ASM vs. FSM

Last updated Apr 1, 2026

Compare and contrast key facts about Avino Silver & Gold Mines Ltd. (ASM) and Fortuna Silver Mines Inc. (FSM).

Performance

ASM vs. FSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avino Silver & Gold Mines Ltd. (ASM) and Fortuna Silver Mines Inc. (FSM). The values are adjusted to include any dividend payments, if applicable.

ASM vs. FSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASM Avino Silver & Gold Mines Ltd.	1.77%	604.88%	68.13%	-22.95%	-21.01%	-33.77%	124.14%	-4.92%	-54.48%	-2.19%
FSM Fortuna Silver Mines Inc.	1.22%	128.67%	11.14%	2.93%	-3.85%	-52.67%	101.96%	12.09%	-30.27%	-7.61%

Fundamentals

Market Cap ASM : $1.04B FSM : $3.04B
EPS ASM : $0.17 FSM : $0.91
PE Ratio ASM : 37.39 FSM : 10.90
PEG Ratio ASM : 0.11 FSM : 0.16
PS Ratio ASM : 11.37 FSM : 3.01
PB Ratio ASM : 4.45 FSM : 1.81
Total Revenue (TTM) ASM : $88.12M FSM : $1.04B
Gross Profit (TTM) ASM : $44.14M FSM : $502.09M
EBITDA (TTM) ASM : $39.90M FSM : $670.30M

Returns By Period

In the year-to-date period, ASM achieves a 1.77% return, which is significantly higher than FSM's 1.22% return. Over the past 10 years, ASM has outperformed FSM with an annualized return of 20.13%, while FSM has yielded a comparatively lower 9.71% annualized return.

ASM

• 1D: 8.78%
• 1M: -34.30%
• YTD: 1.77%
• 6M: 20.38%
• 1Y: 243.48%
• 3Y*: 92.57%
• 5Y*: 37.41%
• 10Y*: 20.13%

FSM

• 1D: 6.09%
• 1M: -27.31%
• YTD: 1.22%
• 6M: 10.83%
• 1Y: 62.79%
• 3Y*: 37.50%
• 5Y*: 8.03%
• 10Y*: 9.71%

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

Return for Risk

ASM vs. FSM — Risk / Return Rank

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

ASM

ASM Risk / Return Rank: 93
ASM Sharpe Ratio Rank: 96
ASM Sortino Ratio Rank: 92
ASM Omega Ratio Rank: 89
ASM Calmar Ratio Rank: 92
ASM Martin Ratio Rank: 93

FSM

FSM Risk / Return Rank: 74
FSM Sharpe Ratio Rank: 76
FSM Sortino Ratio Rank: 71
FSM Omega Ratio Rank: 71
FSM Calmar Ratio Rank: 74
FSM Martin Ratio Rank: 80

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.

ASM vs. FSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avino Silver & Gold Mines Ltd. (ASM) and Fortuna Silver Mines Inc. (FSM). 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.

	ASM	FSM	Difference
Sharpe ratio Return per unit of total volatility	2.93	1.04	+1.89
Sortino ratio Return per unit of downside risk	3.03	1.59	+1.44
Omega ratio Gain probability vs. loss probability	1.38	1.22	+0.17
Calmar ratio Return relative to maximum drawdown	4.47	1.67	+2.80
Martin ratio Return relative to average drawdown	13.63	5.57	+8.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASM vs. FSM - Sharpe Ratio Comparison

The current ASM Sharpe Ratio is 2.93, which is higher than the FSM Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of ASM and FSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ASM	FSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	1.04	+1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.14	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.16	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.14	-0.05

Correlation

The correlation between ASM and FSM is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ASM vs. FSM - Dividend Comparison

Neither ASM nor FSM has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ASM vs. FSM - Drawdown Comparison

The maximum ASM drawdown since its inception was -94.10%, roughly equal to the maximum FSM drawdown of -92.25%. Use the drawdown chart below to compare losses from any high point for ASM and FSM.

Drawdown Indicators

	ASM	FSM	Difference
Max Drawdown Largest peak-to-trough decline	-94.10%	-92.25%	-1.85%
Max Drawdown (1Y) Largest decline over 1 year	-52.40%	-37.26%	-15.14%
Max Drawdown (5Y) Largest decline over 5 years	-70.08%	-73.74%	+3.66%
Max Drawdown (10Y) Largest decline over 10 years	-90.91%	-81.07%	-9.84%
Current Drawdown Current decline from peak	-43.77%	-27.31%	-16.46%
Average Drawdown Average peak-to-trough decline	-64.02%	-45.35%	-18.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.20%	11.18%	+6.02%

Volatility

ASM vs. FSM - Volatility Comparison

Avino Silver & Gold Mines Ltd. (ASM) has a higher volatility of 28.16% compared to Fortuna Silver Mines Inc. (FSM) at 20.19%. This indicates that ASM's price experiences larger fluctuations and is considered to be riskier than FSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASM	FSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.16%	20.19%	+7.97%
Volatility (6M) Calculated over the trailing 6-month period	67.30%	45.88%	+21.42%
Volatility (1Y) Calculated over the trailing 1-year period	83.71%	60.84%	+22.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.03%	57.92%	+7.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.32%	60.09%	+10.23%

Financials

ASM vs. FSM - Profitability Comparison

The chart below illustrates the profitability comparison between Avino Silver & Gold Mines Ltd. and Fortuna Silver Mines Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ASM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Avino Silver & Gold Mines Ltd. reported a gross profit of 13.45M and revenue of 26.44M. Therefore, the gross margin over that period was 50.9%.

FSM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Fortuna Silver Mines Inc. reported a gross profit of 148.06M and revenue of 272.03M. Therefore, the gross margin over that period was 54.4%.

ASM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Avino Silver & Gold Mines Ltd. reported an operating income of 9.80M and revenue of 26.44M, resulting in an operating margin of 37.1%.

FSM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Fortuna Silver Mines Inc. reported an operating income of 121.35M and revenue of 272.03M, resulting in an operating margin of 44.6%.

ASM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Avino Silver & Gold Mines Ltd. reported a net income of 10.62M and revenue of 26.44M, resulting in a net margin of 40.2%.

FSM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Fortuna Silver Mines Inc. reported a net income of 69.11M and revenue of 272.03M, resulting in a net margin of 25.4%.