Sprott Gold Miners ETF

SGDM

Market cap $913M

Gold and gold mining ETFs remain a 'buy' as structural drivers—central bank buying, de-dollarization, and fiscal deficits—support sustained high gold prices. Miners like Agnico Eagle, Newmont, and Kinross are generating record free cash flow, strengthening balance sheets, and increasing shareholder returns. Despite a 65% gold rally in 2025, miners still trade at valuations assuming lower gold prices, presenting a valuation gap and further upside potential.

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.

SIL and SGDM both target precious metals miners, but SIL focuses on silver while SGDM is tilted toward gold. SGDM charges a slightly lower expense ratio and shows a smaller maximum drawdown over five years.

To say that the gold rally has captured significant investor interest over the past few months would likely be no understatement.  After all, the precious metal, much like its silver compatriot, is currently seeing its value pushed higher due to ongoing geopolitical worries.

Gold has always been one of the go-to assets when stomach-churning volatility forces queasy investors into safe havens. However, recent volatility has been challenging that safe haven narrative, and one of the drivers has been speculative trading activity in China ETFs.

SLVP delivered a higher one-year return, but with greater volatility and a steeper historical drawdown. SGDM charges a higher expense ratio but has a lower beta and less severe max drawdown over five years.

SGDM offers a 0.86% dividend yield because it invests in individual mining companies, while SLV offers none. Over the past year, both funds delivered triple-digit returns.

AAAU offers a lower expense ratio and much larger assets under management, but has minimal portfolio diversity. SGDM holds over 43 companies and has delivered an over 2x one-year return compared to AAAU.

The Sprott Gold Miners ETF has nearly doubled the return of the iShares Gold Trust over the past year, but it also has double the expense costs. SGDM holds a concentrated basket of gold mining stocks, while IAU directly tracks the price of physical gold.

TMX VettaFi writers Nick Wodeshick and Nick Peters-Golden kicked off 2026 with the first Bull vs Bear discussion on foreign equities. In this version, writers Ben Hernandez and DJ Shaw delve into the world of digital assets — specifically, crypto ETFs.