WPM.TO vs. GOLD

Last updated Jun 4, 2026

WPM.TO (Wheaton Precious Metals Corp.) and GOLD (Barrick Mining Corporation) are both stocks. Both operate in the Gold industry within the Basic Materials sector. A 0.50 correlation means they provide meaningful diversification when combined.

Performance

WPM.TO vs. GOLD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Wheaton Precious Metals Corp. (WPM.TO) and Barrick Mining Corporation (GOLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WPM.TO is traded in CAD, while GOLD is traded in USD. To make them comparable, the GOLD values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, WPM.TO achieves a 8.12% return, which is significantly lower than GOLD's 17.67% return.

WPM.TO

• 1D: -3.52%
• 1M: 3.05%
• YTD: 8.12%
• 6M: 15.76%
• 1Y: 39.10%
• 3Y*: 43.22%
• 5Y*: 25.93%
• 10Y*: 22.38%

GOLD

• 1D: -1.57%
• 1M: -5.68%
• YTD: 17.67%
• 6M: 25.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WPM.TO vs. GOLD - Yearly Performance Comparison

	2026 (YTD)	2025
WPM.TO Wheaton Precious Metals Corp.	8.12%	7.12%
GOLD Barrick Mining Corporation	17.67%	12.34%

Correlation

The correlation between WPM.TO and GOLD is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025	0.50

Fundamentals

Market Cap WPM.TO : CA$79.13B GOLD : $1.04B
EPS WPM.TO : CA$3.96 GOLD : $3.06
PE Ratio WPM.TO : 43.97 GOLD : 12.81
PS Ratio WPM.TO : 28.82 GOLD : 0.04
PB Ratio WPM.TO : 8.55 GOLD : 1.22
Total Revenue (TTM) WPM.TO : CA$2.74B GOLD : $23.02B
Gross Profit (TTM) WPM.TO : CA$2.12B GOLD : $169.58M
EBITDA (TTM) WPM.TO : CA$2.37B GOLD : -$162.41M

Return for Risk

WPM.TO vs. GOLD — Risk / Return Rank

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

WPM.TO

WPM.TO Risk / Return Rank: 65
WPM.TO Sharpe Ratio Rank: 68
WPM.TO Sortino Ratio Rank: 61
WPM.TO Omega Ratio Rank: 62
WPM.TO Calmar Ratio Rank: 65
WPM.TO Martin Ratio Rank: 69

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.

WPM.TO vs. GOLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wheaton Precious Metals Corp. (WPM.TO) and Barrick Mining Corporation (GOLD). 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.

	WPM.TO	GOLD	Difference
Sharpe ratio: Return per unit of total volatility	0.91	—	—
Sortino ratio: Return per unit of downside risk	1.33	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.28	—	—
Martin ratio: Return relative to average drawdown	3.59	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	WPM.TO	GOLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	1.33	-0.98

Drawdowns

WPM.TO vs. GOLD - Drawdown Comparison

The maximum WPM.TO drawdown since its inception was -83.21%, which is greater than GOLD's maximum drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for WPM.TO and GOLD.

Drawdown Indicators

	WPM.TO	GOLD	Difference
Max Drawdown Largest peak-to-trough decline	-83.21%	-38.98%	-44.23%
Max Drawdown (1Y) Largest decline over 1 year	-30.69%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-39.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.50%	—	—
Current Drawdown Current decline from peak	-23.03%	-36.77%	+13.74%
Average Drawdown Average peak-to-trough decline	-24.66%	-16.74%	-7.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.92%	—	—

Volatility

Volatility by Period

	WPM.TO	GOLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.36%	56.91%	-13.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.07%	56.91%	-23.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.06%	56.91%	-21.85%

Dividends

WPM.TO vs. GOLD - Dividend Comparison

WPM.TO's dividend yield for the trailing twelve months is around 0.58%, less than GOLD's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOLD Barrick Mining Corporation	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WPM.TO Wheaton Precious Metals Corp.	0.58%	0.57%	1.05%	1.25%	1.83%	1.31%	1.08%	1.24%	1.75%	1.54%	1.06%	1.77%

Financials

WPM.TO vs. GOLD - Profitability Comparison

The chart below illustrates the profitability comparison between Wheaton Precious Metals Corp. and Barrick Mining Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WPM.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported a gross profit of 687.49M and revenue of 886.69M. Therefore, the gross margin over that period was 77.5%.

GOLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Barrick Mining Corporation reported a gross profit of 176.58M and revenue of 10.35B. Therefore, the gross margin over that period was 1.7%.

WPM.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported an operating income of 665.21M and revenue of 886.69M, resulting in an operating margin of 75.0%.

GOLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Barrick Mining Corporation reported an operating income of 106.13M and revenue of 10.35B, resulting in an operating margin of 1.0%.

WPM.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported a net income of 572.50M and revenue of 886.69M, resulting in a net margin of 64.6%.

GOLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Barrick Mining Corporation reported a net income of 59.49M and revenue of 10.35B, resulting in a net margin of 0.6%.

Frequently Asked Questions

Can I hold both WPM.TO and GOLD in my portfolio?

WPM.TO and GOLD have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.