AEM vs. GDX
Compare and contrast key facts about Agnico Eagle Mines Limited (AEM) and VanEck Vectors Gold Miners ETF (GDX).
GDX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners Index. It was launched on May 22, 2006.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AEM or GDX.
Key characteristics
| AEM | GDX | |
|---|---|---|
| YTD Return | 17.09% | 6.80% |
| 1Y Return | 16.77% | -0.31% |
| 3Y Return (Ann) | 1.83% | -1.15% |
| 5Y Return (Ann) | 11.29% | 10.63% |
| 10Y Return (Ann) | 10.08% | 4.06% |
| Sharpe Ratio | 0.58 | -0.00 |
| Daily Std Dev | 29.36% | 30.18% |
| Max Drawdown | -90.34% | -80.57% |
| Current Drawdown | -18.36% | -44.15% |
Correlation
The correlation between AEM and GDX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
AEM vs. GDX - Performance Comparison
In the year-to-date period, AEM achieves a 17.09% return, which is significantly higher than GDX's 6.80% return. Over the past 10 years, AEM has outperformed GDX with an annualized return of 10.08%, while GDX has yielded a comparatively lower 4.06% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
AEM vs. GDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM) and VanEck Vectors Gold Miners ETF (GDX). 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.
Dividends
AEM vs. GDX - Dividend Comparison
AEM's dividend yield for the trailing twelve months is around 2.51%, more than GDX's 1.51% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | 2.51% | 2.92% | 3.08% | 2.66% | 1.35% | 1.10% | 1.09% | 0.89% | 0.86% | 1.22% | 1.29% | 3.34% |
GDX VanEck Vectors Gold Miners ETF | 1.51% | 1.61% | 1.66% | 1.67% | 0.53% | 0.65% | 0.50% | 0.76% | 0.26% | 0.85% | 0.66% | 0.90% |
Drawdowns
AEM vs. GDX - Drawdown Comparison
The maximum AEM drawdown since its inception was -90.34%, which is greater than GDX's maximum drawdown of -80.57%. Use the drawdown chart below to compare losses from any high point for AEM and GDX. For additional features, visit the drawdowns tool.
Volatility
AEM vs. GDX - Volatility Comparison
The current volatility for Agnico Eagle Mines Limited (AEM) is 7.36%, while VanEck Vectors Gold Miners ETF (GDX) has a volatility of 8.99%. This indicates that AEM experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.