URNM vs. AM
URNM (NorthShore Global Uranium Mining ETF) is Commodity Producers Equities fund tracking the North Shore Global Uranium Mining Index, while AM (Antero Midstream Corporation) is a stock. Over the past 5 years, URNM returned 15.58%/yr vs 24.91%/yr for AM. At a 0.34 correlation, their price movements are largely independent.
Performance
URNM vs. AM - Performance Comparison
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Returns By Period
In the year-to-date period, URNM achieves a 11.97% return, which is significantly lower than AM's 22.27% return.
URNM
- 1D
- -5.94%
- 1M
- -7.38%
- YTD
- 11.97%
- 6M
- 10.07%
- 1Y
- 52.67%
- 3Y*
- 27.00%
- 5Y*
- 15.58%
- 10Y*
- —
AM
- 1D
- 0.28%
- 1M
- -3.27%
- YTD
- 22.27%
- 6M
- 20.24%
- 1Y
- 18.26%
- 3Y*
- 33.36%
- 5Y*
- 24.91%
- 10Y*
- 7.42%
URNM vs. AM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
URNM NorthShore Global Uranium Mining ETF | 11.97% | 40.78% | -14.13% | 57.80% | -11.86% | 78.32% | 68.36% | 3.70% |
AM Antero Midstream Corporation | 22.27% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | 65.36% |
Correlation
The correlation between URNM and AM is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019 | 0.34 |
Over the past year, the correlation between URNM and AM has dropped to 0.03 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
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Return for Risk
URNM vs. AM — Risk / Return Rank
URNM
AM
URNM vs. AM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NorthShore Global Uranium Mining ETF (URNM) and Antero Midstream Corporation (AM). 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.
| URNM | AM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.16 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.45 | +0.20 |
| Martin ratioReturn relative to average drawdown | 3.59 | 3.03 | +0.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| URNM | AM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 0.88 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.94 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.13 | +0.54 |
Drawdowns
URNM vs. AM - Drawdown Comparison
The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum AM drawdown of -93.01%. Use the drawdown chart below to compare losses from any high point for URNM and AM.
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Drawdown Indicators
| URNM | AM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.78% | -93.01% | +42.23% |
Max Drawdown (1Y)Largest decline over 1 year | -32.04% | -12.67% | -19.37% |
Max Drawdown (3Y)Largest decline over 3 years | -50.78% | -13.98% | -36.80% |
Max Drawdown (5Y)Largest decline over 5 years | -50.78% | -21.91% | -28.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.01% | — |
Current DrawdownCurrent decline from peak | -26.82% | -8.94% | -17.88% |
Average DrawdownAverage peak-to-trough decline | -18.03% | -31.45% | +13.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.71% | 6.05% | +8.66% |
Volatility
URNM vs. AM - Volatility Comparison
NorthShore Global Uranium Mining ETF (URNM) has a higher volatility of 16.19% compared to Antero Midstream Corporation (AM) at 6.38%. This indicates that URNM's price experiences larger fluctuations and is considered to be riskier than AM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URNM | AM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.19% | 6.38% | +9.81% |
Volatility (6M)Calculated over the trailing 6-month period | 40.32% | 14.56% | +25.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.69% | 20.89% | +30.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.30% | 26.60% | +21.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.90% | 42.01% | +4.89% |
Dividends
URNM vs. AM - Dividend Comparison
URNM's dividend yield for the trailing twelve months is around 2.84%, less than AM's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.23% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
URNM NorthShore Global Uranium Mining ETF | 2.84% | 3.18% | 3.18% | 3.63% | 0.00% | 6.70% | 2.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
URNM and AM have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URNM has higher volatility (16.19%) compared to AM (6.38%). In terms of maximum drawdown, URNM dropped -50.78% vs AM's -93.01%.
URNM currently has the higher Sharpe Ratio (1.03 vs 0.88), 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.
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