XME vs. METL

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR S&P Metals & Mining ETF (XME) and Sprott Active Metals & Miners ETF (METL).

XME and METL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XME is a passively managed fund by State Street that tracks the performance of the S&P Metals & Mining Select Industry Index. It was launched on Jun 19, 2006. METL is an actively managed fund by Sprott. It was launched on Sep 9, 2025.

Performance

XME vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Metals & Mining ETF (XME) and Sprott Active Metals & Miners ETF (METL). The values are adjusted to include any dividend payments, if applicable.

XME vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
XME SPDR S&P Metals & Mining ETF	6.14%	22.35%
METL Sprott Active Metals & Miners ETF	8.85%	27.04%

Returns By Period

In the year-to-date period, XME achieves a 6.14% return, which is significantly lower than METL's 8.85% return.

XME

• 1D: 1.75%
• 1M: -9.91%
• YTD: 6.14%
• 6M: 15.52%
• 1Y: 97.42%
• 3Y*: 28.24%
• 5Y*: 23.31%
• 10Y*: 19.75%

METL

• 1D: 2.29%
• 1M: -14.76%
• YTD: 8.85%
• 6M: 25.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XME vs. METL - Expense Ratio Comparison

XME has a 0.35% expense ratio, which is lower than METL's 0.89% expense ratio.

METL

Sprott Active Metals & Miners ETF

XME

SPDR S&P Metals & Mining ETF

Return for Risk

XME vs. METL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XME

XME Risk / Return Rank: 94
XME Sharpe Ratio Rank: 97
XME Sortino Ratio Rank: 95
XME Omega Ratio Rank: 93
XME Calmar Ratio Rank: 95
XME Martin Ratio Rank: 90

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.

XME vs. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Metals & Mining ETF (XME) and Sprott Active Metals & Miners ETF (METL). 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.

	XME	METL	Difference
Sharpe ratio Return per unit of total volatility	2.74	—	—
Sortino ratio Return per unit of downside risk	3.15	—	—
Omega ratio Gain probability vs. loss probability	1.43	—	—
Calmar ratio Return relative to maximum drawdown	4.30	—	—
Martin ratio Return relative to average drawdown	12.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XME	METL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	1.77	-1.62

Correlation

The correlation between XME and METL is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XME vs. METL - Dividend Comparison

XME's dividend yield for the trailing twelve months is around 0.35%, less than METL's 0.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XME SPDR S&P Metals & Mining ETF	0.35%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%
METL Sprott Active Metals & Miners ETF	0.91%	0.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

XME vs. METL - Drawdown Comparison

The maximum XME drawdown since its inception was -85.89%, which is greater than METL's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for XME and METL.

Drawdown Indicators

	XME	METL	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-27.39%	-58.50%
Max Drawdown (1Y) Largest decline over 1 year	-22.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.69%	—	—
Current Drawdown Current decline from peak	-16.34%	-17.47%	+1.13%
Average Drawdown Average peak-to-trough decline	-44.44%	-6.83%	-37.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.94%	—	—

Volatility

Volatility by Period

	XME	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.81%	44.84%	-9.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.47%	44.84%	-12.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.97%	44.84%	-11.87%