Overview
Smart-beta gold miners ETF weighted by revenue growth, free cash flow yield, and low debt. Quality-filtered senior gold miners with Agnico Eagle and Franco-Nevada as top holdings. Outperformed GDX in the 2025 gold bull market.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| AEM | Agnico Eagle Mines | 18.4% |
| FNV | Franco-Nevada | 14.8% |
| WPM | Wheaton Precious | 12.4% |
| RGLD | Royal Gold | 10.8% |
| NEM | Newmont Corp. | 8.4% |
| KGC | Kinross Gold | 6.8% |
| AGI | Alamos Gold | 5.8% |
| AU | AngloGold Ashanti | 5.4% |
| NST | Northern Star | 4.8% |
| GFI | Gold Fields | 4.2% |
Fund Details
Investment Thesis
SGDM uses a smart-beta weighting methodology that selects and weights gold mining companies based on financial quality metrics — revenue growth, free cash flow yield, and debt-to-equity — rather than simple market cap. This systematically overweights miners with superior financial discipline and underweights those with stretched balance sheets. The royalty and streaming company weighting through Franco-Nevada and Royal Gold adds higher-quality exposure with less operational risk. During gold bull markets, financially strong miners capture more margin leverage, driving SGDM's consistent outperformance versus cap-weighted peers.
Who It's For
Gold mining investors who want a quality-filtered approach to senior miners rather than simple market-cap weighting. SGDM suits those who believe financially stronger mining companies with better free cash flow and lower debt should outperform the sector average. Sprott's deep precious metals expertise is embedded in the index construction methodology. A quality step up from cap-weighted gold miner ETFs like GDX for long-term precious metals investors.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $22.42 | -- |
| 2017 | $24.82 | +10.7% |
| 2018 | $21.42 | -13.7% |
| 2019 | $28.42 | +32.7% |
| 2020 | $38.42 | +35.2% |
| 2021 | $32.42 | -15.6% |
| 2022 | $26.42 | -18.5% |
| 2023 | $32.42 | +22.7% |
| 2024 | $44.42 | +37.0% |
| 2025 | $82.72 | +86.2% |
| Year | Yield |
|---|---|
| 2016 | 0.72% |
| 2017 | 0.62% |
| 2018 | 0.72% |
| 2019 | 0.62% |
| 2020 | 0.52% |
| 2021 | 0.44% |
| 2022 | 0.58% |
| 2023 | 0.52% |
| 2024 | 0.62% |
| 2025 | 0.72% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.3B | -- |
| 2017 | $0.4B | +33.3% |
| 2018 | $0.3B | -25.0% |
| 2019 | $0.4B | +33.3% |
| 2020 | $0.7B | +75.0% |
| 2021 | $0.5B | -28.6% |
| 2022 | $0.4B | -20.0% |
| 2023 | $0.5B | +25.0% |
| 2024 | $0.6B | +20.0% |
| 2025 | $0.62B | +3.3% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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