FNV vs. AEM
FNV (Franco-Nevada Corporation) and AEM (Agnico Eagle Mines Limited) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, FNV returned 11.68%/yr vs 11.46%/yr for AEM. Their 0.73 correlation means they have sometimes moved together and sometimes differently.
Performance
FNV vs. AEM - Performance Comparison
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Returns By Period
In the year-to-date period, FNV achieves a 3.11% return, which is significantly higher than AEM's -13.95% return. Both investments have delivered pretty close results over the past 10 years, with FNV having a 11.68% annualized return and AEM not far behind at 11.46%.
FNV
- 1D
- -3.81%
- 1M
- -2.14%
- 6M
- -8.81%
- YTD
- 3.11%
- 1Y
- 32.69%
- 3Y*
- 15.42%
- 5Y*
- 6.93%
- 10Y*
- 11.68%
- ALL TIME*
- 16.70%
AEM
- 1D
- -3.64%
- 1M
- -5.58%
- 6M
- -23.42%
- YTD
- -13.95%
- 1Y
- 17.10%
- 3Y*
- 44.82%
- 5Y*
- 20.40%
- 10Y*
- 11.46%
- ALL TIME*
- 7.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $362.33M | $376.74M | $426.77M | |
| $153.15M | $143.97M | $182.98M |
FNV vs. AEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNV Franco-Nevada Corporation | 3.11% | 77.81% | 7.41% | -17.96% | -0.39% | 11.57% | 22.31% | 48.92% | -11.00% | 35.45% |
AEM Agnico Eagle Mines Limited | -13.95% | 119.53% | 46.04% | 8.98% | 1.08% | -22.81% | 17.39% | 54.18% | -11.51% | 10.92% |
Correlation
The correlation between FNV and AEM is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2007 | 0.73 |
The correlation between FNV and AEM has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
Fundamentals
FNV:
$41.06B
AEM:
$73.56B
FNV:
$7.10
AEM:
$11.60
FNV:
29.99
AEM:
12.52
FNV:
0.63
AEM:
0.19
FNV:
19.54
AEM:
5.06
FNV:
5.06
AEM:
2.56
FNV:
$2.10B
AEM:
$14.43B
FNV:
$1.61B
AEM:
$9.02B
FNV:
$1.96B
AEM:
$10.36B
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Return for Risk
FNV vs. AEM — Risk / Return Rank
FNV
AEM
FNV vs. AEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franco-Nevada Corporation (FNV) 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.
| FNV | AEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.10 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 0.39 | +0.80 |
| Martin ratioReturn relative to average drawdown | 2.59 | 0.90 | +1.69 |
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Drawdowns
FNV vs. AEM - Drawdown Comparison
The maximum FNV drawdown since its inception was -58.76%, smaller than the maximum AEM drawdown of -90.49%. Use the drawdown chart below to compare losses from any high point for FNV and AEM.
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Drawdown Indicators
| FNV | AEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.76% | -90.49% | +31.73% |
Max Drawdown (1Y)Largest decline over 1 year | -29.18% | -45.80% | +16.62% |
Max Drawdown (3Y)Largest decline over 3 years | -29.18% | -45.80% | +16.62% |
Max Drawdown (5Y)Largest decline over 5 years | -37.12% | -45.80% | +8.68% |
Max Drawdown (10Y)Largest decline over 10 years | -37.12% | -53.86% | +16.74% |
Current DrawdownCurrent decline from peak | -23.89% | -42.25% | +18.36% |
Average DrawdownAverage peak-to-trough decline | -14.04% | -46.63% | +32.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.44% | 20.06% | -6.62% |
Volatility
FNV vs. AEM - Volatility Comparison
Franco-Nevada Corporation (FNV) and Agnico Eagle Mines Limited (AEM) have volatilities of 10.68% and 11.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNV | AEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 11.20% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 31.38% | 36.02% | -4.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.79% | 44.77% | -6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.74% | 37.35% | -6.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.25% | 37.38% | -7.13% |
Dividends
FNV vs. AEM - Dividend Comparison
FNV's dividend yield for the trailing twelve months is around 0.77%, less than AEM's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | 1.17% | 0.94% | 2.05% | 2.92% | 3.08% | 2.63% | 2.36% | 0.89% | 1.09% | 0.89% | 0.86% | 1.22% |
FNV Franco-Nevada Corporation | 0.77% | 0.73% | 1.22% | 1.23% | 0.94% | 1.10% | 0.82% | 0.96% | 1.35% | 1.14% | 1.46% | 1.81% |
Financials
FNV vs. AEM - Financials Comparison
This section allows you to compare key financial metrics between Franco-Nevada Corporation and Agnico Eagle Mines Limited. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FNV vs. AEM - Profitability Comparison
FNV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Franco-Nevada Corporation reported a gross profit of 518.42M and revenue of 641.09M. Therefore, the gross margin over that period was 80.9%.
AEM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Agnico Eagle Mines Limited reported a gross profit of 2.30B and revenue of 3.71B. Therefore, the gross margin over that period was 62.2%.
FNV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Franco-Nevada Corporation reported an operating income of 503.23M and revenue of 641.09M, resulting in an operating margin of 78.5%.
AEM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Agnico Eagle Mines Limited reported an operating income of 2.22B and revenue of 3.71B, resulting in an operating margin of 60.0%.
FNV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Franco-Nevada Corporation reported a net income of 462.11M and revenue of 641.09M, resulting in a net margin of 72.1%.
AEM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Agnico Eagle Mines Limited reported a net income of 1.56B and revenue of 3.71B, resulting in a net margin of 42.1%.
Frequently Asked Questions
FNV and AEM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AEM has higher volatility (11.20%) compared to FNV (10.68%). In terms of maximum drawdown, FNV dropped -58.76% vs AEM's -90.49%.
FNV currently has the higher Sharpe Ratio (0.92 vs 0.40), 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.
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