SGDM vs. SPHY
SGDM (Sprott Gold Miners ETF) and SPHY (SPDR Portfolio High Yield Bond ETF) are both exchange-traded funds - SGDM is a Gold fund tracking the Solactive Gold Miners Custom Factors Index, while SPHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Index. Both are passively managed. Over the past 10 years, SGDM returned 11.84%/yr vs 5.21%/yr for SPHY. At a 0.15 correlation, their price movements are largely independent. SGDM charges 0.50%/yr vs 0.05%/yr for SPHY.
Performance
SGDM vs. SPHY - Performance Comparison
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Returns By Period
In the year-to-date period, SGDM achieves a -4.58% return, which is significantly lower than SPHY's 1.85% return. Over the past 10 years, SGDM has outperformed SPHY with an annualized return of 11.84%, while SPHY has yielded a comparatively lower 5.21% annualized return.
SGDM
- 1D
- 3.49%
- 1M
- -14.98%
- YTD
- -4.58%
- 6M
- -4.02%
- 1Y
- 43.72%
- 3Y*
- 37.20%
- 5Y*
- 17.23%
- 10Y*
- 11.84%
SPHY
- 1D
- 0.04%
- 1M
- 0.67%
- YTD
- 1.85%
- 6M
- 2.41%
- 1Y
- 7.35%
- 3Y*
- 8.90%
- 5Y*
- 4.36%
- 10Y*
- 5.21%
SGDM vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGDM Sprott Gold Miners ETF | -4.58% | 153.46% | 12.14% | 2.34% | -8.23% | -9.15% | 21.85% | 44.27% | -15.14% | 10.46% |
SPHY SPDR Portfolio High Yield Bond ETF | 1.85% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
Correlation
The correlation between SGDM and SPHY is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014 | 0.15 |
Over the past year, SGDM and SPHY have become more correlated (0.35) than their long-term average of 0.15, meaning their price movements have been converging.
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Return for Risk
SGDM vs. SPHY — Risk / Return Rank
SGDM
SPHY
SGDM vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) and SPDR Portfolio High Yield Bond ETF (SPHY). 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 | SPHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.38 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.94 | -1.65 |
| Martin ratioReturn relative to average drawdown | 3.60 | 13.29 | -9.69 |
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Drawdowns
SGDM vs. SPHY - Drawdown Comparison
The maximum SGDM drawdown since its inception was -54.95%, which is greater than SPHY's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for SGDM and SPHY.
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Drawdown Indicators
| SGDM | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.95% | -21.97% | -32.98% |
Max Drawdown (1Y)Largest decline over 1 year | -35.96% | -2.41% | -33.55% |
Max Drawdown (3Y)Largest decline over 3 years | -35.96% | -4.85% | -31.11% |
Max Drawdown (5Y)Largest decline over 5 years | -45.06% | -15.29% | -29.77% |
Max Drawdown (10Y)Largest decline over 10 years | -49.69% | -21.97% | -27.72% |
Current DrawdownCurrent decline from peak | -30.31% | 0.00% | -30.31% |
Average DrawdownAverage peak-to-trough decline | -25.46% | -2.29% | -23.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.93% | 0.53% | +12.40% |
Volatility
SGDM vs. SPHY - Volatility Comparison
Sprott Gold Miners ETF (SGDM) has a higher volatility of 16.53% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 1.16%. This indicates that SGDM's price experiences larger fluctuations and is considered to be riskier than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGDM | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.53% | 1.16% | +15.37% |
Volatility (6M)Calculated over the trailing 6-month period | 38.64% | 2.95% | +35.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.24% | 3.72% | +42.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.11% | 7.18% | +28.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 7.87% | +29.10% |
SGDM vs. SPHY - Expense Ratio Comparison
SGDM has a 0.50% expense ratio, which is higher than SPHY's 0.05% expense ratio.
Dividends
SGDM vs. SPHY - Dividend Comparison
SGDM's dividend yield for the trailing twelve months is around 1.09%, less than SPHY's 7.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGDM Sprott Gold Miners ETF | 1.09% | 1.04% | 1.04% | 1.39% | 1.42% | 1.33% | 0.30% | 0.25% | 0.50% | 0.58% | 0.02% | 1.47% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.24% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Frequently Asked Questions
SGDM and SPHY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SGDM has higher volatility (16.53%) compared to SPHY (1.16%). In terms of maximum drawdown, SGDM dropped -54.95% vs SPHY's -21.97%.
On 10-year performance, SGDM leads with 11.84% vs 5.21% for SPHY. On fees, SPHY is cheaper at 0.05% per year. On volatility, SPHY has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SGDM has performed better with a 11.84% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHY is cheaper with a 0.05% expense ratio, compared with 0.50% for SGDM.
SPHY has the higher dividend yield at 7.24%, compared with 1.09% for SGDM.
SGDM is categorized as Gold, while SPHY is High Yield Bonds. SGDM tracks Solactive Gold Miners Custom Factors Index, while SPHY tracks ICE BofA US High Yield Index. They also come from different issuers: Sprott and State Street. Their fees differ too: 0.50% for SGDM and 0.05% for SPHY.
SPHY currently has the higher Sharpe Ratio (1.91 vs 1.01), 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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