EDD vs. AEM

Last updated Jul 11, 2026

EDD (Morgan Stanley Emerging Markets Domestic Fund) is Emerging Markets Bonds fund managed by Morgan Stanley, while AEM (Agnico Eagle Mines Limited) is a stock. Over the past 10 years, EDD returned 5.82%/yr vs 12.59%/yr for AEM. At a 0.21 correlation, their price movements are largely independent.

Performance

EDD vs. AEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Emerging Markets Domestic Fund (EDD) and Agnico Eagle Mines Limited (AEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDD achieves a 13.61% return, which is significantly higher than AEM's -13.00% return. Over the past 10 years, EDD has underperformed AEM with an annualized return of 5.82%, while AEM has yielded a comparatively higher 12.59% annualized return.

EDD

• 1D: -0.52%
• 1M: 7.32%
• 6M: 8.80%
• YTD: 13.61%
• 1Y: 25.08%
• 3Y*: 18.30%
• 5Y*: 8.49%
• 10Y*: 5.82%

AEM

• 1D: -1.45%
• 1M: -6.90%
• 6M: -22.83%
• YTD: -13.00%
• 1Y: 23.66%
• 3Y*: 46.01%
• 5Y*: 21.89%
• 10Y*: 12.59%

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

EDD vs. AEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDD Morgan Stanley Emerging Markets Domestic Fund	13.61%	32.46%	8.64%	14.09%	-14.15%	-7.03%	-2.84%	25.45%	-14.09%	16.34%
AEM Agnico Eagle Mines Limited	-13.00%	119.53%	46.04%	8.98%	1.08%	-22.81%	17.39%	54.18%	-11.51%	10.92%

Correlation

The correlation between EDD and AEM is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Apr 24, 2007	0.21

Return for Risk

EDD vs. AEM — Risk / Return Rank

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

EDD

EDD Risk / Return Rank: 37
EDD Sharpe Ratio Rank: 47
EDD Sortino Ratio Rank: 44
EDD Omega Ratio Rank: 45
EDD Calmar Ratio Rank: 25
EDD Martin Ratio Rank: 26

AEM

AEM Risk / Return Rank: 61
AEM Sharpe Ratio Rank: 65
AEM Sortino Ratio Rank: 60
AEM Omega Ratio Rank: 59
AEM Calmar Ratio Rank: 60
AEM Martin Ratio Rank: 61

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.

EDD vs. AEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Emerging Markets Domestic Fund (EDD) and Agnico Eagle Mines Limited (AEM). 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.

	EDD	AEM	Difference
Sharpe ratio: Return per unit of total volatility	1.53	0.58	+0.95
Sortino ratio: Return per unit of downside risk	2.13	1.00	+1.13
Omega ratio: Gain probability vs. loss probability	1.27	1.13	+0.14
Calmar ratio: Return relative to maximum drawdown	1.44	0.60	+0.84
Martin ratio: Return relative to average drawdown	4.62	1.49	+3.12

EDD vs. AEM - Sharpe Ratio Comparison

The current EDD Sharpe Ratio is 1.53, which is higher than the AEM Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of EDD and AEM, 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

EDD vs. AEM - Drawdown Comparison

The maximum EDD drawdown since its inception was -59.38%, smaller than the maximum AEM drawdown of -90.49%. Use the drawdown chart below to compare losses from any high point for EDD and AEM.

Drawdown Indicators

	EDD	AEM	Difference
Max Drawdown Largest peak-to-trough decline	-59.38%	-90.49%	+31.11%
Max Drawdown (1Y) Largest decline over 1 year	-17.67%	-42.41%	+24.74%
Max Drawdown (3Y) Largest decline over 3 years	-17.67%	-42.41%	+24.74%
Max Drawdown (5Y) Largest decline over 5 years	-32.04%	-42.41%	+10.37%
Max Drawdown (10Y) Largest decline over 10 years	-42.70%	-53.86%	+11.16%
Current Drawdown Current decline from peak	-2.04%	-41.62%	+39.58%
Average Drawdown Average peak-to-trough decline	-24.13%	-46.63%	+22.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.50%	17.09%	-11.59%

Volatility

EDD vs. AEM - Volatility Comparison

The current volatility for Morgan Stanley Emerging Markets Domestic Fund (EDD) is 5.29%, while Agnico Eagle Mines Limited (AEM) has a volatility of 13.36%. This indicates that EDD experiences smaller price fluctuations and is considered to be less risky than AEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDD	AEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	13.36%	-8.07%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	36.30%	-22.87%
Volatility (1Y) Calculated over the trailing 1-year period	16.67%	44.49%	-27.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	37.23%	-21.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	37.44%	-19.80%

Dividends

EDD vs. AEM - Dividend Comparison

EDD's dividend yield for the trailing twelve months is around 10.94%, more than AEM's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM Agnico Eagle Mines Limited	1.16%	0.94%	2.05%	2.92%	3.08%	2.63%	2.36%	0.89%	1.09%	0.89%	0.86%	1.22%
EDD Morgan Stanley Emerging Markets Domestic Fund	10.94%	9.76%	11.45%	7.30%	6.82%	6.93%	6.92%	8.15%	9.90%	8.18%	10.32%	12.65%

Frequently Asked Questions

Can I hold both EDD and AEM in my portfolio?

EDD and AEM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDD or AEM?

AEM has higher volatility (13.36%) compared to EDD (5.29%). In terms of maximum drawdown, EDD dropped -59.38% vs AEM's -90.49%.

Which has better risk-adjusted returns?

EDD currently has the higher Sharpe Ratio (1.53 vs 0.58), 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.