IVN.TO vs. ^TNX

Last updated Jun 4, 2026

IVN.TO (Ivanhoe Mines Ltd.) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, IVN.TO returned 28.58%/yr vs 10.97%/yr for ^TNX. At a correlation of -0.01, they often move in opposite directions.

Performance

IVN.TO vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Ivanhoe Mines Ltd. (IVN.TO) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IVN.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IVN.TO achieves a -20.88% return, which is significantly lower than ^TNX's 9.25% return. Over the past 10 years, IVN.TO has outperformed ^TNX with an annualized return of 28.58%, while ^TNX has yielded a comparatively lower 10.97% annualized return.

IVN.TO

• 1D: -4.19%
• 1M: 16.18%
• YTD: -20.88%
• 6M: -20.88%
• 1Y: 15.42%
• 3Y*: 3.56%
• 5Y*: 7.09%
• 10Y*: 28.58%

^TNX

• 1D: 1.22%
• 1M: 3.03%
• YTD: 9.25%
• 6M: 10.27%
• 1Y: 1.99%
• 3Y*: 8.00%
• 5Y*: 27.08%
• 10Y*: 10.97%

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

IVN.TO vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVN.TO Ivanhoe Mines Ltd.	-20.88%	-8.50%	32.76%	20.09%	3.68%	50.44%	61.41%	79.32%	-44.10%	66.93%
^TNX Treasury Yield 10 Years	9.25%	-13.14%	28.45%	-2.53%	174.83%	63.40%	-53.02%	-32.07%	21.16%	-7.94%

Correlation

The correlation between IVN.TO and ^TNX is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (5Y) Calculated over the trailing 5-year period	-0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.00
Correlation (All Time) Calculated using the full available price history since Oct 18, 2012	-0.01

Over the past year, the inverse relationship between IVN.TO and ^TNX has strengthened: their correlation has moved from -0.01 to -0.21, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

IVN.TO vs. ^TNX — Risk / Return Rank

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

IVN.TO

IVN.TO Risk / Return Rank: 49
IVN.TO Sharpe Ratio Rank: 50
IVN.TO Sortino Ratio Rank: 49
IVN.TO Omega Ratio Rank: 46
IVN.TO Calmar Ratio Rank: 48
IVN.TO Martin Ratio Rank: 49

^TNX

^TNX Risk / Return Rank: 12
^TNX Sharpe Ratio Rank: 12
^TNX Sortino Ratio Rank: 11
^TNX Omega Ratio Rank: 11
^TNX Calmar Ratio Rank: 12
^TNX Martin Ratio Rank: 12

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.

IVN.TO vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ivanhoe Mines Ltd. (IVN.TO) and Treasury Yield 10 Years (^TNX). 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.

	IVN.TO	^TNX	Difference
Sharpe ratio: Return per unit of total volatility	0.28	0.12	+0.16
Sortino ratio: Return per unit of downside risk	0.78	0.29	+0.49
Omega ratio: Gain probability vs. loss probability	1.09	1.03	+0.06
Calmar ratio: Return relative to maximum drawdown	0.34	0.16	+0.18
Martin ratio: Return relative to average drawdown	0.75	0.32	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVN.TO vs. ^TNX - Sharpe Ratio Comparison

The current IVN.TO Sharpe Ratio is 0.28, which is higher than the ^TNX Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of IVN.TO and ^TNX, 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

	IVN.TO	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	0.12	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.82	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.23	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.05	+0.07

Drawdowns

IVN.TO vs. ^TNX - Drawdown Comparison

The maximum IVN.TO drawdown since its inception was -89.81%, which is greater than ^TNX's maximum drawdown of -83.97%. Use the drawdown chart below to compare losses from any high point for IVN.TO and ^TNX.

Drawdown Indicators

	IVN.TO	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-89.81%	-83.97%	-5.84%
Max Drawdown (1Y) Largest decline over 1 year	-45.14%	-12.47%	-32.67%
Max Drawdown (3Y) Largest decline over 3 years	-53.57%	-28.10%	-25.47%
Max Drawdown (5Y) Largest decline over 5 years	-53.57%	-28.10%	-25.47%
Max Drawdown (10Y) Largest decline over 10 years	-62.55%	-83.93%	+21.38%
Current Drawdown Current decline from peak	-41.96%	-9.63%	-32.33%
Average Drawdown Average peak-to-trough decline	-37.44%	-32.52%	-4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.68%	6.24%	+14.44%

Volatility

IVN.TO vs. ^TNX - Volatility Comparison

Ivanhoe Mines Ltd. (IVN.TO) has a higher volatility of 16.24% compared to Treasury Yield 10 Years (^TNX) at 5.28%. This indicates that IVN.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVN.TO	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.24%	5.28%	+10.96%
Volatility (6M) Calculated over the trailing 6-month period	43.61%	11.60%	+32.01%
Volatility (1Y) Calculated over the trailing 1-year period	55.29%	17.01%	+38.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.96%	33.42%	+17.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.74%	48.26%	+5.48%

Frequently Asked Questions

Can I hold both IVN.TO and ^TNX in my portfolio?

IVN.TO and ^TNX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.