INFL vs SGDM
Horizon Kinetics Inflation Beneficiaries ETF vs Sprott Gold Miners ETF
Which is better, INFL or SGDM?
Each has led over a different period.
SGDM has a lower expense ratio. INFL led over 1Y, SGDM over 3Y, 5Y and the full window. INFL is less concentrated, with 47.4% of the fund in its ten largest positions against 55.2%.
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 | INFL | SGDM |
|---|---|---|
| Expense Ratio | 0.85% | 0.46%Best |
| AUM | $1.6B | $645M |
| Dividend Yield | 0.80% | 0.98% |
| Holdings | 96 | 50 |
| YTD Return | +13.97%Best | +0.92% |
| 1Y Return | +15.65%Best | +9.78% |
| 3Y Return (annualized) | +19.83% | +44.13%Best |
| 5Y Return (annualized) | +12.04% | +21.87%Best |
| Volatility (annualized) | 17.4%Best | 36.2% |
| Max Drawdown | -21.3%Best | -45.1% |
| $10,000 over 5 years | $17,655 | $26,883Best |
| Top 10 Weight | 47.4%Best | 55.2% |
| Fund Family | Horizon Kinetics LLC | Sprott ETFS |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Mid Cap Growth |
| Inception | Jan 11, 2021 | Jul 14, 2014 |
Volatility and max drawdown are measured over the window both funds cover: Jan 12, 2021 to Oct 14, 2026 (5.8 years).
INFL vs SGDM 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 covers the 5.8 years both funds cover.
INFL vs SGDM Performance
Horizon Kinetics Inflation Beneficiaries ETF (INFL) is an ETF from Horizon Kinetics LLC and Sprott Gold Miners ETF (SGDM) is an ETF from Sprott ETFS. Over the past year INFL returned +15.65% while SGDM returned +9.78%. Year to date, INFL is up 13.97% versus a gain of 0.92% for SGDM.
Over three years, INFL compounded at +19.83% per year against +44.13% for SGDM; over five years the annualized figures are +12.04% and +21.87% respectively. Across the full 6-year window we track, SGDM has the edge at +16.93% annualized vs +14.50%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SGDM has been the more volatile fund, with annualized monthly volatility of 36.2% compared with 17.4% for INFL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -21.3% for INFL and -45.1% for SGDM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.57. They move together some of the time, and apart the rest.
Fees and Cost Over Time
INFL charges 0.85% per year while SGDM charges 0.46%. On a $10,000 position that is $85 vs $46 annually, a gap of $39 per year that compounds over a long holding period. On income, INFL currently yields 0.80% against 0.98% for SGDM.
Holdings Overlap
16.2% of INFL's money is in holdings SGDM also owns. 18.2% of SGDM's money is in holdings INFL also owns.
SGDM and INFL share little of their money.
4 positions in common, counted across the 47 positions we hold weights for in INFL and 49 in SGDM, against full books of 96 and 50.
What only one of them owns
Our book lists 8 positions for SGDM that do not appear in our book for INFL (17.8% of the fund), and 25 for INFL that do not appear in SGDM (51.5%).
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 INFL and SGDM 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, INFL or SGDM?
INFL has an expense ratio of 0.85% while SGDM charges 0.46%. SGDM is the cheaper option, by $39 a year on a $10,000 investment.
Which performed better, INFL or SGDM?
Over the past year INFL returned +15.65% vs +9.78% for SGDM, so INFL leads on 1-year performance. Over the longest common window we track (6 years), INFL annualized +14.50% vs +16.93% for SGDM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, INFL or SGDM?
SGDM has been the more volatile fund at 36.2% annualized versus 17.4% for INFL. Worst drawdown: INFL -21.3% vs SGDM -45.1%.
Should I hold both INFL and SGDM?
INFL and SGDM have a monthly-return correlation of 0.57, 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 INFL and SGDM?
18.2% of SGDM's money is in holdings INFL also owns. 18.2% of SGDM's is in holdings INFL also owns. They hold 4 positions in common, counted across the 47 positions we hold weights for in INFL and 49 in SGDM.
Which pays a higher dividend, INFL or SGDM?
INFL yields 0.80% while SGDM yields 0.98%, so SGDM currently pays the higher dividend yield.
Is SGDM better than INFL?
SGDM has a lower expense ratio. INFL led over 1Y, SGDM over 3Y, 5Y and the full window. INFL is less concentrated, with 47.4% of the fund in its ten largest positions against 55.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.