SLVX vs. GBUG

Last updated Aug 1, 2026

SLVX (Nicholas Silver Income ETF) and GBUG (Sprott Active Gold & Silver Miners ETF) are both exchange-traded funds - SLVX is a Silver fund actively managed by Nicholas Wealth, while GBUG is a Gold fund actively managed by Sprott. Both are actively managed. Their correlation of 0.95 means they have usually moved in the same direction. SLVX charges 1.16%/yr vs 0.89%/yr for GBUG.

Performance

SLVX vs. GBUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Silver Income ETF (SLVX) and Sprott Active Gold & Silver Miners ETF (GBUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SLVX

• 1D: -3.15%
• 1M: -10.80%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

GBUG

• 1D: -3.48%
• 1M: -5.07%
• 6M: -17.22%
• YTD: -11.43%
• 1Y: 59.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 60.10%

*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)
GBUG Sprott Active Gold & Silver Miners ETF	$1.01M	$985.52K	$1.44M
SLVX Nicholas Silver Income ETF	$209.15K	$204.32K	$206.07K

SLVX vs. GBUG - Yearly Performance Comparison

	2026 (YTD)
SLVX Nicholas Silver Income ETF	-32.32%
GBUG Sprott Active Gold & Silver Miners ETF	-22.02%

Correlation

The correlation between SLVX and GBUG is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026	0.95

Return for Risk

SLVX vs. GBUG — Risk / Return Rank

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

SLVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GBUG

GBUG Risk / Return Rank: 45
GBUG Sharpe Ratio Rank: 50
GBUG Sortino Ratio Rank: 45
GBUG Omega Ratio Rank: 49
GBUG Calmar Ratio Rank: 47
GBUG Martin Ratio Rank: 36

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.

SLVX vs. GBUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Silver Income ETF (SLVX) and Sprott Active Gold & Silver Miners ETF (GBUG). 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.

	SLVX	GBUG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.21	—
Sortino ratio: Return per unit of downside risk	—	1.65	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.67	—
Martin ratio: Return relative to average drawdown	—	3.51	—

Drawdowns

SLVX vs. GBUG - Drawdown Comparison

The maximum SLVX drawdown since its inception was -45.91%, which is greater than GBUG's maximum drawdown of -37.35%. Use the drawdown chart below to compare losses from any high point for SLVX and GBUG.

Drawdown Indicators

	SLVX	GBUG	Difference
Max Drawdown Largest peak-to-trough decline	-45.91%	-37.35%	-8.56%
Max Drawdown (1Y) Largest decline over 1 year	—	-37.35%	—
Current Drawdown Current decline from peak	-44.39%	-33.49%	-10.90%
Average Drawdown Average peak-to-trough decline	-26.32%	-10.30%	-16.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.73%	—

Volatility

Volatility by Period

	SLVX	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	42.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	59.89%	51.46%	+8.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.89%	48.42%	+11.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.89%	48.42%	+11.47%

SLVX vs. GBUG - Expense Ratio Comparison

SLVX has a 1.16% expense ratio, which is higher than GBUG's 0.89% expense ratio.

Dividends

SLVX vs. GBUG - Dividend Comparison

SLVX's dividend yield for the trailing twelve months is around 13.35%, more than GBUG's 1.76% yield.

Position	TTM	2025
GBUG Sprott Active Gold & Silver Miners ETF	1.76%	1.56%
SLVX Nicholas Silver Income ETF	13.35%	0.00%

Frequently Asked Questions

Can I hold both SLVX and GBUG in my portfolio?

With a correlation of 0.95, SLVX and GBUG 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 ETF is better, SLVX or GBUG?

On fees, GBUG is cheaper at 0.89% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLVX or GBUG?

GBUG is cheaper with a 0.89% expense ratio, compared with 1.16% for SLVX.

Which ETF pays a higher dividend yield, SLVX or GBUG?

SLVX has the higher dividend yield at 13.35%, compared with 1.76% for GBUG.

What is the main difference between SLVX and GBUG?

SLVX is categorized as Silver, while GBUG is Gold. They also come from different issuers: Nicholas Wealth and Sprott. Their fees differ too: 1.16% for SLVX and 0.89% for GBUG.