Traversing terrain with good traction is crucial for achieving fast off-road navigation. Instead of manually designing costs based on terrain features, existing methods learn terrain properties directly from data via self-supervision, but challenges remain to properly quantify and mitigate risks due to uncertainties in learned models. This work efficiently quantifies both aleatoric and epistemic uncertainties by learning discrete traction distributions and probability densities of the traction predictor's latent features. Leveraging evidential deep learning, we parameterize Dirichlet distributions with the network outputs and propose a novel uncertainty-aware squared Earth Mover's distance loss with a closed-form expression that improves learning accuracy and navigation performance. The proposed risk-aware planner simulates state trajectories with the worst-case expected traction to handle aleatoric uncertainty, and penalizes trajectories moving through terrain with high epistemic uncertainty. Our approach is extensively validated in simulation and on wheeled and quadruped robots, showing improved navigation performance compared to methods that assume no slip, assume the expected traction, or optimize for the worst-case expected cost.