SGDM vs. METL

Last updated Jul 14, 2026

SGDM (Sprott Gold Miners ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - SGDM is a Gold fund tracking the Solactive Gold Miners Custom Factors Index, while METL is a Natural Resources fund actively managed by Sprott. SGDM is passively managed, while METL is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. SGDM charges 0.50%/yr vs 0.89%/yr for METL.

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.

Returns By Period

In the year-to-date period, SGDM achieves a -12.51% return, which is significantly lower than METL's -3.21% return.

SGDM

• 1D: -2.92%
• 1M: -8.31%
• 6M: -21.49%
• YTD: -12.51%
• 1Y: 35.60%
• 3Y*: 32.22%
• 5Y*: 17.55%
• 10Y*: 8.81%

METL

• 1D: -2.92%
• 1M: -13.23%
• 6M: -14.80%
• YTD: -3.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGDM vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
SGDM Sprott Gold Miners ETF	-12.51%	25.33%
METL Sprott Active Metals & Miners ETF	-3.21%	28.19%

Correlation

The correlation between SGDM and METL is 0.81, 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	0.81

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: 26
SGDM Sharpe Ratio Rank: 26
SGDM Sortino Ratio Rank: 26
SGDM Omega Ratio Rank: 29
SGDM Calmar Ratio Rank: 25
SGDM Martin Ratio Rank: 23

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.

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.

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	METL	Difference
Sharpe ratio: Return per unit of total volatility	0.76	—	—
Sortino ratio: Return per unit of downside risk	1.19	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.99	—	—
Martin ratio: Return relative to average drawdown	2.29	—	—

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	-36.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-36.10%	—	—
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	-36.10%	-26.61%	-9.49%
Average Drawdown Average peak-to-trough decline	-25.50%	-9.59%	-15.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.61%	—	—

Volatility

Volatility by Period

	SGDM	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	39.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	47.34%	44.31%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.43%	44.31%	-7.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.02%	44.31%	-7.29%

SGDM vs. METL - Expense Ratio Comparison

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

Dividends

SGDM vs. METL - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 1.19%, more than METL's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
METL Sprott Active Metals & Miners ETF	1.03%	0.99%	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	1.19%	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 SGDM and METL in my portfolio?

SGDM and METL have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SGDM or METL?

On fees, SGDM is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SGDM or METL?

SGDM is cheaper with a 0.50% expense ratio, compared with 0.89% for METL.

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

SGDM has the higher dividend yield at 1.19%, compared with 1.03% for METL.

What is the main difference between SGDM and METL?

SGDM is categorized as Gold, while METL is Natural Resources. Their fees differ too: 0.50% for SGDM and 0.89% for METL.