AEM vs. EDD

Last updated Jul 11, 2026

AEM (Agnico Eagle Mines Limited) is a stock, while EDD (Morgan Stanley Emerging Markets Domestic Fund) is Emerging Markets Bonds fund managed by Morgan Stanley. Over the past 10 years, AEM returned 12.59%/yr vs 5.82%/yr for EDD. At a 0.21 correlation, their price movements are largely independent.

Performance

AEM vs. EDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Agnico Eagle Mines Limited (AEM) and Morgan Stanley Emerging Markets Domestic Fund (EDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEM achieves a -13.00% return, which is significantly lower than EDD's 13.61% return. Over the past 10 years, AEM has outperformed EDD with an annualized return of 12.59%, while EDD has yielded a comparatively lower 5.82% annualized return.

AEM

• 1D: -1.45%
• 1M: -6.90%
• 6M: -22.83%
• YTD: -13.00%
• 1Y: 23.66%
• 3Y*: 46.01%
• 5Y*: 21.89%
• 10Y*: 12.59%

EDD

• 1D: -0.52%
• 1M: 7.32%
• 6M: 8.80%
• YTD: 13.61%
• 1Y: 25.08%
• 3Y*: 18.30%
• 5Y*: 8.49%
• 10Y*: 5.82%

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

AEM vs. EDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AEM Agnico Eagle Mines Limited	-13.00%	119.53%	46.04%	8.98%	1.08%	-22.81%	17.39%	54.18%	-11.51%	10.92%
EDD Morgan Stanley Emerging Markets Domestic Fund	13.61%	32.46%	8.64%	14.09%	-14.15%	-7.03%	-2.84%	25.45%	-14.09%	16.34%

Correlation

The correlation between AEM and EDD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Apr 24, 2007	0.21

Return for Risk

AEM vs. EDD — Risk / Return Rank

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

AEM

AEM Risk / Return Rank: 61
AEM Sharpe Ratio Rank: 65
AEM Sortino Ratio Rank: 60
AEM Omega Ratio Rank: 59
AEM Calmar Ratio Rank: 60
AEM Martin Ratio Rank: 61

EDD

EDD Risk / Return Rank: 37
EDD Sharpe Ratio Rank: 47
EDD Sortino Ratio Rank: 44
EDD Omega Ratio Rank: 45
EDD Calmar Ratio Rank: 25
EDD Martin Ratio Rank: 26

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 vs. EDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM) and Morgan Stanley Emerging Markets Domestic Fund (EDD). 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	EDD	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.53	-0.95
Sortino ratio: Return per unit of downside risk	1.00	2.13	-1.13
Omega ratio: Gain probability vs. loss probability	1.13	1.27	-0.14
Calmar ratio: Return relative to maximum drawdown	0.60	1.44	-0.84
Martin ratio: Return relative to average drawdown	1.49	4.62	-3.12

AEM vs. EDD - Sharpe Ratio Comparison

The current AEM Sharpe Ratio is 0.58, which is lower than the EDD Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of AEM and EDD, 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 vs. EDD - Drawdown Comparison

The maximum AEM drawdown since its inception was -90.49%, which is greater than EDD's maximum drawdown of -59.38%. Use the drawdown chart below to compare losses from any high point for AEM and EDD.

Drawdown Indicators

	AEM	EDD	Difference
Max Drawdown Largest peak-to-trough decline	-90.49%	-59.38%	-31.11%
Max Drawdown (1Y) Largest decline over 1 year	-42.41%	-17.67%	-24.74%
Max Drawdown (3Y) Largest decline over 3 years	-42.41%	-17.67%	-24.74%
Max Drawdown (5Y) Largest decline over 5 years	-42.41%	-32.04%	-10.37%
Max Drawdown (10Y) Largest decline over 10 years	-53.86%	-42.70%	-11.16%
Current Drawdown Current decline from peak	-41.62%	-2.04%	-39.58%
Average Drawdown Average peak-to-trough decline	-46.63%	-24.13%	-22.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.09%	5.50%	+11.59%

Volatility

AEM vs. EDD - Volatility Comparison

Agnico Eagle Mines Limited (AEM) has a higher volatility of 13.36% compared to Morgan Stanley Emerging Markets Domestic Fund (EDD) at 5.29%. This indicates that AEM's price experiences larger fluctuations and is considered to be riskier than EDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEM	EDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.36%	5.29%	+8.07%
Volatility (6M) Calculated over the trailing 6-month period	36.30%	13.43%	+22.87%
Volatility (1Y) Calculated over the trailing 1-year period	44.49%	16.67%	+27.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.23%	15.47%	+21.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.44%	17.64%	+19.80%

Dividends

AEM vs. EDD - Dividend Comparison

AEM's dividend yield for the trailing twelve months is around 1.16%, less than EDD's 10.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM Agnico Eagle Mines Limited	1.16%	0.94%	2.05%	2.92%	3.08%	2.63%	2.36%	0.89%	1.09%	0.89%	0.86%	1.22%
EDD Morgan Stanley Emerging Markets Domestic Fund	10.94%	9.76%	11.45%	7.30%	6.82%	6.93%	6.92%	8.15%	9.90%	8.18%	10.32%	12.65%

Frequently Asked Questions

Can I hold both AEM and EDD in my portfolio?

AEM and EDD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AEM or EDD?

AEM has higher volatility (13.36%) compared to EDD (5.29%). In terms of maximum drawdown, AEM dropped -90.49% vs EDD's -59.38%.

Which has better risk-adjusted returns?

EDD currently has the higher Sharpe Ratio (1.53 vs 0.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.