URNM vs. URAA

Last updated Jun 24, 2026

URNM (Sprott Uranium Miners ETF) and URAA (Direxion Daily Uranium Industry Bull 2X Shares) are both Uranium funds - URNM tracks the VettaFi Global Uranium Miners Index while URAA tracks the Solactive United States Uranium and Nuclear Energy ETF Select Index (200%). Both are passively managed. Over the past year, URNM returned 24.41% vs 12.19% for URAA. Their correlation of 0.95 suggests significant overlap in exposure. URNM charges 0.85%/yr vs 1.28%/yr for URAA.

Performance

URNM vs. URAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Uranium Miners ETF (URNM) and Direxion Daily Uranium Industry Bull 2X Shares (URAA). 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 higher than URAA's -9.67% return.

URNM

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

URAA

• 1D: -4.65%
• 1M: -15.31%
• YTD: -9.67%
• 6M: -17.37%
• 1Y: 12.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URNM vs. URAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URNM Sprott Uranium Miners ETF	1.46%	40.78%	-15.83%
URAA Direxion Daily Uranium Industry Bull 2X Shares	-9.67%	88.33%	-25.73%

Correlation

The correlation between URNM and URAA is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	0.95

The correlation between URNM and URAA has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

URNM vs. URAA - Sectors Allocation Comparison

Sectors	URNM	URAA
Energy	97.7%	62.5%
Basic Materials	2.3%	2.9%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	17.0%
Real Estate	-	-
Technology	-	1.0%
Utilities	-	16.6%

Return for Risk

URNM vs. URAA — 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

URAA

URAA Risk / Return Rank: 13
URAA Sharpe Ratio Rank: 10
URAA Sortino Ratio Rank: 17
URAA Omega Ratio Rank: 16
URAA Calmar Ratio Rank: 11
URAA Martin Ratio Rank: 11

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. URAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Uranium Miners ETF (URNM) and Direxion Daily Uranium Industry Bull 2X Shares (URAA). 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	URAA	Difference
Sharpe ratio: Return per unit of total volatility	0.47	0.13	+0.34
Sortino ratio: Return per unit of downside risk	1.02	0.89	+0.13
Omega ratio: Gain probability vs. loss probability	1.12	1.10	+0.02
Calmar ratio: Return relative to maximum drawdown	0.63	0.20	+0.43
Martin ratio: Return relative to average drawdown	1.48	0.41	+1.07

URNM vs. URAA - Sharpe Ratio Comparison

The current URNM Sharpe Ratio is 0.47, which is higher than the URAA Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of URNM and URAA, 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. URAA - Drawdown Comparison

The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum URAA drawdown of -67.45%. Use the drawdown chart below to compare losses from any high point for URNM and URAA.

Drawdown Indicators

	URNM	URAA	Difference
Max Drawdown Largest peak-to-trough decline	-50.78%	-67.45%	+16.67%
Max Drawdown (1Y) Largest decline over 1 year	-38.72%	-59.83%	+21.11%
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%	-54.51%	+20.82%
Average Drawdown Average peak-to-trough decline	-18.14%	-27.88%	+9.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.54%	29.60%	-13.06%

Volatility

URNM vs. URAA - Volatility Comparison

The current volatility for Sprott Uranium Miners ETF (URNM) is 17.96%, while Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a volatility of 31.95%. This indicates that URNM experiences smaller price fluctuations and is considered to be less risky than URAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URNM	URAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.96%	31.95%	-13.99%
Volatility (6M) Calculated over the trailing 6-month period	41.68%	74.39%	-32.71%
Volatility (1Y) Calculated over the trailing 1-year period	52.32%	95.72%	-43.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.56%	89.60%	-41.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.03%	89.60%	-42.57%

URNM vs. URAA - Expense Ratio Comparison

URNM has a 0.85% expense ratio, which is lower than URAA's 1.28% expense ratio.

Dividends

URNM vs. URAA - Dividend Comparison

URNM's dividend yield for the trailing twelve months is around 3.13%, less than URAA's 11.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
URAA Direxion Daily Uranium Industry Bull 2X Shares	11.26%	9.14%	4.36%	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 URAA in my portfolio?

With a correlation of 0.95, URNM and URAA 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 URAA?

URAA has higher volatility (31.95%) compared to URNM (17.96%). In terms of maximum drawdown, URNM dropped -50.78% vs URAA's -67.45%.

Which ETF is better, URNM or URAA?

On 1-year performance, URNM leads with 24.41% vs 12.19% for URAA. On fees, URNM is cheaper at 0.85% per year. On volatility, URNM has been the lower-risk option at 17.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URNM or URAA?

Over the 1-year period, URNM has performed better with a 24.41% return vs 12.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URNM or URAA?

URNM is cheaper with a 0.85% expense ratio, compared with 1.28% for URAA.

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

URAA has the higher dividend yield at 11.26%, compared with 3.13% for URNM.

What is the main difference between URNM and URAA?

URNM tracks VettaFi Global Uranium Miners Index, while URAA tracks Solactive United States Uranium and Nuclear Energy ETF Select Index (200%). They also come from different issuers: Sprott and Direxion. Their fees differ too: 0.85% for URNM and 1.28% for URAA.

Which has better risk-adjusted returns?

URNM currently has the higher Sharpe Ratio (0.47 vs 0.13), 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.