FNV vs. RGLD
FNV (Franco-Nevada Corporation) and RGLD (Royal Gold, Inc.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, FNV returned 13.00%/yr vs 13.30%/yr for RGLD. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
FNV vs. RGLD - Performance Comparison
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Returns By Period
In the year-to-date period, FNV achieves a 6.89% return, which is significantly higher than RGLD's -3.06% return. Both investments have delivered pretty close results over the past 10 years, with FNV having a 13.00% annualized return and RGLD not far ahead at 13.30%.
FNV
- 1D
- 0.67%
- 1M
- -2.21%
- YTD
- 6.89%
- 6M
- 3.15%
- 1Y
- 34.14%
- 3Y*
- 17.80%
- 5Y*
- 9.65%
- 10Y*
- 13.00%
RGLD
- 1D
- -0.08%
- 1M
- -2.56%
- YTD
- -3.06%
- 6M
- -6.98%
- 1Y
- 20.73%
- 3Y*
- 24.90%
- 5Y*
- 15.62%
- 10Y*
- 13.30%
FNV vs. RGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNV Franco-Nevada Corporation | 6.89% | 77.81% | 7.41% | -17.96% | -0.39% | 11.57% | 22.31% | 48.92% | -11.00% | 35.45% |
RGLD Royal Gold, Inc. | -3.06% | 70.43% | 10.39% | 8.70% | 8.51% | 0.04% | -12.13% | 44.27% | 5.53% | 31.32% |
Correlation
The correlation between FNV and RGLD is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2007 | 0.68 |
The correlation between FNV and RGLD shifts across timeframes, from 0.68 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
FNV:
$42.65B
RGLD:
$18.25B
FNV:
$7.10
RGLD:
$8.53
FNV:
31.09
RGLD:
25.17
FNV:
0.65
RGLD:
1.71
FNV:
20.26
RGLD:
12.22
FNV:
5.24
RGLD:
2.46
FNV:
$2.10B
RGLD:
$1.31B
FNV:
$1.61B
RGLD:
$579.68M
FNV:
$1.96B
RGLD:
$949.59M
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Return for Risk
FNV vs. RGLD — Risk / Return Rank
FNV
RGLD
FNV vs. RGLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franco-Nevada Corporation (FNV) and Royal Gold, Inc. (RGLD). 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 | RGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.12 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 0.59 | +0.74 |
| Martin ratioReturn relative to average drawdown | 3.24 | 1.49 | +1.75 |
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Drawdowns
FNV vs. RGLD - Drawdown Comparison
The maximum FNV drawdown since its inception was -58.76%, smaller than the maximum RGLD drawdown of -98.29%. Use the drawdown chart below to compare losses from any high point for FNV and RGLD.
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Drawdown Indicators
| FNV | RGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.76% | -98.29% | +39.53% |
Max Drawdown (1Y)Largest decline over 1 year | -25.68% | -35.12% | +9.44% |
Max Drawdown (3Y)Largest decline over 3 years | -29.64% | -35.12% | +5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -37.12% | -40.73% | +3.61% |
Max Drawdown (10Y)Largest decline over 10 years | -37.12% | -49.55% | +12.43% |
Current DrawdownCurrent decline from peak | -21.10% | -29.33% | +8.23% |
Average DrawdownAverage peak-to-trough decline | -13.98% | -29.82% | +15.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.57% | 13.93% | -3.36% |
Volatility
FNV vs. RGLD - Volatility Comparison
Franco-Nevada Corporation (FNV) has a higher volatility of 13.45% compared to Royal Gold, Inc. (RGLD) at 12.03%. This indicates that FNV's price experiences larger fluctuations and is considered to be riskier than RGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNV | RGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.45% | 12.03% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 30.78% | 32.26% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.71% | 39.61% | -2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.52% | 31.54% | -1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.27% | 33.67% | -3.40% |
Dividends
FNV vs. RGLD - Dividend Comparison
FNV's dividend yield for the trailing twelve months is around 0.74%, less than RGLD's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNV Franco-Nevada Corporation | 0.74% | 0.73% | 1.22% | 1.23% | 0.94% | 1.10% | 0.82% | 0.96% | 1.35% | 1.14% | 1.46% | 1.81% |
RGLD Royal Gold, Inc. | 0.86% | 0.81% | 1.21% | 1.24% | 1.24% | 1.14% | 1.05% | 0.87% | 1.17% | 1.17% | 1.45% | 1.81% |
Financials
FNV vs. RGLD - Financials Comparison
This section allows you to compare key financial metrics between Franco-Nevada Corporation and Royal Gold, Inc.. 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. RGLD - Profitability Comparison
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%.
RGLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Royal Gold, Inc. reported a gross profit of 0.00 and revenue of 469.13M. Therefore, the gross margin over that period was 0.0%.
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%.
RGLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Gold, Inc. reported an operating income of 297.09M and revenue of 469.13M, resulting in an operating margin of 63.3%.
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%.
RGLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Gold, Inc. reported a net income of 281.13M and revenue of 469.13M, resulting in a net margin of 59.9%.
Frequently Asked Questions
FNV and RGLD have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNV has higher volatility (13.45%) compared to RGLD (12.03%). In terms of maximum drawdown, FNV dropped -58.76% vs RGLD's -98.29%.
FNV currently has the higher Sharpe Ratio (0.94 vs 0.53), 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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