiences larger fluctuations and is considered to be riskier than BAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGDM | BAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.24% | 6.32% | +5.92% |
Volatility (6M)Calculated over the trailing 6-month period | 39.30% | 23.33% | +15.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.67% | 27.91% | +19.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.54% | 18.38% | +18.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.98% | 16.61% | +20.37% |
SGDM vs. BAR - Expense Ratio Comparison
SGDM has a 0.50% expense ratio, which is higher than BAR's 0.17% expense ratio.
Dividends
SGDM vs. BAR - Dividend Comparison
SGDM's dividend yield for the trailing twelve months is around 1.18%, while BAR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold 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% |
SGDM Sprott Gold Miners ETF | 1.18% | 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
SGDM and BAR have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SGDM has higher volatility (12.24%) compared to BAR (6.32%). In terms of maximum drawdown, SGDM dropped -54.95% vs BAR's -26.32%.
On 5-year performance, SGDM leads with 17.63% vs 17.20% for BAR. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 6.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGDM has performed better with a 17.63% return vs 17.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 0.50% for SGDM.
SGDM has the higher dividend yield at 1.18%, compared with 0.00% for BAR.
SGDM tracks Solactive Gold Miners Custom Factors Index, while BAR tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: Sprott and GraniteShares. Their fees differ too: 0.50% for SGDM and 0.17% for BAR.
SGDM currently has the higher Sharpe Ratio (0.86 vs 0.82), 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.
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