URNM vs. URA

Last updated Jun 24, 2026

URNM (Sprott Uranium Miners ETF) and URA (Global X Uranium ETF) are both Uranium funds - URNM tracks the VettaFi Global Uranium Miners Index while URA tracks the Solactive Global Uranium & Nuclear Components Total Return Index. Both are passively managed. Over the past 5 years, URNM returned 15.05%/yr vs 20.40%/yr for URA. Their correlation of 0.94 suggests significant overlap in exposure. URNM charges 0.85%/yr vs 0.69%/yr for URA.

Performance

URNM vs. URA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Uranium Miners ETF (URNM) and Global X Uranium ETF (URA). 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 URA's 6.67% return.

URNM

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

URA

• 1D: -2.61%
• 1M: -6.90%
• YTD: 6.67%
• 6M: 2.57%
• 1Y: 27.21%
• 3Y*: 34.68%
• 5Y*: 20.40%
• 10Y*: 16.42%

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

URNM vs. URA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
URNM Sprott Uranium Miners ETF	1.46%	40.78%	-14.13%	57.80%	-11.86%	78.32%	68.36%	4.05%
URA Global X Uranium ETF	6.67%	67.18%	-0.58%	46.25%	-11.32%	57.57%	41.33%	3.53%

Correlation

The correlation between URNM and URA is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.94

The correlation between URNM and URA has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

URNM vs. URA - Sectors Allocation Comparison

Sectors	URNM	URA
Energy	97.7%	64.2%
Basic Materials	2.3%	4.8%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	22.7%
Real Estate	-	-
Technology	-	0.9%
Utilities	-	7.4%

Return for Risk

URNM vs. URA — 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

URA

URA Risk / Return Rank: 19
URA Sharpe Ratio Rank: 17
URA Sortino Ratio Rank: 20
URA Omega Ratio Rank: 19
URA Calmar Ratio Rank: 20
URA Martin Ratio Rank: 18

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. URA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Uranium Miners ETF (URNM) and Global X Uranium ETF (URA). 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	URA	Difference
Sharpe ratio: Return per unit of total volatility	0.47	0.53	-0.06
Sortino ratio: Return per unit of downside risk	1.02	1.09	-0.07
Omega ratio: Gain probability vs. loss probability	1.12	1.13	-0.01
Calmar ratio: Return relative to maximum drawdown	0.63	0.87	-0.24
Martin ratio: Return relative to average drawdown	1.48	1.87	-0.39

URNM vs. URA - Sharpe Ratio Comparison

The current URNM Sharpe Ratio is 0.47, which is comparable to the URA Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of URNM and URA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

URNM vs. URA - Drawdown Comparison

The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum URA drawdown of -93.54%. Use the drawdown chart below to compare losses from any high point for URNM and URA.

Drawdown Indicators

	URNM	URA	Difference
Max Drawdown Largest peak-to-trough decline	-50.78%	-93.54%	+42.76%
Max Drawdown (1Y) Largest decline over 1 year	-38.72%	-31.48%	-7.24%
Max Drawdown (3Y) Largest decline over 3 years	-50.78%	-37.81%	-12.97%
Max Drawdown (5Y) Largest decline over 5 years	-50.78%	-37.90%	-12.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.45%	—
Current Drawdown Current decline from peak	-33.69%	-48.27%	+14.58%
Average Drawdown Average peak-to-trough decline	-18.14%	-74.90%	+56.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.54%	14.58%	+1.96%

Volatility

URNM vs. URA - Volatility Comparison

Sprott Uranium Miners ETF (URNM) and Global X Uranium ETF (URA) have volatilities of 17.96% and 17.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URNM	URA	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.96%	17.86%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	41.68%	39.53%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	52.32%	51.33%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.56%	43.92%	+4.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.03%	37.95%	+9.08%

URNM vs. URA - Expense Ratio Comparison

URNM has a 0.85% expense ratio, which is higher than URA's 0.69% expense ratio.

Dividends

URNM vs. URA - Dividend Comparison

URNM's dividend yield for the trailing twelve months is around 3.13%, less than URA's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
URA Global X Uranium ETF	4.57%	4.88%	2.86%	6.07%	0.76%	5.84%	1.69%	1.66%	0.44%	2.03%	7.28%	1.96%
URNM Sprott Uranium Miners ETF	3.13%	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 URA in my portfolio?

With a correlation of 0.92, URNM and URA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, URNM or URA?

URNM has higher volatility (17.96%) compared to URA (17.86%). In terms of maximum drawdown, URNM dropped -50.78% vs URA's -93.54%.

Which ETF is better, URNM or URA?

On 5-year performance, URA leads with 20.40% vs 15.05% for URNM. On fees, URA is cheaper at 0.69% per year. On volatility, URA has been the lower-risk option at 17.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URNM or URA?

Over the 5-year period, URA has performed better with a 20.40% return vs 15.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URNM or URA?

URA is cheaper with a 0.69% expense ratio, compared with 0.85% for URNM.

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

URA has the higher dividend yield at 4.57%, compared with 3.13% for URNM.

What is the main difference between URNM and URA?

URNM tracks VettaFi Global Uranium Miners Index, while URA tracks Solactive Global Uranium & Nuclear Components Total Return Index. They also come from different issuers: Sprott and Global X. Their fees differ too: 0.85% for URNM and 0.69% for URA.

Which has better risk-adjusted returns?

URA currently has the higher Sharpe Ratio (0.53 vs 0.47), 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.