SGDM vs. URNM

Last updated Aug 1, 2026

SGDM (Sprott Gold Miners ETF) and URNM (Sprott Uranium Miners ETF) are both exchange-traded funds - SGDM is a Gold fund tracking the Solactive Gold Miners Custom Factors Index, while URNM is a Uranium fund tracking the VettaFi Global Uranium Miners Index. Both are passively managed. Over the past 5 years, SGDM returned 17.63%/yr vs 13.97%/yr for URNM. Their 0.40 correlation means their historical movements had little consistent relationship. SGDM charges 0.50%/yr vs 0.85%/yr for URNM.

Performance

SGDM vs. URNM - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SGDM having a -11.23% return and URNM slightly lower at -11.51%.

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%

URNM

• 1D: -1.78%
• 1M: -8.06%
• 6M: -34.68%
• YTD: -11.51%
• 1Y: 12.09%
• 3Y*: 15.53%
• 5Y*: 13.97%
• 10Y*: —
• ALL TIME*: 25.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SGDM Sprott Gold Miners ETF	$1.70M	$1.88M	$3.01M
URNM Sprott Uranium Miners ETF	$16.15M	$21.14M	$35.55M

SGDM vs. URNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SGDM Sprott Gold Miners ETF	-11.23%	153.46%	12.14%	2.34%	-8.23%	-9.15%	21.85%	6.40%
URNM Sprott Uranium Miners ETF	-11.51%	40.78%	-14.13%	57.80%	-11.86%	78.32%	68.36%	4.05%

Correlation

The correlation between SGDM and URNM is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.42
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.40

The correlation between SGDM and URNM shifts across timeframes, from 0.40 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.

SGDM vs. URNM - Sectors Allocation Comparison

Sectors	SGDM	URNM
Basic Materials	100.0%	2.4%
Financial Services	0.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	97.6%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SGDM vs. URNM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SGDM

SGDM Risk / Return Rank: 33
SGDM Sharpe Ratio Rank: 35
SGDM Sortino Ratio Rank: 34
SGDM Omega Ratio Rank: 37
SGDM Calmar Ratio Rank: 32
SGDM Martin Ratio Rank: 28

URNM

URNM Risk / Return Rank: 17
URNM Sharpe Ratio Rank: 16
URNM Sortino Ratio Rank: 20
URNM Omega Ratio Rank: 19
URNM Calmar Ratio Rank: 15
URNM Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SGDM vs. URNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) and Sprott Uranium Miners ETF (URNM). 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	URNM	Difference
Sharpe ratio: Return per unit of total volatility	0.86	0.21	+0.65
Sortino ratio: Return per unit of downside risk	1.30	0.69	+0.61
Omega ratio: Gain probability vs. loss probability	1.18	1.08	+0.10
Calmar ratio: Return relative to maximum drawdown	1.08	0.26	+0.82
Martin ratio: Return relative to average drawdown	2.32	0.54	+1.79

SGDM vs. URNM - Sharpe Ratio Comparison

The current SGDM Sharpe Ratio is 0.86, which is higher than the URNM Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of SGDM and URNM, 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. URNM - Drawdown Comparison

The maximum SGDM drawdown since its inception was -54.95%, which is greater than URNM's maximum drawdown of -50.78%. Use the drawdown chart below to compare losses from any high point for SGDM and URNM.

Drawdown Indicators

	SGDM	URNM	Difference
Max Drawdown Largest peak-to-trough decline	-54.95%	-50.78%	-4.17%
Max Drawdown (1Y) Largest decline over 1 year	-38.29%	-43.89%	+5.60%
Max Drawdown (3Y) Largest decline over 3 years	-38.29%	-50.78%	+12.49%
Max Drawdown (5Y) Largest decline over 5 years	-45.06%	-50.78%	+5.72%
Max Drawdown (10Y) Largest decline over 10 years	-49.69%	—	—
Current Drawdown Current decline from peak	-35.16%	-42.17%	+7.01%
Average Drawdown Average peak-to-trough decline	-25.55%	-18.48%	-7.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.71%	20.85%	-3.14%

Volatility

SGDM vs. URNM - Volatility Comparison

The current volatility for Sprott Gold Miners ETF (SGDM) is 12.24%, while Sprott Uranium Miners ETF (URNM) has a volatility of 13.67%. This indicates that SGDM experiences smaller price fluctuations and is considered to be less risky than URNM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDM	URNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.24%	13.67%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	39.30%	39.86%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	47.67%	53.26%	-5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.54%	48.65%	-12.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.98%	46.95%	-9.97%

SGDM vs. URNM - Expense Ratio Comparison

SGDM has a 0.50% expense ratio, which is lower than URNM's 0.85% expense ratio.

Dividends

SGDM vs. URNM - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 1.18%, less than URNM's 3.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
URNM Sprott Uranium Miners ETF	3.59%	3.18%	3.18%	3.63%	0.00%	6.70%	2.57%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGDM and URNM in my portfolio?

SGDM and URNM have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDM or URNM?

URNM has higher volatility (13.67%) compared to SGDM (12.24%). In terms of maximum drawdown, SGDM dropped -54.95% vs URNM's -50.78%.

Which ETF is better, SGDM or URNM?

On 5-year performance, SGDM leads with 17.63% vs 13.97% for URNM. On fees, SGDM is cheaper at 0.50% per year. On volatility, SGDM has been the lower-risk option at 12.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDM or URNM?

Over the 5-year period, SGDM has performed better with a 17.63% return vs 13.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDM or URNM?

SGDM is cheaper with a 0.50% expense ratio, compared with 0.85% for URNM.

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

URNM has the higher dividend yield at 3.59%, compared with 1.18% for SGDM.

What is the main difference between SGDM and URNM?

SGDM is categorized as Gold, while URNM is Uranium. SGDM tracks Solactive Gold Miners Custom Factors Index, while URNM tracks VettaFi Global Uranium Miners Index. Their fees differ too: 0.50% for SGDM and 0.85% for URNM.

Which has better risk-adjusted returns?

SGDM currently has the higher Sharpe Ratio (0.86 vs 0.21), 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.