RING vs. SBS
RING (iShares MSCI Global Gold Miners ETF) is Gold fund tracking the MSCI ACWI Select Gold Miners Investable Market Index, while SBS (Companhia de Saneamento Básico do Estado de São Paulo - SABESP) is a stock. Over the past 10 years, RING returned 13.85%/yr vs 16.43%/yr for SBS. At a 0.20 correlation, their price movements are largely independent.
Performance
RING vs. SBS - Performance Comparison
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Returns By Period
In the year-to-date period, RING achieves a -5.54% return, which is significantly lower than SBS's 15.28% return. Over the past 10 years, RING has underperformed SBS with an annualized return of 13.85%, while SBS has yielded a comparatively higher 16.43% annualized return.
RING
- 1D
- 3.20%
- 1M
- -16.79%
- YTD
- -5.54%
- 6M
- -4.18%
- 1Y
- 56.55%
- 3Y*
- 44.87%
- 5Y*
- 18.76%
- 10Y*
- 13.85%
SBS
- 1D
- -0.18%
- 1M
- -6.98%
- YTD
- 15.28%
- 6M
- 14.60%
- 1Y
- 38.40%
- 3Y*
- 40.12%
- 5Y*
- 32.68%
- 10Y*
- 16.43%
RING vs. SBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RING iShares MSCI Global Gold Miners ETF | -5.54% | 164.72% | 15.98% | 12.29% | -15.40% | -7.46% | 24.98% | 49.92% | -13.14% | 10.24% |
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP | 15.28% | 80.60% | -4.21% | 46.89% | 48.42% | -13.79% | -40.98% | 91.22% | -20.37% | 23.83% |
Correlation
The correlation between RING and SBS is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.20 |
The correlation between RING and SBS shifts across timeframes, from 0.20 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RING vs. SBS — Risk / Return Rank
RING
SBS
RING vs. SBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Gold Miners ETF (RING) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). 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.
| RING | SBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.21 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.55 | +0.04 |
| Martin ratioReturn relative to average drawdown | 4.45 | 4.65 | -0.20 |
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Drawdowns
RING vs. SBS - Drawdown Comparison
The maximum RING drawdown since its inception was -79.47%, roughly equal to the maximum SBS drawdown of -76.49%. Use the drawdown chart below to compare losses from any high point for RING and SBS.
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Drawdown Indicators
| RING | SBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.47% | -76.49% | -2.98% |
Max Drawdown (1Y)Largest decline over 1 year | -35.72% | -24.88% | -10.84% |
Max Drawdown (3Y)Largest decline over 3 years | -35.72% | -24.88% | -10.84% |
Max Drawdown (5Y)Largest decline over 5 years | -47.94% | -30.35% | -17.59% |
Max Drawdown (10Y)Largest decline over 10 years | -52.04% | -61.91% | +9.87% |
Current DrawdownCurrent decline from peak | -30.03% | -22.90% | -7.13% |
Average DrawdownAverage peak-to-trough decline | -47.36% | -25.70% | -21.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.74% | 8.28% | +4.46% |
Volatility
RING vs. SBS - Volatility Comparison
iShares MSCI Global Gold Miners ETF (RING) has a higher volatility of 16.83% compared to Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) at 8.92%. This indicates that RING's price experiences larger fluctuations and is considered to be riskier than SBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RING | SBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.83% | 8.92% | +7.91% |
Volatility (6M)Calculated over the trailing 6-month period | 39.11% | 24.61% | +14.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.31% | 33.86% | +13.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.81% | 36.90% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.70% | 43.51% | -6.81% |
Dividends
RING vs. SBS - Dividend Comparison
RING's dividend yield for the trailing twelve months is around 0.89%, less than SBS's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RING iShares MSCI Global Gold Miners ETF | 0.89% | 0.84% | 1.43% | 2.01% | 2.29% | 2.38% | 0.83% | 0.83% | 0.70% | 0.42% | 1.41% | 0.96% |
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP | 2.33% | 4.68% | 1.96% | 1.66% | 1.88% | 0.97% | 2.93% | 1.99% | 3.86% | 2.76% | 0.65% | 1.91% |
Frequently Asked Questions
RING and SBS have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RING has higher volatility (16.83%) compared to SBS (8.92%). In terms of maximum drawdown, RING dropped -79.47% vs SBS's -76.49%.
RING currently has the higher Sharpe Ratio (1.20 vs 1.14), 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.
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