FNV vs. EMX

Last updated Jun 4, 2026

FNV (Franco-Nevada Corporation) and EMX (EMX Royalty Corporation) are both stocks. Both are in the Basic Materials sector — FNV in Gold, EMX in Other Industrial Metals & Mining. At a 0.30 correlation, their price movements are largely independent.

Performance

FNV vs. EMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franco-Nevada Corporation (FNV) and EMX Royalty Corporation (EMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FNV

• 1D: -2.88%
• 1M: 2.31%
• YTD: 10.72%
• 6M: 13.36%
• 1Y: 30.92%
• 3Y*: 16.99%
• 5Y*: 9.63%
• 10Y*: 13.89%

EMX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNV vs. EMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNV Franco-Nevada Corporation	10.72%	77.81%	7.41%	-17.96%	-0.39%	11.57%	22.31%	48.92%	-11.00%	35.45%
EMX EMX Royalty Corporation	0.00%	140.46%	6.79%	-14.29%	-16.74%	-32.24%	104.07%	45.27%	35.95%	-20.08%

Correlation

The correlation between FNV and EMX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 10, 2007	0.30

The correlation between FNV and EMX shifts across timeframes, from 0.30 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap FNV : $44.27B EMX : $454.57M
EPS FNV : $7.10 EMX : $0.04
PE Ratio FNV : 32.28 EMX : 94.44
PEG Ratio FNV : 0.67 EMX : 21.38
PS Ratio FNV : 21.03 EMX : 17.07
PB Ratio FNV : 5.44 EMX : 3.92
Total Revenue (TTM) FNV : $2.10B EMX : $26.63M
Gross Profit (TTM) FNV : $1.61B EMX : $10.56M
EBITDA (TTM) FNV : $1.96B EMX : $18.42M

Return for Risk

FNV vs. EMX — Risk / Return Rank

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

FNV

FNV Risk / Return Rank: 65
FNV Sharpe Ratio Rank: 68
FNV Sortino Ratio Rank: 60
FNV Omega Ratio Rank: 61
FNV Calmar Ratio Rank: 68
FNV Martin Ratio Rank: 66

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.

FNV vs. EMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franco-Nevada Corporation (FNV) and EMX Royalty Corporation (EMX). 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.

	FNV	EMX	Difference
Sharpe ratio Return per unit of total volatility	0.88	—	—
Sortino ratio Return per unit of downside risk	1.29	—	—
Omega ratio Gain probability vs. loss probability	1.18	—	—
Calmar ratio Return relative to maximum drawdown	1.51	—	—
Martin ratio Return relative to average drawdown	3.14	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FNV	EMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	—	—

Drawdowns

Drawdown Indicators

	FNV	EMX	Difference
Max Drawdown Largest peak-to-trough decline	-58.76%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-20.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-29.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.12%	—	—
Current Drawdown Current decline from peak	-18.28%	—	—
Average Drawdown Average peak-to-trough decline	-13.96%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	9.87%	—	—

Volatility

Volatility by Period

	FNV	EMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.24%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.15%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.07%	—	—

Dividends

FNV vs. EMX - Dividend Comparison

FNV's dividend yield for the trailing twelve months is around 0.69%, while EMX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMX EMX Royalty Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNV Franco-Nevada Corporation	0.69%	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. EMX - Profitability Comparison

The chart below illustrates the profitability comparison between Franco-Nevada Corporation and EMX Royalty Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FNV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.

EMX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, EMX Royalty Corporation reported a gross profit of 2.53M and revenue of 5.77M. Therefore, the gross margin over that period was 43.8%.

FNV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Franco-Nevada Corporation reported an operating income of 503.23M and revenue of 641.09M, resulting in an operating margin of 78.5%.

EMX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, EMX Royalty Corporation reported an operating income of 975.00K and revenue of 5.77M, resulting in an operating margin of 16.9%.

FNV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Franco-Nevada Corporation reported a net income of 462.11M and revenue of 641.09M, resulting in a net margin of 72.1%.

EMX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, EMX Royalty Corporation reported a net income of 642.00K and revenue of 5.77M, resulting in a net margin of 11.1%.

Frequently Asked Questions

Can I hold both FNV and EMX in my portfolio?

FNV and EMX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.