URNM vs. PSLV
URNM (Sprott Uranium Miners ETF) and PSLV (Sprott Physical Silver Trust) are both exchange-traded funds - URNM is a Uranium fund tracking the VettaFi Global Uranium Miners Index, while PSLV is a Silver fund tracking the No Index (Physical Silver). Both are passively managed. Over the past 5 years, URNM returned 13.97%/yr vs 16.13%/yr for PSLV. Their 0.35 correlation means their historical movements had little consistent relationship. URNM charges 0.85%/yr vs 0.51%/yr for PSLV.
Performance
URNM vs. PSLV - Performance Comparison
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Returns By Period
In the year-to-date period, URNM achieves a -11.51% return, which is significantly higher than PSLV's -20.51% 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%
PSLV
- 1D
- -1.98%
- 1M
- -3.34%
- 6M
- -28.81%
- YTD
- -20.51%
- 1Y
- 50.16%
- 3Y*
- 31.33%
- 5Y*
- 16.13%
- 10Y*
- 8.96%
- ALL TIME*
- 4.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $153.19M | $135.68M | $193.34M | |
| $16.15M | $21.14M | $35.55M |
URNM vs. PSLV - 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% |
PSLV Sprott Physical Silver Trust | -20.51% | 145.08% | 19.43% | -1.94% | 2.74% | -14.13% | 42.81% | 3.97% |
Correlation
The correlation between URNM and PSLV is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019 | 0.35 |
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Return for Risk
URNM vs. PSLV — Risk / Return Rank
URNM
PSLV
URNM vs. PSLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Uranium Miners ETF (URNM) and Sprott Physical Silver Trust (PSLV). 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 | PSLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.20 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 1.02 | -0.76 |
| Martin ratioReturn relative to average drawdown | 0.54 | 1.99 | -1.45 |
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Drawdowns
URNM vs. PSLV - Drawdown Comparison
The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum PSLV drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for URNM and PSLV.
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Drawdown Indicators
| URNM | PSLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.78% | -79.38% | +28.60% |
Max Drawdown (1Y)Largest decline over 1 year | -43.89% | -50.83% | +6.94% |
Max Drawdown (3Y)Largest decline over 3 years | -50.78% | -50.83% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -50.78% | -50.83% | +0.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.83% | — |
Current DrawdownCurrent decline from peak | -42.17% | -48.29% | +6.12% |
Average DrawdownAverage peak-to-trough decline | -18.48% | -58.02% | +39.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.85% | 25.92% | -5.07% |
Volatility
URNM vs. PSLV - Volatility Comparison
Sprott Uranium Miners ETF (URNM) has a higher volatility of 13.67% compared to Sprott Physical Silver Trust (PSLV) at 11.59%. This indicates that URNM's price experiences larger fluctuations and is considered to be riskier than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URNM | PSLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.67% | 11.59% | +2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 39.86% | 55.13% | -15.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.26% | 61.20% | -7.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.65% | 36.54% | +12.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.95% | 31.54% | +15.41% |
URNM vs. PSLV - Expense Ratio Comparison
URNM has a 0.85% expense ratio, which is higher than PSLV's 0.51% expense ratio.
Dividends
URNM vs. PSLV - Dividend Comparison
URNM's dividend yield for the trailing twelve months is around 3.59%, while PSLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
PSLV Sprott Physical Silver Trust | 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
URNM and PSLV have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URNM has higher volatility (13.67%) compared to PSLV (11.59%). In terms of maximum drawdown, URNM dropped -50.78% vs PSLV's -79.38%.
On 5-year performance, PSLV leads with 16.13% vs 13.97% for URNM. On fees, PSLV is cheaper at 0.51% per year. On volatility, PSLV has been the lower-risk option at 11.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PSLV has performed better with a 16.13% return vs 13.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSLV is cheaper with a 0.51% expense ratio, compared with 0.85% for URNM.
URNM has the higher dividend yield at 3.59%, compared with 0.00% for PSLV.
URNM is categorized as Uranium, while PSLV is Silver. URNM tracks VettaFi Global Uranium Miners Index, while PSLV tracks No Index (Physical Silver). Their fees differ too: 0.85% for URNM and 0.51% for PSLV.
PSLV currently has the higher Sharpe Ratio (0.84 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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