PME.AX vs. FMG.AX

Last updated Apr 1, 2026

Compare and contrast key facts about Pro Medicus Limited (PME.AX) and Fortescue Ltd (FMG.AX).

Performance

PME.AX vs. FMG.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Pro Medicus Limited (PME.AX) and Fortescue Ltd (FMG.AX). The values are adjusted to include any dividend payments, if applicable.

PME.AX vs. FMG.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PME.AX Pro Medicus Limited	-46.93%	-11.52%	161.84%	74.19%	-11.11%	83.31%	53.66%	106.06%	25.55%	83.18%
FMG.AX Fortescue Ltd	-4.94%	28.03%	-31.08%	53.97%	20.41%	-2.86%	150.31%	195.69%	-9.50%	-10.85%

Returns By Period

In the year-to-date period, PME.AX achieves a -46.93% return, which is significantly lower than FMG.AX's -4.94% return. Over the past 10 years, PME.AX has outperformed FMG.AX with an annualized return of 43.00%, while FMG.AX has yielded a comparatively lower 35.77% annualized return.

PME.AX

• 1D: 2.01%
• 1M: -10.08%
• YTD: -46.93%
• 6M: -61.98%
• 1Y: -41.27%
• 3Y*: 22.74%
• 5Y*: 22.42%
• 10Y*: 43.00%

FMG.AX

• 1D: -1.17%
• 1M: -1.02%
• YTD: -4.94%
• 6M: 12.01%
• 1Y: 40.50%
• 3Y*: 4.42%
• 5Y*: 10.42%
• 10Y*: 35.77%

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

Return for Risk

PME.AX vs. FMG.AX — Risk / Return Rank

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

PME.AX

PME.AX Risk / Return Rank: 13
PME.AX Sharpe Ratio Rank: 8
PME.AX Sortino Ratio Rank: 11
PME.AX Omega Ratio Rank: 10
PME.AX Calmar Ratio Rank: 21
PME.AX Martin Ratio Rank: 13

FMG.AX

FMG.AX Risk / Return Rank: 79
FMG.AX Sharpe Ratio Rank: 82
FMG.AX Sortino Ratio Rank: 76
FMG.AX Omega Ratio Rank: 73
FMG.AX Calmar Ratio Rank: 82
FMG.AX Martin Ratio Rank: 81

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.

PME.AX vs. FMG.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pro Medicus Limited (PME.AX) and Fortescue Ltd (FMG.AX). 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.

	PME.AX	FMG.AX	Difference
Sharpe ratio Return per unit of total volatility	-0.84	1.33	-2.17
Sortino ratio Return per unit of downside risk	-1.05	1.88	-2.94
Omega ratio Gain probability vs. loss probability	0.85	1.23	-0.38
Calmar ratio Return relative to maximum drawdown	-0.61	2.53	-3.14
Martin ratio Return relative to average drawdown	-1.40	6.21	-7.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PME.AX vs. FMG.AX - Sharpe Ratio Comparison

The current PME.AX Sharpe Ratio is -0.84, which is lower than the FMG.AX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of PME.AX and FMG.AX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PME.AX	FMG.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	1.33	-2.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.29	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.99	0.91	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.16	+0.28

Correlation

The correlation between PME.AX and FMG.AX is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PME.AX vs. FMG.AX - Dividend Comparison

PME.AX's dividend yield for the trailing twelve months is around 0.53%, less than FMG.AX's 6.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PME.AX Pro Medicus Limited	0.53%	0.25%	0.16%	0.31%	0.40%	0.24%	0.35%	0.31%	0.55%	0.46%	0.62%	0.60%
FMG.AX Fortescue Ltd	6.01%	5.00%	10.79%	6.03%	10.09%	18.64%	7.51%	10.66%	5.49%	9.22%	2.55%	2.67%

Drawdowns

PME.AX vs. FMG.AX - Drawdown Comparison

The maximum PME.AX drawdown since its inception was -88.06%, smaller than the maximum FMG.AX drawdown of -98.75%. Use the drawdown chart below to compare losses from any high point for PME.AX and FMG.AX.

Drawdown Indicators

	PME.AX	FMG.AX	Difference
Max Drawdown Largest peak-to-trough decline	-88.06%	-98.75%	+10.69%
Max Drawdown (1Y) Largest decline over 1 year	-67.24%	-15.00%	-52.24%
Max Drawdown (5Y) Largest decline over 5 years	-67.24%	-46.43%	-20.81%
Max Drawdown (10Y) Largest decline over 10 years	-67.24%	-46.43%	-20.81%
Current Drawdown Current decline from peak	-64.49%	-18.53%	-45.96%
Average Drawdown Average peak-to-trough decline	-28.57%	-60.07%	+31.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.45%	6.12%	+23.33%

Volatility

PME.AX vs. FMG.AX - Volatility Comparison

Pro Medicus Limited (PME.AX) has a higher volatility of 17.13% compared to Fortescue Ltd (FMG.AX) at 11.31%. This indicates that PME.AX's price experiences larger fluctuations and is considered to be riskier than FMG.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PME.AX	FMG.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.13%	11.31%	+5.82%
Volatility (6M) Calculated over the trailing 6-month period	43.81%	21.02%	+22.79%
Volatility (1Y) Calculated over the trailing 1-year period	49.28%	30.50%	+18.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.67%	35.26%	+5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.24%	38.96%	+4.28%

Financials