DPM.TO vs. XAW.TO

Last updated Jun 5, 2026

DPM.TO (Dundee Precious Metals Inc.) is a stock, while XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) is Global Equities fund tracking the Morningstar Gbl GR CAD. Over the past 10 years, DPM.TO returned 34.46%/yr vs 13.26%/yr for XAW.TO. At a 0.05 correlation, their price movements are largely independent.

Performance

DPM.TO vs. XAW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Dundee Precious Metals Inc. (DPM.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DPM.TO having a 14.33% return and XAW.TO slightly lower at 14.15%. Over the past 10 years, DPM.TO has outperformed XAW.TO with an annualized return of 34.46%, while XAW.TO has yielded a comparatively lower 13.26% annualized return.

DPM.TO

• 1D: 2.13%
• 1M: 10.44%
• YTD: 14.33%
• 6M: 23.60%
• 1Y: 121.29%
• 3Y*: 74.33%
• 5Y*: 44.75%
• 10Y*: 34.46%

XAW.TO

• 1D: 0.40%
• 1M: 6.30%
• YTD: 14.15%
• 6M: 12.98%
• 1Y: 31.14%
• 3Y*: 21.98%
• 5Y*: 14.05%
• 10Y*: 13.26%

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

DPM.TO vs. XAW.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DPM.TO Dundee Precious Metals Inc.	14.33%	228.58%	56.68%	33.46%	-13.25%	-12.83%	66.69%	55.00%	20.00%	33.33%
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF	14.15%	15.87%	26.31%	18.45%	-11.84%	18.38%	12.37%	19.82%	-2.28%	16.10%

Correlation

The correlation between DPM.TO and XAW.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015	0.05

Over the past year, DPM.TO and XAW.TO have become more correlated (0.26) than their long-term average of 0.05, meaning their price movements have been converging.

Return for Risk

DPM.TO vs. XAW.TO — Risk / Return Rank

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

DPM.TO

DPM.TO Risk / Return Rank: 89
DPM.TO Sharpe Ratio Rank: 93
DPM.TO Sortino Ratio Rank: 87
DPM.TO Omega Ratio Rank: 88
DPM.TO Calmar Ratio Rank: 88
DPM.TO Martin Ratio Rank: 89

XAW.TO

XAW.TO Risk / Return Rank: 80
XAW.TO Sharpe Ratio Rank: 80
XAW.TO Sortino Ratio Rank: 80
XAW.TO Omega Ratio Rank: 82
XAW.TO Calmar Ratio Rank: 77
XAW.TO Martin Ratio Rank: 79

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.

DPM.TO vs. XAW.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dundee Precious Metals Inc. (DPM.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.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.

	DPM.TO	XAW.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.68	2.55	+0.13
Sortino ratio: Return per unit of downside risk	2.90	3.55	-0.65
Omega ratio: Gain probability vs. loss probability	1.40	1.49	-0.09
Calmar ratio: Return relative to maximum drawdown	4.13	3.84	+0.30
Martin ratio: Return relative to average drawdown	11.36	15.47	-4.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DPM.TO vs. XAW.TO - Sharpe Ratio Comparison

The current DPM.TO Sharpe Ratio is 2.68, which is comparable to the XAW.TO Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of DPM.TO and XAW.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DPM.TO	XAW.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.68	2.55	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	1.04	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.88	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.79	-0.58

Drawdowns

DPM.TO vs. XAW.TO - Drawdown Comparison

The maximum DPM.TO drawdown since its inception was -94.16%, which is greater than XAW.TO's maximum drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for DPM.TO and XAW.TO.

Drawdown Indicators

	DPM.TO	XAW.TO	Difference
Max Drawdown Largest peak-to-trough decline	-94.16%	-27.32%	-66.84%
Max Drawdown (1Y) Largest decline over 1 year	-29.52%	-8.16%	-21.36%
Max Drawdown (3Y) Largest decline over 3 years	-29.52%	-16.66%	-12.86%
Max Drawdown (5Y) Largest decline over 5 years	-41.88%	-21.02%	-20.86%
Max Drawdown (10Y) Largest decline over 10 years	-51.96%	-27.32%	-24.64%
Current Drawdown Current decline from peak	-18.32%	0.00%	-18.32%
Average Drawdown Average peak-to-trough decline	-41.60%	-3.91%	-37.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.73%	2.02%	+8.71%

Volatility

DPM.TO vs. XAW.TO - Volatility Comparison

Dundee Precious Metals Inc. (DPM.TO) has a higher volatility of 14.50% compared to iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) at 4.12%. This indicates that DPM.TO's price experiences larger fluctuations and is considered to be riskier than XAW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPM.TO	XAW.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.50%	4.12%	+10.38%
Volatility (6M) Calculated over the trailing 6-month period	37.34%	9.86%	+27.48%
Volatility (1Y) Calculated over the trailing 1-year period	45.45%	12.25%	+33.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.47%	13.56%	+24.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.24%	15.12%	+32.12%

Dividends

DPM.TO vs. XAW.TO - Dividend Comparison

DPM.TO's dividend yield for the trailing twelve months is around 0.54%, less than XAW.TO's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPM.TO Dundee Precious Metals Inc.	0.54%	0.62%	1.69%	2.52%	4.01%	1.92%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF	1.16%	1.33%	1.61%	1.71%	1.79%	1.77%	1.49%	2.02%	2.29%	1.92%	1.80%	1.83%

Frequently Asked Questions

Can I hold both DPM.TO and XAW.TO in my portfolio?

DPM.TO and XAW.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.