URG vs. URA

Last updated Jun 3, 2026

URG (Ur-Energy Inc.) is a stock, while URA (Global X Uranium ETF) is Commodity Producers Equities fund tracking the Solactive Global Uranium & Nuclear Components Index. Over the past 10 years, URG returned 12.44%/yr vs 17.81%/yr for URA. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

URG vs. URA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ur-Energy Inc. (URG) and Global X Uranium ETF (URA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URG achieves a 51.08% return, which is significantly higher than URA's 25.02% return. Over the past 10 years, URG has underperformed URA with an annualized return of 12.44%, while URA has yielded a comparatively higher 17.81% annualized return.

URG

• 1D: 22.81%
• 1M: 17.32%
• YTD: 51.08%
• 6M: 57.89%
• 1Y: 181.88%
• 3Y*: 27.63%
• 5Y*: 7.84%
• 10Y*: 12.44%

URA

• 1D: 5.70%
• 1M: -4.33%
• YTD: 25.02%
• 6M: 23.66%
• 1Y: 75.62%
• 3Y*: 42.00%
• 5Y*: 23.53%
• 10Y*: 17.81%

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

URG vs. URA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
URG Ur-Energy Inc.	51.08%	20.87%	-25.32%	33.91%	-5.74%	52.27%	36.14%	-9.46%	-4.92%	28.71%
URA Global X Uranium ETF	25.02%	67.18%	-0.58%	46.25%	-11.32%	57.57%	41.33%	-3.54%	-22.11%	19.36%

Correlation

The correlation between URG and URA is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 8, 2010	0.62

The correlation between URG and URA shifts across timeframes, from 0.62 (all time) to 0.74 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

URG vs. URA — Risk / Return Rank

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

URG

URG Risk / Return Rank: 86
URG Sharpe Ratio Rank: 91
URG Sortino Ratio Rank: 87
URG Omega Ratio Rank: 84
URG Calmar Ratio Rank: 84
URG Martin Ratio Rank: 81

URA

URA Risk / Return Rank: 42
URA Sharpe Ratio Rank: 43
URA Sortino Ratio Rank: 43
URA Omega Ratio Rank: 38
URA Calmar Ratio Rank: 52
URA Martin Ratio Rank: 35

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.

URG vs. URA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ur-Energy Inc. (URG) and Global X Uranium ETF (URA). 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.

	URG	URA	Difference
Sharpe ratio Return per unit of total volatility	2.49	1.53	+0.96
Sortino ratio Return per unit of downside risk	2.90	2.16	+0.74
Omega ratio Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio Return relative to maximum drawdown	3.44	2.63	+0.80
Martin ratio Return relative to average drawdown	7.19	5.61	+1.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URG vs. URA - Sharpe Ratio Comparison

The current URG Sharpe Ratio is 2.49, which is higher than the URA Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of URG and URA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	URG	URA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.53	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.54	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.47	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	-0.04	+0.05

Drawdowns

URG vs. URA - Drawdown Comparison

The maximum URG drawdown since its inception was -91.13%, roughly equal to the maximum URA drawdown of -93.54%. Use the drawdown chart below to compare losses from any high point for URG and URA.

Drawdown Indicators

	URG	URA	Difference
Max Drawdown Largest peak-to-trough decline	-91.13%	-93.54%	+2.41%
Max Drawdown (1Y) Largest decline over 1 year	-45.71%	-28.43%	-17.28%
Max Drawdown (3Y) Largest decline over 3 years	-72.11%	-37.81%	-34.30%
Max Drawdown (5Y) Largest decline over 5 years	-73.30%	-37.90%	-35.40%
Max Drawdown (10Y) Largest decline over 10 years	-73.30%	-61.45%	-11.85%
Current Drawdown Current decline from peak	-35.78%	-39.38%	+3.60%
Average Drawdown Average peak-to-trough decline	-66.56%	-75.02%	+8.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.84%	13.35%	+8.49%

Volatility

URG vs. URA - Volatility Comparison

Ur-Energy Inc. (URG) has a higher volatility of 28.28% compared to Global X Uranium ETF (URA) at 14.99%. This indicates that URG's price experiences larger fluctuations and is considered to be riskier than URA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URG	URA	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.28%	14.99%	+13.29%
Volatility (6M) Calculated over the trailing 6-month period	49.90%	37.90%	+12.00%
Volatility (1Y) Calculated over the trailing 1-year period	74.10%	49.84%	+24.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.90%	43.55%	+24.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.38%	37.69%	+28.69%

Dividends

URG vs. URA - Dividend Comparison

URG has not paid dividends to shareholders, while URA's dividend yield for the trailing twelve months is around 3.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
URA Global X Uranium ETF	3.90%	4.88%	2.86%	6.07%	0.76%	5.84%	1.69%	1.66%	0.44%	2.03%	7.28%	1.96%
URG Ur-Energy Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URG and URA in my portfolio?

URG and URA have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URG or URA?

URG has higher volatility (28.28%) compared to URA (14.99%). In terms of maximum drawdown, URG dropped -91.13% vs URA's -93.54%.

Which has better risk-adjusted returns?

URG currently has the higher Sharpe Ratio (2.49 vs 1.53), 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.