URAA vs. URNM

Last updated Jul 15, 2026

URAA (Direxion Daily Uranium Industry Bull 2X Shares) and URNM (Sprott Uranium Miners ETF) are both Uranium funds - URAA tracks the Solactive United States Uranium and Nuclear Energy ETF Select Index (200%) while URNM tracks the VettaFi Global Uranium Miners Index. Both are passively managed. Over the past year, URAA returned -11.20% vs 13.60% for URNM. Their correlation of 0.95 suggests significant overlap in exposure. URAA charges 1.28%/yr vs 0.85%/yr for URNM.

Performance

URAA vs. URNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Uranium Industry Bull 2X Shares (URAA) and Sprott Uranium Miners ETF (URNM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URAA achieves a -25.28% return, which is significantly lower than URNM's -6.01% return.

URAA

• 1D: 4.02%
• 1M: -17.19%
• 6M: -45.16%
• YTD: -25.28%
• 1Y: -11.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

URNM

• 1D: 2.75%
• 1M: -5.48%
• 6M: -19.74%
• YTD: -6.01%
• 1Y: 13.60%
• 3Y*: 19.22%
• 5Y*: 16.39%
• 10Y*: —

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

URAA vs. URNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAA Direxion Daily Uranium Industry Bull 2X Shares	-25.28%	88.33%	-25.73%
URNM Sprott Uranium Miners ETF	-6.01%	40.78%	-15.83%

Correlation

The correlation between URAA and URNM is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	0.95

The correlation between URAA and URNM has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

URAA vs. URNM - Sectors Allocation Comparison

Sectors	URAA	URNM
Energy	62.5%	97.7%
Industrials	17.0%	-
Utilities	16.6%	-
Basic Materials	2.9%	2.3%
Technology	1.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

URAA vs. URNM — Risk / Return Rank

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

URAA

URAA Risk / Return Rank: 10
URAA Sharpe Ratio Rank: 8
URAA Sortino Ratio Rank: 13
URAA Omega Ratio Rank: 13
URAA Calmar Ratio Rank: 8
URAA Martin Ratio Rank: 8

URNM

URNM Risk / Return Rank: 15
URNM Sharpe Ratio Rank: 14
URNM Sortino Ratio Rank: 17
URNM Omega Ratio Rank: 16
URNM Calmar Ratio Rank: 14
URNM Martin Ratio Rank: 13

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.

URAA vs. URNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Uranium Industry Bull 2X Shares (URAA) 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.

	URAA	URNM	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	0.26	-0.38
Sortino ratio: Return per unit of downside risk	0.52	0.75	-0.23
Omega ratio: Gain probability vs. loss probability	1.06	1.09	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.18	0.34	-0.52
Martin ratio: Return relative to average drawdown	-0.34	0.73	-1.07

URAA vs. URNM - Sharpe Ratio Comparison

The current URAA Sharpe Ratio is -0.12, which is lower than the URNM Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of URAA 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

URAA vs. URNM - Drawdown Comparison

The maximum URAA drawdown since its inception was -67.45%, which is greater than URNM's maximum drawdown of -50.78%. Use the drawdown chart below to compare losses from any high point for URAA and URNM.

Drawdown Indicators

	URAA	URNM	Difference
Max Drawdown Largest peak-to-trough decline	-67.45%	-50.78%	-16.67%
Max Drawdown (1Y) Largest decline over 1 year	-63.83%	-40.22%	-23.61%
Max Drawdown (3Y) Largest decline over 3 years	—	-50.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-50.78%	—
Current Drawdown Current decline from peak	-62.37%	-38.58%	-23.79%
Average Drawdown Average peak-to-trough decline	-28.76%	-18.30%	-10.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.77%	18.75%	+14.02%

Volatility

URAA vs. URNM - Volatility Comparison

Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a higher volatility of 20.84% compared to Sprott Uranium Miners ETF (URNM) at 12.04%. This indicates that URAA's price experiences larger fluctuations and is considered to be riskier than URNM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URAA	URNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.84%	12.04%	+8.80%
Volatility (6M) Calculated over the trailing 6-month period	73.06%	41.17%	+31.89%
Volatility (1Y) Calculated over the trailing 1-year period	96.30%	52.75%	+43.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.14%	48.64%	+40.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.14%	46.98%	+42.16%

URAA vs. URNM - Expense Ratio Comparison

URAA has a 1.28% expense ratio, which is higher than URNM's 0.85% expense ratio.

Dividends

URAA vs. URNM - Dividend Comparison

URAA's dividend yield for the trailing twelve months is around 13.48%, more than URNM's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
URAA Direxion Daily Uranium Industry Bull 2X Shares	13.48%	9.14%	4.36%	0.00%	0.00%	0.00%	0.00%
URNM Sprott Uranium Miners ETF	3.38%	3.18%	3.18%	3.63%	0.00%	6.70%	2.57%

Frequently Asked Questions

Can I hold both URAA and URNM in my portfolio?

With a correlation of 0.95, URAA and URNM 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 is riskier, URAA or URNM?

URAA has higher volatility (20.84%) compared to URNM (12.04%). In terms of maximum drawdown, URAA dropped -67.45% vs URNM's -50.78%.

Which ETF is better, URAA or URNM?

On 1-year performance, URNM leads with 13.60% vs -11.20% for URAA. On fees, URNM is cheaper at 0.85% per year. On volatility, URNM has been the lower-risk option at 12.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URAA or URNM?

Over the 1-year period, URNM has performed better with a 13.60% return vs -11.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAA or URNM?

URNM is cheaper with a 0.85% expense ratio, compared with 1.28% for URAA.

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

URAA has the higher dividend yield at 13.48%, compared with 3.38% for URNM.

What is the main difference between URAA and URNM?

URAA tracks Solactive United States Uranium and Nuclear Energy ETF Select Index (200%), while URNM tracks VettaFi Global Uranium Miners Index. They also come from different issuers: Direxion and Sprott. Their fees differ too: 1.28% for URAA and 0.85% for URNM.

Which has better risk-adjusted returns?

URNM currently has the higher Sharpe Ratio (0.26 vs -0.12), 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.