KGC vs. AIRR

Last updated Jun 9, 2026

KGC (Kinross Gold Corporation) is a stock, while AIRR (First Trust RBA American Industrial Renaissance ETF) is Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Over the past 10 years, KGC returned 18.75%/yr vs 21.61%/yr for AIRR. At a 0.13 correlation, their price movements are largely independent.

Performance

KGC vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kinross Gold Corporation (KGC) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KGC achieves a -7.93% return, which is significantly lower than AIRR's 30.41% return. Over the past 10 years, KGC has underperformed AIRR with an annualized return of 18.75%, while AIRR has yielded a comparatively higher 21.61% annualized return.

KGC

• 1D: -1.37%
• 1M: -17.82%
• YTD: -7.93%
• 6M: -2.01%
• 1Y: 72.32%
• 3Y*: 76.89%
• 5Y*: 29.50%
• 10Y*: 18.75%

AIRR

• 1D: 0.13%
• 1M: -1.14%
• YTD: 30.41%
• 6M: 29.32%
• 1Y: 61.66%
• 3Y*: 35.42%
• 5Y*: 24.95%
• 10Y*: 21.61%

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

KGC vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KGC Kinross Gold Corporation	-7.93%	206.11%	55.63%	51.83%	-27.59%	-19.00%	56.04%	46.30%	-25.00%	38.91%
AIRR First Trust RBA American Industrial Renaissance ETF	30.41%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%

Correlation

The correlation between KGC and AIRR is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014	0.13

The correlation between KGC and AIRR shifts across timeframes, from 0.13 (10 years) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

KGC vs. AIRR — Risk / Return Rank

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

KGC

KGC Risk / Return Rank: 78
KGC Sharpe Ratio Rank: 81
KGC Sortino Ratio Rank: 73
KGC Omega Ratio Rank: 76
KGC Calmar Ratio Rank: 78
KGC Martin Ratio Rank: 80

AIRR

AIRR Risk / Return Rank: 82
AIRR Sharpe Ratio Rank: 83
AIRR Sortino Ratio Rank: 79
AIRR Omega Ratio Rank: 73
AIRR Calmar Ratio Rank: 88
AIRR Martin Ratio Rank: 88

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.

KGC vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinross Gold Corporation (KGC) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

	KGC	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	1.43	2.43	-1.00
Sortino ratio: Return per unit of downside risk	1.85	3.16	-1.32
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.13
Calmar ratio: Return relative to maximum drawdown	2.28	4.74	-2.46
Martin ratio: Return relative to average drawdown	6.11	17.47	-11.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KGC vs. AIRR - Sharpe Ratio Comparison

The current KGC Sharpe Ratio is 1.43, which is lower than the AIRR Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of KGC and AIRR, 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

	KGC	AIRR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	2.43	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.99	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.82	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.66	-0.59

Drawdowns

KGC vs. AIRR - Drawdown Comparison

The maximum KGC drawdown since its inception was -96.00%, which is greater than AIRR's maximum drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for KGC and AIRR.

Drawdown Indicators

	KGC	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-96.00%	-42.37%	-53.63%
Max Drawdown (1Y) Largest decline over 1 year	-31.89%	-13.09%	-18.80%
Max Drawdown (3Y) Largest decline over 3 years	-31.89%	-27.95%	-3.94%
Max Drawdown (5Y) Largest decline over 5 years	-60.31%	-27.95%	-32.36%
Max Drawdown (10Y) Largest decline over 10 years	-67.75%	-42.37%	-25.38%
Current Drawdown Current decline from peak	-31.89%	-2.88%	-29.01%
Average Drawdown Average peak-to-trough decline	-57.62%	-7.42%	-50.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.88%	3.54%	+8.34%

Volatility

KGC vs. AIRR - Volatility Comparison

Kinross Gold Corporation (KGC) has a higher volatility of 16.41% compared to First Trust RBA American Industrial Renaissance ETF (AIRR) at 7.07%. This indicates that KGC's price experiences larger fluctuations and is considered to be riskier than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KGC	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.41%	7.07%	+9.34%
Volatility (6M) Calculated over the trailing 6-month period	39.75%	20.10%	+19.65%
Volatility (1Y) Calculated over the trailing 1-year period	50.78%	25.55%	+25.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.07%	25.33%	+18.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.95%	26.30%	+20.65%

Dividends

KGC vs. AIRR - Dividend Comparison

KGC's dividend yield for the trailing twelve months is around 0.56%, more than AIRR's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.14%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
KGC Kinross Gold Corporation	0.56%	0.44%	1.29%	1.98%	2.93%	2.69%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KGC and AIRR in my portfolio?

KGC and AIRR have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KGC or AIRR?

KGC has higher volatility (16.41%) compared to AIRR (7.07%). In terms of maximum drawdown, KGC dropped -96.00% vs AIRR's -42.37%.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.43 vs 1.43), 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.