MMA.AX vs. OILY.TO

Last updated Jun 4, 2026

MMA.AX (Maronan Metals Limited) is a stock, while OILY.TO (Evolve Canadian Energy Enhanced Yield Index Fund ETF) is Energy Equities fund tracking the Solactive Canada Energy Top 10 Index. Over the past year, MMA.AX returned 69.57% vs 34.92% for OILY.TO. At a 0.04 correlation, their price movements are largely independent.

Performance

MMA.AX vs. OILY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Maronan Metals Limited (MMA.AX) and Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MMA.AX is traded in AUD, while OILY.TO is traded in CAD. To make them comparable, the OILY.TO values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MMA.AX achieves a -7.14% return, which is significantly lower than OILY.TO's 25.17% return.

MMA.AX

• 1D: -1.27%
• 1M: 25.81%
• YTD: -7.14%
• 6M: 9.86%
• 1Y: 69.57%
• 3Y*: 19.25%
• 5Y*: —
• 10Y*: —

OILY.TO

• 1D: 1.17%
• 1M: 0.07%
• YTD: 25.17%
• 6M: 21.09%
• 1Y: 34.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMA.AX vs. OILY.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MMA.AX Maronan Metals Limited	-7.14%	52.73%
OILY.TO Evolve Canadian Energy Enhanced Yield Index Fund ETF	25.17%	2.33%

Correlation

The correlation between MMA.AX and OILY.TO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025	0.04

Return for Risk

MMA.AX vs. OILY.TO — Risk / Return Rank

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

MMA.AX

MMA.AX Risk / Return Rank: 66
MMA.AX Sharpe Ratio Rank: 66
MMA.AX Sortino Ratio Rank: 69
MMA.AX Omega Ratio Rank: 64
MMA.AX Calmar Ratio Rank: 66
MMA.AX Martin Ratio Rank: 63

OILY.TO

OILY.TO Risk / Return Rank: 77
OILY.TO Sharpe Ratio Rank: 80
OILY.TO Sortino Ratio Rank: 72
OILY.TO Omega Ratio Rank: 72
OILY.TO Calmar Ratio Rank: 84
OILY.TO Martin Ratio Rank: 74

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.

MMA.AX vs. OILY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Maronan Metals Limited (MMA.AX) and Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO). 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.

	MMA.AX	OILY.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.69	-0.92
Sortino ratio: Return per unit of downside risk	1.65	2.20	-0.55
Omega ratio: Gain probability vs. loss probability	1.19	1.29	-0.10
Calmar ratio: Return relative to maximum drawdown	1.24	2.59	-1.35
Martin ratio: Return relative to average drawdown	2.39	7.91	-5.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMA.AX vs. OILY.TO - Sharpe Ratio Comparison

The current MMA.AX Sharpe Ratio is 0.77, which is lower than the OILY.TO Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MMA.AX and OILY.TO, 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

	MMA.AX	OILY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	1.69	-0.92
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.94	-0.89

Drawdowns

MMA.AX vs. OILY.TO - Drawdown Comparison

The maximum MMA.AX drawdown since its inception was -55.64%, which is greater than OILY.TO's maximum drawdown of -20.33%. Use the drawdown chart below to compare losses from any high point for MMA.AX and OILY.TO.

Drawdown Indicators

	MMA.AX	OILY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-55.64%	-20.33%	-35.31%
Max Drawdown (1Y) Largest decline over 1 year	-55.64%	-13.54%	-42.10%
Max Drawdown (3Y) Largest decline over 3 years	-55.64%	—	—
Current Drawdown Current decline from peak	-41.35%	-4.53%	-36.82%
Average Drawdown Average peak-to-trough decline	-33.77%	-4.89%	-28.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.93%	4.43%	+24.50%

Volatility

MMA.AX vs. OILY.TO - Volatility Comparison

Maronan Metals Limited (MMA.AX) has a higher volatility of 22.86% compared to Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO) at 9.22%. This indicates that MMA.AX's price experiences larger fluctuations and is considered to be riskier than OILY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMA.AX	OILY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.86%	9.22%	+13.64%
Volatility (6M) Calculated over the trailing 6-month period	70.74%	17.85%	+52.89%
Volatility (1Y) Calculated over the trailing 1-year period	88.96%	20.81%	+68.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.72%	24.97%	+50.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.72%	24.97%	+50.75%

Dividends

MMA.AX vs. OILY.TO - Dividend Comparison

MMA.AX has not paid dividends to shareholders, while OILY.TO's dividend yield for the trailing twelve months is around 12.68%.

Position	TTM	2025
MMA.AX Maronan Metals Limited	0.00%	0.00%
OILY.TO Evolve Canadian Energy Enhanced Yield Index Fund ETF	12.68%	11.50%

Frequently Asked Questions

Can I hold both MMA.AX and OILY.TO in my portfolio?

MMA.AX and OILY.TO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.