URNM vs. DNN
URNM (Sprott Uranium Miners ETF) is Uranium fund tracking the VettaFi Global Uranium Miners Index, while DNN (Denison Mines Corp) is a stock. Over the past 5 years, URNM returned 13.97%/yr vs 20.63%/yr for DNN. Their correlation of 0.82 means they have usually moved in the same direction.
Performance
URNM vs. DNN - Performance Comparison
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Returns By Period
In the year-to-date period, URNM achieves a -11.51% return, which is significantly lower than DNN's 5.64% return.
URNM
- 1D
- -1.78%
- 1M
- -8.06%
- 6M
- -34.68%
- YTD
- -11.51%
- 1Y
- 12.09%
- 3Y*
- 15.53%
- 5Y*
- 13.97%
- 10Y*
- —
- ALL TIME*
- 25.97%
DNN
- 1D
- -3.77%
- 1M
- -12.19%
- 6M
- -29.04%
- YTD
- 5.64%
- 1Y
- 37.75%
- 3Y*
- 29.97%
- 5Y*
- 20.63%
- 10Y*
- 18.38%
- ALL TIME*
- -5.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $65.08M | $73.42M | $78.76M | |
| $16.15M | $21.14M | $35.55M |
URNM vs. DNN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
URNM Sprott Uranium Miners ETF | -11.51% | 40.78% | -14.13% | 57.80% | -11.86% | 78.32% | 68.36% | 4.05% |
DNN Denison Mines Corp | 5.64% | 47.78% | 1.69% | 53.91% | -16.06% | 111.75% | 54.05% | 0.00% |
Correlation
The correlation between URNM and DNN is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019 | 0.82 |
The correlation between URNM and DNN has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
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Return for Risk
URNM vs. DNN — Risk / Return Rank
URNM
DNN
URNM vs. DNN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Uranium Miners ETF (URNM) and Denison Mines Corp (DNN). 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 | DNN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.14 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 0.93 | -0.68 |
| Martin ratioReturn relative to average drawdown | 0.54 | 2.06 | -1.52 |
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Drawdowns
URNM vs. DNN - Drawdown Comparison
The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum DNN drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for URNM and DNN.
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Drawdown Indicators
| URNM | DNN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.78% | -98.96% | +48.18% |
Max Drawdown (1Y)Largest decline over 1 year | -43.89% | -38.44% | -5.45% |
Max Drawdown (3Y)Largest decline over 3 years | -50.78% | -52.48% | +1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -50.78% | -55.66% | +4.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.90% | — |
Current DrawdownCurrent decline from peak | -42.17% | -85.43% | +43.26% |
Average DrawdownAverage peak-to-trough decline | -18.48% | -85.04% | +66.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.85% | 17.40% | +3.45% |
Volatility
URNM vs. DNN - Volatility Comparison
The current volatility for Sprott Uranium Miners ETF (URNM) is 13.67%, while Denison Mines Corp (DNN) has a volatility of 19.39%. This indicates that URNM experiences smaller price fluctuations and is considered to be less risky than DNN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URNM | DNN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.67% | 19.39% | -5.72% |
Volatility (6M)Calculated over the trailing 6-month period | 39.86% | 45.38% | -5.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.26% | 61.39% | -8.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.65% | 63.15% | -14.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.95% | 64.50% | -17.55% |
Dividends
URNM vs. DNN - Dividend Comparison
URNM's dividend yield for the trailing twelve months is around 3.59%, while DNN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
DNN Denison Mines Corp | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
URNM Sprott Uranium Miners ETF | 3.59% | 3.18% | 3.18% | 3.63% | 0.00% | 6.70% | 2.57% |
Frequently Asked Questions
With a correlation of 0.90, URNM and DNN 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.
DNN has higher volatility (19.39%) compared to URNM (13.67%). In terms of maximum drawdown, URNM dropped -50.78% vs DNN's -98.96%.
DNN currently has the higher Sharpe Ratio (0.58 vs 0.21), 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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