Sprott Active Gold & Silver Miners ETF

GBUG

Market cap $172M

While gold has proved to be a hot commodity for the last few months, some naysayers have looked at March's short-term volatility as a reason to stay away from the precious metal for now.

The Sprott Active Gold & Silver Miners ETF offers actively managed exposure to undervalued gold and silver miners, targeting long-term capital appreciation. GBUG's diversified portfolio, low single-stock concentration, and 1.45% yield provide risk mitigation and outperform both GDX and the S&P 500 since inception. Despite recent sector outperformance, GBUG holdings trade at attractive valuations, with forward P/E ratios generally below the S&P 500, suggesting further upside as gold prices rise.

In recent months, there has been a lot of discussion about the importance of amplifying the domestic production and supply chains for rare earths in the United States. Given that China maintains a significant hold over the global market, the U.S. looking to increase its own rare earths presence makes a good deal of sense.

Key Takeaways While energy investments of all kinds have struggled amid conflict in the Middle East, uranium might offer a compelling long-term opportunity. Sprott Asset Management CEO John Ciampaglia noted that uranium's fundamentals remain sound, and that it remains far harder to substitute or replace than other metals investors tend to allocate towards.

Silver is entering its sixth consecutive year of a structural supply deficit, as global production fails to keep pace with the massive demand required for the clean energy transition and AI infrastructure.

Despite falling below $5,000 recently, it could be an opportune time to strike and purchase the dip in gold prices. Fundamental demand drivers could continue to push the precious metal higher through the rest of the year.

Gold and silver may have begun the new year on a positive note, but now advisors and investors are questioning which direction the metals will take next.  Last Friday, prices for gold and silver alike tumbled in response to President Trump nominating Kevin Warsh to be the next chair of the Federal Reserve.

The precious metals rally that began in 2024 has carried into 2026. Over the past year, gold has gained more than 70% while silver has gained more than 194%.

For years, some investors have seemed to fixate on mega-cap tech stocks, viewing many of these companies as among the most compelling ways to play the market.

It's been a year since the debut of the Sprott Silver Miners & Physical Silver ETF (SLVR) and the fund is more lustrous than ever. With over $730 million in assets and about $450 million inflows in 2025, the index fund accomplished this feat in a year of fever-pitched demand for active.