XME vs. SETM

Last updated Jun 23, 2026

XME (SPDR S&P Metals & Mining ETF) and SETM (Sprott Critical Materials ETF) are both Materials funds - XME tracks the S&P Metals & Mining Select Industry Index while SETM tracks the Nasdaq Sprott Critical Materials Index. Both are passively managed. Over the past 3 years, XME returned 34.03%/yr vs 26.89%/yr for SETM. A 0.78 correlation means they provide meaningful diversification when combined. XME charges 0.35%/yr vs 0.65%/yr for SETM.

Performance

XME vs. SETM - Performance Comparison

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

Returns By Period

In the year-to-date period, XME achieves a 11.35% return, which is significantly lower than SETM's 15.89% return.

XME

• 1D: -1.47%
• 1M: -1.51%
• YTD: 11.35%
• 6M: 7.66%
• 1Y: 76.71%
• 3Y*: 34.03%
• 5Y*: 23.02%
• 10Y*: 18.97%

SETM

• 1D: -1.73%
• 1M: -4.22%
• YTD: 15.89%
• 6M: 15.21%
• 1Y: 105.69%
• 3Y*: 26.89%
• 5Y*: —
• 10Y*: —

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

XME vs. SETM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XME SPDR S&P Metals & Mining ETF	11.35%	83.47%	-4.54%	4.05%
SETM Sprott Critical Materials ETF	15.89%	95.27%	-13.24%	-13.11%

Correlation

The correlation between XME and SETM is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.78

The correlation between XME and SETM has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

XME vs. SETM - Sectors Allocation Comparison

Sectors	XME	SETM
Basic Materials	76.3%	76.0%
Energy	22.5%	22.9%
Technology	2.2%	0.1%
Consumer Defensive	0.8%	0.1%
Industrials	0.4%	1.0%
Communication Services	-	-
Consumer Cyclical	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XME vs. SETM — Risk / Return Rank

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

XME

XME Risk / Return Rank: 60
XME Sharpe Ratio Rank: 68
XME Sortino Ratio Rank: 57
XME Omega Ratio Rank: 56
XME Calmar Ratio Rank: 70
XME Martin Ratio Rank: 50

SETM

SETM Risk / Return Rank: 67
SETM Sharpe Ratio Rank: 74
SETM Sortino Ratio Rank: 56
SETM Omega Ratio Rank: 58
SETM Calmar Ratio Rank: 81
SETM 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.

XME vs. SETM - Risk-Adjusted Trends Comparison

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

	XME	SETM	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.29	-0.15
Sortino ratio: Return per unit of downside risk	2.63	2.59	+0.04
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	3.41	4.11	-0.70
Martin ratio: Return relative to average drawdown	8.38	11.83	-3.45

XME vs. SETM - Sharpe Ratio Comparison

The current XME Sharpe Ratio is 2.13, which is comparable to the SETM Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of XME and SETM, 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

XME vs. SETM - Drawdown Comparison

The maximum XME drawdown since its inception was -85.89%, which is greater than SETM's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for XME and SETM.

Drawdown Indicators

	XME	SETM	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-42.81%	-43.08%
Max Drawdown (1Y) Largest decline over 1 year	-22.60%	-25.85%	+3.25%
Max Drawdown (3Y) Largest decline over 3 years	-30.47%	-42.81%	+12.34%
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	-13.20%	-15.55%	+2.35%
Average Drawdown Average peak-to-trough decline	-44.06%	-15.02%	-29.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.19%	8.96%	+0.23%

Volatility

XME vs. SETM - Volatility Comparison

The current volatility for SPDR S&P Metals & Mining ETF (XME) is 13.87%, while Sprott Critical Materials ETF (SETM) has a volatility of 16.80%. This indicates that XME experiences smaller price fluctuations and is considered to be less risky than SETM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XME	SETM	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.87%	16.80%	-2.93%
Volatility (6M) Calculated over the trailing 6-month period	28.09%	37.30%	-9.21%
Volatility (1Y) Calculated over the trailing 1-year period	36.21%	46.57%	-10.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.72%	37.18%	-4.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.93%	37.18%	-4.25%

XME vs. SETM - Expense Ratio Comparison

XME has a 0.35% expense ratio, which is lower than SETM's 0.65% expense ratio.

Dividends

XME vs. SETM - Dividend Comparison

XME's dividend yield for the trailing twelve months is around 0.40%, less than SETM's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SETM Sprott Critical Materials ETF	1.35%	1.56%	2.07%	2.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XME SPDR S&P Metals & Mining ETF	0.40%	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 SETM in my portfolio?

XME and SETM have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XME or SETM?

SETM has higher volatility (16.80%) compared to XME (13.87%). In terms of maximum drawdown, XME dropped -85.89% vs SETM's -42.81%.

Which ETF is better, XME or SETM?

On 3-year performance, XME leads with 34.03% vs 26.89% for SETM. On fees, XME is cheaper at 0.35% per year. On volatility, XME has been the lower-risk option at 13.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XME or SETM?

Over the 3-year period, XME has performed better with a 34.03% return vs 26.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XME or SETM?

XME is cheaper with a 0.35% expense ratio, compared with 0.65% for SETM.

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

SETM has the higher dividend yield at 1.35%, compared with 0.40% for XME.

What is the main difference between XME and SETM?

XME tracks S&P Metals & Mining Select Industry Index, while SETM tracks Nasdaq Sprott Critical Materials Index. They also come from different issuers: State Street and Sprott. Their fees differ too: 0.35% for XME and 0.65% for SETM.

Which has better risk-adjusted returns?

SETM currently has the higher Sharpe Ratio (2.29 vs 2.13), 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.