AMR vs. XME

Last updated Jun 24, 2026

AMR (Alpha Metallurgical Resources, Inc.) is a stock, while XME (SPDR S&P Metals & Mining ETF) is Materials fund tracking the S&P Metals & Mining Select Industry Index. Over the past 5 years, AMR returned 48.52%/yr vs 21.39%/yr for XME. At a 0.48 correlation, their price movements are largely independent.

Performance

AMR vs. XME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Metallurgical Resources, Inc. (AMR) and SPDR S&P Metals & Mining ETF (XME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMR achieves a -16.61% return, which is significantly lower than XME's 7.18% return.

AMR

• 1D: -4.80%
• 1M: -4.92%
• YTD: -16.61%
• 6M: -20.15%
• 1Y: 57.22%
• 3Y*: 0.47%
• 5Y*: 48.52%
• 10Y*: —

XME

• 1D: -3.75%
• 1M: -5.21%
• YTD: 7.18%
• 6M: 2.81%
• 1Y: 68.16%
• 3Y*: 32.34%
• 5Y*: 21.39%
• 10Y*: 18.52%

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

AMR vs. XME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMR Alpha Metallurgical Resources, Inc.	-16.61%	-0.12%	-40.95%	133.87%	150.06%	436.94%	25.64%	-86.23%	10.71%	-4.69%
XME SPDR S&P Metals & Mining ETF	7.18%	83.47%	-4.54%	21.51%	13.13%	34.92%	15.95%	14.69%	-26.78%	22.51%

Correlation

The correlation between AMR and XME is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Mar 24, 2017	0.48

The correlation between AMR and XME has been stable across timeframes, ranging from 0.48 to 0.58 - a consistent structural relationship.

Return for Risk

AMR vs. XME — Risk / Return Rank

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

AMR

AMR Risk / Return Rank: 70
AMR Sharpe Ratio Rank: 71
AMR Sortino Ratio Rank: 71
AMR Omega Ratio Rank: 65
AMR Calmar Ratio Rank: 72
AMR Martin Ratio Rank: 70

XME

XME Risk / Return Rank: 54
XME Sharpe Ratio Rank: 58
XME Sortino Ratio Rank: 51
XME Omega Ratio Rank: 50
XME Calmar Ratio Rank: 64
XME Martin Ratio Rank: 46

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.

AMR vs. XME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Metallurgical Resources, Inc. (AMR) and SPDR S&P Metals & Mining ETF (XME). 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.

	AMR	XME	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.89	-0.96
Sortino ratio: Return per unit of downside risk	1.70	2.40	-0.71
Omega ratio: Gain probability vs. loss probability	1.18	1.31	-0.12
Calmar ratio: Return relative to maximum drawdown	1.65	3.03	-1.38
Martin ratio: Return relative to average drawdown	3.52	7.40	-3.87

AMR vs. XME - Sharpe Ratio Comparison

The current AMR Sharpe Ratio is 0.93, which is lower than the XME Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of AMR and XME, 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

AMR vs. XME - Drawdown Comparison

The maximum AMR drawdown since its inception was -97.35%, which is greater than XME's maximum drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for AMR and XME.

Drawdown Indicators

	AMR	XME	Difference
Max Drawdown Largest peak-to-trough decline	-97.35%	-85.89%	-11.46%
Max Drawdown (1Y) Largest decline over 1 year	-34.85%	-22.60%	-12.25%
Max Drawdown (3Y) Largest decline over 3 years	-77.51%	-30.47%	-47.04%
Max Drawdown (5Y) Largest decline over 5 years	-77.51%	-37.27%	-40.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-62.31%	-16.45%	-45.86%
Average Drawdown Average peak-to-trough decline	-40.41%	-44.05%	+3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.30%	9.24%	+7.06%

Volatility

AMR vs. XME - Volatility Comparison

Alpha Metallurgical Resources, Inc. (AMR) has a higher volatility of 22.58% compared to SPDR S&P Metals & Mining ETF (XME) at 14.26%. This indicates that AMR's price experiences larger fluctuations and is considered to be riskier than XME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMR	XME	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.58%	14.26%	+8.32%
Volatility (6M) Calculated over the trailing 6-month period	39.88%	28.34%	+11.54%
Volatility (1Y) Calculated over the trailing 1-year period	61.85%	36.35%	+25.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.64%	32.76%	+26.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.66%	32.91%	+40.75%

Dividends

AMR vs. XME - Dividend Comparison

AMR has not paid dividends to shareholders, while XME's dividend yield for the trailing twelve months is around 0.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMR Alpha Metallurgical Resources, Inc.	0.00%	0.00%	0.00%	0.57%	4.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XME SPDR S&P Metals & Mining ETF	0.34%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

Can I hold both AMR and XME in my portfolio?

AMR and XME have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMR or XME?

AMR has higher volatility (22.58%) compared to XME (14.26%). In terms of maximum drawdown, AMR dropped -97.35% vs XME's -85.89%.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (1.89 vs 0.93), 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.