RGLD vs. TFPM

Last updated Jun 13, 2026

RGLD (Royal Gold, Inc.) and TFPM (Triple Flag Precious Metals Corp) are both stocks. Both are in the Basic Materials sector — RGLD in Gold, TFPM in Other Precious Metals & Mining. Over the past 3 years, RGLD returned 21.73%/yr vs 28.25%/yr for TFPM. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

RGLD vs. TFPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royal Gold, Inc. (RGLD) and Triple Flag Precious Metals Corp (TFPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RGLD achieves a -6.25% return, which is significantly higher than TFPM's -11.94% return.

RGLD

• 1D: 1.47%
• 1M: -15.27%
• YTD: -6.25%
• 6M: -4.74%
• 1Y: 16.96%
• 3Y*: 21.73%
• 5Y*: 12.37%
• 10Y*: 13.61%

TFPM

• 1D: 4.14%
• 1M: -17.89%
• YTD: -11.94%
• 6M: -15.62%
• 1Y: 19.91%
• 3Y*: 28.25%
• 5Y*: —
• 10Y*: —

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

RGLD vs. TFPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RGLD Royal Gold, Inc.	-6.25%	70.43%	10.39%	8.70%	8.51%	8.95%
TFPM Triple Flag Precious Metals Corp	-11.94%	123.03%	14.60%	-1.81%	14.71%	32.61%

Correlation

The correlation between RGLD and TFPM is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.57

Over the past year, RGLD and TFPM have become more correlated (0.81) than their long-term average of 0.57, meaning their price movements have been converging.

Fundamentals

Market Cap RGLD : $17.65B TFPM : $6.04B
EPS RGLD : $8.53 TFPM : $1.51
PE Ratio RGLD : 24.34 TFPM : 19.28
PEG Ratio RGLD : 1.66 TFPM : 0.15
PS Ratio RGLD : 11.81 TFPM : 13.23
PB Ratio RGLD : 2.38 TFPM : 2.80
Total Revenue (TTM) RGLD : $1.31B TFPM : $453.24M
Gross Profit (TTM) RGLD : $579.68M TFPM : $337.23M
EBITDA (TTM) RGLD : $949.59M TFPM : $354.95M

Return for Risk

RGLD vs. TFPM — Risk / Return Rank

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

RGLD

RGLD Risk / Return Rank: 54
RGLD Sharpe Ratio Rank: 58
RGLD Sortino Ratio Rank: 52
RGLD Omega Ratio Rank: 52
RGLD Calmar Ratio Rank: 54
RGLD Martin Ratio Rank: 56

TFPM

TFPM Risk / Return Rank: 56
TFPM Sharpe Ratio Rank: 59
TFPM Sortino Ratio Rank: 53
TFPM Omega Ratio Rank: 53
TFPM Calmar Ratio Rank: 56
TFPM Martin Ratio Rank: 60

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. TFPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Gold, Inc. (RGLD) and Triple Flag Precious Metals Corp (TFPM). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	RGLD	TFPM	Difference
Sharpe ratio: Return per unit of total volatility	0.43	0.46	-0.03
Sortino ratio: Return per unit of downside risk	0.81	0.86	-0.05
Omega ratio: Gain probability vs. loss probability	1.11	1.11	-0.01
Calmar ratio: Return relative to maximum drawdown	0.48	0.57	-0.09
Martin ratio: Return relative to average drawdown	1.27	1.64	-0.36

RGLD vs. TFPM - Sharpe Ratio Comparison

The current RGLD Sharpe Ratio is 0.43, which is comparable to the TFPM Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of RGLD and TFPM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RGLD vs. TFPM - Drawdown Comparison

The maximum RGLD drawdown since its inception was -98.29%, which is greater than TFPM's maximum drawdown of -36.48%. Use the drawdown chart below to compare losses from any high point for RGLD and TFPM.

Drawdown Indicators

	RGLD	TFPM	Difference
Max Drawdown Largest peak-to-trough decline	-98.29%	-36.48%	-61.81%
Max Drawdown (1Y) Largest decline over 1 year	-35.12%	-34.87%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-35.12%	-34.87%	-0.25%
Max Drawdown (5Y) Largest decline over 5 years	-40.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.55%	—	—
Current Drawdown Current decline from peak	-31.66%	-29.27%	-2.39%
Average Drawdown Average peak-to-trough decline	-29.82%	-13.43%	-16.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.34%	12.18%	+1.16%

Volatility

RGLD vs. TFPM - Volatility Comparison

The current volatility for Royal Gold, Inc. (RGLD) is 12.33%, while Triple Flag Precious Metals Corp (TFPM) has a volatility of 15.92%. This indicates that RGLD experiences smaller price fluctuations and is considered to be less risky than TFPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RGLD	TFPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.33%	15.92%	-3.59%
Volatility (6M) Calculated over the trailing 6-month period	32.22%	34.29%	-2.07%
Volatility (1Y) Calculated over the trailing 1-year period	39.34%	43.51%	-4.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.58%	37.45%	-5.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.66%	37.45%	-3.79%

Dividends

RGLD vs. TFPM - Dividend Comparison

RGLD's dividend yield for the trailing twelve months is around 0.89%, more than TFPM's 0.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RGLD Royal Gold, Inc.	0.89%	0.81%	1.21%	1.24%	1.24%	1.14%	1.05%	0.87%	1.17%	1.17%	1.45%	1.81%
TFPM Triple Flag Precious Metals Corp	0.79%	0.68%	1.43%	1.54%	1.07%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

RGLD vs. TFPM - Profitability Comparison

The chart below illustrates the profitability comparison between Royal Gold, Inc. and Triple Flag Precious Metals Corp 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 Jun 2026, Royal Gold, Inc. reported a gross profit of 0.00 and revenue of 469.13M. Therefore, the gross margin over that period was 0.0%.

TFPM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Triple Flag Precious Metals Corp reported a gross profit of 104.35M and revenue of 144.96M. Therefore, the gross margin over that period was 72.0%.

RGLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Gold, Inc. reported an operating income of 297.09M and revenue of 469.13M, resulting in an operating margin of 63.3%.

TFPM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Triple Flag Precious Metals Corp reported an operating income of 97.00M and revenue of 144.96M, resulting in an operating margin of 66.9%.

RGLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Gold, Inc. reported a net income of 281.13M and revenue of 469.13M, resulting in a net margin of 59.9%.

TFPM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Triple Flag Precious Metals Corp reported a net income of 115.31M and revenue of 144.96M, resulting in a net margin of 79.6%.

Frequently Asked Questions

Can I hold both RGLD and TFPM in my portfolio?

RGLD and TFPM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RGLD or TFPM?

TFPM has higher volatility (15.92%) compared to RGLD (12.33%). In terms of maximum drawdown, RGLD dropped -98.29% vs TFPM's -36.48%.

Which has better risk-adjusted returns?

TFPM currently has the higher Sharpe Ratio (0.46 vs 0.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.