URNM vs. SPPP
URNM (Sprott Uranium Miners ETF) and SPPP (Sprott Physical Platinum and Palladium Trust) are both exchange-traded funds - URNM is a Uranium fund tracking the VettaFi Global Uranium Miners Index, while SPPP is a Precious Metals fund actively managed by Sprott. URNM is passively managed, while SPPP is actively managed. Over the past 5 years, URNM returned 13.97%/yr vs -5.73%/yr for SPPP. Their 0.35 correlation means their historical movements had little consistent relationship. URNM charges 0.85%/yr vs 0.73%/yr for SPPP.
Performance
URNM vs. SPPP - 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 SPPP's -20.37% 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%
SPPP
- 1D
- -0.45%
- 1M
- 2.92%
- 6M
- -23.46%
- YTD
- -20.37%
- 1Y
- 11.19%
- 3Y*
- 6.70%
- 5Y*
- -5.73%
- 10Y*
- 5.20%
- ALL TIME*
- 2.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.18M | $7.41M | $7.46M | |
| $16.15M | $21.14M | $35.55M |
URNM vs. SPPP - 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% |
SPPP Sprott Physical Platinum and Palladium Trust | -20.37% | 89.43% | -11.89% | -25.86% | -2.37% | -21.77% | 23.84% | 6.36% |
Correlation
The correlation between URNM and SPPP is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019 | 0.35 |
The correlation between URNM and SPPP shifts across timeframes, from 0.35 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
URNM vs. SPPP — Risk / Return Rank
URNM
SPPP
URNM vs. SPPP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Uranium Miners ETF (URNM) and Sprott Physical Platinum and Palladium Trust (SPPP). 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 | SPPP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.09 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 0.27 | -0.02 |
| Martin ratioReturn relative to average drawdown | 0.54 | 0.52 | +0.01 |
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Drawdowns
URNM vs. SPPP - Drawdown Comparison
The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum SPPP drawdown of -59.09%. Use the drawdown chart below to compare losses from any high point for URNM and SPPP.
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Drawdown Indicators
| URNM | SPPP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.78% | -59.09% | +8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -43.89% | -45.66% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -50.78% | -45.66% | -5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -50.78% | -58.50% | +7.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.09% | — |
Current DrawdownCurrent decline from peak | -42.17% | -40.61% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -18.48% | -26.65% | +8.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.85% | 23.99% | -3.14% |
Volatility
URNM vs. SPPP - Volatility Comparison
Sprott Uranium Miners ETF (URNM) has a higher volatility of 13.67% compared to Sprott Physical Platinum and Palladium Trust (SPPP) at 10.26%. This indicates that URNM's price experiences larger fluctuations and is considered to be riskier than SPPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URNM | SPPP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.67% | 10.26% | +3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 39.86% | 39.09% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.26% | 51.22% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.65% | 35.26% | +13.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.95% | 33.39% | +13.56% |
URNM vs. SPPP - Expense Ratio Comparison
URNM has a 0.85% expense ratio, which is higher than SPPP's 0.73% expense ratio.
Dividends
URNM vs. SPPP - Dividend Comparison
URNM's dividend yield for the trailing twelve months is around 3.59%, while SPPP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
SPPP Sprott Physical Platinum and Palladium 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 SPPP have a correlation of 0.51, 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 SPPP (10.26%). In terms of maximum drawdown, URNM dropped -50.78% vs SPPP's -59.09%.
On 5-year performance, URNM leads with 13.97% vs -5.73% for SPPP. On fees, SPPP is cheaper at 0.73% per year. On volatility, SPPP has been the lower-risk option at 10.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, URNM has performed better with a 13.97% return vs -5.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPPP is cheaper with a 0.73% expense ratio, compared with 0.85% for URNM.
URNM has the higher dividend yield at 3.59%, compared with 0.00% for SPPP.
URNM is categorized as Uranium, while SPPP is Precious Metals. Their fees differ too: 0.85% for URNM and 0.73% for SPPP.
SPPP currently has the higher Sharpe Ratio (0.25 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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