AEM.TO vs. XLK

Last updated Jun 13, 2026

AEM.TO (Agnico Eagle Mines Limited) is a stock, while XLK (State Street Technology Select Sector SPDR ETF) is Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Over the past 10 years, AEM.TO returned 15.41%/yr vs 26.27%/yr for XLK. At a 0.07 correlation, their price movements are largely independent.

Performance

AEM.TO vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Agnico Eagle Mines Limited (AEM.TO) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AEM.TO is traded in CAD, while XLK is traded in USD. To make them comparable, the XLK values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AEM.TO achieves a -1.88% return, which is significantly lower than XLK's 31.13% return. Over the past 10 years, AEM.TO has underperformed XLK with an annualized return of 15.41%, while XLK has yielded a comparatively higher 26.27% annualized return.

AEM.TO

• 1D: 3.40%
• 1M: -8.01%
• YTD: -1.88%
• 6M: -1.40%
• 1Y: 35.72%
• 3Y*: 53.43%
• 5Y*: 24.09%
• 10Y*: 15.41%

XLK

• 1D: 1.05%
• 1M: 4.96%
• YTD: 31.13%
• 6M: 30.81%
• 1Y: 59.71%
• 3Y*: 32.23%
• 5Y*: 25.59%
• 10Y*: 26.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AEM.TO vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AEM.TO Agnico Eagle Mines Limited	-1.88%	109.63%	58.54%	6.65%	8.01%	-23.56%	13.64%	46.58%	-4.22%	3.57%
XLK State Street Technology Select Sector SPDR ETF	31.13%	18.92%	31.93%	52.31%	-23.15%	34.68%	40.21%	43.68%	6.59%	25.17%

Correlation

The correlation between AEM.TO and XLK is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006	0.07

The correlation between AEM.TO and XLK shifts across timeframes, from 0.07 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AEM.TO vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AEM.TO

AEM.TO Risk / Return Rank: 66
AEM.TO Sharpe Ratio Rank: 71
AEM.TO Sortino Ratio Rank: 64
AEM.TO Omega Ratio Rank: 65
AEM.TO Calmar Ratio Rank: 63
AEM.TO Martin Ratio Rank: 67

XLK

XLK Risk / Return Rank: 76
XLK Sharpe Ratio Rank: 85
XLK Sortino Ratio Rank: 76
XLK Omega Ratio Rank: 78
XLK Calmar Ratio Rank: 75
XLK Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AEM.TO vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM.TO) and State Street Technology Select Sector SPDR ETF (XLK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AEM.TO	XLK	Difference
Sharpe ratio: Return per unit of total volatility	0.88	2.51	-1.63
Sortino ratio: Return per unit of downside risk	1.33	3.10	-1.78
Omega ratio: Gain probability vs. loss probability	1.18	1.41	-0.23
Calmar ratio: Return relative to maximum drawdown	1.00	3.52	-2.52
Martin ratio: Return relative to average drawdown	2.79	10.37	-7.59

AEM.TO vs. XLK - Sharpe Ratio Comparison

The current AEM.TO Sharpe Ratio is 0.88, which is lower than the XLK Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of AEM.TO and XLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AEM.TO vs. XLK - Drawdown Comparison

The maximum AEM.TO drawdown since its inception was -70.33%, which is greater than XLK's maximum drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for AEM.TO and XLK.

Drawdown Indicators

	AEM.TO	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-70.33%	-38.68%	-31.65%
Max Drawdown (1Y) Largest decline over 1 year	-38.24%	-16.16%	-22.08%
Max Drawdown (3Y) Largest decline over 3 years	-38.24%	-26.35%	-11.89%
Max Drawdown (5Y) Largest decline over 5 years	-40.24%	-29.64%	-10.60%
Max Drawdown (10Y) Largest decline over 10 years	-55.07%	-29.64%	-25.43%
Current Drawdown Current decline from peak	-33.88%	-5.87%	-28.01%
Average Drawdown Average peak-to-trough decline	-29.18%	-7.56%	-21.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.73%	5.48%	+8.25%

Volatility

AEM.TO vs. XLK - Volatility Comparison

Agnico Eagle Mines Limited (AEM.TO) has a higher volatility of 15.84% compared to State Street Technology Select Sector SPDR ETF (XLK) at 10.83%. This indicates that AEM.TO's price experiences larger fluctuations and is considered to be riskier than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEM.TO	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.84%	10.83%	+5.01%
Volatility (6M) Calculated over the trailing 6-month period	35.38%	19.12%	+16.26%
Volatility (1Y) Calculated over the trailing 1-year period	43.51%	22.68%	+20.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.15%	25.91%	+9.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.00%	25.57%	+10.43%

Dividends

AEM.TO vs. XLK - Dividend Comparison

AEM.TO's dividend yield for the trailing twelve months is around 1.03%, more than XLK's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM.TO Agnico Eagle Mines Limited	1.03%	0.97%	1.95%	2.98%	2.81%	2.08%	1.34%	0.81%	0.80%	0.77%	0.75%	0.95%
XLK State Street Technology Select Sector SPDR ETF	0.41%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both AEM.TO and XLK in my portfolio?

AEM.TO and XLK have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.