DML.TO vs. XETM.TO
DML.TO (Denison Mines Corp.) is a stock, while XETM.TO (iShares S&P/TSX Energy Transition Materials Index ETF) is Materials fund tracking the S&P/TSX Energy Transition Materials Index. Over the past year, DML.TO returned 105.19% vs 132.04% for XETM.TO. At a 0.33 correlation, their price movements are largely independent.
Performance
DML.TO vs. XETM.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DML.TO achieves a 30.22% return, which is significantly higher than XETM.TO's 27.20% return.
DML.TO
- 1D
- -6.14%
- 1M
- -7.24%
- YTD
- 30.22%
- 6M
- 26.06%
- 1Y
- 105.19%
- 3Y*
- 44.53%
- 5Y*
- 23.50%
- 10Y*
- 21.61%
XETM.TO
- 1D
- -4.12%
- 1M
- 14.61%
- YTD
- 27.20%
- 6M
- 37.88%
- 1Y
- 132.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DML.TO vs. XETM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DML.TO Denison Mines Corp. | 30.22% | 39.46% | 12.50% | 16.00% |
XETM.TO iShares S&P/TSX Energy Transition Materials Index ETF | 27.20% | 74.97% | 5.16% | -2.24% |
Correlation
The correlation between DML.TO and XETM.TO is 0.52, 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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.33 |
The correlation between DML.TO and XETM.TO shifts across timeframes, from 0.33 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DML.TO vs. XETM.TO — Risk / Return Rank
DML.TO
XETM.TO
DML.TO vs. XETM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Denison Mines Corp. (DML.TO) and iShares S&P/TSX Energy Transition Materials Index ETF (XETM.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.
| DML.TO | XETM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.54 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 5.29 | -1.66 |
| Martin ratioReturn relative to average drawdown | 8.35 | 18.31 | -9.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DML.TO | XETM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 3.35 | -1.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 1.01 | -0.94 |
Drawdowns
DML.TO vs. XETM.TO - Drawdown Comparison
The maximum DML.TO drawdown since its inception was -97.88%, which is greater than XETM.TO's maximum drawdown of -33.71%. Use the drawdown chart below to compare losses from any high point for DML.TO and XETM.TO.
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Drawdown Indicators
| DML.TO | XETM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.88% | -33.71% | -64.17% |
Max Drawdown (1Y)Largest decline over 1 year | -29.20% | -25.13% | -4.07% |
Max Drawdown (3Y)Largest decline over 3 years | -51.63% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -53.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -73.39% | — | — |
Current DrawdownCurrent decline from peak | -65.31% | -4.12% | -61.19% |
Average DrawdownAverage peak-to-trough decline | -73.69% | -8.19% | -65.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.64% | 7.24% | +5.40% |
Volatility
DML.TO vs. XETM.TO - Volatility Comparison
Denison Mines Corp. (DML.TO) has a higher volatility of 16.89% compared to iShares S&P/TSX Energy Transition Materials Index ETF (XETM.TO) at 13.89%. This indicates that DML.TO's price experiences larger fluctuations and is considered to be riskier than XETM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DML.TO | XETM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.89% | 13.89% | +3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 44.18% | 31.22% | +12.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.74% | 39.67% | +21.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.20% | 35.24% | +24.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.48% | 35.24% | +27.24% |
Dividends
DML.TO vs. XETM.TO - Dividend Comparison
DML.TO has not paid dividends to shareholders, while XETM.TO's dividend yield for the trailing twelve months is around 0.52%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DML.TO Denison Mines Corp. | 0.00% | 0.00% | 0.00% | 0.00% |
XETM.TO iShares S&P/TSX Energy Transition Materials Index ETF | 0.52% | 0.66% | 0.69% | 0.48% |
Frequently Asked Questions
DML.TO and XETM.TO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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