URNM vs. FXZ

Last updated Jun 4, 2026

URNM (NorthShore Global Uranium Mining ETF) and FXZ (First Trust Materials AlphaDEX Fund) are both exchange-traded funds - URNM is a Commodity Producers Equities fund tracking the North Shore Global Uranium Mining Index, while FXZ is a Materials fund tracking the StrataQuant Materials Index. Both are passively managed. Over the past 5 years, URNM returned 15.58%/yr vs 7.84%/yr for FXZ. At a 0.46 correlation, their price movements are largely independent. URNM charges 0.85%/yr vs 0.67%/yr for FXZ.

Performance

URNM vs. FXZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NorthShore Global Uranium Mining ETF (URNM) and First Trust Materials AlphaDEX Fund (FXZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URNM achieves a 11.97% return, which is significantly lower than FXZ's 29.62% return.

URNM

• 1D: -5.94%
• 1M: -7.38%
• YTD: 11.97%
• 6M: 10.07%
• 1Y: 52.67%
• 3Y*: 27.00%
• 5Y*: 15.58%
• 10Y*: —

FXZ

• 1D: -0.40%
• 1M: 5.70%
• YTD: 29.62%
• 6M: 33.34%
• 1Y: 53.31%
• 3Y*: 13.07%
• 5Y*: 7.84%
• 10Y*: 11.67%

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

URNM vs. FXZ - 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%
FXZ First Trust Materials AlphaDEX Fund	29.62%	16.25%	-16.31%	16.27%	-0.92%	30.84%	22.52%	3.29%

Correlation

The correlation between URNM and FXZ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.46

The correlation between URNM and FXZ shifts across timeframes, from 0.36 (3 years) to 0.47 (5 years), reflecting how their relationship changes across market environments.

URNM vs. FXZ - Sectors Allocation Comparison

Sectors	URNM	FXZ
Energy	97.4%	-
Basic Materials	2.6%	75.7%
Communication Services	-	-
Consumer Cyclical	-	3.9%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	20.4%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

URNM vs. FXZ — Risk / Return Rank

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

URNM

URNM Risk / Return Rank: 29
URNM Sharpe Ratio Rank: 28
URNM Sortino Ratio Rank: 30
URNM Omega Ratio Rank: 28
URNM Calmar Ratio Rank: 33
URNM Martin Ratio Rank: 26

FXZ

FXZ Risk / Return Rank: 74
FXZ Sharpe Ratio Rank: 75
FXZ Sortino Ratio Rank: 70
FXZ Omega Ratio Rank: 66
FXZ Calmar Ratio Rank: 81
FXZ Martin Ratio Rank: 80

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.

URNM vs. FXZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NorthShore Global Uranium Mining ETF (URNM) and First Trust Materials AlphaDEX Fund (FXZ). 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	FXZ	Difference
Sharpe ratio: Return per unit of total volatility	1.03	2.45	-1.42
Sortino ratio: Return per unit of downside risk	1.66	3.21	-1.55
Omega ratio: Gain probability vs. loss probability	1.19	1.40	-0.21
Calmar ratio: Return relative to maximum drawdown	1.65	4.20	-2.55
Martin ratio: Return relative to average drawdown	3.59	15.80	-12.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URNM vs. FXZ - Sharpe Ratio Comparison

The current URNM Sharpe Ratio is 1.03, which is lower than the FXZ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of URNM and FXZ, 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

	URNM	FXZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	2.45	-1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.33	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.35	+0.32

Drawdowns

URNM vs. FXZ - Drawdown Comparison

The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum FXZ drawdown of -65.46%. Use the drawdown chart below to compare losses from any high point for URNM and FXZ.

Drawdown Indicators

	URNM	FXZ	Difference
Max Drawdown Largest peak-to-trough decline	-50.78%	-65.46%	+14.68%
Max Drawdown (1Y) Largest decline over 1 year	-32.04%	-12.75%	-19.29%
Max Drawdown (3Y) Largest decline over 3 years	-50.78%	-33.99%	-16.79%
Max Drawdown (5Y) Largest decline over 5 years	-50.78%	-33.99%	-16.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.41%	—
Current Drawdown Current decline from peak	-26.82%	-0.40%	-26.42%
Average Drawdown Average peak-to-trough decline	-18.03%	-11.36%	-6.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.71%	3.38%	+11.33%

Volatility

URNM vs. FXZ - Volatility Comparison

NorthShore Global Uranium Mining ETF (URNM) has a higher volatility of 16.19% compared to First Trust Materials AlphaDEX Fund (FXZ) at 7.04%. This indicates that URNM's price experiences larger fluctuations and is considered to be riskier than FXZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URNM	FXZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.19%	7.04%	+9.15%
Volatility (6M) Calculated over the trailing 6-month period	40.32%	16.40%	+23.92%
Volatility (1Y) Calculated over the trailing 1-year period	51.69%	21.87%	+29.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.30%	24.13%	+24.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.90%	24.87%	+22.03%

URNM vs. FXZ - Expense Ratio Comparison

URNM has a 0.85% expense ratio, which is higher than FXZ's 0.67% expense ratio.

Dividends

URNM vs. FXZ - Dividend Comparison

URNM's dividend yield for the trailing twelve months is around 2.84%, more than FXZ's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXZ First Trust Materials AlphaDEX Fund	1.38%	1.74%	1.81%	1.97%	1.56%	1.11%	1.51%	1.58%	1.38%	1.01%	1.19%	1.26%
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

Can I hold both URNM and FXZ in my portfolio?

URNM and FXZ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URNM or FXZ?

URNM has higher volatility (16.19%) compared to FXZ (7.04%). In terms of maximum drawdown, URNM dropped -50.78% vs FXZ's -65.46%.

Which ETF is better, URNM or FXZ?

On 5-year performance, URNM leads with 15.58% vs 7.84% for FXZ. On fees, FXZ is cheaper at 0.67% per year. On volatility, FXZ has been the lower-risk option at 7.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URNM or FXZ?

Over the 5-year period, URNM has performed better with a 15.58% return vs 7.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URNM or FXZ?

FXZ is cheaper with a 0.67% expense ratio, compared with 0.85% for URNM.

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

URNM has the higher dividend yield at 2.84%, compared with 1.38% for FXZ.

What is the main difference between URNM and FXZ?

URNM is categorized as Commodity Producers Equities, while FXZ is Materials. URNM tracks North Shore Global Uranium Mining Index, while FXZ tracks StrataQuant Materials Index. They also come from different issuers: Exchange Traded Concepts and First Trust. Their fees differ too: 0.85% for URNM and 0.67% for FXZ.

Which has better risk-adjusted returns?

FXZ currently has the higher Sharpe Ratio (2.45 vs 1.03), 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.