SGDM vs. METL

Last updated Apr 2, 2026

Compare and contrast key facts about Sprott Gold Miners ETF (SGDM) and Sprott Active Metals & Miners ETF (METL).

SGDM and METL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SGDM is a passively managed fund by Sprott that tracks the performance of the Solactive Gold Miners Custom Factors Index. It was launched on Jul 15, 2014. METL is an actively managed fund by Sprott. It was launched on Sep 9, 2025.

Performance

SGDM vs. METL - Performance Comparison

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

SGDM vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
SGDM Sprott Gold Miners ETF	13.63%	23.12%
METL Sprott Active Metals & Miners ETF	8.85%	27.04%

Returns By Period

In the year-to-date period, SGDM achieves a 13.63% return, which is significantly higher than METL's 8.85% return.

SGDM

• 1D: 4.81%
• 1M: -17.00%
• YTD: 13.63%
• 6M: 27.33%
• 1Y: 111.01%
• 3Y*: 42.57%
• 5Y*: 24.69%
• 10Y*: 16.46%

METL

• 1D: 2.29%
• 1M: -14.76%
• YTD: 8.85%
• 6M: 25.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGDM vs. METL - Expense Ratio Comparison

SGDM has a 0.50% expense ratio, which is lower than METL's 0.89% expense ratio.

METL

Sprott Active Metals & Miners ETF

SGDM

Sprott Gold Miners ETF

Return for Risk

SGDM vs. METL — Risk / Return Rank

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

SGDM

SGDM Risk / Return Rank: 92
SGDM Sharpe Ratio Rank: 95
SGDM Sortino Ratio Rank: 89
SGDM Omega Ratio Rank: 90
SGDM Calmar Ratio Rank: 93
SGDM Martin Ratio Rank: 92

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.

SGDM vs. METL - Risk-Adjusted Trends Comparison

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

	SGDM	METL	Difference
Sharpe ratio Return per unit of total volatility	2.44	—	—
Sortino ratio Return per unit of downside risk	2.58	—	—
Omega ratio Gain probability vs. loss probability	1.39	—	—
Calmar ratio Return relative to maximum drawdown	3.69	—	—
Martin ratio Return relative to average drawdown	13.29	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SGDM	METL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	1.77	-1.48

Correlation

The correlation between SGDM and METL is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SGDM vs. METL - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 0.92%, more than METL's 0.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGDM Sprott Gold Miners ETF	0.92%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%
METL Sprott Active Metals & Miners ETF	0.91%	0.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SGDM vs. METL - Drawdown Comparison

The maximum SGDM drawdown since its inception was -54.95%, which is greater than METL's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for SGDM and METL.

Drawdown Indicators

	SGDM	METL	Difference
Max Drawdown Largest peak-to-trough decline	-54.95%	-27.39%	-27.56%
Max Drawdown (1Y) Largest decline over 1 year	-30.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.69%	—	—
Current Drawdown Current decline from peak	-17.00%	-17.47%	+0.47%
Average Drawdown Average peak-to-trough decline	-25.53%	-6.83%	-18.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.33%	—	—

Volatility

Volatility by Period

	SGDM	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	38.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	45.74%	44.84%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.29%	44.84%	-9.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.07%	44.84%	-7.77%