URNM vs. SJT

Last updated Jun 4, 2026

URNM (NorthShore Global Uranium Mining ETF) is Commodity Producers Equities fund tracking the North Shore Global Uranium Mining Index, while SJT (San Juan Basin Royalty Trust) is a stock. Over the past 5 years, URNM returned 15.58%/yr vs 1.16%/yr for SJT. At a 0.22 correlation, their price movements are largely independent.

Performance

URNM vs. SJT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NorthShore Global Uranium Mining ETF (URNM) and San Juan Basin Royalty Trust (SJT). 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 higher than SJT's -32.38% return.

URNM

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

SJT

• 1D: -0.52%
• 1M: -16.48%
• YTD: -32.38%
• 6M: -34.14%
• 1Y: -41.81%
• 3Y*: -21.88%
• 5Y*: 1.16%
• 10Y*: 1.02%

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

URNM vs. SJT - 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%
SJT San Juan Basin Royalty Trust	-32.38%	46.74%	-22.92%	-50.02%	120.63%	163.80%	11.80%	10.05%

Correlation

The correlation between URNM and SJT is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.22

Over the past year, the correlation between URNM and SJT has dropped to 0.01 - well below their long-term average of 0.22, suggesting their price drivers have been diverging.

Return for Risk

URNM vs. SJT — 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

SJT

SJT Risk / Return Rank: 3
SJT Sharpe Ratio Rank: 2
SJT Sortino Ratio Rank: 4
SJT Omega Ratio Rank: 5
SJT Calmar Ratio Rank: 4
SJT Martin Ratio Rank: 1

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. SJT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NorthShore Global Uranium Mining ETF (URNM) and San Juan Basin Royalty Trust (SJT). 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	SJT	Difference
Sharpe ratio: Return per unit of total volatility	1.03	-1.18	+2.21
Sortino ratio: Return per unit of downside risk	1.66	-1.76	+3.42
Omega ratio: Gain probability vs. loss probability	1.19	0.80	+0.39
Calmar ratio: Return relative to maximum drawdown	1.65	-0.95	+2.60
Martin ratio: Return relative to average drawdown	3.59	-1.95	+5.55
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. SJT - Sharpe Ratio Comparison

The current URNM Sharpe Ratio is 1.03, which is higher than the SJT Sharpe Ratio of -1.18. The chart below compares the historical Sharpe Ratios of URNM and SJT, 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	SJT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	-1.18	+2.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.02	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.15	+0.52

Drawdowns

URNM vs. SJT - Drawdown Comparison

The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum SJT drawdown of -92.82%. Use the drawdown chart below to compare losses from any high point for URNM and SJT.

Drawdown Indicators

	URNM	SJT	Difference
Max Drawdown Largest peak-to-trough decline	-50.78%	-92.82%	+42.04%
Max Drawdown (1Y) Largest decline over 1 year	-32.04%	-44.36%	+12.32%
Max Drawdown (3Y) Largest decline over 3 years	-50.78%	-60.59%	+9.81%
Max Drawdown (5Y) Largest decline over 5 years	-50.78%	-73.47%	+22.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.54%	—
Current Drawdown Current decline from peak	-26.82%	-73.41%	+46.59%
Average Drawdown Average peak-to-trough decline	-18.03%	-37.64%	+19.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.71%	21.43%	-6.72%

Volatility

URNM vs. SJT - Volatility Comparison

NorthShore Global Uranium Mining ETF (URNM) has a higher volatility of 16.19% compared to San Juan Basin Royalty Trust (SJT) at 11.26%. This indicates that URNM's price experiences larger fluctuations and is considered to be riskier than SJT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URNM	SJT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.19%	11.26%	+4.93%
Volatility (6M) Calculated over the trailing 6-month period	40.32%	23.72%	+16.60%
Volatility (1Y) Calculated over the trailing 1-year period	51.69%	35.61%	+16.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.30%	48.22%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.90%	49.31%	-2.41%

Dividends

URNM vs. SJT - Dividend Comparison

URNM's dividend yield for the trailing twelve months is around 2.84%, while SJT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SJT San Juan Basin Royalty Trust	0.00%	0.00%	2.89%	21.81%	14.58%	12.67%	5.96%	6.85%	8.03%	10.19%	5.05%	8.81%
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 SJT in my portfolio?

URNM and SJT have a correlation of 0.01, 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 SJT?

URNM has higher volatility (16.19%) compared to SJT (11.26%). In terms of maximum drawdown, URNM dropped -50.78% vs SJT's -92.82%.

Which has better risk-adjusted returns?

URNM currently has the higher Sharpe Ratio (1.03 vs -1.18), 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.