URNM.AX vs. MNRS.AX

Last updated Aug 6, 2026

URNM.AX (BetaShares Global Uranium ETF) and MNRS.AX (Betashares Global Gold Miners Currency Hedged ETF) are both exchange-traded funds - URNM.AX is a Uranium fund tracking the Indxx North Shore Uranium Mining Index, while MNRS.AX is a Global Equities fund tracking the Betashares Global Gold Miners Currency Hedged Index. Both are passively managed. Over the past 3 years, URNM.AX returned 19.11%/yr vs 44.04%/yr for MNRS.AX. Their 0.33 correlation means their historical movements had little consistent relationship. URNM.AX charges 0.69%/yr vs 0.57%/yr for MNRS.AX.

Performance

URNM.AX vs. MNRS.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares Global Uranium ETF (URNM.AX) and Betashares Global Gold Miners Currency Hedged ETF (MNRS.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URNM.AX achieves a -3.51% return, which is significantly lower than MNRS.AX's -2.60% return.

URNM.AX

• 1D: -0.50%
• 1M: -3.40%
• 6M: -27.84%
• YTD: -3.51%
• 1Y: 14.94%
• 3Y*: 19.11%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.16%

MNRS.AX

• 1D: 3.87%
• 1M: 5.83%
• 6M: -14.12%
• YTD: -2.60%
• 1Y: 56.66%
• 3Y*: 44.04%
• 5Y*: 19.94%
• 10Y*: 11.89%
• ALL TIME*: 12.13%

*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)
MNRS.AX Betashares Global Gold Miners Currency Hedged ETF	A$1.10M	A$1.15M	A$1.56M
URNM.AX BetaShares Global Uranium ETF	A$1.90M	A$1.50M	A$1.89M

URNM.AX vs. MNRS.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
URNM.AX BetaShares Global Uranium ETF	-3.51%	33.59%	-5.17%	57.03%	-9.61%
MNRS.AX Betashares Global Gold Miners Currency Hedged ETF	-2.60%	154.64%	16.03%	-0.92%	-1.98%

Correlation

The correlation between URNM.AX and MNRS.AX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.33
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022	0.33

Over the past year, URNM.AX and MNRS.AX have become more correlated (0.54) than their long-term average of 0.33, meaning their price movements have been converging.

Return for Risk

URNM.AX vs. MNRS.AX — Risk / Return Rank

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

URNM.AX

URNM.AX Risk / Return Rank: 17
URNM.AX Sharpe Ratio Rank: 16
URNM.AX Sortino Ratio Rank: 19
URNM.AX Omega Ratio Rank: 19
URNM.AX Calmar Ratio Rank: 16
URNM.AX Martin Ratio Rank: 15

MNRS.AX

MNRS.AX Risk / Return Rank: 34
MNRS.AX Sharpe Ratio Rank: 36
MNRS.AX Sortino Ratio Rank: 35
MNRS.AX Omega Ratio Rank: 36
MNRS.AX Calmar Ratio Rank: 34
MNRS.AX Martin Ratio Rank: 28

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.

URNM.AX vs. MNRS.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaShares Global Uranium ETF (URNM.AX) and Betashares Global Gold Miners Currency Hedged ETF (MNRS.AX). 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.

	URNM.AX	MNRS.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.31	1.02	-0.72
Sortino ratio: Return per unit of downside risk	0.77	1.50	-0.73
Omega ratio: Gain probability vs. loss probability	1.09	1.20	-0.11
Calmar ratio: Return relative to maximum drawdown	0.38	1.30	-0.92
Martin ratio: Return relative to average drawdown	0.75	2.68	-1.93

URNM.AX vs. MNRS.AX - Sharpe Ratio Comparison

The current URNM.AX Sharpe Ratio is 0.31, which is lower than the MNRS.AX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of URNM.AX and MNRS.AX, 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

URNM.AX vs. MNRS.AX - Drawdown Comparison

The maximum URNM.AX drawdown since its inception was -45.88%, roughly equal to the maximum MNRS.AX drawdown of -47.71%. Use the drawdown chart below to compare losses from any high point for URNM.AX and MNRS.AX.

Drawdown Indicators

	URNM.AX	MNRS.AX	Difference
Max Drawdown Largest peak-to-trough decline	-45.88%	-47.71%	+1.83%
Max Drawdown (1Y) Largest decline over 1 year	-38.16%	-38.55%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-45.88%	-38.55%	-7.33%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.52%	—
Current Drawdown Current decline from peak	-33.33%	-26.82%	-6.51%
Average Drawdown Average peak-to-trough decline	-16.52%	-23.45%	+6.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.56%	18.98%	+0.58%

Volatility

URNM.AX vs. MNRS.AX - Volatility Comparison

BetaShares Global Uranium ETF (URNM.AX) and Betashares Global Gold Miners Currency Hedged ETF (MNRS.AX) have volatilities of 11.92% and 12.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URNM.AX	MNRS.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.92%	12.53%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	31.60%	36.97%	-5.37%
Volatility (1Y) Calculated over the trailing 1-year period	47.52%	49.20%	-1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.61%	34.55%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.61%	34.03%	+5.58%

URNM.AX vs. MNRS.AX - Expense Ratio Comparison

URNM.AX has a 0.69% expense ratio, which is higher than MNRS.AX's 0.57% expense ratio.

Dividends

URNM.AX vs. MNRS.AX - Dividend Comparison

URNM.AX's dividend yield for the trailing twelve months is around 2.18%, less than MNRS.AX's 8.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MNRS.AX Betashares Global Gold Miners Currency Hedged ETF	8.07%	0.15%	1.30%	0.00%	0.00%	3.25%	2.31%
URNM.AX BetaShares Global Uranium ETF	2.18%	2.27%	2.26%	0.04%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URNM.AX and MNRS.AX in my portfolio?

URNM.AX and MNRS.AX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, URNM.AX or MNRS.AX?

On fees, MNRS.AX is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, URNM.AX or MNRS.AX?

MNRS.AX is cheaper with a 0.57% expense ratio, compared with 0.69% for URNM.AX.

What is the main difference between URNM.AX and MNRS.AX?

URNM.AX is categorized as Uranium, while MNRS.AX is Global Equities. URNM.AX tracks Indxx North Shore Uranium Mining Index, while MNRS.AX tracks Betashares Global Gold Miners Currency Hedged Index. Their fees differ too: 0.69% for URNM.AX and 0.57% for MNRS.AX.