WPM.TO vs. ZSP.TO

Last updated Jun 5, 2026

WPM.TO (Wheaton Precious Metals Corp.) is a stock, while ZSP.TO (BMO S&P 500 Index ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, WPM.TO returned 22.65%/yr vs 16.09%/yr for ZSP.TO. At a 0.05 correlation, their price movements are largely independent.

Performance

WPM.TO vs. ZSP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Wheaton Precious Metals Corp. (WPM.TO) and BMO S&P 500 Index ETF (ZSP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WPM.TO achieves a 11.02% return, which is significantly lower than ZSP.TO's 12.66% return. Over the past 10 years, WPM.TO has outperformed ZSP.TO with an annualized return of 22.65%, while ZSP.TO has yielded a comparatively lower 16.09% annualized return.

WPM.TO

• 1D: 2.69%
• 1M: -2.49%
• YTD: 11.02%
• 6M: 19.77%
• 1Y: 43.55%
• 3Y*: 43.94%
• 5Y*: 26.60%
• 10Y*: 22.65%

ZSP.TO

• 1D: 0.46%
• 1M: 5.19%
• YTD: 12.66%
• 6M: 11.21%
• 1Y: 30.82%
• 3Y*: 23.62%
• 5Y*: 16.85%
• 10Y*: 16.09%

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

WPM.TO vs. ZSP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WPM.TO Wheaton Precious Metals Corp.	11.02%	100.92%	25.13%	25.20%	-0.53%	3.47%	39.06%	47.18%	-2.24%	8.88%
ZSP.TO BMO S&P 500 Index ETF	12.66%	12.02%	35.07%	23.30%	-12.68%	27.53%	15.61%	24.69%	3.24%	13.54%

Correlation

The correlation between WPM.TO and ZSP.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 27, 2012	0.05

The correlation between WPM.TO and ZSP.TO shifts across timeframes, from 0.05 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

WPM.TO vs. ZSP.TO — 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: 67
WPM.TO Sharpe Ratio Rank: 71
WPM.TO Sortino Ratio Rank: 63
WPM.TO Omega Ratio Rank: 65
WPM.TO Calmar Ratio Rank: 67
WPM.TO Martin Ratio Rank: 71

ZSP.TO

ZSP.TO Risk / Return Rank: 77
ZSP.TO Sharpe Ratio Rank: 82
ZSP.TO Sortino Ratio Rank: 80
ZSP.TO Omega Ratio Rank: 81
ZSP.TO Calmar Ratio Rank: 71
ZSP.TO Martin Ratio Rank: 71

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. ZSP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wheaton Precious Metals Corp. (WPM.TO) and BMO S&P 500 Index ETF (ZSP.TO). 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	ZSP.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.96	2.62	-1.65
Sortino ratio: Return per unit of downside risk	1.39	3.56	-2.17
Omega ratio: Gain probability vs. loss probability	1.19	1.48	-0.29
Calmar ratio: Return relative to maximum drawdown	1.36	3.50	-2.14
Martin ratio: Return relative to average drawdown	3.80	13.14	-9.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WPM.TO vs. ZSP.TO - Sharpe Ratio Comparison

The current WPM.TO Sharpe Ratio is 0.96, which is lower than the ZSP.TO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of WPM.TO and ZSP.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WPM.TO	ZSP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	2.62	-1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	1.13	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.99	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	1.16	-0.81

Drawdowns

WPM.TO vs. ZSP.TO - Drawdown Comparison

The maximum WPM.TO drawdown since its inception was -83.21%, which is greater than ZSP.TO's maximum drawdown of -26.94%. Use the drawdown chart below to compare losses from any high point for WPM.TO and ZSP.TO.

Drawdown Indicators

	WPM.TO	ZSP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-83.21%	-26.94%	-56.27%
Max Drawdown (1Y) Largest decline over 1 year	-30.69%	-8.61%	-22.08%
Max Drawdown (3Y) Largest decline over 3 years	-30.69%	-18.95%	-11.74%
Max Drawdown (5Y) Largest decline over 5 years	-39.04%	-22.25%	-16.79%
Max Drawdown (10Y) Largest decline over 10 years	-47.50%	-26.94%	-20.56%
Current Drawdown Current decline from peak	-20.96%	0.00%	-20.96%
Average Drawdown Average peak-to-trough decline	-24.66%	-3.34%	-21.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.00%	2.29%	+8.71%

Volatility

WPM.TO vs. ZSP.TO - Volatility Comparison

Wheaton Precious Metals Corp. (WPM.TO) has a higher volatility of 16.61% compared to BMO S&P 500 Index ETF (ZSP.TO) at 3.09%. This indicates that WPM.TO's price experiences larger fluctuations and is considered to be riskier than ZSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WPM.TO	ZSP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.61%	3.09%	+13.52%
Volatility (6M) Calculated over the trailing 6-month period	36.55%	8.66%	+27.89%
Volatility (1Y) Calculated over the trailing 1-year period	43.44%	11.52%	+31.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.08%	14.97%	+18.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.06%	16.36%	+18.70%

Dividends

WPM.TO vs. ZSP.TO - Dividend Comparison

WPM.TO's dividend yield for the trailing twelve months is around 0.56%, less than ZSP.TO's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WPM.TO Wheaton Precious Metals Corp.	0.56%	0.57%	1.05%	1.25%	1.83%	1.31%	1.08%	1.24%	1.75%	1.54%	1.06%	1.77%
ZSP.TO BMO S&P 500 Index ETF	0.74%	0.82%	0.94%	1.33%	1.44%	1.15%	1.44%	1.47%	1.63%	1.63%	2.20%	1.53%

Frequently Asked Questions

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

WPM.TO and ZSP.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.