RGLD vs. FNV

Last updated Apr 1, 2026

Compare and contrast key facts about Royal Gold, Inc. (RGLD) and Franco-Nevada Corporation (FNV).

Performance

RGLD vs. FNV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royal Gold, Inc. (RGLD) and Franco-Nevada Corporation (FNV). The values are adjusted to include any dividend payments, if applicable.

RGLD vs. FNV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RGLD Royal Gold, Inc.	14.73%	70.43%	10.39%	8.70%	8.51%	0.04%	-12.13%	44.27%	5.53%	31.32%
FNV Franco-Nevada Corporation	19.38%	77.81%	7.41%	-17.96%	-0.39%	11.57%	22.31%	48.92%	-11.00%	35.45%

Fundamentals

Market Cap RGLD : $20.53B FNV : $47.63B
EPS RGLD : $8.08 FNV : $5.79
PE Ratio RGLD : 31.51 FNV : 42.64
PEG Ratio RGLD : 2.14 FNV : 0.89
PS Ratio RGLD : 17.51 FNV : 26.04
PB Ratio RGLD : 2.87 FNV : 6.25
Total Revenue (TTM) RGLD : $1.03B FNV : $1.83B
Gross Profit (TTM) RGLD : $504.63M FNV : $1.35B
EBITDA (TTM) RGLD : $742.55M FNV : $1.72B

Returns By Period

In the year-to-date period, RGLD achieves a 14.73% return, which is significantly lower than FNV's 19.38% return. Over the past 10 years, RGLD has outperformed FNV with an annualized return of 18.65%, while FNV has yielded a comparatively lower 16.26% annualized return.

RGLD

• 1D: 6.59%
• 1M: -15.11%
• YTD: 14.73%
• 6M: 27.44%
• 1Y: 57.14%
• 3Y*: 26.67%
• 5Y*: 19.30%
• 10Y*: 18.65%

FNV

• 1D: 5.76%
• 1M: -11.81%
• YTD: 19.38%
• 6M: 11.22%
• 1Y: 58.02%
• 3Y*: 20.43%
• 5Y*: 14.88%
• 10Y*: 16.26%

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

Return for Risk

RGLD vs. FNV — Risk / Return Rank

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

RGLD

RGLD Risk / Return Rank: 80
RGLD Sharpe Ratio Rank: 84
RGLD Sortino Ratio Rank: 77
RGLD Omega Ratio Rank: 78
RGLD Calmar Ratio Rank: 78
RGLD Martin Ratio Rank: 82

FNV

FNV Risk / Return Rank: 83
FNV Sharpe Ratio Rank: 86
FNV Sortino Ratio Rank: 79
FNV Omega Ratio Rank: 81
FNV Calmar Ratio Rank: 86
FNV Martin Ratio Rank: 85

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.

RGLD vs. FNV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Gold, Inc. (RGLD) and Franco-Nevada Corporation (FNV). 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.

	RGLD	FNV	Difference
Sharpe ratio Return per unit of total volatility	1.45	1.58	-0.13
Sortino ratio Return per unit of downside risk	1.88	1.97	-0.10
Omega ratio Gain probability vs. loss probability	1.26	1.29	-0.03
Calmar ratio Return relative to maximum drawdown	2.00	2.92	-0.92
Martin ratio Return relative to average drawdown	6.42	7.64	-1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RGLD vs. FNV - Sharpe Ratio Comparison

The current RGLD Sharpe Ratio is 1.45, which is comparable to the FNV Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of RGLD and FNV, 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

	RGLD	FNV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	1.58	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.50	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.54	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.48	-0.29

Correlation

The correlation between RGLD and FNV is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

RGLD vs. FNV - Dividend Comparison

RGLD's dividend yield for the trailing twelve months is around 0.72%, more than FNV's 0.64% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RGLD Royal Gold, Inc.	0.72%	0.81%	1.21%	1.24%	1.24%	1.14%	1.05%	0.87%	1.17%	1.17%	1.45%	1.81%
FNV Franco-Nevada Corporation	0.64%	0.73%	1.22%	1.23%	0.94%	1.10%	0.82%	0.96%	1.35%	1.14%	1.46%	1.81%

Drawdowns

RGLD vs. FNV - Drawdown Comparison

The maximum RGLD drawdown since its inception was -98.29%, which is greater than FNV's maximum drawdown of -58.76%. Use the drawdown chart below to compare losses from any high point for RGLD and FNV.

Drawdown Indicators

	RGLD	FNV	Difference
Max Drawdown Largest peak-to-trough decline	-98.29%	-58.76%	-39.53%
Max Drawdown (1Y) Largest decline over 1 year	-29.27%	-20.62%	-8.65%
Max Drawdown (5Y) Largest decline over 5 years	-40.73%	-37.12%	-3.61%
Max Drawdown (10Y) Largest decline over 10 years	-49.55%	-37.12%	-12.43%
Current Drawdown Current decline from peak	-16.37%	-11.88%	-4.49%
Average Drawdown Average peak-to-trough decline	-29.87%	-13.95%	-15.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.10%	7.88%	+1.22%

Volatility

RGLD vs. FNV - Volatility Comparison

Royal Gold, Inc. (RGLD) has a higher volatility of 16.92% compared to Franco-Nevada Corporation (FNV) at 13.59%. This indicates that RGLD's price experiences larger fluctuations and is considered to be riskier than FNV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RGLD	FNV	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.92%	13.59%	+3.33%
Volatility (6M) Calculated over the trailing 6-month period	32.30%	29.69%	+2.61%
Volatility (1Y) Calculated over the trailing 1-year period	39.50%	36.92%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.04%	29.81%	+1.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.83%	30.40%	+3.43%

Financials

RGLD vs. FNV - Profitability Comparison

The chart below illustrates the profitability comparison between Royal Gold, Inc. and Franco-Nevada Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

RGLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Royal Gold, Inc. reported a gross profit of 0.00 and revenue of 375.32M. Therefore, the gross margin over that period was 0.0%.

FNV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Franco-Nevada Corporation reported a gross profit of 465.85M and revenue of 604.86M. Therefore, the gross margin over that period was 77.0%.

RGLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Royal Gold, Inc. reported an operating income of 198.07M and revenue of 375.32M, resulting in an operating margin of 52.8%.

FNV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Franco-Nevada Corporation reported an operating income of 457.32M and revenue of 604.86M, resulting in an operating margin of 75.6%.

RGLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Royal Gold, Inc. reported a net income of 199.04M and revenue of 375.32M, resulting in a net margin of 53.0%.

FNV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Franco-Nevada Corporation reported a net income of 373.35M and revenue of 604.86M, resulting in a net margin of 61.7%.