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Opinions Richard Orrell
Sprott Active Gold & Silver Miners ETFGBUGWAITJun 12, 2026
N/A
Stock price when the opinion was issued
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It's the ideal tool to help you make quicker, more informed decisions for managing and tracking your investments.
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Sprott is the largest and best provider of ETFs in the space, offering intelligently constructed indexes. Thinks that over 5 years, those ETFs will outperform others in the class. Part of him needs to say that he doesn't own the ETFs because he owns the parent. If you own the parent, you participate indirectly in all of the ETF and trust products. In addition, rather than paying a management fee, you receive a dividend.
So rather than isolate yourself in the upside of a small sector, you can own the whole resource space by owning SII.
Disclosure: He's the largest shareholder of Sprott, so saying nice things about the ETFs is in his own interest.
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Key word in the description is "active", compared to a number of passive ETFs in the space. It means a few additional expenses. Around only since early 2025, so not a long track record yet. Outperformed market since inception, but lagged a bit in last year.
If you're dead set on investing in those companies, it's an option. You just have to keep monitoring it. Personally, he'd wait for a 3-5 year track record to see if they're adding the alpha that they're promising. "Active" doesn't necessarily mean they'll beat the benchmark.
He prefers to be involved in the outright metals, because a lot can go wrong with individual companies and foreign jurisdictions.