FSM vs. SVM

Last updated Jun 9, 2026

FSM (Fortuna Silver Mines Inc.) and SVM (Silvercorp Metals Inc.) are both stocks. Both operate in the Silver industry within the Basic Materials sector. Over the past 10 years, FSM returned 3.04%/yr vs 18.19%/yr for SVM. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

FSM vs. SVM - Performance Comparison

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

Returns By Period

In the year-to-date period, FSM achieves a -10.60% return, which is significantly lower than SVM's 27.95% return. Over the past 10 years, FSM has underperformed SVM with an annualized return of 3.04%, while SVM has yielded a comparatively higher 18.19% annualized return.

FSM

• 1D: 0.92%
• 1M: -18.49%
• YTD: -10.60%
• 6M: -4.88%
• 1Y: 23.00%
• 3Y*: 35.95%
• 5Y*: 5.60%
• 10Y*: 3.04%

SVM

• 1D: 0.19%
• 1M: -20.96%
• YTD: 27.95%
• 6M: 36.46%
• 1Y: 156.34%
• 3Y*: 52.84%
• 5Y*: 12.09%
• 10Y*: 18.19%

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

FSM vs. SVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSM Fortuna Silver Mines Inc.	-10.60%	128.67%	11.14%	2.93%	-3.85%	-52.67%	101.96%	12.09%	-30.27%	-7.61%
SVM Silvercorp Metals Inc.	27.95%	179.29%	14.88%	-10.33%	-20.60%	-43.52%	18.54%	172.27%	-18.96%	12.52%

Correlation

The correlation between FSM and SVM is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007	0.65

The correlation between FSM and SVM shifts across timeframes, from 0.65 (all time) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap FSM : $2.92B SVM : $2.35B
EPS FSM : $1.06 SVM : -$0.05
PS Ratio FSM : 2.57 SVM : 5.35
PB Ratio FSM : 1.65 SVM : 2.50
Total Revenue (TTM) FSM : $1.10B SVM : $437.11M
Gross Profit (TTM) FSM : $598.05M SVM : $254.02M
EBITDA (TTM) FSM : $743.42M SVM : $185.32M

Return for Risk

FSM vs. SVM — Risk / Return Rank

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

FSM

FSM Risk / Return Rank: 55
FSM Sharpe Ratio Rank: 56
FSM Sortino Ratio Rank: 53
FSM Omega Ratio Rank: 53
FSM Calmar Ratio Rank: 57
FSM Martin Ratio Rank: 58

SVM

SVM Risk / Return Rank: 88
SVM Sharpe Ratio Rank: 92
SVM Sortino Ratio Rank: 84
SVM Omega Ratio Rank: 84
SVM Calmar Ratio Rank: 91
SVM Martin Ratio Rank: 91

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. SVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fortuna Silver Mines Inc. (FSM) and Silvercorp Metals Inc. (SVM). 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.

	FSM	SVM	Difference
Sharpe ratio: Return per unit of total volatility	0.41	2.31	-1.91
Sortino ratio: Return per unit of downside risk	0.91	2.52	-1.61
Omega ratio: Gain probability vs. loss probability	1.12	1.33	-0.21
Calmar ratio: Return relative to maximum drawdown	0.62	4.57	-3.95
Martin ratio: Return relative to average drawdown	1.51	12.47	-10.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSM vs. SVM - Sharpe Ratio Comparison

The current FSM Sharpe Ratio is 0.41, which is lower than the SVM Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of FSM and SVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSM	SVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.41	2.31	-1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.22	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.05	0.30	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.17	-0.05

Drawdowns

FSM vs. SVM - Drawdown Comparison

The maximum FSM drawdown since its inception was -92.25%, smaller than the maximum SVM drawdown of -98.00%. Use the drawdown chart below to compare losses from any high point for FSM and SVM.

Drawdown Indicators

	FSM	SVM	Difference
Max Drawdown Largest peak-to-trough decline	-92.25%	-98.00%	+5.75%
Max Drawdown (1Y) Largest decline over 1 year	-37.26%	-34.46%	-2.80%
Max Drawdown (3Y) Largest decline over 3 years	-37.26%	-42.86%	+5.60%
Max Drawdown (5Y) Largest decline over 5 years	-69.35%	-68.10%	-1.25%
Max Drawdown (10Y) Largest decline over 10 years	-81.07%	-76.19%	-4.88%
Current Drawdown Current decline from peak	-35.80%	-46.09%	+10.29%
Average Drawdown Average peak-to-trough decline	-45.17%	-71.67%	+26.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.37%	12.59%	+2.78%

Volatility

FSM vs. SVM - Volatility Comparison

The current volatility for Fortuna Silver Mines Inc. (FSM) is 15.57%, while Silvercorp Metals Inc. (SVM) has a volatility of 25.49%. This indicates that FSM experiences smaller price fluctuations and is considered to be less risky than SVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSM	SVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.57%	25.49%	-9.92%
Volatility (6M) Calculated over the trailing 6-month period	44.86%	55.03%	-10.17%
Volatility (1Y) Calculated over the trailing 1-year period	57.05%	68.20%	-11.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.36%	55.30%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.44%	61.63%	-2.19%

Dividends

FSM vs. SVM - Dividend Comparison

FSM has not paid dividends to shareholders, while SVM's dividend yield for the trailing twelve months is around 0.23%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSM Fortuna Silver Mines Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SVM Silvercorp Metals Inc.	0.23%	0.30%	0.83%	0.95%	0.84%	0.66%	0.37%	0.44%	1.19%	0.76%	0.43%	2.13%

Financials

FSM vs. SVM - Profitability Comparison

The chart below illustrates the profitability comparison between Fortuna Silver Mines Inc. and Silvercorp Metals Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FSM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fortuna Silver Mines Inc. reported a gross profit of 211.84M and revenue of 342.47M. Therefore, the gross margin over that period was 61.9%.

SVM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Silvercorp Metals Inc. reported a gross profit of 99.96M and revenue of 145.32M. Therefore, the gross margin over that period was 68.8%.

FSM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fortuna Silver Mines Inc. reported an operating income of 182.18M and revenue of 342.47M, resulting in an operating margin of 53.2%.

SVM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Silvercorp Metals Inc. reported an operating income of 93.44M and revenue of 145.32M, resulting in an operating margin of 64.3%.

FSM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fortuna Silver Mines Inc. reported a net income of 111.01M and revenue of 342.47M, resulting in a net margin of 32.4%.

SVM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Silvercorp Metals Inc. reported a net income of -606.31K and revenue of 145.32M, resulting in a net margin of -0.4%.

Frequently Asked Questions

Can I hold both FSM and SVM in my portfolio?

FSM and SVM have a correlation of 0.75, 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 SVM?

SVM has higher volatility (25.49%) compared to FSM (15.57%). In terms of maximum drawdown, FSM dropped -92.25% vs SVM's -98.00%.

Which has better risk-adjusted returns?

SVM currently has the higher Sharpe Ratio (2.31 vs 0.41), 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.