MNS.TO vs. AGCC.TO

Last updated Jun 4, 2026

MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) and AGCC.TO (Global X Silver Covered Call ETF) are both Silver funds. MNS.TO is passively managed, while AGCC.TO is actively managed. Their correlation of 0.89 suggests significant overlap in exposure. MNS.TO charges 0.45%/yr vs 0.60%/yr for AGCC.TO.

Performance

MNS.TO vs. AGCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) and Global X Silver Covered Call ETF (AGCC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNS.TO achieves a -8.40% return, which is significantly lower than AGCC.TO's 1.95% return.

MNS.TO

• 1D: -2.02%
• 1M: 1.76%
• YTD: -8.40%
• 6M: 21.27%
• 1Y: 101.71%
• 3Y*: 47.34%
• 5Y*: 23.26%
• 10Y*: 16.17%

AGCC.TO

• 1D: -2.45%
• 1M: 1.43%
• YTD: 1.95%
• 6M: 19.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MNS.TO vs. AGCC.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	-8.40%	53.82%
AGCC.TO Global X Silver Covered Call ETF	1.95%	37.24%

Correlation

The correlation between MNS.TO and AGCC.TO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.89

Return for Risk

MNS.TO vs. AGCC.TO — Risk / Return Rank

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

MNS.TO

MNS.TO Risk / Return Rank: 48
MNS.TO Sharpe Ratio Rank: 55
MNS.TO Sortino Ratio Rank: 39
MNS.TO Omega Ratio Rank: 56
MNS.TO Calmar Ratio Rank: 53
MNS.TO Martin Ratio Rank: 37

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.

MNS.TO vs. AGCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) and Global X Silver Covered Call ETF (AGCC.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.

	MNS.TO	AGCC.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.89	—	—
Sortino ratio: Return per unit of downside risk	2.05	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.67	—	—
Martin ratio: Return relative to average drawdown	5.94	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MNS.TO	AGCC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	1.06	-0.77

Drawdowns

MNS.TO vs. AGCC.TO - Drawdown Comparison

The maximum MNS.TO drawdown since its inception was -51.12%, which is greater than AGCC.TO's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for MNS.TO and AGCC.TO.

Drawdown Indicators

	MNS.TO	AGCC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-51.12%	-39.17%	-11.95%
Max Drawdown (1Y) Largest decline over 1 year	-38.31%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-38.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.31%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	—	—
Current Drawdown Current decline from peak	-31.98%	-32.43%	+0.45%
Average Drawdown Average peak-to-trough decline	-28.15%	-16.63%	-11.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.19%	—	—

Volatility

Volatility by Period

	MNS.TO	AGCC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	52.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.03%	64.60%	-10.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.67%	64.60%	-29.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.05%	64.60%	-32.55%

MNS.TO vs. AGCC.TO - Expense Ratio Comparison

MNS.TO has a 0.45% expense ratio, which is lower than AGCC.TO's 0.60% expense ratio.

Dividends

MNS.TO vs. AGCC.TO - Dividend Comparison

MNS.TO has not paid dividends to shareholders, while AGCC.TO's dividend yield for the trailing twelve months is around 5.55%.

Position	TTM	2025
AGCC.TO Global X Silver Covered Call ETF	5.55%	1.49%
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	0.00%	0.00%

Frequently Asked Questions

Can I hold both MNS.TO and AGCC.TO in my portfolio?

MNS.TO and AGCC.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MNS.TO or AGCC.TO?

On fees, MNS.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNS.TO or AGCC.TO?

MNS.TO is cheaper with a 0.45% expense ratio, compared with 0.60% for AGCC.TO.

What is the main difference between MNS.TO and AGCC.TO?

They also come from different issuers: Royal Canadian Mint and Global X. Their fees differ too: 0.45% for MNS.TO and 0.60% for AGCC.TO.