The Sprott Funds are at historically very low premiums and, when compared to the Central Funds, look cheap.
As I recall the Central Funds are a tougher short. Still, as the chart at the bottom shows, PHYS and PSLV have underperformed the Spicer funds this year.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipJX8aoMPFXcBGyh6NdTJfv47WTSJFZhh3fjLlI4vFLm_Jmfkk58VwXY7O91XY3xVn6jwokrtm9dslpeUJuTzUbO4b7bCQ6IZCAZrYa8Cp71X5fY37oPuQmf5HU58K36SqrsN80CY308Q/s640/ytd.png)