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Ivanhoe Mines

ISIN CA46579R1047

WKN A1W4VG

Market cap (in EUR)

10,140 m

Country

Canada

Sector

Non-Energy Materials

Dividend yield

0.00%

Overview

Quote

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Description

Ivanhoe Mines Ltd. is a mining development company engaged in the exploration and development of mineral properties. Its projects include the Platreef Project, Kamao-Kakula Project, Western Foreland Exploration Project, and Kipushi Project. The company was founded by Robert Martin Friedland on April 29, 1993 and is headquartered in Vancouver, Canada.

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Non-Energy Materials Mining and Mineral Products Metal Ore Mining Canada

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Financials

Key metrics

Market capitalisation, EUR	10,140 m
EPS, EUR	0.17
P/B ratio	2.1
P/E ratio	45.0
Dividend yield	0.00%

Income statement (2025)

Revenue, EUR	392 m
Net income, EUR	232 m
Profit margin	59.23%

What ETF is Ivanhoe Mines in?

There are 171 ETFs which contain Ivanhoe Mines. All of these ETFs are listed in the table below. The ETF with the largest weighting of Ivanhoe Mines is the HANetf Sprott Copper Miners ESG Screened UCITS ETF USD Acc.

ETF	Weight	Investment focus	Fund size (in m EUR)
iShares MSCI World Sector & Country Neutral Equal Weight UCITS ETF USD (Acc)	0.04%	Equity World Equal Weighted	18
UBS Core MSCI World UCITS ETF USD acc	0.01%	Equity World	7,437
Xtrackers MSCI Canada Screened UCITS ETF 1C	0.39%	Equity Canada Social/Environmental	992
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned UCITS ETF USD (dist)	0.11%	Equity World Social/Environmental Climate Change	42
UBS Core MSCI World UCITS ETF hCHF acc	0.01%	Equity World	892
Xtrackers Portfolio UCITS ETF 1C	0.00%	Equity World Multi-Asset Strategy	690
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned UCITS ETF USD (acc)	0.11%	Equity World Social/Environmental Climate Change	318
Invesco MSCI World Equal Weight UCITS ETF Acc	0.09%	Equity World Equal Weighted	1,172
iShares Moderate Portfolio UCITS ETF EUR (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	39
UBS MSCI Canada UCITS ETF CAD acc	0.29%	Equity Canada	562
iShares Core MSCI World UCITS ETF USD (Dist)	0.01%	Equity World	510
Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc	0.21%	Equity World Social/Environmental Climate Change	28
Xtrackers MSCI World ex USA UCITS ETF 1C	0.04%	Equity World	4,964
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF CHF Hedged (acc)	0.01%	Equity World Social/Environmental	3
Global X Copper Miners UCITS ETF USD Accumulating	3.29%	Equity World Basic Materials	929
Goldman Sachs Paris-Aligned Climate World Equity UCITS ETF USD (Acc)	0.10%	Equity World Social/Environmental Climate Change	7
UBS MSCI Canada UCITS ETF hCHF acc	0.29%	Equity Canada	46
UBS Core MSCI World UCITS ETF USD dis	0.01%	Equity World	1,413
BNP Paribas Easy MSCI World UCITS ETF USD Acc	0.01%	Equity World	56
Amundi Prime All Country World UCITS ETF Acc	0.01%	Equity World	1,328
UBS MSCI World UCITS ETF USD dis	0.01%	Equity World	1,334
UBS MSCI World ex USA UCITS ETF USD acc	0.03%	Equity World	89
Vanguard FTSE Developed World UCITS ETF Acc	0.01%	Equity World	5,231
JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	0.01%	Equity World Social/Environmental	1,559
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned UCITS ETF EUR Hedged (acc)	0.11%	Equity World Social/Environmental Climate Change	16
BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF USD Acc	0.11%	Equity World Equal Weighted	22
BNP Paribas Easy MSCI World Min TE UCITS ETF EUR Acc	0.02%	Equity World Social/Environmental	427
Xtrackers World Net Zero Pathway Paris Aligned UCITS ETF 1C	0.05%	Equity World Social/Environmental Climate Change	109
iShares MSCI ACWI UCITS ETF USD (Dist)	0.00%	Equity World	5
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)	0.03%	Equity World	4,678
Deka MSCI World Climate Change ESG UCITS ETF	0.01%	Equity World Social/Environmental Climate Change	1,500
Xtrackers MSCI AC World Screened UCITS ETF 2C - EUR Hedged	0.01%	Equity World Social/Environmental	84
Vanguard ESG Global All Cap UCITS ETF (USD) Distributing	0.01%	Equity World Social/Environmental	485
Amundi MSCI World ESG Selection UCITS ETF EUR Hedged Acc	0.02%	Equity World Social/Environmental	77
State Street SPDR MSCI World UCITS ETF USD Unhedged	0.02%	Equity World	14,950
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Dist)	0.03%	Equity World	92
Deka MSCI World UCITS ETF Distribution	0.01%	Equity World	4,616
Scalable MSCI AC World Xtrackers UCITS ETF 1C	0.00%	Equity World	509
Vanguard FTSE Developed World UCITS ETF Distributing	0.01%	Equity World	3,574
Vanguard FTSE North America UCITS ETF (USD) Accumulating	0.01%	Equity North America	2,287
Amundi Prime All Country World UCITS ETF GBP Hedged Dist	0.01%	Equity World	27
UBS MSCI Canada UCITS ETF hGBP dis	0.29%	Equity Canada	2
Amundi MSCI World ESG Selection UCITS ETF Acc	0.02%	Equity World Social/Environmental	1,767
UBS MSCI ACWI Universal UCITS ETF hEUR acc	0.00%	Equity World Social/Environmental	643
AXA IM MSCI World Equity PAB UCITS ETF USD Dist	0.11%	Equity World Social/Environmental Climate Change	1
iShares MSCI World Paris-Aligned Climate UCITS ETF USD (Acc)	0.12%	Equity World Social/Environmental Climate Change	377
Xtrackers MSCI World ex USA UCITS ETF 1D	0.04%	Equity World	226
State Street SPDR MSCI All Country World UCITS ETF USD Hedged (Acc)	0.00%	Equity World	67
Xtrackers MSCI World UCITS ETF 2C - EUR Hedged	0.01%	Equity World	360
State Street SPDR MSCI World UCITS ETF GBP Hedged (Dist)	0.02%	Equity World	261
Xtrackers MSCI World Screened UCITS ETF 1D	0.01%	Equity World Social/Environmental	118
Xtrackers MSCI World UCITS ETF 1D	0.01%	Equity World	4,218
Xtrackers MSCI World ESG UCITS ETF 1C	0.02%	Equity World Social/Environmental	4,622
BNP Paribas Easy MSCI World UCITS ETF EUR Acc	0.01%	Equity World	111
Xtrackers MSCI AC World Screened UCITS ETF 1C	0.01%	Equity World Social/Environmental	4,664
UBS MSCI World Selection UCITS ETF hEUR acc	0.02%	Equity World Social/Environmental	42
iShares Conservative Portfolio UCITS ETF USD Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	0
Xtrackers MSCI World Climate Transition UCITS ETF 1C	0.09%	Equity World Social/Environmental Climate Change	20
iShares MSCI World Screened UCITS ETF USD (Dist)	0.01%	Equity World Social/Environmental	1,014
iShares MSCI World Paris-Aligned Climate UCITS ETF USD (Dist)	0.12%	Equity World Social/Environmental Climate Change	118
UBS MSCI Canada Universal UCITS ETF CAD acc	0.29%	Equity Canada Social/Environmental Climate Change	115
AXA IM MSCI World Equity PAB UCITS ETF USD Acc	0.11%	Equity World Social/Environmental Climate Change	1,436
UBS MSCI ACWI Universal UCITS ETF USD dis	0.00%	Equity World Social/Environmental	2,152
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF EUR Acc	0.02%	Equity World Social/Environmental	15
HSBC MSCI World UCITS ETF EUR Hedged (Acc)	0.01%	Equity World	619
Xtrackers MSCI World ESG UCITS ETF 1D	0.02%	Equity World Social/Environmental	15
iShares MSCI World Mid-Cap Equal Weight UCITS ETF USD (Acc)	0.14%	Equity World Mid Cap	382
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF EUR (acc)	0.01%	Equity World Social/Environmental	1
Amundi Core MSCI World UCITS ETF USD Dist	0.01%	Equity World	1,404
JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)	0.01%	Equity World Social/Environmental	72
iShares MSCI World Screened UCITS ETF USD (Acc)	0.01%	Equity World Social/Environmental	4,438
UBS MSCI ACWI Universal UCITS ETF hGBP acc	0.00%	Equity World Social/Environmental	273
iShares MSCI ACWI Screened UCITS ETF USD (Acc)	0.01%	Equity World Social/Environmental	507
Amundi MSCI North America ESG Broad Transition UCITS ETF Acc	0.07%	Equity North America Social/Environmental Climate Change	422
UBS MSCI ACWI Universal UCITS ETF hJPY acc	0.00%	Equity World Social/Environmental	102
BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF EUR Acc	0.11%	Equity World Equal Weighted	33
Vanguard FTSE North America UCITS ETF (USD) Distributing	0.01%	Equity North America	2,558
BNP Paribas Easy ESG Enhanced World UCITS ETF EUR Hedged Acc	0.03%	Equity World Social/Environmental	81
JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF EUR Hedged (acc)	0.01%	Equity World Social/Environmental	797
UBS MSCI World Selection UCITS ETF USD acc	0.02%	Equity World Social/Environmental	671
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned UCITS ETF CHF Hedged (acc)	0.11%	Equity World Social/Environmental Climate Change	3
HSBC MSCI World Climate Paris Aligned UCITS ETF	0.11%	Equity World Social/Environmental Climate Change	449
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned UCITS ETF EUR (acc)	0.11%	Equity World Social/Environmental Climate Change	303
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF USD C	0.02%	Equity World Social/Environmental	25
iShares MSCI World UCITS ETF (Dist)	0.01%	Equity World	7,369
Amundi MSCI World ESG Broad Transition UCITS ETF Dist	0.06%	Equity World Social/Environmental Climate Change	235
iShares Core MSCI World UCITS ETF EUR Hedged (Dist)	0.01%	Equity World	1,621
Amundi Prime Global UCITS ETF Acc	0.01%	Equity World	1,571
Vanguard FTSE All-World UCITS ETF (USD) Accumulating	0.01%	Equity World	33,367
HSBC MSCI World UCITS ETF USD (Acc)	0.01%	Equity World	1,588
Ossiam Bloomberg World PAB UCITS ETF 1A (EUR)	0.05%	Equity World Social/Environmental Climate Change	109
HSBC MSCI World UCITS ETF USD	0.01%	Equity World	12,431
L&G Gerd Kommer Multifactor Equity UCITS ETF USD Distributing	0.01%	Equity World Multi-Factor Strategy	178
iShares MSCI World ESG Enhanced CTB UCITS ETF USD (Acc)	0.06%	Equity World Social/Environmental	3,746
UBS MSCI Canada UCITS ETF hGBP acc	0.29%	Equity Canada	170
iShares MSCI North America UCITS ETF	0.01%	Equity North America	1,162
BNP Paribas Easy ESG Enhanced World UCITS ETF EUR Acc	0.03%	Equity World Social/Environmental	456
L&G Global Equity UCITS ETF	0.01%	Equity World Social/Environmental	1,021
Amundi MSCI World Climate Paris Aligned UCITS ETF Acc	0.12%	Equity World Social/Environmental Climate Change	1,289
Invesco MSCI World Universal Screened UCITS ETF Acc	0.01%	Equity World Social/Environmental	227
UBS MSCI ACWI Universal UCITS ETF hCHF dis	0.00%	Equity World Social/Environmental	42
UBS Core MSCI World UCITS ETF hGBP dis	0.01%	Equity World	92
AXA IM MSCI World Equity PAB UCITS ETF EUR Hedged Acc	0.11%	Equity World Social/Environmental Climate Change	219
UBS MSCI ACWI Universal UCITS ETF hCHF acc	0.00%	Equity World Social/Environmental	1,366
iShares Essential Metals Producers UCITS ETF USD (Acc)	1.38%	Equity World Basic Materials Clean Energy	685
iShares MSCI ACWI UCITS ETF USD (Acc)	0.00%	Equity World	23,890
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF USD (acc)	0.01%	Equity World Social/Environmental	175
iShares MSCI World Materials Sector Advanced UCITS ETF USD (Dist)	0.16%	Equity World Basic Materials Social/Environmental	47
UBS Core MSCI World UCITS ETF hEUR acc	0.01%	Equity World	582
L&G MSCI World Mid Cap UCITS ETF USD Acc	0.05%	Equity World Mid Cap	6
UBS MSCI World Selection UCITS ETF hEUR dis	0.02%	Equity World Social/Environmental	287
State Street SPDR MSCI All Country World UCITS ETF EUR Hedged (Acc)	0.00%	Equity World	1,161
Xtrackers MSCI World ESG UCITS ETF 2C EUR Hedged	0.02%	Equity World Social/Environmental	939
UBS MSCI World Selection UCITS ETF hCHF acc	0.02%	Equity World Social/Environmental	265
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF EUR Hedged (acc)	0.01%	Equity World Social/Environmental	18
iShares Conservative Portfolio UCITS ETF EUR (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	15
Franklin FTSE Developed World UCITS ETF USD Capitalisation	0.01%	Equity World	17
iShares Copper Miners UCITS ETF USD (Acc)	1.50%	Equity World Basic Materials	397
UBS MSCI Canada UCITS ETF hUSD acc	0.29%	Equity Canada	50
BNP Paribas Easy MSCI World Min TE UCITS ETF USD Acc	0.02%	Equity World Social/Environmental	421
L&G Gerd Kommer Multifactor Equity UCITS ETF USD Accumulating	0.01%	Equity World Multi-Factor Strategy	1,045
Ossiam Bloomberg Canada PAB UCITS ETF 1A (EUR)	3.29%	Equity Canada Social/Environmental Climate Change	32
Vanguard ESG North America All Cap UCITS ETF (USD) Distributing	0.02%	Equity North America Social/Environmental	24
iShares MSCI World EUR Hedged UCITS ETF (Acc)	0.01%	Equity World	4,855
Amundi Core MSCI World UCITS ETF Acc	0.01%	Equity World	12,487
Invesco Dow Jones Islamic Global Developed Markets UCITS ETF Acc	0.02%	Equity World Islamic Investing	855
State Street SPDR MSCI World Materials UCITS ETF USD	0.27%	Equity World Basic Materials	153
JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)	0.01%	Equity World Social/Environmental	5,133
UBS MSCI World ex USA Climate Paris Aligned UCITS ETF USD acc	0.31%	Equity World Social/Environmental Climate Change	47
BNP Paribas Easy MSCI World Min TE UCITS ETF EUR Hedged Acc	0.02%	Equity World Social/Environmental	96
HANetf Sprott Copper Miners ESG Screened UCITS ETF USD Acc	4.64%	Equity World Basic Materials Social/Environmental	106
iShares Moderate Portfolio UCITS ETF USD Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	7
Amundi Prime Global UCITS ETF Dist	0.01%	Equity World	1,190
iShares Core MSCI World UCITS ETF USD (Acc)	0.01%	Equity World	112,432
Xtrackers MSCI World UCITS ETF 1C	0.01%	Equity World	17,184
Xtrackers Zurich ESG Allocation Equities UCITS ETF 1C	0.02%	Equity World Social/Environmental Climate Change	246
Xtrackers MSCI World Materials UCITS ETF 1C	0.28%	Equity World Basic Materials	675
iShares MSCI World GBP Hedged UCITS ETF (Acc)	0.01%	Equity World	478
iShares Growth Portfolio UCITS ETF EUR (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	80
Vanguard ESG North America All Cap UCITS ETF (USD) Accumulating	0.02%	Equity North America Social/Environmental	240
Amundi MSCI World ESG Broad Transition UCITS ETF Acc	0.06%	Equity World Social/Environmental Climate Change	941
State Street SPDR MSCI World UCITS ETF EUR Hedged (Acc)	0.02%	Equity World	684
Amundi Core MSCI World UCITS ETF EUR Hedged Acc	0.01%	Equity World	55
ODDO BHF Global Equity Active UCITS ETF (Acc)	0.01%	Equity World Social/Environmental	5
UBS MSCI ACWI Climate Paris Aligned UCITS ETF USD acc	0.11%	Equity World Social/Environmental Climate Change	33
Amundi Prime All Country World UCITS ETF Dist	0.01%	Equity World	3,634
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF USD (dist)	0.01%	Equity World Social/Environmental	53
Vanguard FTSE All-World UCITS ETF (USD) Distributing	0.01%	Equity World	19,911
VanEck S&P Global Mining UCITS ETF A	0.35%	Equity World Basic Materials	1,739
Xtrackers World Biodiversity Focus SRI UCITS ETF 1C	0.02%	Equity World Social/Environmental	16
UBS MSCI ACWI Universal UCITS ETF hUSD acc	0.00%	Equity World Social/Environmental	1,201
BNP Paribas Easy ESG Enhanced World UCITS ETF USD Acc	0.03%	Equity World Social/Environmental	14
Amundi MSCI North America ESG Broad Transition UCITS ETF Dist	0.07%	Equity North America Social/Environmental Climate Change	35
State Street SPDR MSCI All Country World UCITS ETF USD Unhedged (Acc)	0.00%	Equity World	8,946
iShares Growth Portfolio UCITS ETF USD Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	1
UBS MSCI Canada UCITS ETF hEUR acc	0.29%	Equity Canada	149
UBS MSCI Canada UCITS ETF CAD dis	0.29%	Equity Canada	718
UBS MSCI World ex Mega Cap UCITS ETF USD acc	0.02%	Equity World	34
Amundi MSCI World ESG Broad Transition UCITS ETF EUR Hedged (Acc)	0.06%	Equity World Social/Environmental Climate Change	2
Amundi MSCI World Ex USA UCITS ETF Dist	0.04%	Equity World	116
iShares MSCI World ESG Enhanced CTB UCITS ETF USD (Dist)	0.06%	Equity World Social/Environmental	725
iShares MSCI World ESG Enhanced CTB UCITS ETF EUR Hedged (Acc)	0.06%	Equity World Social/Environmental	231
Finanzen.net MSCI World UCITS ETF Acc	0.01%	Equity World	13
Ossiam Bloomberg World PAB UCITS ETF 1A (USD)	0.05%	Equity World Social/Environmental Climate Change	0
Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating	0.01%	Equity World Social/Environmental	775
Xtrackers MSCI World Screened UCITS ETF 1C	0.01%	Equity World Social/Environmental	62
Amundi MSCI World Screened UCITS ETF Acc	0.01%	Equity World Social/Environmental	1,168
HSBC MSCI Canada UCITS ETF USD	0.30%	Equity Canada	271
iShares MSCI Canada UCITS ETF (Acc)	0.29%	Equity Canada	1,954
iShares MSCI World ex-USA UCITS ETF USD (Acc)	0.04%	Equity World	2,655
Amundi MSCI World Ex USA UCITS ETF Acc	0.04%	Equity World	562

Order fees

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Order volume:

Order fee	Stock savings plans
0.99 €	4500	View offer**
0.00 €	8045	View offer*
1.00 €	2500	View offer*
0.00 €	7560	View offer*
9.95 €	5000	View offer*

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Source: justETF Research; as of 4/2026. The offers are sorted in the following way: 1. Rating 2. Order fee 3. Number of stock savings plans. The number of stock savings plans is rounded. In addition to the fees charged by online brokers, additional costs may apply. The stated fees are thus exclusive of standard market spreads, commissions, product costs and third-party fees. Please note: No guarantee can be given for the completeness, correctness and accuracy of the content listed. The information on the online brokers' homepages is decisive. Investments in securities involve risks.
*Affiliate link
** Important note: We are part of the Scalable Group since 2021 and are a wholly owned subsidiary of Scalable GmbH. This means that we are economically connected, but operate with editorial independence. Conflicts of interest are avoided because brokers — including Scalable — are evaluated according to uniform, objective criteria. You can view these in our transparent rating system. Ultimately, it’s up to you to decide how and with whom you want to invest.

Savings plan offers

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Select your savings amount:

Broker	Rating	Execution fee	Account fee
		0.00 €	0.00 €	View offer**
		0.00 €	0.00 €	View offer*
		0.00 €	0.00 €	View offer*
		0.00 €	0.00 €	View offer*
		0.00 €	0.00 €	View offer*

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Source: justETF Research; as of 4/2026. The offers are sorted in the following way: 1. Rating 2. Execution fee 3. Number of stock savings plans. The number of stock savings plans is rounded. In addition to the fees charged by online brokers, additional costs may apply. The stated fees are thus exclusive of standard market spreads, commissions, product costs and third-party fees. Please note: No guarantee can be given for the completeness, correctness and accuracy of the content listed. The information on the online brokers' homepages is decisive. Investments in securities involve risks.
*Affiliate link
** Important note: We are part of the Scalable Group since 2021 and are a wholly owned subsidiary of Scalable GmbH. This means that we are economically connected, but operate with editorial independence. Conflicts of interest are avoided because brokers — including Scalable — are evaluated according to uniform, objective criteria. You can view these in our transparent rating system. Ultimately, it’s up to you to decide how and with whom you want to invest.

Performance

Returns overview

YTD	-21.43%
1 month	-2.38%
3 months	-24.61%
6 months	-18.39%
1 year	+2.23%
3 years	-7.79%
5 years	+42.26%
Since inception (MAX)	+336.31%
2025	-12.50%
2024	+28.80%
2023	+21.49%
2022	+3.71%

Monthly returns in a heat map

Risk

Risk metrics in this section:

Volatility, annualised, measured for 1, 3 and 5 year periods. The annualised volatility reflects the degree of price fluctuations during a one year period. The higher the volatility, the more significantly the price of the asset (stock, ETF, etc.) has changed in the past. Assets with higher volatility are generally considered more risky. We calculate the volatility based on the data for the past 1, 3 and 5 years so that you can see if price fluctuations for the ETF became stronger or weaker over time.
Return per risk for 1, 3 and 5 year periods. This is the annualised (i.e. converted to a one year period) past return divided by the past annualised volatility. The metric puts the historical return of an asset in relation to its historical risk and gives you a retrospective indication of the degree of price fluctuation you had to bear with in order to obtain the return. We calculate this parameter for 1, 3 and 5 year periods to display its evolution over time.
Maximum drawdown for a period. This shows the worst possible loss an investor could have suffered during the respective period, by first buying and subsequently selling the asset at the least favourable prices. For example, if there was the following sequence of daily ETF prices: 10€, 5€, 12€, 20€, an investor would have suffered the worst loss by buying for 10€ and subsequently selling for 5€. Therefore in this case the maximum drawdown would be (5€ - 10€)/10€ = -50%.

ETF returns include dividend payments (if applicable).