SLVX vs. GBUG

Last updated Jun 15, 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 0.93 suggests significant overlap in exposure. 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: 3.40%
• 1M: -14.36%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GBUG

• 1D: 2.95%
• 1M: -9.19%
• YTD: -7.73%
• 6M: -5.82%
• 1Y: 52.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLVX vs. GBUG - Yearly Performance Comparison

	2026 (YTD)
SLVX Nicholas Silver Income ETF	-19.87%
GBUG Sprott Active Gold & Silver Miners ETF	-18.76%

Correlation

The correlation between SLVX and GBUG is 0.93, 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 Feb 18, 2026	0.93

Return for Risk

SLVX vs. GBUG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 33
GBUG Sharpe Ratio Rank: 34
GBUG Sortino Ratio Rank: 32
GBUG Omega Ratio Rank: 36
GBUG Calmar Ratio Rank: 33
GBUG Martin Ratio Rank: 31

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.

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	—	1.10	—
Sortino ratio: Return per unit of downside risk	—	1.53	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.47	—
Martin ratio: Return relative to average drawdown	—	4.01	—

Drawdowns

SLVX vs. GBUG - Drawdown Comparison

The maximum SLVX drawdown since its inception was -40.32%, which is greater than GBUG's maximum drawdown of -36.90%. 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	-40.32%	-36.90%	-3.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-36.90%	—
Current Drawdown Current decline from peak	-34.17%	-30.71%	-3.46%
Average Drawdown Average peak-to-trough decline	-20.61%	-8.12%	-12.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	13.51%	—

Volatility

Volatility by Period

	SLVX	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	41.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	62.23%	49.38%	+12.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.23%	48.25%	+13.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.23%	48.25%	+13.98%

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 8.00%, more than GBUG's 1.69% yield.

Position	TTM	2025
GBUG Sprott Active Gold & Silver Miners ETF	1.69%	1.56%
SLVX Nicholas Silver Income ETF	8.00%	0.00%

Frequently Asked Questions

Can I hold both SLVX and GBUG in my portfolio?

With a correlation of 0.93, 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 8.00%, compared with 1.69% 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.