SGDM vs. SGDJ

Last updated Jun 23, 2026

SGDM (Sprott Gold Miners ETF) and SGDJ (Sprott Junior Gold Miners ETF) are both Gold funds from Sprott - SGDM tracks the Solactive Gold Miners Custom Factors Index while SGDJ tracks the Solactive Junior Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, SGDM returned 11.34%/yr vs 10.65%/yr for SGDJ. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

SGDM vs. SGDJ - Performance Comparison

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

Returns By Period

In the year-to-date period, SGDM achieves a -3.45% return, which is significantly lower than SGDJ's -0.39% return. Over the past 10 years, SGDM has outperformed SGDJ with an annualized return of 11.34%, while SGDJ has yielded a comparatively lower 10.65% annualized return.

SGDM

• 1D: -1.23%
• 1M: -4.58%
• YTD: -3.45%
• 6M: -7.95%
• 1Y: 49.12%
• 3Y*: 39.66%
• 5Y*: 19.95%
• 10Y*: 11.34%

SGDJ

• 1D: 0.85%
• 1M: -1.92%
• YTD: -0.39%
• 6M: -5.39%
• 1Y: 84.48%
• 3Y*: 53.40%
• 5Y*: 18.73%
• 10Y*: 10.65%

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

SGDM vs. SGDJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGDM Sprott Gold Miners ETF	-3.45%	153.46%	12.14%	2.34%	-8.23%	-9.15%	21.85%	44.27%	-15.14%	10.46%
SGDJ Sprott Junior Gold Miners ETF	-0.39%	174.44%	19.35%	6.66%	-27.60%	-15.12%	47.91%	37.00%	-25.63%	5.94%

Correlation

The correlation between SGDM and SGDJ 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 Mar 31, 2015	0.91

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

SGDM vs. SGDJ - Sectors Allocation Comparison

Sectors	SGDM	SGDJ
Basic Materials	99.5%	100.0%
Financial Services	0.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SGDM vs. SGDJ — Risk / Return Rank

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

SGDM

SGDM Risk / Return Rank: 29
SGDM Sharpe Ratio Rank: 30
SGDM Sortino Ratio Rank: 28
SGDM Omega Ratio Rank: 31
SGDM Calmar Ratio Rank: 29
SGDM Martin Ratio Rank: 27

SGDJ

SGDJ Risk / Return Rank: 45
SGDJ Sharpe Ratio Rank: 51
SGDJ Sortino Ratio Rank: 40
SGDJ Omega Ratio Rank: 45
SGDJ Calmar Ratio Rank: 48
SGDJ Martin Ratio Rank: 39

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. SGDJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) and Sprott Junior Gold Miners ETF (SGDJ). 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	SGDJ	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.68	-0.63
Sortino ratio: Return per unit of downside risk	1.48	2.02	-0.54
Omega ratio: Gain probability vs. loss probability	1.21	1.28	-0.08
Calmar ratio: Return relative to maximum drawdown	1.37	2.31	-0.93
Martin ratio: Return relative to average drawdown	3.66	6.04	-2.38

SGDM vs. SGDJ - Sharpe Ratio Comparison

The current SGDM Sharpe Ratio is 1.06, which is lower than the SGDJ Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SGDM and SGDJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SGDM vs. SGDJ - Drawdown Comparison

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

Drawdown Indicators

	SGDM	SGDJ	Difference
Max Drawdown Largest peak-to-trough decline	-54.95%	-59.27%	+4.32%
Max Drawdown (1Y) Largest decline over 1 year	-35.96%	-36.84%	+0.88%
Max Drawdown (3Y) Largest decline over 3 years	-35.96%	-36.84%	+0.88%
Max Drawdown (5Y) Largest decline over 5 years	-45.06%	-52.66%	+7.60%
Max Drawdown (10Y) Largest decline over 10 years	-49.69%	-59.27%	+9.58%
Current Drawdown Current decline from peak	-29.48%	-27.38%	-2.10%
Average Drawdown Average peak-to-trough decline	-25.47%	-26.25%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.46%	14.04%	-0.58%

Volatility

SGDM vs. SGDJ - Volatility Comparison

The current volatility for Sprott Gold Miners ETF (SGDM) is 16.43%, while Sprott Junior Gold Miners ETF (SGDJ) has a volatility of 18.05%. This indicates that SGDM experiences smaller price fluctuations and is considered to be less risky than SGDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDM	SGDJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.43%	18.05%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	39.22%	42.47%	-3.25%
Volatility (1Y) Calculated over the trailing 1-year period	46.84%	50.61%	-3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.19%	40.81%	-4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.03%	40.97%	-3.94%

SGDM vs. SGDJ - Expense Ratio Comparison

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

Dividends

SGDM vs. SGDJ - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 1.08%, less than SGDJ's 8.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGDJ Sprott Junior Gold Miners ETF	8.41%	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	1.08%	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 SGDJ in my portfolio?

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

SGDJ has higher volatility (18.05%) compared to SGDM (16.43%). In terms of maximum drawdown, SGDM dropped -54.95% vs SGDJ's -59.27%.

Which ETF is better, SGDM or SGDJ?

On 10-year performance, SGDM leads with 11.34% vs 10.65% for SGDJ. Both ETFs have the same 0.50% expense ratio. On volatility, SGDM has been the lower-risk option at 16.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDM or SGDJ?

Over the 10-year period, SGDM has performed better with a 11.34% return vs 10.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDM or SGDJ?

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

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

SGDJ has the higher dividend yield at 8.41%, compared with 1.08% for SGDM.

What is the main difference between SGDM and SGDJ?

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

Which has better risk-adjusted returns?

SGDJ currently has the higher Sharpe Ratio (1.68 vs 1.06), 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.