METL vs SPY
Sprott Active Metals & Miners ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, METL or SPY?
Commodities against Large Cap Blend.
SPY has a lower expense ratio. METL led over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 39.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | METL | SPY |
|---|---|---|
| Expense Ratio | 0.99% | 0.09%Best |
| AUM | $88M | $804.7B |
| Dividend Yield | 0.87% | 0.98% |
| Holdings | 43 | 505 |
| YTD Return | +7.24% | +11.52%Best |
| 1Y Return | +40.66%Best | +17.48% |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 38.3% | 13.3%Best |
| Top 10 Weight | 39.0% | 38.0%Best |
| Fund Family | Sprott ETFS | State Street Investment Management |
| Category | Commodity | Equity |
| Style | Commodities | Large Cap Blend |
| Inception | Sep 9, 2025 | Jan 22, 1993 |
Not shown on this pair: Max Drawdown, $10,000 over the window.
METL vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
METL vs SPY Performance
Sprott Active Metals & Miners ETF (METL) is an ETF from Sprott ETFS and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year METL returned +40.66% while SPY returned +17.48%. Year to date, METL is up 7.24% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
METL has been the more volatile fund, with annualized monthly volatility of 38.3% compared with 13.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.52. They move together some of the time, and apart the rest.
Fees and Cost Over Time
METL charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, METL currently yields 0.87% against 0.98% for SPY.
Holdings Overlap
10.8% of METL's money is in holdings SPY also owns. 0.2% of SPY's money is in holdings METL also owns.
METL and SPY share little of their money.
3 positions in common, counted across the 42 positions we hold weights for in METL and 504 in SPY, against full books of 43 and 505.
What only one of them owns
Our book lists 491 positions for SPY that do not appear in our book for METL (99.3% of the fund), and 6 for METL that do not appear in SPY (12.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of METL and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, METL or SPY?
METL has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option, by $90 a year on a $10,000 investment.
Which performed better, METL or SPY?
Over the past year METL returned +40.66% vs +17.48% for SPY, so METL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, METL or SPY?
METL has been the more volatile fund at 38.3% annualized versus 13.3% for SPY.
Should I hold both METL and SPY?
METL and SPY have a monthly-return correlation of 0.52, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between METL and SPY?
10.8% of METL's money is in holdings SPY also owns. 0.2% of SPY's is in holdings METL also owns. They hold 3 positions in common, counted across the 42 positions we hold weights for in METL and 504 in SPY.
Which pays a higher dividend, METL or SPY?
METL yields 0.87% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than METL?
SPY has a lower expense ratio. METL led over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 39.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.