URNM vs. UROY

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 UROY (Uranium Royalty Corp) is a stock. Over the past 5 years, URNM returned 15.58%/yr vs 3.84%/yr for UROY. A 0.78 correlation means they provide meaningful diversification when combined.

Performance

URNM vs. UROY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NorthShore Global Uranium Mining ETF (URNM) and Uranium Royalty Corp (UROY). 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 UROY's 1.98% return.

URNM

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

UROY

• 1D: -6.72%
• 1M: -5.25%
• YTD: 1.98%
• 6M: -4.24%
• 1Y: 64.84%
• 3Y*: 20.76%
• 5Y*: 3.84%
• 10Y*: —

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

URNM vs. UROY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
URNM NorthShore Global Uranium Mining ETF	11.97%	40.78%	-14.13%	57.80%	-11.86%	30.41%
UROY Uranium Royalty Corp	1.98%	61.64%	-18.89%	13.92%	-35.07%	12.57%

Correlation

The correlation between URNM and UROY is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 29, 2021	0.78

The correlation between URNM and UROY has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

Return for Risk

URNM vs. UROY — 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

UROY

UROY Risk / Return Rank: 68
UROY Sharpe Ratio Rank: 68
UROY Sortino Ratio Rank: 69
UROY Omega Ratio Rank: 65
UROY Calmar Ratio Rank: 70
UROY Martin Ratio Rank: 66

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. UROY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NorthShore Global Uranium Mining ETF (URNM) and Uranium Royalty Corp (UROY). 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	UROY	Difference
Sharpe ratio: Return per unit of total volatility	1.03	0.89	+0.14
Sortino ratio: Return per unit of downside risk	1.66	1.70	-0.04
Omega ratio: Gain probability vs. loss probability	1.19	1.20	-0.01
Calmar ratio: Return relative to maximum drawdown	1.65	1.64	+0.01
Martin ratio: Return relative to average drawdown	3.59	3.04	+0.55
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. UROY - Sharpe Ratio Comparison

The current URNM Sharpe Ratio is 1.03, which is comparable to the UROY Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of URNM and UROY, 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	UROY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	0.89	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.05	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.03	+0.64

Drawdowns

URNM vs. UROY - Drawdown Comparison

The maximum URNM drawdown since its inception was -50.78%, smaller than the maximum UROY drawdown of -74.57%. Use the drawdown chart below to compare losses from any high point for URNM and UROY.

Drawdown Indicators

	URNM	UROY	Difference
Max Drawdown Largest peak-to-trough decline	-50.78%	-74.57%	+23.79%
Max Drawdown (1Y) Largest decline over 1 year	-32.04%	-39.74%	+7.70%
Max Drawdown (3Y) Largest decline over 3 years	-50.78%	-59.73%	+8.95%
Max Drawdown (5Y) Largest decline over 5 years	-50.78%	-74.57%	+23.79%
Current Drawdown Current decline from peak	-26.82%	-37.54%	+10.72%
Average Drawdown Average peak-to-trough decline	-18.03%	-47.60%	+29.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.71%	21.39%	-6.68%

Volatility

URNM vs. UROY - Volatility Comparison

The current volatility for NorthShore Global Uranium Mining ETF (URNM) is 16.19%, while Uranium Royalty Corp (UROY) has a volatility of 21.32%. This indicates that URNM experiences smaller price fluctuations and is considered to be less risky than UROY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URNM	UROY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.19%	21.32%	-5.13%
Volatility (6M) Calculated over the trailing 6-month period	40.32%	48.30%	-7.98%
Volatility (1Y) Calculated over the trailing 1-year period	51.69%	73.37%	-21.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.30%	70.64%	-22.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.90%	70.40%	-23.50%

Dividends

URNM vs. UROY - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020
URNM NorthShore Global Uranium Mining ETF	2.84%	3.18%	3.18%	3.63%	0.00%	6.70%	2.57%
UROY Uranium Royalty Corp	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URNM and UROY in my portfolio?

URNM and UROY have a correlation of 0.80, 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 UROY?

UROY has higher volatility (21.32%) compared to URNM (16.19%). In terms of maximum drawdown, URNM dropped -50.78% vs UROY's -74.57%.

Which has better risk-adjusted returns?

URNM currently has the higher Sharpe Ratio (1.03 vs 0.89), 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.