NEXT.TO vs. LIF.TO

Last updated Jun 5, 2026

NEXT.TO (NextSource Materials Inc.) and LIF.TO (Labrador Iron Ore Royalty Corporation) are both stocks. Both are in the Basic Materials sector — NEXT.TO in Other Industrial Metals & Mining, LIF.TO in Steel. Over the past 10 years, NEXT.TO returned -7.17%/yr vs 19.40%/yr for LIF.TO. At a 0.07 correlation, their price movements are largely independent.

Performance

NEXT.TO vs. LIF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in NextSource Materials Inc. (NEXT.TO) and Labrador Iron Ore Royalty Corporation (LIF.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEXT.TO achieves a 11.76% return, which is significantly higher than LIF.TO's -5.42% return. Over the past 10 years, NEXT.TO has underperformed LIF.TO with an annualized return of -7.17%, while LIF.TO has yielded a comparatively higher 19.40% annualized return.

NEXT.TO

• 1D: -5.00%
• 1M: 15.15%
• YTD: 11.76%
• 6M: -7.32%
• 1Y: 46.15%
• 3Y*: -42.51%
• 5Y*: -35.56%
• 10Y*: -7.17%

LIF.TO

• 1D: -1.06%
• 1M: 1.23%
• YTD: -5.42%
• 6M: -5.85%
• 1Y: 0.09%
• 3Y*: 3.58%
• 5Y*: -1.01%
• 10Y*: 19.40%

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

NEXT.TO vs. LIF.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEXT.TO NextSource Materials Inc.	11.76%	-53.42%	-39.17%	-56.04%	-16.26%	262.22%	100.00%	-50.00%	38.46%	-0.00%
LIF.TO Labrador Iron Ore Royalty Corporation	-5.42%	8.89%	0.14%	2.89%	-1.55%	33.21%	47.82%	17.31%	-4.27%	67.14%

Correlation

The correlation between NEXT.TO and LIF.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since May 6, 2010	0.07

The correlation between NEXT.TO and LIF.TO shifts across timeframes, from 0.05 (3 years) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NEXT.TO : CA$70.32M LIF.TO : CA$1.79B
EPS NEXT.TO : -CA$0.22 LIF.TO : CA$1.45
PS Ratio NEXT.TO : 61.16 LIF.TO : 10.76
PB Ratio NEXT.TO : 1.85 LIF.TO : 2.80
Total Revenue (TTM) NEXT.TO : CA$1.15M LIF.TO : CA$165.74M
Gross Profit (TTM) NEXT.TO : -CA$10.68M LIF.TO : CA$159.74M
EBITDA (TTM) NEXT.TO : -CA$37.40M LIF.TO : CA$93.44M

Return for Risk

NEXT.TO vs. LIF.TO — Risk / Return Rank

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

NEXT.TO

NEXT.TO Risk / Return Rank: 59
NEXT.TO Sharpe Ratio Rank: 57
NEXT.TO Sortino Ratio Rank: 63
NEXT.TO Omega Ratio Rank: 61
NEXT.TO Calmar Ratio Rank: 60
NEXT.TO Martin Ratio Rank: 55

LIF.TO

LIF.TO Risk / Return Rank: 38
LIF.TO Sharpe Ratio Rank: 42
LIF.TO Sortino Ratio Rank: 34
LIF.TO Omega Ratio Rank: 34
LIF.TO Calmar Ratio Rank: 41
LIF.TO Martin Ratio Rank: 41

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.

NEXT.TO vs. LIF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NextSource Materials Inc. (NEXT.TO) and Labrador Iron Ore Royalty Corporation (LIF.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.

	NEXT.TO	LIF.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.46	0.00	+0.45
Sortino ratio: Return per unit of downside risk	1.39	0.14	+1.25
Omega ratio: Gain probability vs. loss probability	1.17	1.02	+0.15
Calmar ratio: Return relative to maximum drawdown	0.80	0.01	+0.79
Martin ratio: Return relative to average drawdown	1.38	0.02	+1.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEXT.TO vs. LIF.TO - Sharpe Ratio Comparison

The current NEXT.TO Sharpe Ratio is 0.46, which is higher than the LIF.TO Sharpe Ratio of 0.00. The chart below compares the historical Sharpe Ratios of NEXT.TO and LIF.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

	NEXT.TO	LIF.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	0.00	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	-0.04	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.07	0.58	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	0.31	-0.44

Drawdowns

NEXT.TO vs. LIF.TO - Drawdown Comparison

The maximum NEXT.TO drawdown since its inception was -97.46%, which is greater than LIF.TO's maximum drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for NEXT.TO and LIF.TO.

Drawdown Indicators

	NEXT.TO	LIF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-97.46%	-76.24%	-21.22%
Max Drawdown (1Y) Largest decline over 1 year	-58.06%	-14.38%	-43.68%
Max Drawdown (3Y) Largest decline over 3 years	-92.49%	-16.63%	-75.86%
Max Drawdown (5Y) Largest decline over 5 years	-96.47%	-46.48%	-49.99%
Max Drawdown (10Y) Largest decline over 10 years	-96.67%	-57.86%	-38.81%
Current Drawdown Current decline from peak	-93.97%	-22.03%	-71.94%
Average Drawdown Average peak-to-trough decline	-74.54%	-19.64%	-54.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.69%	6.03%	+27.66%

Volatility

NEXT.TO vs. LIF.TO - Volatility Comparison

NextSource Materials Inc. (NEXT.TO) has a higher volatility of 17.84% compared to Labrador Iron Ore Royalty Corporation (LIF.TO) at 5.68%. This indicates that NEXT.TO's price experiences larger fluctuations and is considered to be riskier than LIF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEXT.TO	LIF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.84%	5.68%	+12.16%
Volatility (6M) Calculated over the trailing 6-month period	59.86%	16.40%	+43.46%
Volatility (1Y) Calculated over the trailing 1-year period	101.28%	19.56%	+81.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.02%	28.30%	+52.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	104.12%	33.52%	+70.60%

Dividends

NEXT.TO vs. LIF.TO - Dividend Comparison

NEXT.TO has not paid dividends to shareholders, while LIF.TO's dividend yield for the trailing twelve months is around 4.83%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIF.TO Labrador Iron Ore Royalty Corporation	4.83%	5.19%	10.37%	7.99%	9.23%	15.99%	9.35%	16.25%	7.22%	9.74%	5.37%	10.43%
NEXT.TO NextSource Materials Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both NEXT.TO and LIF.TO in my portfolio?

NEXT.TO and LIF.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.