SII vs WT: How Sprott and WisdomTree Compare (2026)
Last updated August 2026
Short answer
SII and WT are similarly sized, but WT trades noticeably cheaper on forward earnings (15.10x vs 26.05x): the market is paying up for SII's profile and pricing WT more conservatively, or for faster growth. Which you prefer comes down to the drivers you believe, and whether adding either over-concentrates what you already own.
SII vs WT: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | SII | WT | What it tells you |
|---|---|---|---|
| Market cap | $2.98B | $2.96B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 26.05 | 15.10 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 35.26 | 35.22 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 1.35 | 1.18 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 50% of range | 82% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 7.85 | 6.09 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: WT is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how SII and WT affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. SII and WT share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined SII and WT exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Sprott (SII) do?
Sprott Inc. (NYSE and TSX: SII) is a specialist asset manager headquartered in Toronto with only about 131 employees. It manages money almost entirely in two areas: precious metals (physical gold and silver trusts, mining equity funds) and critical materials (uranium, copper, lithium, uranium miners and nuclear-adjacent ETFs). As of June 30, 2026 total assets under management were ~$55.6 billion, split across Exchange Listed Products (~$47.9 billion, of which ~$36.7 billion is precious metals and ~$11.2 billion is critical materials), Managed Equities (~$5.6 billion) and Private Strategies (~$2.0 billion). Its best-known vehicles are the Sprott Physical Gold Trust, the Sprott Physical Silver Trust, the Sprott Physical Uranium Trust and the Sprott Uranium Miners ETF, which made it the largest manager of uranium-linked investments in the world after the 2022 acquisition of the North Shore uranium ETF.
What does WisdomTree (WT) do?
WisdomTree is a New York-based global asset manager that designs and runs exchange-traded products, primarily ETFs, across equities, fixed income, commodities, currencies, and model portfolios. Like other ETF sponsors, it earns advisory fees calculated as a percentage of assets under management, so its revenue scales with the size of its funds. Growth comes from two sources: net inflows into its products (organic growth) and the appreciation of the assets already in those funds (market growth). WisdomTree differentiates through self-indexed and factor-based strategies rather than competing head-on as a pure low-cost passive provider, which lets it charge somewhat higher fees than the largest index giants.
SII vs WT: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- SII drivers: Precious metals AUM is the core engine; Critical materials and uranium as the second leg.
- WT drivers: Record AUM and strong organic flows; Operating leverage and margin expansion.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The dominant risk is that Sprott is a commodity price bet in disguise: a sustained drawdown in gold, silver or uranium shrinks AUM, fees and earnings at the same time, as the ~15% quarter-over-quarter AUM decline in Q2 2026 showed. For WT, the central risk is that WisdomTree's fee revenue is tied to AUM, so a market downturn or a reversal in fund flows would cut earnings directly, and outflows can compound the effect of falling markets.
SII or WT: which should you pick?
SII vs WT: the full fundamentals
SII. The trailing figures capture a period when gold and silver were at record levels, so they flatter the current run rate: AUM has since fallen from ~$65.1 billion at March 31, 2026 to ~$55.6 billion, and the trailing multiple of about 28x is being paid on peak-cycle earnings. The offset is that first-half 2026 net income of ~$63.5 million (~$2.46 per share) and adjusted EBITDA of ~$108.7 million (~$4.22 per share) were both still sharply higher year over year, and the compensation ratio improved to ~32%. How the valuation resolves depends almost entirely on where metals prices settle rather than on anything management controls.
WT. These are qualitative characterizations tied to the asOf date, not precise live figures; confirm current numbers before acting. WisdomTree's fundamentals have clearly improved (record AUM, fast revenue growth, expanding margins), but its earnings ride markets and flows, so a downturn could reverse the trend quickly. The gap between adjusted and GAAP results means headline EPS can look weak even in a strong operating quarter, so it helps to look at AUM, flows, and adjusted margins alongside reported earnings. The tokenization story is real optionality but should be weighed as an emerging bet, not a proven earnings driver.
Headline figures (approximate, August 2026): SII shows revenue (ttm) ~$399.7 million, up ~102% year over year, net income (ttm) ~$105.4 million, up ~111%, eps (ttm) ~$4.08 diluted, assets under management ~$55.6 billion at June 30, 2026 (~$55.3 billion at July 31, 2026); WT shows assets under management Record ~$153 billion in Q1 2026, a fifth straight record quarter, up sharply year over year, revenue trend Growing fast; Q1 2026 operating revenue ~$160 million, up ~48% year over year, flows Strong; several billion dollars of net inflows and a double-digit annualized organic growth rate, margins Expanding; adjusted operating margin rose several hundred basis points year over year.
The bottom line: SII vs WT
SII and WT are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined SII and WT exposure against your real portfolio. It is not an investment adviser.
Wondering how SII or WT fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Sprott with AI
Connect the broker you already use and ask Walnut's AI how SII fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between SII and WT?
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Sprott Inc. WisdomTree is a New York-based global asset manager that designs and runs exchange-traded products, primarily ETFs, across equities, fixed income, commodities, currencies, and model portfolios. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is SII or WT the better stock?
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Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, SII or WT?
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On forward P/E (as of August 2026), SII trades at 26.05x and WT at 15.10x, so WT is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both SII and WT?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of SII vs WT?
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SII: The dominant risk is that Sprott is a commodity price bet in disguise: a sustained drawdown in gold, silver or uranium shrinks AUM, fees and earnings at the same time, as the ~15% quarter-over-quarter AUM decline in Q2 2026 showed. Flows compound the price effect rather than offsetting it, since precious metals trusts saw ~$767 million of net outflows in the same quarter prices fell. Performance and carried-interest revenue is lumpy and can go to zero in a quarter, making earnings comparisons noisy. The company is also small (roughly 25.8 million shares outstanding and a market value near $3 billion), which means thin liquidity, a wide 52-week range of about $61.94 to $169.63, and price swings well beyond those of a typical asset manager. Finally, it is a Canadian issuer reporting in US dollars with concentrated product exposure, so a single mandate loss, a regulatory change affecting physical trusts, or a structural cooling in the nuclear investment theme would hit a large share of the fee base at once. WT: The central risk is that WisdomTree's fee revenue is tied to AUM, so a market downturn or a reversal in fund flows would cut earnings directly, and outflows can compound the effect of falling markets. Fee compression across the ETF industry is a structural headwind, as investors keep pushing toward the lowest-cost products offered by far larger rivals like BlackRock, Vanguard, and State Street. The digital-assets and tokenization business, while promising, is still small, unprofitable historically, and exposed to shifting crypto regulation and adoption uncertainty, so it may not pay off on the timeline bulls expect. WisdomTree is also a mid-sized manager competing against giants with vastly greater scale and distribution, and it has carried meaningful debt and reported GAAP losses in periods affected by non-operating items, so headline earnings can be noisy even when the underlying fee business is growing.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell SII or WT; figures are approximate and dated (as of August 2026). Verify current data before investing.