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Relative Intelligence · Gold Mining

How Barrick Mining (B) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on B alone. It places B (Barrick Mining Corporation) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where B stands in the market, and of the alternatives worth a closer look.

Period covered: B's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against B →Chart B vs. 21 alternatives →
On this page12 sections

Key findings

How much would $10,000 in B have grown?

This chart tracks a hypothetical $10,000 investment in B over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of B over the same span and B's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 888 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of B; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000199720022007201220172022$1,000$10,000$100,00019972004201120182025
  • RGLD$370,307+3,603% total · +13.3% a year
  • AEM$246,326+2,363% total · +11.7% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • GFI$104,383+944% total · +8.4% a year
  • FCX$86,132+761% total · +7.7% a year
  • HMY$57,466+475% total · +6.2% a year
  • NEM$39,676+297% total · +4.9% a year
  • B$25,905+159% total · +3.3% a year
  • KGC$17,226+72.3% total · +1.9% a year
  • CDE$1,080−89.2% total · −7.4% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 470 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of B; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000$100,000202120222023202420252026$5,000$10,000$20,000$50,000$100,000202120222023202420252026
  • IAG$81,461+715% total · +52.1% a year
  • AU$67,300+573% total · +46.4% a year
  • EGO$50,051+401% total · +38.0% a year
  • AEM$39,659+297% total · +31.7% a year
  • WPM$37,572+276% total · +30.3% a year
  • RS$29,255+193% total · +23.9% a year
  • RGLD$26,119+161% total · +21.2% a year
  • B$25,773+158% total · +20.8% a year
  • NEM$24,375+144% total · +19.5% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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B at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$67B
Industry
Gold
Price history from
October 1986

Returns

Past 1 year
+18.8%total return
Past 3 years
+156%+36.8% a year
Past 5 years
+138%+18.9% a year
Past 10 years
+194%+11.4% a year
Best calendar year
+187%2025
Worst calendar year
−48.5%2013
Losing years
16 of 29full calendar years

Risk

Volatility
37.3%typical yearly swing, 5 years
Sharpe ratio
0.65return per unit of risk, 5 years
Worst decline ever
−88.5%Apr 2011 to Sep 2015
From its all-time high
−22.4%below the peak

B against the whole market

Where B ranks among every stock and fund, and what across the market has done better.

How does B rank among all stocks?

This section ranks B on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how B stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureBRankStanding
1-year return+18.8%1,274 of 3,287top 39%
3-year return+156%568 of 3,017top 19%
5-year return+138%495 of 2,893top 17%
10-year return+194%886 of 2,202top 40%
Volatility, 5 years37.3%1,292 of 2,893top 45%
Sharpe ratio, 5 years0.65554 of 2,893top 19%
Worst decline, past 10 years−53.9%611 of 2,187top 28%

What has beaten B on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). B sits where the dashed lines cross. Anything in the green box above and to the left earned more than B with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to B; faint dots are 89 more of the 142 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BMCK: +38.7% a year, volatility 25.0%APH: +33.8% a year, volatility 32.2%GILD: +22.8% a year, volatility 24.9%MFG: +33.6% a year, volatility 30.6%SMFG: +33.7% a year, volatility 29.4%VRTX: +22.6% a year, volatility 29.1%TRV: +22.4% a year, volatility 22.3%GWW: +26.3% a year, volatility 24.9%CBOE: +21.5% a year, volatility 25.1%RNR: +20.1% a year, volatility 27.8%EWT: +20.4% a year, volatility 24.2%MUSA: +26.1% a year, volatility 31.2%VCTR: +28.1% a year, volatility 35.0%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%MPLX: +23.5% a year, volatility 18.8%XOM: +27.1% a year, volatility 26.5%DBJP: +20.9% a year, volatility 19.2%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%SHEL: +21.0% a year, volatility 24.8%WELL: +26.0% a year, volatility 23.8%SAN: +31.7% a year, volatility 33.9%BBVA: +38.7% a year, volatility 33.3%WMT: +20.8% a year, volatility 22.6%IBKR: +35.4% a year, volatility 35.4%PSX: +33.2% a year, volatility 32.9%UBS: +25.4% a year, volatility 30.4%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%CNQ: +26.5% a year, volatility 32.5%BNY: +22.7% a year, volatility 24.4%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%ING: +24.7% a year, volatility 31.1%IMO: +34.3% a year, volatility 32.0%MFC: +22.6% a year, volatility 24.0%CAT: +31.1% a year, volatility 31.9%HLT: +21.0% a year, volatility 26.8%LYG: +20.3% a year, volatility 32.1%WAB: +25.6% a year, volatility 26.2%LNG: +23.4% a year, volatility 30.2%BAP: +30.8% a year, volatility 30.3%KB: +25.3% a year, volatility 34.4%NWG: +27.7% a year, volatility 34.1%NTAP: +20.9% a year, volatility 35.3%CIB: +32.9% a year, volatility 32.9%SHG: +21.0% a year, volatility 31.1%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%USFD: +22.7% a year, volatility 29.8%UTHR: +23.6% a year, volatility 35.1%UNM: +30.6% a year, volatility 29.3%TT: +22.7% a year, volatility 27.7%WF: +26.3% a year, volatility 31.6%COR: +24.2% a year, volatility 22.8%CLH: +23.1% a year, volatility 28.6%SNX: +20.3% a year, volatility 30.4%AIT: +28.5% a year, volatility 30.3%VNOM: +20.8% a year, volatility 35.4%EME: +43.0% a year, volatility 35.3%R: +25.1% a year, volatility 32.6%LAUR: +37.5% a year, volatility 32.8%FCFS: +20.6% a year, volatility 30.5%IRM: +24.6% a year, volatility 30.3%SDCI: +20.6% a year, volatility 18.4%CASY: +29.9% a year, volatility 29.3%IFS: +20.8% a year, volatility 31.1%PLXS: +20.3% a year, volatility 33.9%HUBB: +21.0% a year, volatility 30.0%WT: +31.4% a year, volatility 32.8%VIRT: +20.8% a year, volatility 33.8%AZZ: +21.8% a year, volatility 33.8%DTM: +24.5% a year, volatility 25.2%BLX: +31.4% a year, volatility 25.9%DCO: +27.5% a year, volatility 34.5%EZPW: +33.2% a year, volatility 35.4%DAC: +20.6% a year, volatility 32.0%NRP: +37.4% a year, volatility 33.9%ALSN: +27.3% a year, volatility 29.9%NEU: +21.0% a year, volatility 26.8%AMAL: +24.7% a year, volatility 33.4%DMLP: +21.1% a year, volatility 29.1%ACT: +20.5% a year, volatility 24.3%FSS: +23.3% a year, volatility 31.7%ACA: +23.1% a year, volatility 34.0%NBN: +28.8% a year, volatility 33.3%ESE: +24.2% a year, volatility 31.1%B: +18.9% a year, volatility 37.3%SPY (S&P 500): +12.7% a year, volatility 17.1%WPM: +27.5% a year, volatility 36.9%RGLD: +20.6% a year, volatility 32.4%GLD: +17.7% a year, volatility 18.9%AU: +40.4% a year, volatility 49.9%NEM: +18.6% a year, volatility 39.1%AEM: +29.5% a year, volatility 38.4%RS: +24.8% a year, volatility 28.1%MOG-A: +36.6% a year, volatility 32.0%ESLT: +39.8% a year, volatility 34.6%CW: +30.8% a year, volatility 28.7%RTX: +18.6% a year, volatility 24.3%SCCO: +32.0% a year, volatility 40.7%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%PM: +21.0% a year, volatility 23.4%AMGN: +19.6% a year, volatility 24.9%PWR: +39.3% a year, volatility 37.2%GLTR: +14.9% a year, volatility 24.6%MPC: +51.2% a year, volatility 33.4%BSPY (S&P 500)WPMRGLDGLDAUNEMAEMRSMOG-AESLTCWRTXSCCOCAHLLYABBVDXJPMPWRGLTRMPC10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BMCK: +38.7% a year, volatility 25.0%APH: +33.8% a year, volatility 32.2%GILD: +22.8% a year, volatility 24.9%MFG: +33.6% a year, volatility 30.6%SMFG: +33.7% a year, volatility 29.4%VRTX: +22.6% a year, volatility 29.1%TRV: +22.4% a year, volatility 22.3%GWW: +26.3% a year, volatility 24.9%CBOE: +21.5% a year, volatility 25.1%RNR: +20.1% a year, volatility 27.8%EWT: +20.4% a year, volatility 24.2%MUSA: +26.1% a year, volatility 31.2%VCTR: +28.1% a year, volatility 35.0%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%MPLX: +23.5% a year, volatility 18.8%XOM: +27.1% a year, volatility 26.5%DBJP: +20.9% a year, volatility 19.2%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%SHEL: +21.0% a year, volatility 24.8%WELL: +26.0% a year, volatility 23.8%SAN: +31.7% a year, volatility 33.9%BBVA: +38.7% a year, volatility 33.3%WMT: +20.8% a year, volatility 22.6%IBKR: +35.4% a year, volatility 35.4%PSX: +33.2% a year, volatility 32.9%UBS: +25.4% a year, volatility 30.4%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%CNQ: +26.5% a year, volatility 32.5%BNY: +22.7% a year, volatility 24.4%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%ING: +24.7% a year, volatility 31.1%IMO: +34.3% a year, volatility 32.0%MFC: +22.6% a year, volatility 24.0%CAT: +31.1% a year, volatility 31.9%HLT: +21.0% a year, volatility 26.8%LYG: +20.3% a year, volatility 32.1%WAB: +25.6% a year, volatility 26.2%LNG: +23.4% a year, volatility 30.2%BAP: +30.8% a year, volatility 30.3%KB: +25.3% a year, volatility 34.4%NWG: +27.7% a year, volatility 34.1%NTAP: +20.9% a year, volatility 35.3%CIB: +32.9% a year, volatility 32.9%SHG: +21.0% a year, volatility 31.1%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%USFD: +22.7% a year, volatility 29.8%UTHR: +23.6% a year, volatility 35.1%UNM: +30.6% a year, volatility 29.3%TT: +22.7% a year, volatility 27.7%WF: +26.3% a year, volatility 31.6%COR: +24.2% a year, volatility 22.8%CLH: +23.1% a year, volatility 28.6%SNX: +20.3% a year, volatility 30.4%AIT: +28.5% a year, volatility 30.3%VNOM: +20.8% a year, volatility 35.4%EME: +43.0% a year, volatility 35.3%R: +25.1% a year, volatility 32.6%LAUR: +37.5% a year, volatility 32.8%FCFS: +20.6% a year, volatility 30.5%IRM: +24.6% a year, volatility 30.3%SDCI: +20.6% a year, volatility 18.4%CASY: +29.9% a year, volatility 29.3%IFS: +20.8% a year, volatility 31.1%PLXS: +20.3% a year, volatility 33.9%HUBB: +21.0% a year, volatility 30.0%WT: +31.4% a year, volatility 32.8%VIRT: +20.8% a year, volatility 33.8%AZZ: +21.8% a year, volatility 33.8%DTM: +24.5% a year, volatility 25.2%BLX: +31.4% a year, volatility 25.9%DCO: +27.5% a year, volatility 34.5%EZPW: +33.2% a year, volatility 35.4%DAC: +20.6% a year, volatility 32.0%NRP: +37.4% a year, volatility 33.9%ALSN: +27.3% a year, volatility 29.9%NEU: +21.0% a year, volatility 26.8%AMAL: +24.7% a year, volatility 33.4%DMLP: +21.1% a year, volatility 29.1%ACT: +20.5% a year, volatility 24.3%FSS: +23.3% a year, volatility 31.7%ACA: +23.1% a year, volatility 34.0%NBN: +28.8% a year, volatility 33.3%ESE: +24.2% a year, volatility 31.1%B: +18.9% a year, volatility 37.3%SPY (S&P 500): +12.7% a year, volatility 17.1%WPM: +27.5% a year, volatility 36.9%RGLD: +20.6% a year, volatility 32.4%GLD: +17.7% a year, volatility 18.9%AU: +40.4% a year, volatility 49.9%NEM: +18.6% a year, volatility 39.1%AEM: +29.5% a year, volatility 38.4%RS: +24.8% a year, volatility 28.1%MOG-A: +36.6% a year, volatility 32.0%ESLT: +39.8% a year, volatility 34.6%CW: +30.8% a year, volatility 28.7%RTX: +18.6% a year, volatility 24.3%SCCO: +32.0% a year, volatility 40.7%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%PM: +21.0% a year, volatility 23.4%AMGN: +19.6% a year, volatility 24.9%PWR: +39.3% a year, volatility 37.2%GLTR: +14.9% a year, volatility 24.6%MPC: +51.2% a year, volatility 33.4%BSPY (S&P 500)WPMRGLDGLDAUNEMAEMRSMOG-AESLTCWRTXSCCOCAHABBVPMMPC
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than B?

Investments that beat B over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat B over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks B's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than B follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than B's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× B's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than B's.

Screen the whole market against B for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with B?lower diversifies moreExpenseper year
BBarrick Mining Corporation · this page
+18.9%37.3%0.65−53.9%+194%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.210.09%
Popular alternativesbest 6 shownThe investments people most often weigh against B. 9 of 21 passed at least one test.
WPMWheaton Precious Metals Corp. · Metals & Mining
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+27.5%36.9%0.85−46.7%+510%0.82—
RGLDRoyal Gold, Inc. · Gold Mining
Higher return, lower volatilityHigher return in most periods+20.6%32.4%0.74−49.5%+282%0.78—
GLDSPDR Gold Shares · Gold
Higher Sharpe, smaller worst declineSmaller losses in recent crashes+17.7%18.9%0.96−26.4%+213%0.760.40%
AUAngloGold Ashanti Plc · Gold Mining
Higher return in most periods+40.4%49.9%0.93−66.3%+681%0.80—
NEMNewmont Corporation · Gold Mining
Higher return in most periods+18.6%39.1%0.63−62.4%+304%0.84—
AEMAgnico Eagle Mines Limited · Gold Mining
Higher return, similar volatility+29.5%38.4%0.87−54.2%+352%0.78—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Gold Mining and Metals & Mining and the categories next to it (Gold, Silver, Aerospace & Defense), plus B's specific themes. 22 of 73 passed at least one test.
RSReliance Steel & Aluminum Co. · Metals & Mining
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+24.8%28.1%0.93−40.8%+626%0.10—
MOG-AMoog Inc. · Aerospace & Defense
Higher return, lower volatilityHigher return in most periods+36.6%32.0%1.14−63.7%+595%0.19—
ESLTElbit Systems Ltd. · Aerospace & Defense
Higher return, lower volatilityHigher Sharpe, smaller worst decline+39.8%34.6%1.15−35.4%+765%0.08—
CWCurtiss-Wright Corporation · Aerospace & Defense
Higher return, lower volatilityHigher Sharpe, smaller worst decline+30.8%28.7%1.08−48.7%+512%0.03—
RTXRTX Corporation · Aerospace & Defense
Similar return, lower volatilityHigher return in most periods+18.6%24.3%0.83−52.0%+317%0.29—
SCCOSouthern Copper Corporation · Metals & Mining
Higher return, similar volatilityHigher return in most periods+32.0%40.7%0.89−55.3%+1,017%0.57—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 348 of 3,539 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.09—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+40.7%32.8%1.21−34.5%+1,807%0.16—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.1%23.4%1.11−45.1%+603%0.28—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.130.48%
PMPhilip Morris International Inc. · Tobacco
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.0%23.4%0.94−42.9%+242%0.29—
AMGNAmgen Inc. · Biotechnology
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.6%24.9%0.85−24.9%+266%0.29—
PWRQuanta Services, Inc. · Engineering & Construction
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+39.3%37.2%1.08−45.5%+2,045%-0.01—
GLTRabrdn Physical Precious Metals Basket Shares ETF · Alternatives
Smaller losses in recent crashes+14.9%24.6%0.69−37.9%+191%0.770.60%
What these numbers mean for B
Annual return
B returned 18.9% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $23,800. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
B's volatility over the past 5 years was 37.3%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, B's return lands within 37.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
B's Sharpe ratio over the past 5 years was 0.65, against 0.79 for the S&P 500, so B earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
B's worst fall from a peak to a low over the past 10 years was 53.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 53.9% fall takes a 117% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, B's monthly returns had a correlation of 0.21 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against B instead: the lower it is, the more that option would diversify a B holding. Guide: Correlation and diversification →
Show all 142 stocks and funds worth at least $500 million that earned more than B with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with BExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.09—
2
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.16—
3
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.28—
4
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.130.48%
5
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.29—
6
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.14—
7
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.04—
8
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.21—
9
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.16—
10
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.15—
11
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%0.18—
12
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.17—
13
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%-0.12—
14
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.24—
15
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.1%27.8%0.80−40.7%+215%0.07—
16
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.12—
17
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.250.59%
18
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%-0.29—
19
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+28.1%35.0%0.89−45.2%—-0.03—
20
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.26—
21
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.250.19%
22
QTUMDefiance Quantum ETF · Technology
Whole market+22.8%28.1%0.87−38.5%—0.090.40%
23
RSReliance Steel & Aluminum Co. · Metals & Mining
Same or nearby category+24.8%28.1%0.93−40.8%+626%0.10—
24
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.12—
25
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.08—
26
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.110.45%
27
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.20—
28
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.13—
29
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%0.08—
30
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.33—
31
SANBanco Santander, S.A. · Banks
Whole market+31.7%33.9%0.99−73.8%+332%0.34—
32
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+38.7%33.3%1.16−69.6%+542%0.23—
33
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.07—
34
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.4%35.4%1.04−55.1%+935%-0.07—
35
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.08—
36
UBSUBS Group AG · Banks
Whole market+25.4%30.4%0.90−59.8%+374%0.24—
37
SUSuncor Energy Inc. · Integrated Oil & Gas
Whole market+33.1%32.5%1.05−73.5%+295%0.11—
38
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.23—
39
CNQCanadian Natural Resources Limited · Oil & Gas
Whole market+26.5%32.5%0.89−77.5%+433%0.23—
40
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.12—
41
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.08—
42
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.20—
43
INGING Groep N.V. · Banks
Whole market+24.7%31.1%0.87−74.4%+339%0.23—
44
IMOImperial Oil Limited · Integrated Oil & Gas
Whole market+34.3%32.0%1.09−77.1%+430%0.25—
45
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.11—
46
CATCaterpillar Inc. · Industrial Machinery
Whole market+31.1%31.9%1.01−43.4%+936%0.03—
47
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.12—
48
LYGLloyds Banking Group plc · Banks
Whole market+20.3%32.1%0.74−66.5%+213%0.27—
49
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.13—
50
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+616%0.01—
51
BAPCredicorp Ltd. · Banks
Whole market+30.8%30.3%1.04−59.2%+298%0.12—
52
KBKB Financial Group Inc. · Banks
Whole market+25.3%34.4%0.83−64.1%+390%0.29—
53
NWGNatWest Group plc · Banks
Whole market+27.7%34.1%0.89−67.4%+495%0.13—
54
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.09—
55
CIBGrupo Cibest S.A. · Banks
Whole market+32.9%32.9%1.03−70.4%+345%0.27—
56
SHGShinhan Financial Group Co., Ltd. · Banks
Whole market+21.0%31.1%0.77−64.1%+175%0.37—
57
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.11—
58
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.08—
59
USFDUS Foods Holding Corp. · Food Distribution
Whole market+22.7%29.8%0.84−77.3%+347%0.10—
60
UTHRUnited Therapeutics Corporation · Biotechnology
Whole market+23.6%35.1%0.78−55.6%+390%0.10—
61
UNMUnum Group · Life Insurance
Whole market+30.6%29.3%1.06−81.0%+256%-0.05—
62
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%-0.07—
63
WFWoori Financial Group Inc. · Banks
Whole market+26.3%31.6%0.90−67.2%+282%0.31—
64
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.29—
65
CLHClean Harbors, Inc. · Environmental Services
Whole market+23.1%28.6%0.88−64.5%+588%0.12—
66
SNXTD Synnex Corp · Technology Distribution
Whole market+20.3%30.4%0.76−55.8%+430%0.05—
67
AITApplied Industrial Technologies, Inc. · Industrial Distribution
Whole market+28.5%30.3%0.98−59.3%+742%-0.05—
68
VNOMViper Energy, Inc. · Oil & Gas
Whole market+20.8%35.4%0.71−87.0%+413%0.18—
69
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+43.0%35.3%1.20−48.0%+1,202%-0.21—
70
RRyder System, Inc. · Freight & Logistics
Whole market+25.1%32.6%0.85−72.3%+407%0.12—
71
LAURLaureate Education, Inc. · Education Services
Whole market+37.5%32.8%1.14−64.5%—0.09—
72
FCFSFirstCash Holdings, Inc · Consumer Finance
Whole market+20.6%30.5%0.77−50.2%+422%0.18—
73
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.11—
74
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.120.80%
75
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%0.08—
76
MOG-AMoog Inc. · Aerospace & Defense
Same or nearby category+36.6%32.0%1.14−63.7%+595%0.19—
77
IFSIntercorp Financial Services Inc. · Regional Banks
Whole market+20.8%31.1%0.77−56.9%—-0.01—
78
PLXSPlexus Corp. · Electronics Manufacturing
Whole market+20.3%33.9%0.72−53.7%+420%0.01—
79
HUBBHubbell Incorporated · Electrical Equipment
Whole market+21.0%30.0%0.79−41.6%+442%-0.21—
80
WTWisdomTree, Inc. · Asset Management
Whole market+31.4%32.8%1.00−84.0%+174%0.19—
81
VIRTVirtu Financial, Inc. · Capital Markets
Whole market+20.8%33.8%0.73−56.2%+545%0.19—
82
AZZAZZ Inc. · Industrial - Specialties
Whole market+21.8%33.8%0.76−68.0%+184%0.07—
83
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+24.5%25.2%1.00−23.6%—0.15—
84
BLXBladex, Inc. · Banks - Regional
Whole market+31.4%25.9%1.19−68.5%+290%0.03—
85
DCODucommun Incorporated · Aerospace & Defense
Whole market+27.5%34.5%0.88−70.8%+706%0.21—
86
RGLDRoyal Gold, Inc. · Gold Mining
Popular alternative+20.6%32.4%0.74−49.5%+282%0.78—
87
EZPWEZCORP, Inc. · Financial - Credit Services
Whole market+33.2%35.4%0.99−76.6%+202%0.16—
88
DACDanaos Corporation · Marine Shipping
Whole market+20.6%32.0%0.75−94.6%+449%0.18—
89
NRPNatural Resource Partners L.P. · Coal
Whole market+37.4%33.9%1.11−78.8%+632%0.05—
90
ALSNAllison Transmission Holdings, Inc. · Auto Parts
Whole market+27.3%29.9%0.96−48.7%+367%0.04—
91
ESLTElbit Systems Ltd. · Aerospace & Defense
Same or nearby category+39.8%34.6%1.15−35.4%+765%0.08—
92
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.25—
93
AMALAmalgamated Financial Corp. · Banks - Regional
Whole market+24.7%33.4%0.83−62.9%—0.00—
94
DMLPDorchester Minerals, L.P. · Oil & Gas Exploration & Production
Whole market+21.1%29.1%0.81−56.8%+435%-0.04—
95
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—0.24—
96
FSSFederal Signal Corporation · Industrial Machinery
Whole market+23.3%31.7%0.82−33.0%+882%-0.13—
97
ACAArcosa, Inc. · Construction Materials
Whole market+23.1%34.0%0.78−36.8%—0.09—
98
NBNNortheast Bank · Banks - Regional
Whole market+28.8%33.3%0.93−70.2%+1,064%0.01—
99
ESEESCO Technologies Inc. · Electronic Instruments
Whole market+24.2%31.1%0.85−46.0%+473%0.00—
100
CWCurtiss-Wright Corporation · Aerospace & Defense
Same or nearby category+30.8%28.7%1.08−48.7%+512%0.03—

B against its popular alternatives

The investments people most often weigh against B, compared period by period and year by year.

How do B's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at B, which divides the map into what did better or worse on each measure.

Green points earned more than B with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityB: 18.9% a year, volatility 37.3%SPY (S&P 500): 12.7% a year, volatility 17.1%WPM: 27.5% a year, volatility 36.9%NEM: 18.6% a year, volatility 39.1%RGLD: 20.6% a year, volatility 32.4%FCX: 13.7% a year, volatility 44.9%FSM: 16.7% a year, volatility 57.6%CDE: 18.3% a year, volatility 69.4%SSRM: 15.2% a year, volatility 57.5%BTG: 8.3% a year, volatility 46.3%NG: −3.3% a year, volatility 61.9%EQX: 7.3% a year, volatility 58.2%SA: 7.5% a year, volatility 53.5%IAG: 43.9% a year, volatility 60.9%AU: 40.4% a year, volatility 49.9%EGO: 30.0% a year, volatility 47.7%HMY: 36.0% a year, volatility 59.3%AEM: 29.5% a year, volatility 38.4%GFI: 35.5% a year, volatility 53.4%KGC: 32.7% a year, volatility 45.6%AGI: 32.6% a year, volatility 42.4%FNV: 12.5% a year, volatility 31.3%GLD: 17.7% a year, volatility 18.9%BSPY (S&P 500)WPMNEMRGLDFCXFSMCDESSRMBTGNGEQXSAIAGAUEGOHMYAEMGFIKGCAGIFNVGLD0.0%20.0%40.0%60.0%80.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityB: 18.9% a year, volatility 37.3%SPY (S&P 500): 12.7% a year, volatility 17.1%WPM: 27.5% a year, volatility 36.9%NEM: 18.6% a year, volatility 39.1%RGLD: 20.6% a year, volatility 32.4%FCX: 13.7% a year, volatility 44.9%FSM: 16.7% a year, volatility 57.6%CDE: 18.3% a year, volatility 69.4%SSRM: 15.2% a year, volatility 57.5%BTG: 8.3% a year, volatility 46.3%NG: −3.3% a year, volatility 61.9%EQX: 7.3% a year, volatility 58.2%SA: 7.5% a year, volatility 53.5%IAG: 43.9% a year, volatility 60.9%AU: 40.4% a year, volatility 49.9%EGO: 30.0% a year, volatility 47.7%HMY: 36.0% a year, volatility 59.3%AEM: 29.5% a year, volatility 38.4%GFI: 35.5% a year, volatility 53.4%KGC: 32.7% a year, volatility 45.6%AGI: 32.6% a year, volatility 42.4%FNV: 12.5% a year, volatility 31.3%GLD: 17.7% a year, volatility 18.9%BSPY (S&P 500)WPMNEMRGLDFCXFSMCDEBTGNGEQXSAIAGAUEGOHMYAEMGFIKGCAGIGLD
All figures
InvestmentAnnual returnVolatility
IAG Iamgold Corporation+43.9%60.9%
AU AngloGold Ashanti Plc+40.4%49.9%
HMY Harmony Gold Mining Company Limited+36.0%59.3%
GFI Gold Fields Limited+35.5%53.4%
KGC Kinross Gold Corporation+32.7%45.6%
AGI Alamos Gold Inc.+32.6%42.4%
EGO Eldorado Gold Corporation+30.0%47.7%
AEM Agnico Eagle Mines Limited+29.5%38.4%
WPM Wheaton Precious Metals Corp.+27.5%36.9%
RGLD Royal Gold, Inc.+20.6%32.4%
B This pageBarrick Mining Corporation+18.9%37.3%
NEM Newmont Corporation+18.6%39.1%
CDE Coeur Mining, Inc.+18.3%69.4%
GLD SPDR Gold Shares+17.7%18.9%
FSM Fortuna Mining Corp.+16.7%57.6%
SSRM SSR Mining Inc.+15.2%57.5%
FCX Freeport-McMoRan Inc.+13.7%44.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
FNV Franco-Nevada Corporation+12.5%31.3%
BTG B2Gold Corp.+8.3%46.3%
SA Seabridge Gold Inc.+7.5%53.5%
EQX Equinox Gold Corp.+7.3%58.2%
NG NovaGold Resources Inc.−3.3%61.9%
Open these 23 in EasyCompare

Has B consistently beaten its popular alternatives?

This section compares B with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than B helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than B over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
B Barrick Mining Corporation (this page)—−5.3%+16.3%−5.1%−6.8%+18.8%+156%+138%+194%37.3%0.65−53.9%—$67B—
IAG QualifiedIamgold Corporation4/5 short3/3 longAll-weather−11.8%+27.2%−4.1%+9.5%+29.9%+637%+517%+343%60.9%0.90−86.4%—$10B—
AU QualifiedAngloGold Ashanti Plc3/5 short3/3 long−10.9%+22.1%−13.1%+9.9%+26.2%+416%+445%+681%49.9%0.93−66.3%—$46B—
WPM QualifiedWheaton Precious Metals Corp.3/5 short3/3 long−11.1%+27.0%−11.8%+11.8%+25.2%+212%+236%+510%36.9%0.85−46.7%—$60B—
NEM QualifiedNewmont Corporation4/5 short2/3 long−5.1%+31.2%+2.2%+16.1%+24.3%+219%+135%+304%39.1%0.63−62.4%—$123B—
RGLD QualifiedRoyal Gold, Inc.4/5 short2/3 long−4.3%+27.7%−9.4%+8.7%+24.0%+124%+155%+282%32.4%0.74−49.5%—$20B—
EGO QualifiedEldorado Gold Corporation4/5 short2/3 long−17.0%+27.0%+5.2%−0.1%+23.1%+247%+271%+89.1%47.7%0.79−86.2%—$9.2B—
HMY GoldHarmony Gold Mining Company Limited2/5 short3/3 long−9.6%+19.9%−4.4%−10.4%−13.2%+265%+366%+504%59.3%0.82−71.1%—$11B—
AEM GoldAgnico Eagle Mines Limited2/5 short3/3 long−5.7%+36.9%−13.5%+10.0%+5.3%+293%+264%+352%38.4%0.87−54.2%—$94B—
GFI GoldGold Fields Limited1/5 short3/3 long−13.7%+18.6%−24.0%−12.6%−13.0%+187%+356%+1,008%53.4%0.84−56.2%—$32B—
KGC GoldKinross Gold Corporation0/5 short3/3 long−14.9%+5.1%−31.7%−16.1%−8.3%+356%+311%+572%45.6%0.85−67.9%—$28B—
AGI GoldAlamos Gold Inc.0/5 short2/3 long−9.6%+13.1%−34.8%−16.9%−9.3%+154%+310%+294%42.4%0.88−66.1%—$13B—
FCX CopperFreeport-McMoRan Inc.5/5 short1/3 long−4.3%+17.4%−1.4%+33.9%+64.8%+111%+89.6%+650%44.9%0.51−72.6%—$99B—
FSM GoldFortuna Mining Corp.3/5 short1/3 long−11.7%+29.4%−2.4%+8.9%+16.7%+242%+116%+53.5%57.6%0.56−78.1%—$3.1B—
FNV GoldFranco-Nevada Corporation2/5 short1/3 long−7.9%+20.7%−6.2%+16.2%+18.4%+78.8%+79.9%+303%31.3%0.53−37.1%—$47B—
GLD CommoditiesSPDR Gold Shares1/5 short1/3 long−5.2%+2.7%−14.6%−5.2%−6.3%+106%+126%+213%18.9%0.96−26.4%0.40%$143B—
CDE GoldCoeur Mining, Inc.0/5 short1/3 long−22.5%+6.9%−23.4%−13.7%−31.3%+480%+131%+33.9%69.4%0.59−83.3%—$16B—
SSRM GoldSSR Mining Inc.4/5 short0/3 long−14.6%+24.9%−1.9%+45.4%+28.2%+123%+103%+191%57.5%0.56−83.1%—$6.4B—
BTG GoldB2Gold Corp.4/5 short0/3 long−3.0%+42.9%+6.1%+16.9%−7.3%+72.8%+49.0%+139%46.3%0.40−63.2%—$6.9B—
NG GoldNovaGold Resources Inc.1/5 short0/3 long−12.1%+23.9%−39.8%−29.7%−36.0%+69.4%−15.3%+41.3%61.9%0.25−81.2%—$2.8B—
EQX GoldEquinox Gold Corp.1/5 short0/3 long−9.0%+27.6%−27.9%−18.9%−9.0%+144%+42.2%—58.2%0.41−81.0%—$13B—
SA GoldSeabridge Gold Inc.0/5 short0/3 long−16.5%+4.2%−21.8%−13.4%−2.9%+123%+43.5%+127%53.5%0.40−61.1%—$2.8B—
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How did B do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where B ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with B and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of B; gray means the two finished within a fraction of a point. The rank row places B among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of B20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
B This pageBarrick Mining Corporation—+187%−12.3%+7.9%−6.2%−13.4%+24.2%+40.1%−5.6%−8.6%+118%−30.6%−38.2%−48.5%−21.1%−14.0%+36.7%+8.9%−10.8%+38.2%+11.0%+16.0%+7.8%+49.0%−1.5%−1.5%−6.3%−8.4%+5.8%−34.8%
Rank among alternativesTop quarter in 4 of 297 of 2220 of 2212 of 2210 of 2212 of 2215 of 2215 of 228 of 2117 of 216 of 219 of 2119 of 2111 of 2116 of 2112 of 2110 of 2117 of 219 of 205 of 1813 of 1816 of 175 of 155 of 1111 of 1110 of 112 of 119 of 112 of 104 of 11
SPY S&P 500State Street SPDR S&P 500 ETF16 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
IAG Iamgold Corporation9 of 22+220%+104%−1.9%−17.6%−14.7%−1.6%+1.4%−36.9%+51.4%+171%−47.4%−18.9%−70.1%−26.0%−9.8%+14.3%+157%−23.8%−7.3%+13.4%+18.6%−3.4%———————
AU AngloGold Ashanti Plc15 of 28+288%+25.5%−2.7%−5.1%−4.9%+1.9%+78.8%+24.1%−2.2%+48.1%−18.4%−25.8%−62.4%−24.9%−13.1%+23.1%+45.6%−32.0%−8.0%−3.7%+38.0%−20.6%+41.9%+99.8%+28.1%−38.2%+39.8%—−37.9%
WPM Wheaton Precious Metals Corp.13 of 20+111%+15.2%+27.9%−7.6%+4.2%+41.8%+54.7%−10.0%+16.1%+57.1%−38.2%+1.9%−43.0%+25.9%−25.4%+160%+131%−61.8%+61.9%+80.8%—————————
NEM Newmont Corporation14 of 29+173%−7.8%−8.8%−20.8%+7.4%+40.3%+30.5%−6.2%+10.9%+90.1%−4.4%−17.2%−48.5%−20.4%−0.6%+31.0%+17.3%−15.9%+9.1%−14.8%+21.4%−8.1%+68.2%+52.6%+12.7%−29.9%+35.0%−37.7%−34.1%
RGLD Royal Gold, Inc.16 of 29+70.4%+10.4%+8.7%+8.5%0.0%−12.1%+44.3%+5.5%+31.3%+76.7%−41.1%+37.8%−42.3%+21.6%+24.4%+16.7%−3.6%+62.9%−14.4%+4.3%+92.3%−12.2%−15.7%+384%+82.3%−19.1%0.0%−23.6%−64.5%
EGO Eldorado Gold Corporation9 of 22+142%+14.6%+55.2%−10.7%−29.5%+65.2%+179%−59.8%−55.4%+8.4%−51.0%+7.1%−55.3%−5.0%−25.7%+31.4%+78.3%+37.0%+7.4%+10.2%+66.0%−8.1%———————
HMY Harmony Gold Mining Company Limited16 of 29+145%+35.3%+82.8%−16.5%−10.3%+29.0%+102%−4.2%−12.6%+140%−50.9%−25.0%−71.5%−22.1%−6.6%+24.0%−6.8%+6.5%−34.6%+20.7%+40.8%−42.5%−1.1%+168%+43.3%−23.5%+36.1%+111%−71.4%
AEM Agnico Eagle Mines Limited16 of 29+120%+46.0%+9.0%+1.1%−22.8%+16.2%+54.2%−11.5%+10.5%+61.2%+6.8%−4.7%−48.3%+47.1%−52.1%+42.5%+5.6%−5.8%+32.9%+109%+43.9%+14.2%−18.6%+50.8%+65.0%−19.2%+82.3%−23.1%−61.3%
GFI Gold Fields Limited17 of 29+240%−6.2%+44.8%−2.7%+23.4%+42.9%+89.8%−16.9%+46.3%+9.7%−38.6%+42.8%−70.0%−15.2%−14.6%+40.1%+33.4%−28.3%−23.7%+8.4%+42.9%−9.8%+2.3%+198%+44.8%−22.5%+16.2%−39.2%−32.5%
KGC Kinross Gold Corporation14 of 29+206%+55.5%+51.8%−27.6%−19.3%+55.9%+46.4%−25.0%+39.1%+71.2%−35.6%−35.6%−54.6%−13.3%−39.5%+3.6%+0.4%+0.5%+54.9%+28.9%+31.0%−12.0%+8.7%+223%+51.2%−73.3%−18.8%−32.7%−51.7%
AGI Alamos Gold Inc.16 of 22+110%+37.8%+34.3%+32.9%−11.0%+46.6%+68.4%−44.5%−4.7%+109%−53.6%−39.9%−30.0%+4.5%−10.2%+60.1%+75.7%+23.4%−33.7%+50.7%+84.4%+44.8%———————
FCX Freeport-McMoRan Inc.17 of 29+35.4%−9.4%+13.7%−7.3%+61.4%+99.1%+29.6%−45.1%+43.8%+94.9%−70.2%−35.8%+19.9%−4.0%−36.9%+52.7%+228%−75.5%+86.9%+11.6%+49.1%−6.6%+154%+25.5%+56.5%−59.5%+102%−32.9%−45.6%
FSM Fortuna Mining Corp.10 of 18+129%+11.1%+2.9%−3.9%−52.7%+102%+12.1%−30.3%−7.6%+151%−50.5%+58.5%−31.2%−24.0%+14.6%+141%+249%−81.8%———————————
FNV Franco-Nevada Corporation12 of 18+77.8%+7.4%−17.9%−0.4%+11.3%+22.3%+48.9%−11.0%+35.5%+32.4%−5.3%+22.6%−27.6%+51.8%+15.3%+24.9%+56.8%+15.5%———————————
GLD SPDR Gold Shares15 of 21+63.7%+26.7%+12.7%−0.8%−4.2%+24.8%+17.9%−1.9%+12.8%+8.0%−10.7%−2.2%−28.3%+6.6%+9.6%+29.3%+24.0%+4.9%+30.4%+22.6%+17.8%————————
CDE Coeur Mining, Inc.12 of 29+212%+75.1%−3.0%−33.2%−51.3%+28.1%+80.9%−40.5%−17.5%+266%−51.4%−52.9%−55.9%+1.9%−11.7%+51.3%+105%−82.2%−0.2%+23.7%+1.8%−32.0%+201%+140%−14.6%−72.7%−25.7%−48.3%−40.4%
SSRM SSR Mining Inc.18 of 29+215%−35.4%−29.9%−10.0%−10.9%+4.4%+59.3%+37.6%−1.5%+72.2%+3.4%−28.0%−53.3%+7.8%−51.0%+29.0%+37.3%−56.4%+18.8%+100%+26.9%+8.3%+109%+102%+98.4%+1.6%+68.2%−84.4%+17.8%
BTG B2Gold Corp.10 of 17+89.0%−18.1%−7.4%−5.2%−27.0%+42.5%+37.6%−5.8%+30.6%+133%−37.1%−19.6%−43.6%+16.2%+13.7%+131%+225%————————————
NG NovaGold Resources Inc.11 of 22+180%−11.0%−37.5%−12.8%−29.1%+7.9%+127%+0.5%−13.8%+8.3%+42.7%+16.1%−43.7%−46.8%−40.6%+133%+317%−82.0%−52.4%+88.6%+17.4%+55.6%———————
EQX Equinox Gold Corp.4 of 7+180%+2.7%+48.9%−51.4%−34.6%+34.2%+107%——————————————————————
SA Seabridge Gold Inc.11 of 21+159%−5.9%−3.6%−23.7%−21.7%+52.5%+4.5%+17.1%+38.6%−1.7%+9.8%+3.4%−59.4%+11.5%−47.5%+26.4%+85.5%−55.6%+109%+50.2%+159%————————
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Risk and diversification

How B has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were B's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents B's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means B fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringB fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2011 euro debt crisis−88.5%+58.7%Apr 2011Sep 20154.4 yearsDec 202510.3 years
2008 financial crisis−65.8%−36.1%Mar 2008Oct 20087 monthsNov 20102.1 years
Dot-com bust−58.7%+132%Feb 1996Oct 20004.7 yearsSep 20054.9 years
No named crash−52.1%—Sep 1987Nov 19872 monthsNov 19892 years
No named crash−35.0%+2.0%Jan 1994Jan 199512 monthsFeb 199613 months

How did B do in stock market crashes?

This section measures how far B, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than B.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
B This pageBarrick Mining Corporation—−0.3%−43.6%−28.6%−8.7%−4.9%−27.8%−16.9%−1.9%−65.8%−40.3%
SPY S&P 500State Street SPDR S&P 500 ETF3 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
IAG Iamgold Corporation1 of 9−1.4%−73.6%−48.4%−28.6%−6.1%−45.5%−19.2%−0.5%−74.8%—
AU AngloGold Ashanti Plc2 of 10−0.3%−51.7%−37.1%−10.7%−9.4%−36.9%−15.3%0.0%−71.5%−50.6%
WPM Wheaton Precious Metals Corp.1 of 90.0%−43.3%−28.7%−14.8%−10.0%−29.0%−28.8%0.0%−86.8%—
NEM Newmont Corporation4 of 10−1.0%−51.8%−24.5%−9.5%−6.0%−20.2%−12.0%−2.3%−61.5%−53.0%
RGLD Royal Gold, Inc.3 of 100.0%−40.7%−36.8%−9.8%−7.5%−54.7%−22.8%−2.4%−41.7%−39.3%
EGO Eldorado Gold Corporation1 of 9−1.2%−57.7%−52.8%−40.5%−7.3%−49.9%−24.4%0.0%−69.3%—
HMY Harmony Gold Mining Company Limited2 of 100.0%−62.6%−54.3%−29.1%−1.9%−54.3%−22.1%−2.0%−61.3%−48.2%
AEM Agnico Eagle Mines Limited3 of 100.0%−42.0%−31.6%−11.6%−6.4%−20.2%−18.9%−0.4%−72.9%−42.4%
GFI Gold Fields Limited1 of 100.0%−56.2%−46.8%−11.4%−9.8%−41.3%−14.3%−4.3%−73.7%−46.9%
KGC Kinross Gold Corporation0 of 10−1.2%−49.9%−41.7%−18.4%−5.2%−40.7%−21.8%−2.1%−71.4%−75.8%
AGI Alamos Gold Inc.3 of 9−0.7%−27.7%−44.2%−40.9%−9.4%−52.9%−29.8%−0.5%−62.2%—
FCX Freeport-McMoRan Inc.0 of 10−7.2%−51.3%−56.1%−32.8%−8.4%−72.2%−46.7%−2.1%−86.4%−51.4%
FSM Fortuna Mining Corp.1 of 9−1.9%−53.0%−54.7%−28.0%−7.8%−34.3%−31.4%0.0%−92.2%—
FNV Franco-Nevada Corporation5 of 8−1.8%−33.3%−26.9%−7.8%−7.0%−20.8%−24.4%−0.9%——
GLD SPDR Gold Shares8 of 90.0%−21.0%−12.5%−2.7%−1.5%−11.7%−15.4%−0.2%−29.4%—
CDE Coeur Mining, Inc.0 of 10−1.4%−51.7%−59.3%−34.4%−12.3%−56.0%−30.5%−1.9%−93.0%−83.2%
SSRM SSR Mining Inc.1 of 10−1.1%−46.2%−42.6%−10.8%−6.4%−50.3%−42.8%−0.7%−86.5%−54.2%
BTG B2Gold Corp.2 of 8−0.7%−41.4%−43.4%−10.3%−8.6%−55.2%−21.1%0.0%——
NG NovaGold Resources Inc.2 of 9−1.5%−50.1%−38.3%−14.6%−3.2%−20.8%−44.8%−3.8%−97.9%—
EQX Equinox Gold Corp.0 of 40.0%−65.9%−43.0%−16.9%——————
SA Seabridge Gold Inc.0 of 9−0.2%−51.3%−54.2%−22.0%−7.0%−38.3%−31.7%−3.1%−81.8%—
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How closely does B move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares B with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than B's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
B This pageBarrick Mining Corporation57%43%1.340.40
GLD SPDR Gold Shares40%3%12.410.14
SSRM SSR Mining Inc.39%5%7.650.46
GFI Gold Fields Limited102%46%2.220.69
AU AngloGold Ashanti Plc88%40%2.190.61
WPM Wheaton Precious Metals Corp.78%37%2.090.48
HMY Harmony Gold Mining Company Limited89%57%1.571.07
NEM Newmont Corporation68%45%1.520.39
FNV Franco-Nevada Corporation69%47%1.480.49
AGI Alamos Gold Inc.76%52%1.450.80
KGC Kinross Gold Corporation100%70%1.420.83
AEM Agnico Eagle Mines Limited77%57%1.340.70
RGLD Royal Gold, Inc.69%54%1.280.56
BTG B2Gold Corp.63%61%1.020.78
IAG Iamgold Corporation120%131%0.911.17
FCX Freeport-McMoRan Inc.164%181%0.901.74
SA Seabridge Gold Inc.88%110%0.810.91
EGO Eldorado Gold Corporation82%115%0.711.06
FSM Fortuna Mining Corp.81%128%0.631.10
CDE Coeur Mining, Inc.126%213%0.591.56
NG NovaGold Resources Inc.51%91%0.560.80
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What diversifies B?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with B's. Because such investments tend not to fall at the same time, pairing B with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which B lost money. The last two columns show a portfolio that is 80% B and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202420222021201820172015201420132012201120082002200120001999199780/20 mix volatility80/20 mix annual return
B Barrick Mining Corporation (this page)1.00+138%0.65−12.3%−6.2%−13.4%−5.6%−8.6%−30.6%−38.2%−48.5%−21.1%−14.0%−10.8%−1.5%−1.5%−6.3%−8.4%−34.8%36.4%+20.8%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.36+119%1.48+15.9%+3.8%+17.8%−5.2%+10.0%———————————29.8%+21.1%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.13+225%1.34+29.8%+6.0%+18.0%−19.8%+22.8%+7.7%+8.1%+41.3%+19.6%−16.1%−20.8%—————29.5%+23.3%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.23+101%1.04+33.4%+10.4%+23.1%−8.7%+1.1%−25.3%+23.8%+16.6%————————29.9%+20.9%
HDV Dividend & IncomeiShares Core High Dividend ETF0.36+83.3%1.00+14.1%+7.1%+19.6%−3.0%+13.5%−0.3%+12.6%+23.8%+9.6%———————30.3%+20.1%
SMH TechnologyVanEck Semiconductor ETF0.08+323%0.97+39.1%−33.5%+42.1%−9.1%+38.5%−0.3%+30.2%+33.4%+8.6%+6.8%−44.7%−47.0%−14.6%———30.5%+26.2%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.25+85.0%0.96+13.4%−5.1%+19.6%−9.5%+16.7%+4.1%+3.4%+26.4%+20.9%———————29.7%+20.5%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.04+136%0.93+45.8%−10.4%+22.7%−0.9%+27.8%———————————29.6%+22.5%
XLE EnergyState Street Energy Select Sector SPDR ETF0.16+177%0.93+5.6%+64.4%+53.3%−18.2%−0.9%−21.5%−8.7%+26.3%+5.2%+2.8%−39.0%−14.8%−18.2%+24.4%+18.1%—30.4%+22.8%

Stocks

InvestmentCorrelation5Y returnSharpe202420222021201820172015201420132012201120082002200120001999199780/20 mix volatility80/20 mix annual return
B Barrick Mining Corporation (this page)1.00+138%0.65−12.3%−6.2%−13.4%−5.6%−8.6%−30.6%−38.2%−48.5%−21.1%−14.0%−10.8%−1.5%−1.5%−6.3%−8.4%−34.8%36.4%+20.8%
CAH Medical - DistributionCardinal Health, Inc.0.09+479%1.55+19.0%+54.1%−0.4%−24.5%−12.7%+12.6%+23.0%+66.0%+3.8%+8.1%−39.6%−8.3%−2.5%+108%−36.8%+29.1%30.1%+25.8%
CLS Hardware, Equipment & PartsCelestica Inc.-0.14+3,143%1.47+215%+1.3%+37.9%−16.3%−11.6%−6.0%+12.9%+27.6%+11.2%−24.4%−20.5%−65.1%−25.6%−2.3%+350%—29.8%+40.4%
FIX Engineering & ConstructionComfort Systems USA, Inc.-0.12+1,636%1.46+107%+17.0%+89.0%+0.8%+32.1%+67.7%−10.4%+61.7%+15.7%−17.0%−15.2%−9.4%+73.7%−71.1%−58.7%—29.4%+35.8%
MCK Medical - DistributionMcKesson Corporation0.14+413%1.44+23.7%+51.8%+44.2%−28.4%+12.0%−4.5%+29.3%+67.7%+25.6%+11.8%−40.4%−27.2%+4.9%+61.2%−71.3%+96.3%30.3%+25.0%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.12+690%1.41−4.0%+86.6%+61.0%−8.2%+34.8%+17.4%+0.4%+48.6%+94.3%———————30.6%+28.0%
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Common questions

What was B's worst drawdown?

B's deepest decline since it began trading in 1986 was 88.5%, from April 2011 to September 2015. It took about ten years from the low to climb back to its old high.

What were B's best and worst years?

Over 29 full calendar years, B's best year was 2025, when it returned 187%. Its worst was 2013, with a return of -48.5%.

Is there a better investment than B?

Among B's popular alternatives, RGLD earned more than B with less volatility over the past 5 years: 20.6% a year at 32.4% volatility, against 18.9% a year at 37.3%. Looking beyond its popular alternatives, RS (metals & mining) and MOG-A (aerospace & defense) earned more than B with less volatility over the past 5 years. RS returned 24.8% a year at 28.1% volatility, against 18.9% a year at 37.3%.

Is B more volatile than the S&P 500?

Yes. B's volatility over the past 5 years was 37.3%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, B's return lands within 37.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is B's Sharpe ratio?

B's Sharpe ratio over the past 5 years was 0.65, against 0.79 for the S&P 500, so B earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is B with the S&P 500?

Over the past 5 years, B's monthly returns had a correlation of 0.21 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against B instead: the lower it is, the more that option would diversify a B holding.

What are the best alternatives to B?

Of the 21 popular alternatives we compared, six outperformed B in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: IAG, AU and WPM.

Did B outperform the S&P 500?

B finished ahead of the S&P 500 (SPY) in 13 of 29 full calendar years. In 2025, it returned +187%, against +17.7% for the index.

How did B do in stock market crashes?

B fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in three. The clearest case was the late-2018 sell-off, when B fell 8.7% and the S&P 500 fell 19.3%.

What diversifies B?

These had a low correlation with B over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.36), DXJ (correlation 0.13) and EMLP (correlation 0.23); among large stocks, CAH (correlation 0.09), CLS (correlation -0.14) and FIX (correlation -0.12). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to B

Other stocks and ETFs