XME vs. METL

Last updated Jun 5, 2026

XME (SPDR S&P Metals & Mining ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index, while METL is a Commodity Producers Equities fund actively managed by Sprott. XME is passively managed, while METL is actively managed. Their correlation of 0.86 suggests significant overlap in exposure. XME charges 0.35%/yr vs 0.89%/yr for METL.

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.

Returns By Period

In the year-to-date period, XME achieves a 24.24% return, which is significantly higher than METL's 17.82% return.

XME

• 1D: 0.09%
• 1M: 8.22%
• YTD: 24.24%
• 6M: 27.86%
• 1Y: 101.48%
• 3Y*: 40.70%
• 5Y*: 23.61%
• 10Y*: 19.99%

METL

• 1D: -0.44%
• 1M: 4.46%
• YTD: 17.82%
• 6M: 23.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XME vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
XME SPDR S&P Metals & Mining ETF	24.24%	22.35%
METL Sprott Active Metals & Miners ETF	17.82%	27.04%

Correlation

The correlation between XME and METL is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025	0.86

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: 78
XME Sharpe Ratio Rank: 88
XME Sortino Ratio Rank: 76
XME Omega Ratio Rank: 75
XME Calmar Ratio Rank: 84
XME Martin Ratio Rank: 64

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	2.95	—	—
Sortino ratio: Return per unit of downside risk	3.38	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	4.51	—	—
Martin ratio: Return relative to average drawdown	11.48	—	—
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	2.95	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	1.69	-1.51

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 (3Y) Largest decline over 3 years	-30.47%	—	—
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	-3.15%	-10.67%	+7.52%
Average Drawdown Average peak-to-trough decline	-44.14%	-8.13%	-36.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.87%	—	—

Volatility

Volatility by Period

	XME	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	26.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	34.61%	43.83%	-9.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.54%	43.83%	-11.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.84%	43.83%	-10.99%

XME vs. METL - Expense Ratio Comparison

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

Dividends

XME vs. METL - Dividend Comparison

XME's dividend yield for the trailing twelve months is around 0.30%, less than METL's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
METL Sprott Active Metals & Miners ETF	0.84%	0.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XME SPDR S&P Metals & Mining ETF	0.30%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

Can I hold both XME and METL in my portfolio?

XME and METL have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XME or METL?

On fees, XME is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XME or METL?

XME is cheaper with a 0.35% expense ratio, compared with 0.89% for METL.

Which ETF pays a higher dividend yield, XME or METL?

METL has the higher dividend yield at 0.84%, compared with 0.30% for XME.

What is the main difference between XME and METL?

XME is categorized as Materials, while METL is Commodity Producers Equities. They also come from different issuers: State Street and Sprott. Their fees differ too: 0.35% for XME and 0.89% for METL.