URNM vs. METL

Last updated Jun 24, 2026

URNM (Sprott Uranium Miners ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - URNM is a Uranium fund tracking the VettaFi Global Uranium Miners Index, while METL is a Natural Resources fund actively managed by Sprott. URNM is passively managed, while METL is actively managed. A 0.78 correlation means they provide meaningful diversification when combined. URNM charges 0.85%/yr vs 0.89%/yr for METL.

Performance

URNM vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Uranium Miners ETF (URNM) and Sprott Active Metals & Miners ETF (METL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URNM achieves a 1.46% return, which is significantly lower than METL's 5.42% return.

URNM

• 1D: -0.87%
• 1M: -4.35%
• YTD: 1.46%
• 6M: -1.45%
• 1Y: 24.41%
• 3Y*: 23.19%
• 5Y*: 15.05%
• 10Y*: —

METL

• 1D: -4.31%
• 1M: -5.33%
• YTD: 5.42%
• 6M: 3.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URNM vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
URNM Sprott Uranium Miners ETF	1.46%	5.23%
METL Sprott Active Metals & Miners ETF	5.42%	28.19%

Correlation

The correlation between URNM and METL is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.78

Return for Risk

URNM vs. METL — Risk / Return Rank

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

URNM

URNM Risk / Return Rank: 17
URNM Sharpe Ratio Rank: 16
URNM Sortino Ratio Rank: 19
URNM Omega Ratio Rank: 18
URNM Calmar Ratio Rank: 16
URNM Martin Ratio Rank: 16

METL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Uranium Miners ETF (URNM) and Sprott Active Metals & Miners ETF (METL). 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	METL	Difference
Sharpe ratio: Return per unit of total volatility	0.47	—	—
Sortino ratio: Return per unit of downside risk	1.02	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	0.63	—	—
Martin ratio: Return relative to average drawdown	1.48	—	—

Drawdowns

URNM vs. METL - Drawdown Comparison

The maximum URNM drawdown since its inception was -50.78%, which is greater than METL's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for URNM and METL.

Drawdown Indicators

	URNM	METL	Difference
Max Drawdown Largest peak-to-trough decline	-50.78%	-27.39%	-23.39%
Max Drawdown (1Y) Largest decline over 1 year	-38.72%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-50.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-50.78%	—	—
Current Drawdown Current decline from peak	-33.69%	-20.07%	-13.62%
Average Drawdown Average peak-to-trough decline	-18.14%	-8.64%	-9.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.54%	—	—

Volatility

Volatility by Period

	URNM	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	41.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	52.32%	45.01%	+7.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.56%	45.01%	+3.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.03%	45.01%	+2.02%

URNM vs. METL - Expense Ratio Comparison

URNM has a 0.85% expense ratio, which is lower than METL's 0.89% expense ratio.

Dividends

URNM vs. METL - Dividend Comparison

URNM's dividend yield for the trailing twelve months is around 3.13%, more than METL's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
METL Sprott Active Metals & Miners ETF	0.94%	0.99%	0.00%	0.00%	0.00%	0.00%	0.00%
URNM Sprott Uranium Miners ETF	3.13%	3.18%	3.18%	3.63%	0.00%	6.70%	2.57%

Frequently Asked Questions

Can I hold both URNM and METL in my portfolio?

URNM and METL have a correlation of 0.78, 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 or METL?

On fees, URNM is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, URNM or METL?

URNM is cheaper with a 0.85% expense ratio, compared with 0.89% for METL.

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

URNM has the higher dividend yield at 3.13%, compared with 0.94% for METL.

What is the main difference between URNM and METL?

URNM is categorized as Uranium, while METL is Natural Resources. Their fees differ too: 0.85% for URNM and 0.89% for METL.