PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
AEM.TO vs. XMA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AEM.TO vs. XMA.TO

Last updated Jun 13, 2026

AEM.TO (Agnico Eagle Mines Limited) is a stock, while XMA.TO (iShares S&P/TSX Capped Materials Index ETF) is Materials fund tracking the S&P/TSX Capped Materials TR. Over the past 10 years, AEM.TO returned 15.41%/yr vs 13.48%/yr for XMA.TO. Their correlation of 0.80 suggests significant overlap in exposure.

Performance

AEM.TO vs. XMA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Agnico Eagle Mines Limited (AEM.TO) and iShares S&P/TSX Capped Materials Index ETF (XMA.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, AEM.TO achieves a -1.88% return, which is significantly lower than XMA.TO's 1.98% return. Over the past 10 years, AEM.TO has outperformed XMA.TO with an annualized return of 15.41%, while XMA.TO has yielded a comparatively lower 13.48% 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%

XMA.TO

1D
3.03%
1M
-10.24%
YTD
1.98%
6M
3.38%
1Y
53.64%
3Y*
33.28%
5Y*
18.78%
10Y*
13.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AEM.TO vs. XMA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		1.98%99.21%20.72%-2.04%1.35%3.32%19.73%24.64%-10.44%7.12%

Correlation

The correlation between AEM.TO and XMA.TO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.91

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.84

Correlation (10Y)
Calculated over the trailing 10-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.80

The correlation between AEM.TO and XMA.TO shifts across timeframes, from 0.80 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Agnico Eagle Mines Limited

iShares S&P/TSX Capped Materials Index ETF

Often compared with AEM.TO:
AEM.TO vs. ABX.TOAEM.TO vs. AGIAEM.TO vs. GOLD.TOAEM.TO vs. XAUUSD=XAEM.TO vs. HBMAEM.TO vs. BTO.TOAEM.TO vs. WDO.TO
Often compared with XMA.TO:
XMA.TO vs. XGD.TOXMA.TO vs. XETM.TOXMA.TO vs. XIC.TOXMA.TO vs. ZUT.TOXMA.TO vs. XIT.TOXMA.TO vs. XEQT.TOXMA.TO vs. XBM.TO

Return for Risk

AEM.TO vs. XMA.TO — 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: 6666
Overall Rank
AEM.TO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
AEM.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
AEM.TO Omega Ratio Rank: 6565
Omega Ratio Rank
AEM.TO Calmar Ratio Rank: 6363
Calmar Ratio Rank
AEM.TO Martin Ratio Rank: 6767
Martin Ratio Rank
XMA.TO
XMA.TO Risk / Return Rank: 4444
Overall Rank
XMA.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
XMA.TO Sortino Ratio Rank: 3939
Sortino Ratio Rank
XMA.TO Omega Ratio Rank: 4747
Omega Ratio Rank
XMA.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
XMA.TO Martin Ratio Rank: 3838
Martin Ratio Rank
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. XMA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM.TO) and iShares S&P/TSX Capped Materials Index ETF (XMA.TO). 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.TOXMA.TODifference
Sharpe ratioReturn per unit of total volatility
0.88
1.46

-0.57

Sortino ratioReturn per unit of downside risk
1.33
1.83

-0.50

Omega ratioGain probability vs. loss probability

1.18

1.27

-0.09

Calmar ratioReturn relative to maximum drawdown

1.00

1.97

-0.97

Martin ratioReturn relative to average drawdown

2.79

5.39

-2.60

AEM.TO vs. XMA.TO - Sharpe Ratio Comparison

The current AEM.TO Sharpe Ratio is 0.88, which is lower than the XMA.TO Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of AEM.TO and XMA.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

AEM.TO vs. XMA.TO - Drawdown Comparison

The maximum AEM.TO drawdown since its inception was -70.33%, which is greater than XMA.TO's maximum drawdown of -64.42%. Use the drawdown chart below to compare losses from any high point for AEM.TO and XMA.TO.

Loading charts...

Drawdown Indicators

AEM.TOXMA.TODifference

Max Drawdown

Largest peak-to-trough decline

-70.33%

-64.42%

-5.91%

Max Drawdown (1Y)

Largest decline over 1 year

-38.24%

-28.51%

-9.73%

Max Drawdown (3Y)

Largest decline over 3 years

-38.24%

-28.51%

-9.73%

Max Drawdown (5Y)

Largest decline over 5 years

-40.24%

-33.06%

-7.18%

Max Drawdown (10Y)

Largest decline over 10 years

-55.07%

-33.06%

-22.01%

Current Drawdown

Current decline from peak

-33.88%

-23.00%

-10.88%

Average Drawdown

Average peak-to-trough decline

-29.18%

-27.07%

-2.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.73%

10.41%

+3.32%

Volatility

AEM.TO vs. XMA.TO - Volatility Comparison

Agnico Eagle Mines Limited (AEM.TO) and iShares S&P/TSX Capped Materials Index ETF (XMA.TO) have volatilities of 15.84% and 15.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

AEM.TOXMA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

15.84%

15.41%

+0.43%

Volatility (6M)

Calculated over the trailing 6-month period

35.38%

32.63%

+2.75%

Volatility (1Y)

Calculated over the trailing 1-year period

43.51%

38.59%

+4.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.15%

27.96%

+7.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.00%

26.78%

+9.22%

Dividends

AEM.TO vs. XMA.TO - Dividend Comparison

AEM.TO's dividend yield for the trailing twelve months is around 1.03%, more than XMA.TO's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		0.39%0.41%0.83%1.26%1.24%0.87%0.63%0.64%0.75%0.47%0.82%1.87%

Frequently Asked Questions

With a correlation of 0.91, AEM.TO and XMA.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Portfolio Optimizer

Find the right allocation for AEM.TO and XMA.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer