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AEM.TO vs. XSP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AEM.TO vs. XSP.TO

Last updated Jun 5, 2026

AEM.TO (Agnico Eagle Mines Limited) is a stock, while XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, AEM.TO returned 16.42%/yr vs 13.78%/yr for XSP.TO. At a 0.07 correlation, their price movements are largely independent.

Performance

AEM.TO vs. XSP.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 Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AEM.TO achieves a 5.77% return, which is significantly lower than XSP.TO's 10.07% return. Over the past 10 years, AEM.TO has outperformed XSP.TO with an annualized return of 16.42%, while XSP.TO has yielded a comparatively lower 13.78% annualized return.

AEM.TO

1D
2.94%
1M
1.04%
YTD
5.77%
6M
2.79%
1Y
46.19%
3Y*
54.75%
5Y*
26.46%
10Y*
16.42%

XSP.TO

1D
0.39%
1M
4.54%
YTD
10.07%
6M
9.82%
1Y
25.62%
3Y*
20.50%
5Y*
12.27%
10Y*
13.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
AEM.TO
Agnico Eagle Mines Limited		5.77%109.61%58.54%6.66%8.18%-22.88%13.71%46.75%-3.97%3.72%
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		10.07%15.68%23.39%24.33%-19.32%27.85%15.17%29.35%-6.26%20.71%

Correlation

The correlation between AEM.TO and XSP.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.29

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

0.22

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

0.17

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

0.09

Correlation (All Time)
Calculated using the full available price history since May 30, 2001

0.07

Over the past year, AEM.TO and XSP.TO have become more correlated (0.29) than their long-term average of 0.07, meaning their price movements have been converging.

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Agnico Eagle Mines Limited

iShares Core S&P 500 Index ETF (CAD-Hedged)

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Often compared with XSP.TO:
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Return for Risk

AEM.TO vs. XSP.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: 7070
Overall Rank
AEM.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
AEM.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
AEM.TO Omega Ratio Rank: 6767
Omega Ratio Rank
AEM.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
AEM.TO Martin Ratio Rank: 7070
Martin Ratio Rank
XSP.TO
XSP.TO Risk / Return Rank: 6565
Overall Rank
XSP.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
XSP.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
XSP.TO Omega Ratio Rank: 6666
Omega Ratio Rank
XSP.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
XSP.TO Martin Ratio Rank: 6969
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. XSP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM.TO) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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.

AEM.TOXSP.TODifference
Sharpe ratioReturn per unit of total volatility
1.09
2.19

-1.10

Sortino ratioReturn per unit of downside risk
1.54
3.01

-1.47

Omega ratioGain probability vs. loss probability

1.21

1.39

-0.18

Calmar ratioReturn relative to maximum drawdown

1.50

2.74

-1.23

Martin ratioReturn relative to average drawdown

3.67

12.64

-8.97

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current AEM.TO Sharpe Ratio is 1.09, which is lower than the XSP.TO Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of AEM.TO and XSP.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.

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Sharpe Ratios by Period

AEM.TOXSP.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.09

2.19

-1.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.74

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

0.76

-0.30

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.37

-0.15

Drawdowns

AEM.TO vs. XSP.TO - Drawdown Comparison

The maximum AEM.TO drawdown since its inception was -84.38%, which is greater than XSP.TO's maximum drawdown of -57.82%. Use the drawdown chart below to compare losses from any high point for AEM.TO and XSP.TO.

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Drawdown Indicators

AEM.TOXSP.TODifference

Max Drawdown

Largest peak-to-trough decline

-84.38%

-57.82%

-26.56%

Max Drawdown (1Y)

Largest decline over 1 year

-30.87%

-9.41%

-21.46%

Max Drawdown (3Y)

Largest decline over 3 years

-30.87%

-18.77%

-12.10%

Max Drawdown (5Y)

Largest decline over 5 years

-42.10%

-25.44%

-16.66%

Max Drawdown (10Y)

Largest decline over 10 years

-54.60%

-36.05%

-18.55%

Current Drawdown

Current decline from peak

-28.73%

-0.34%

-28.39%

Average Drawdown

Average peak-to-trough decline

-34.18%

-12.11%

-22.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.63%

2.03%

+10.60%

Volatility

AEM.TO vs. XSP.TO - Volatility Comparison

Agnico Eagle Mines Limited (AEM.TO) has a higher volatility of 14.62% compared to iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) at 3.20%. This indicates that AEM.TO's price experiences larger fluctuations and is considered to be riskier than XSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AEM.TOXSP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

14.62%

3.20%

+11.42%

Volatility (6M)

Calculated over the trailing 6-month period

34.13%

8.99%

+25.14%

Volatility (1Y)

Calculated over the trailing 1-year period

42.53%

11.75%

+30.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.90%

16.74%

+18.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

35.87%

18.19%

+17.68%

Dividends

AEM.TO vs. XSP.TO - Dividend Comparison

AEM.TO's dividend yield for the trailing twelve months is around 0.70%, less than XSP.TO's 1.12% yield.

PositionTTM20252024202320222021202020192018201720162015
AEM.TO
Agnico Eagle Mines Limited		0.70%0.96%1.95%2.99%2.96%3.13%1.41%0.92%1.04%0.92%0.98%1.13%
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		1.12%1.23%1.09%1.18%1.37%1.00%1.31%1.73%1.84%1.47%1.75%1.86%

Frequently Asked Questions

AEM.TO and XSP.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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