SLVR vs. METL

Last updated Jun 4, 2026

SLVR (Sprott Silver Miners & Physical Silver ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - SLVR is a Silver fund tracking the Nasdaq Sprott Silver Miners™ Index, while METL is a Commodity Producers Equities fund actively managed by Sprott. SLVR is passively managed, while METL is actively managed. Their correlation of 0.84 suggests significant overlap in exposure. SLVR charges 0.65%/yr vs 0.89%/yr for METL.

Performance

SLVR vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Silver Miners & Physical Silver ETF (SLVR) 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, SLVR achieves a 6.80% return, which is significantly lower than METL's 18.34% return.

SLVR

• 1D: -5.47%
• 1M: 1.96%
• YTD: 6.80%
• 6M: 18.93%
• 1Y: 118.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

METL

• 1D: -3.81%
• 1M: 5.71%
• YTD: 18.34%
• 6M: 25.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLVR vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
SLVR Sprott Silver Miners & Physical Silver ETF	6.80%	57.34%
METL Sprott Active Metals & Miners ETF	18.34%	27.04%

Correlation

The correlation between SLVR and METL is 0.84, 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 11, 2025	0.84

Return for Risk

SLVR vs. METL — Risk / Return Rank

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

SLVR

SLVR Risk / Return Rank: 51
SLVR Sharpe Ratio Rank: 56
SLVR Sortino Ratio Rank: 45
SLVR Omega Ratio Rank: 48
SLVR Calmar Ratio Rank: 62
SLVR Martin Ratio Rank: 46

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.

SLVR vs. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Silver Miners & Physical Silver ETF (SLVR) 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.

	SLVR	METL	Difference
Sharpe ratio Return per unit of total volatility	1.93	—	—
Sortino ratio Return per unit of downside risk	2.25	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	3.08	—	—
Martin ratio Return relative to average drawdown	7.66	—	—
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

	SLVR	METL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.02	1.72	+0.30

Drawdowns

SLVR vs. METL - Drawdown Comparison

The maximum SLVR drawdown since its inception was -38.60%, which is greater than METL's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for SLVR and METL.

Drawdown Indicators

	SLVR	METL	Difference
Max Drawdown Largest peak-to-trough decline	-38.60%	-27.39%	-11.21%
Max Drawdown (1Y) Largest decline over 1 year	-38.60%	—	—
Current Drawdown Current decline from peak	-28.51%	-10.27%	-18.24%
Average Drawdown Average peak-to-trough decline	-9.24%	-8.11%	-1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.47%	—	—

Volatility

Volatility by Period

	SLVR	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	51.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	61.64%	43.94%	+17.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.85%	43.94%	+13.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.85%	43.94%	+13.91%

SLVR vs. METL - Expense Ratio Comparison

SLVR has a 0.65% expense ratio, which is lower than METL's 0.89% expense ratio.

Dividends

SLVR vs. METL - Dividend Comparison

SLVR's dividend yield for the trailing twelve months is around 3.45%, more than METL's 0.84% yield.

Position	TTM	2025
METL Sprott Active Metals & Miners ETF	0.84%	0.99%
SLVR Sprott Silver Miners & Physical Silver ETF	3.45%	3.68%

Frequently Asked Questions

Can I hold both SLVR and METL in my portfolio?

SLVR and METL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLVR or METL?

On fees, SLVR is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLVR or METL?

SLVR is cheaper with a 0.65% expense ratio, compared with 0.89% for METL.

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

SLVR has the higher dividend yield at 3.45%, compared with 0.84% for METL.

What is the main difference between SLVR and METL?

SLVR is categorized as Silver, while METL is Commodity Producers Equities. Their fees differ too: 0.65% for SLVR and 0.89% for METL.