HL vs. WPM
HL (Hecla Mining Company) and WPM (Wheaton Precious Metals Corp.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, HL returned 13.60%/yr vs 20.74%/yr for WPM. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
HL vs. WPM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HL achieves a -16.80% return, which is significantly lower than WPM's 4.62% return. Over the past 10 years, HL has underperformed WPM with an annualized return of 13.60%, while WPM has yielded a comparatively higher 20.74% annualized return.
HL
- 1D
- -0.62%
- 1M
- -6.01%
- YTD
- -16.80%
- 6M
- -18.83%
- 1Y
- 176.93%
- 3Y*
- 45.11%
- 5Y*
- 16.73%
- 10Y*
- 13.60%
WPM
- 1D
- -2.61%
- 1M
- -2.98%
- YTD
- 4.62%
- 6M
- 2.71%
- 1Y
- 38.33%
- 3Y*
- 41.11%
- 5Y*
- 24.34%
- 10Y*
- 20.74%
HL vs. WPM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HL Hecla Mining Company | -16.80% | 291.70% | 2.82% | -12.93% | 6.99% | -18.97% | 91.83% | 44.43% | -40.37% | -24.08% |
WPM Wheaton Precious Metals Corp. | 4.62% | 110.52% | 15.24% | 27.91% | -7.53% | 4.22% | 41.82% | 54.62% | -10.04% | 16.41% |
Correlation
The correlation between HL and WPM 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 | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.70 |
The correlation between HL and WPM has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.
Fundamentals
HL:
$10.78B
WPM:
$55.76B
HL:
$0.84
WPM:
$3.96
HL:
18.98
WPM:
30.96
HL:
0.08
WPM:
0.83
HL:
6.75
WPM:
20.30
HL:
4.19
WPM:
6.01
HL:
$1.57B
WPM:
$2.75B
HL:
$788.95M
WPM:
$2.12B
HL:
$864.40M
WPM:
$2.38B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HL vs. WPM — Risk / Return Rank
HL
WPM
HL vs. WPM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hecla Mining Company (HL) and Wheaton Precious Metals Corp. (WPM). 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.
| HL | WPM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.16 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 1.02 | +2.03 |
| Martin ratioReturn relative to average drawdown | 6.68 | 2.82 | +3.86 |
Loading charts...
Drawdowns
HL vs. WPM - Drawdown Comparison
The maximum HL drawdown since its inception was -97.92%, which is greater than WPM's maximum drawdown of -48.64%. Use the drawdown chart below to compare losses from any high point for HL and WPM.
Loading charts...
Drawdown Indicators
| HL | WPM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.92% | -48.64% | -49.28% |
Max Drawdown (1Y)Largest decline over 1 year | -55.81% | -34.92% | -20.89% |
Max Drawdown (3Y)Largest decline over 3 years | -55.81% | -34.92% | -20.89% |
Max Drawdown (5Y)Largest decline over 5 years | -57.07% | -43.29% | -13.78% |
Max Drawdown (10Y)Largest decline over 10 years | -82.45% | -48.64% | -33.81% |
Current DrawdownCurrent decline from peak | -49.81% | -25.81% | -24.00% |
Average DrawdownAverage peak-to-trough decline | -69.92% | -18.88% | -51.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.41% | 12.59% | +12.82% |
Volatility
HL vs. WPM - Volatility Comparison
Hecla Mining Company (HL) has a higher volatility of 21.47% compared to Wheaton Precious Metals Corp. (WPM) at 17.32%. This indicates that HL's price experiences larger fluctuations and is considered to be riskier than WPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HL | WPM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.47% | 17.32% | +4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 54.38% | 39.77% | +14.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.17% | 46.63% | +26.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.33% | 35.56% | +23.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.81% | 36.83% | +25.98% |
Dividends
HL vs. WPM - Dividend Comparison
HL's dividend yield for the trailing twelve months is around 0.09%, less than WPM's 0.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HL Hecla Mining Company | 0.09% | 0.08% | 0.81% | 0.65% | 0.40% | 0.72% | 0.25% | 0.29% | 0.42% | 0.25% | 0.19% | 0.53% |
WPM Wheaton Precious Metals Corp. | 0.59% | 0.56% | 1.10% | 1.22% | 1.54% | 1.33% | 1.01% | 1.21% | 1.84% | 1.49% | 1.09% | 0.00% |
Financials
HL vs. WPM - Financials Comparison
This section allows you to compare key financial metrics between Hecla Mining Company and Wheaton Precious Metals Corp.. 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
HL vs. WPM - Profitability Comparison
HL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported a gross profit of 253.26M and revenue of 411.43M. Therefore, the gross margin over that period was 61.6%.
WPM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported a gross profit of 689.26M and revenue of 888.98M. Therefore, the gross margin over that period was 77.5%.
HL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported an operating income of 223.11M and revenue of 411.43M, resulting in an operating margin of 54.2%.
WPM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported an operating income of 666.92M and revenue of 888.98M, resulting in an operating margin of 75.0%.
HL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported a net income of 266.45M and revenue of 411.43M, resulting in a net margin of 64.8%.
WPM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported a net income of 573.98M and revenue of 888.98M, resulting in a net margin of 64.6%.
Frequently Asked Questions
HL and WPM 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.
HL has higher volatility (21.47%) compared to WPM (17.32%). In terms of maximum drawdown, HL dropped -97.92% vs WPM's -48.64%.
HL currently has the higher Sharpe Ratio (2.33 vs 0.76), 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.
Find the right allocation for HL and WPM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer