FSM vs. ACHR

Last updated Jun 13, 2026

FSM (Fortuna Silver Mines Inc.) and ACHR (Archer Aviation Inc.) are both stocks. FSM operates in Silver (Basic Materials), while ACHR operates in Aerospace & Defense (Industrials). Over the past 5 years, FSM returned 6.23%/yr vs -12.65%/yr for ACHR. At a 0.18 correlation, their price movements are largely independent.

Performance

FSM vs. ACHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fortuna Silver Mines Inc. (FSM) and Archer Aviation Inc. (ACHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSM achieves a -8.97% return, which is significantly higher than ACHR's -32.45% return.

FSM

• 1D: 3.72%
• 1M: -6.49%
• YTD: -8.97%
• 6M: -8.69%
• 1Y: 29.80%
• 3Y*: 38.24%
• 5Y*: 6.23%
• 10Y*: 3.63%

ACHR

• 1D: -4.15%
• 1M: -16.03%
• YTD: -32.45%
• 6M: -38.80%
• 1Y: -49.15%
• 3Y*: 4.91%
• 5Y*: -12.65%
• 10Y*: —

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

FSM vs. ACHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FSM Fortuna Silver Mines Inc.	-8.97%	128.67%	11.14%	2.93%	-3.85%	-52.67%	10.16%
ACHR Archer Aviation Inc.	-32.45%	-22.87%	58.79%	228.34%	-69.04%	-39.96%	-0.89%

Correlation

The correlation between FSM and ACHR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 18, 2020	0.18

Fundamentals

Market Cap FSM : $2.97B ACHR : $3.90B
EPS FSM : $1.06 ACHR : -$1.36
PS Ratio FSM : 2.61 ACHR : 1.46K
PB Ratio FSM : 1.68 ACHR : 1.87
Total Revenue (TTM) FSM : $1.10B ACHR : $1.90M
Gross Profit (TTM) FSM : $598.05M ACHR : $300.00K
EBITDA (TTM) FSM : $743.42M ACHR : -$712.00M

Return for Risk

FSM vs. ACHR — Risk / Return Rank

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

FSM

FSM Risk / Return Rank: 59
FSM Sharpe Ratio Rank: 61
FSM Sortino Ratio Rank: 58
FSM Omega Ratio Rank: 58
FSM Calmar Ratio Rank: 60
FSM Martin Ratio Rank: 62

ACHR

ACHR Risk / Return Rank: 10
ACHR Sharpe Ratio Rank: 10
ACHR Sortino Ratio Rank: 10
ACHR Omega Ratio Rank: 12
ACHR Calmar Ratio Rank: 7
ACHR Martin Ratio Rank: 10

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.

FSM vs. ACHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fortuna Silver Mines Inc. (FSM) and Archer Aviation Inc. (ACHR). 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.

	FSM	ACHR	Difference
Sharpe ratio: Return per unit of total volatility	0.52	-0.80	+1.32
Sortino ratio: Return per unit of downside risk	1.04	-1.16	+2.20
Omega ratio: Gain probability vs. loss probability	1.13	0.87	+0.26
Calmar ratio: Return relative to maximum drawdown	0.73	-0.89	+1.63
Martin ratio: Return relative to average drawdown	1.87	-1.39	+3.26

FSM vs. ACHR - Sharpe Ratio Comparison

The current FSM Sharpe Ratio is 0.52, which is higher than the ACHR Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of FSM and ACHR, 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

FSM vs. ACHR - Drawdown Comparison

The maximum FSM drawdown since its inception was -92.25%, roughly equal to the maximum ACHR drawdown of -90.49%. Use the drawdown chart below to compare losses from any high point for FSM and ACHR.

Drawdown Indicators

	FSM	ACHR	Difference
Max Drawdown Largest peak-to-trough decline	-92.25%	-90.49%	-1.76%
Max Drawdown (1Y) Largest decline over 1 year	-40.78%	-63.78%	+23.00%
Max Drawdown (3Y) Largest decline over 3 years	-40.78%	-63.78%	+23.00%
Max Drawdown (5Y) Largest decline over 5 years	-67.09%	-84.00%	+16.91%
Max Drawdown (10Y) Largest decline over 10 years	-81.07%	—	—
Current Drawdown Current decline from peak	-34.63%	-70.36%	+35.73%
Average Drawdown Average peak-to-trough decline	-45.15%	-62.48%	+17.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.94%	41.04%	-25.10%

Volatility

FSM vs. ACHR - Volatility Comparison

The current volatility for Fortuna Silver Mines Inc. (FSM) is 18.09%, while Archer Aviation Inc. (ACHR) has a volatility of 21.42%. This indicates that FSM experiences smaller price fluctuations and is considered to be less risky than ACHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSM	ACHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.09%	21.42%	-3.33%
Volatility (6M) Calculated over the trailing 6-month period	45.78%	44.68%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	57.67%	70.77%	-13.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.48%	84.32%	-26.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.50%	82.16%	-22.66%

Dividends

FSM vs. ACHR - Dividend Comparison

Neither FSM nor ACHR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both FSM and ACHR in my portfolio?

FSM and ACHR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSM or ACHR?

ACHR has higher volatility (21.42%) compared to FSM (18.09%). In terms of maximum drawdown, FSM dropped -92.25% vs ACHR's -90.49%.

Which has better risk-adjusted returns?

FSM currently has the higher Sharpe Ratio (0.52 vs -0.80), 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.