Sprott Nickel Miners ETF (NIKL) Performance
NIKL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −29.2% since Dec 31, 2025
- 1 year
- −23.5% total return
- 3 years
- −5.5% a year
- Since first price
- −10.0% a year since 2023
NIKL trailing returns vs SPY, QQQ, AGG
| Period | NIKL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −21.7% | −21.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −16.0% | −16.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −35.3% | −35.3% | +7.8% | +8.4% | −1.5% |
| YTD | −29.2% | −29.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −23.5% | −25.7% | +14.4% | +15.9% | −1.1% |
| 3 years | −15.6%−5.5%/yr | −34.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMar 22, 2023 | −31.5%−10.0%/yr | −46.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: NIKL vs SPY
From Mar 22, 2023: NIKL grew to $6,852, SPY to $20,243.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NIKL returns by calendar year
1 of 2 full years positive. Best 2025 (+52.1%), worst 2024 (−22.5%). 2026 is year to date.
NIKL annual returns table
| Year | NIKL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −29.2% | −45.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +52.1% | −31.4% | +17.7% | +20.8% | +7.2% |
| 2024 | −22.5% | −32.3% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
NIKL largest drawdowns
Now 45.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 13, 2023 | −60.2% | Apr 8, 2025 | Jan 6, 2026 | 1.7 years | 2.5 years |
| Jan 26, 2026 | −45.9% | Oct 23, 2026 | not yet | 9 months | 9 months so far |
| Apr 19, 2023 | −11.7% | May 25, 2023 | Jul 12, 2023 | 36 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
NIKL risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | −3.4% | −6.9% |
| Volatility (annualized) | 34.9% | 33.2% |
| Sharpe ratio | -0.05 | -0.19 |
| Sortino ratio | -0.08 | -0.26 |
| Best month | +17.2% | +17.2% |
| Worst month | −20.4% | −20.4% |
| Best 12 months | +118.0% | +118.0% |
| Worst 12 months | −30.5% | −30.6% |
| Positive months | 42% | 40% |
| Beta vs S&P 500 | 0.85 | — |
| Correlation with S&P 500 | 0.30 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
NIKL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 32 | −30.6% | −7.9% | +118.0% | 41% |
| 3-year (a year) | 8 | −8.9% | −2.9% | +0.5% | 12% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
NIKL performance overview
Sprott Nickel Miners ETF (NIKL) returned −23.5% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned −10.0% a year, turning $10,000 into about $6,852. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −60.2%, from Jul 13, 2023 to Apr 8, 2025, and it took 9 months to get back to the old high. Volatility has been 33.2% a year.
Related: NIKL chart, NIKL holdings, NIKL dividends. See the NIKL overview for the latest quote and fund facts.
NIKL performance FAQ
What is the NIKL return over the past year?
NIKL returned −23.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 25.7%.
How much would $10,000 invested in NIKL be worth?
$10,000 invested in NIKL at its first recorded close on March 22, 2023 would be worth about $6,852 on October 23, 2026 with distributions reinvested.
What was the worst year for NIKL?
The worst calendar year was 2024, with a total return of −22.5%. The best was 2025 at +52.1%.
What is the biggest drawdown of NIKL?
The largest peak-to-trough decline was −60.2% between July 13, 2023 and April 8, 2025. It recovered to the old high on January 6, 2026, 9 months after the bottom.
How volatile is NIKL?
Over the past 3 years NIKL had an annualized volatility of 34.9% and a Sharpe ratio of -0.05 (excess return over 1–3 month T-bills per unit of risk).