Pan American Silver Corp.

ISIN CA6979001089

WKN 876617

Market cap (in EUR)

17,051 m

Country

Canada

Sector

Non-Energy Materials

Dividend yield

1.31%

Overview

Quote

Description

Pan American Silver Corp. engages in the operation, development, and exploration of silver and gold producing properties and assets. It operates through the Silver and Gold segments. The Silver segment includes La Colorada, Huaron, Morococha, San Vicente, and Manantial Espejo mines. The Gold segment refers to the Dolores, Shahuindo, La Arena, Timmins West, and Bell Creek mines. The company was founded by Ross J. Beaty and John H. Wright on March 7, 1979 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	17,051 m
EPS, EUR	2.69
P/B ratio	2.7
P/E ratio	15.2
Dividend yield	1.31%

Income statement (2025)

Revenue, EUR	3,209 m
Net income, EUR	867 m
Profit margin	27.02%

What ETF is Pan American Silver Corp. in?

There are 191 ETFs which contain Pan American Silver Corp.. All of these ETFs are listed in the table below. The ETF with the largest weighting of Pan American Silver Corp. is the Global X Silver Miners UCITS ETF USD Accumulating.

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	20
UBS Core MSCI World UCITS ETF USD acc	0.02%	Equity World	9,924
Xtrackers MSCI Canada Screened UCITS ETF 1C	0.84%	Equity Canada Social/Environmental	1,178
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF USD (dist)	0.04%	Equity World Social/Environmental Climate Change	37
UBS Core MSCI World UCITS ETF hCHF acc	0.02%	Equity World	1,025
iShares FTSE All-World UCITS ETF USD (Acc)	0.02%	Equity World	26
Xtrackers Portfolio UCITS ETF 1C	0.00%	Equity World Multi-Asset Strategy	754
Invesco MSCI World Equal Weight UCITS ETF Acc	0.08%	Equity World Equal Weighted	1,511
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF USD (acc)	0.04%	Equity World Social/Environmental Climate Change	509
iShares Moderate Portfolio UCITS ETF EUR (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	46
UBS MSCI Canada UCITS ETF CAD acc	0.78%	Equity Canada	635
iShares Core MSCI World UCITS ETF USD (Dist)	0.03%	Equity World	767
Goldman Sachs Alpha Enhanced World Equity Active UCITS ETF CLASS USD (Acc)	0.02%	Equity World Social/Environmental	256
Amundi S&P Global Materials ESG UCITS ETF DR EUR (A)	1.00%	Equity World Basic Materials Social/Environmental	407
iShares World Equity Enhanced Active UCITS ETF EUR Hedged (Acc)	0.02%	Equity World Social/Environmental Multi-Asset Strategy	131
Xtrackers MSCI World ex USA UCITS ETF 1C	0.08%	Equity World	5,863
Franklin S&P World Screened UCITS ETF Acc	0.04%	Equity United States Social/Environmental Climate Change	13
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF CHF Hedged (acc)	0.02%	Equity World Social/Environmental	4
iShares Moderate Portfolio UCITS ETF GBP Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	28
Invesco FTSE All-World UCITS ETF GBP PfHdg Dist	0.02%	Equity World	26
UBS MSCI Canada UCITS ETF hCHF acc	0.78%	Equity Canada	51
BNP Paribas Easy MSCI World ex USA UCITS ETF Acc	0.09%	Equity World	11
BNP Paribas Easy MSCI World UCITS ETF USD Acc	0.03%	Equity World	80
UBS Core MSCI World UCITS ETF USD dis	0.02%	Equity World	1,917
Amundi Prime All Country World UCITS ETF Acc	0.02%	Equity World	2,173
UBS MSCI World UCITS ETF USD dis	0.03%	Equity World	1,462
JPMorgan Global Research Enhanced Index Equity Active UCITS ETF GBP Hedged (dist)	0.02%	Equity World Social/Environmental	28
UBS MSCI World ex USA UCITS ETF USD acc	0.09%	Equity World	175
Vanguard FTSE Developed World UCITS ETF Acc	0.02%	Equity World	5,661
JPMorgan Global Research Enhanced Index Equity Active UCITS ETF USD (dist)	0.02%	Equity World Social/Environmental	1,741
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF EUR Hedged (acc)	0.04%	Equity World Social/Environmental Climate Change	15
Amundi FTSE All World GDP-Weighted UCITS ETF Acc	0.02%	Equity World	14
BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF USD Acc	0.09%	Equity World Equal Weighted	25
BNP Paribas Easy MSCI World Min TE UCITS ETF EUR Acc	0.03%	Equity World Social/Environmental	538
Xtrackers World Net Zero Pathway Paris Aligned UCITS ETF 1C	0.06%	Equity World Social/Environmental Climate Change	121
iShares MSCI ACWI UCITS ETF USD (Dist)	0.02%	Equity World	18
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)	0.02%	Equity World	6,281
Xtrackers MSCI AC World Screened UCITS ETF 2C - EUR Hedged	0.02%	Equity World Social/Environmental	85
iShares Dow Jones Global Leaders Screened UCITS ETF USD (Acc)	0.11%	Equity World Social/Environmental	1,838
Vanguard ESG Global All Cap UCITS ETF (USD) Distributing	0.02%	Equity World Social/Environmental	594
State Street SPDR MSCI World UCITS ETF USD Unhedged	0.03%	Equity World	17,160
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Dist)	0.02%	Equity World	156
Scalable MSCI AC World Xtrackers UCITS ETF 1C	0.03%	Equity World	674
Vanguard FTSE Developed World UCITS ETF Distributing	0.02%	Equity World	4,076
Invesco MSCI ACWI Islamic M-Series UCITS ETF Acc	0.05%	Equity World Islamic Investing	75
VanEck Gold Miners UCITS ETF	3.42%	Equity World Basic Materials Gold Mining	2,744
Vanguard FTSE North America UCITS ETF (USD) Accumulating	0.03%	Equity North America	2,730
UBS MSCI Canada UCITS ETF hGBP dis	0.78%	Equity Canada	2
UBS MSCI ACWI Universal UCITS ETF hEUR acc	0.02%	Equity World Social/Environmental	759
Amundi S&P Global Materials ESG UCITS ETF DR EUR (D)	1.00%	Equity World Basic Materials Social/Environmental	10
JPMorgan Global Equity Multi-Factor UCITS ETF USD (dist)	0.08%	Equity World Multi-Factor Strategy	0
iShares MSCI World Paris-Aligned Climate UCITS ETF USD (Acc)	0.01%	Equity World Social/Environmental Climate Change	409
Xtrackers FTSE All-World ex US UCITS ETF 1C	0.05%	Equity World	28
Xtrackers MSCI World ex USA UCITS ETF 1D	0.08%	Equity World	237
State Street SPDR MSCI All Country World UCITS ETF USD Hedged (Acc)	0.03%	Equity World	95
Xtrackers MSCI World UCITS ETF 2C - EUR Hedged	0.02%	Equity World	413
State Street SPDR MSCI World UCITS ETF GBP Hedged (Dist)	0.03%	Equity World	329
Xtrackers MSCI World Screened UCITS ETF 1D	0.03%	Equity World Social/Environmental	135
Invesco FTSE All-World UCITS ETF EUR PfHdg Acc	0.02%	Equity World	55
Xtrackers MSCI World UCITS ETF 1D	0.02%	Equity World	4,915
BNP Paribas Easy MSCI World UCITS ETF EUR Acc	0.03%	Equity World	138
Xtrackers MSCI AC World Screened UCITS ETF 1C	0.02%	Equity World Social/Environmental	5,905
JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF GBP Hedged (acc)	0.02%	Equity World Social/Environmental	569
Invesco FTSE All-World UCITS ETF Acc	0.02%	Equity World	3,501
iShares Conservative Portfolio UCITS ETF USD Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	0
UBS ETF (LU) MSCI Canada UCITS ETF (CAD) A-UKdis	0.78%	Equity Canada	7
Xtrackers MSCI World Climate Transition UCITS ETF 1C	0.04%	Equity World Social/Environmental Climate Change	22
iShares MSCI World Islamic UCITS ETF	0.09%	Equity World Islamic Investing	1,258
iShares MSCI World Screened UCITS ETF USD (Dist)	0.03%	Equity World Social/Environmental	1,153
iShares MSCI World Paris-Aligned Climate UCITS ETF USD (Dist)	0.01%	Equity World Social/Environmental Climate Change	192
UBS MSCI Canada Universal UCITS ETF CAD acc	0.80%	Equity Canada Social/Environmental Climate Change	246
iShares World Equity Enhanced Active UCITS ETF GBP Hedged (Acc)	0.02%	Equity World Social/Environmental Multi-Asset Strategy	54
UBS MSCI ACWI Universal UCITS ETF USD dis	0.02%	Equity World Social/Environmental	2,258
iShares Gold Producers UCITS ETF	2.94%	Equity World Basic Materials Gold Mining	3,095
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF EUR Acc	0.03%	Equity World Social/Environmental	17
HSBC MSCI World UCITS ETF CHF hedged	0.02%	Equity World	80
HSBC MSCI World UCITS ETF EUR Hedged (Acc)	0.02%	Equity World	708
iShares MSCI World Mid-Cap Equal Weight UCITS ETF USD (Acc)	0.14%	Equity World Mid Cap	387
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF EUR (acc)	0.02%	Equity World Social/Environmental	2
iShares MSCI World Screened UCITS ETF USD (Acc)	0.03%	Equity World Social/Environmental	5,309
Amundi Core MSCI World UCITS ETF USD Dist	0.03%	Equity World	1,611
JPMorgan Global Research Enhanced Index Equity Active UCITS ETF EUR (acc)	0.02%	Equity World Social/Environmental	74
UBS MSCI ACWI Universal UCITS ETF hGBP acc	0.02%	Equity World Social/Environmental	372
iShares MSCI ACWI Screened UCITS ETF USD (Acc)	0.02%	Equity World Social/Environmental	2,829
Amundi MSCI North America ESG Broad Transition UCITS ETF Acc	0.01%	Equity North America Social/Environmental Climate Change	440
L&G Gold Mining UCITS ETF	2.37%	Equity World Basic Materials Gold Mining	626
Amundi Gold Miners UCITS ETF Dist	2.50%	Equity World Basic Materials Gold Mining	632
UBS MSCI ACWI Universal UCITS ETF hJPY acc	0.02%	Equity World Social/Environmental	1
BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF EUR Acc	0.09%	Equity World Equal Weighted	38
Vanguard FTSE North America UCITS ETF (USD) Distributing	0.03%	Equity North America	2,905
JPMorgan Global Research Enhanced Index Equity Active UCITS ETF EUR Hedged (acc)	0.02%	Equity World Social/Environmental	888
BNP Paribas Easy ESG Enhanced World UCITS ETF EUR Hedged Acc	0.00%	Equity World Social/Environmental	110
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF CHF Hedged (acc)	0.04%	Equity World Social/Environmental Climate Change	1
Amundi MSCI World Ex USA Screened UCITS ETF Acc	0.10%	Equity World Social/Environmental Climate Change	5
JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF EUR (acc)	0.04%	Equity World Social/Environmental Climate Change	313
Xtrackers MSCI World Value ESG UCITS ETF 1C	0.23%	Equity World Value	288
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF USD C	0.03%	Equity World Social/Environmental	61
iShares MSCI World UCITS ETF (Dist)	0.03%	Equity World	8,140
iShares Core MSCI World UCITS ETF EUR Hedged (Dist)	0.03%	Equity World	1,757
Amundi MSCI World ESG Broad Transition UCITS ETF Dist	0.01%	Equity World Social/Environmental Climate Change	186
Amundi Prime Global UCITS ETF Acc	0.02%	Equity World	2,743
iShares Growth Portfolio UCITS ETF GBP Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	26
Vanguard FTSE All-World UCITS ETF (USD) Accumulating	0.02%	Equity World	44,135
HSBC MSCI World UCITS ETF USD (Acc)	0.02%	Equity World	1,931
HSBC MSCI World UCITS ETF USD	0.02%	Equity World	13,641
L&G Gerd Kommer Multifactor Equity UCITS ETF USD Distributing	0.02%	Equity World Multi-Factor Strategy	214
iShares MSCI World ex-USA UCITS ETF USD (Dist)	0.10%	Equity World	0
iShares MSCI World CTB Enhanced ESG UCITS ETF USD (Acc)	0.01%	Equity World Social/Environmental	4,429
UBS MSCI Canada UCITS ETF hGBP acc	0.78%	Equity Canada	239
iShares MSCI North America UCITS ETF	0.03%	Equity North America	1,252
Xtrackers MSCI World UCITS ETF 3C - CHF Hedged	0.02%	Equity World	53
L&G Global Equity UCITS ETF	0.03%	Equity World Social/Environmental	1,495
BNP Paribas Easy ESG Enhanced World UCITS ETF EUR Acc	0.00%	Equity World Social/Environmental	393
Invesco MSCI World Universal Screened UCITS ETF Acc	0.02%	Equity World Social/Environmental	274
UBS MSCI ACWI Universal UCITS ETF hCHF dis	0.02%	Equity World Social/Environmental	83
Xtrackers MSCI AC World Screened UCITS ETF 5C - USD Hedged	0.02%	Equity World Social/Environmental	1
UBS Core MSCI World UCITS ETF hGBP dis	0.02%	Equity World	143
UBS Core MSCI World UCITS ETF hGBP acc	0.02%	Equity World	78
UBS MSCI ACWI Universal UCITS ETF hCHF acc	0.02%	Equity World Social/Environmental	1,778
Global X Silver Miners UCITS ETF USD Accumulating	14.25%	Equity World Basic Materials	1,146
iShares MSCI ACWI UCITS ETF USD (Acc)	0.02%	Equity World	29,634
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF USD (acc)	0.02%	Equity World Social/Environmental	218
Xtrackers MSCI World Momentum ESG UCITS ETF	0.10%	Equity World Momentum	281
iShares MSCI World Materials Sector Advanced UCITS ETF USD (Dist)	0.72%	Equity World Basic Materials Social/Environmental	49
UBS Core MSCI World UCITS ETF hEUR acc	0.02%	Equity World	864
L&G MSCI World Mid Cap UCITS ETF USD Acc	0.18%	Equity World Mid Cap	7
State Street SPDR MSCI All Country World UCITS ETF EUR Hedged (Acc)	0.03%	Equity World	1,636
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF EUR Hedged (acc)	0.02%	Equity World Social/Environmental	28
iShares Conservative Portfolio UCITS ETF EUR (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	16
Franklin FTSE Developed World UCITS ETF USD Capitalisation	0.02%	Equity World	19
UBS MSCI Canada UCITS ETF hUSD acc	0.78%	Equity Canada	58
iShares Core MSCI World UCITS ETF GBP Hedged (Dist)	0.03%	Equity World	1,183
BNP Paribas Easy MSCI World Min TE UCITS ETF USD Acc	0.03%	Equity World Social/Environmental	438
L&G Gerd Kommer Multifactor Equity UCITS ETF USD Accumulating	0.02%	Equity World Multi-Factor Strategy	1,322
Vanguard ESG North America All Cap UCITS ETF (USD) Distributing	0.04%	Equity North America Social/Environmental	26
iShares MSCI World EUR Hedged UCITS ETF (Acc)	0.03%	Equity World	5,271
Amundi Core MSCI World UCITS ETF Acc	0.03%	Equity World	14,106
Invesco Dow Jones Islamic Global Developed Markets UCITS ETF Acc	0.04%	Equity World Islamic Investing	947
State Street SPDR MSCI World Materials UCITS ETF USD	0.79%	Equity World Basic Materials	165
Xtrackers FTSE All-World UCITS ETF 1C	0.02%	Equity World	44
JPMorgan Global Research Enhanced Index Equity Active UCITS ETF USD (acc)	0.02%	Equity World Social/Environmental	5,577
Invesco FTSE All-World UCITS ETF Dist	0.02%	Equity World	264
UBS MSCI World ex USA Climate Paris Aligned UCITS ETF USD acc	0.18%	Equity World Social/Environmental Climate Change	54
UBS Solactive US Listed Gold & Silver Miners UCITS ETF USD acc	8.22%	Equity World Basic Materials Social/Environmental	98
iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)	0.08%	Equity World Momentum	4,929
BNP Paribas Easy MSCI World Min TE UCITS ETF EUR Hedged Acc	0.03%	Equity World Social/Environmental	106
iShares Moderate Portfolio UCITS ETF USD Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	7
Xtrackers MSCI World UCITS ETF 2D - GBP Hedged	0.02%	Equity World	445
Amundi Prime Global UCITS ETF Dist	0.02%	Equity World	1,579
iShares Core MSCI World UCITS ETF USD (Acc)	0.03%	Equity World	123,901
Xtrackers MSCI World UCITS ETF 1C	0.02%	Equity World	19,741
Xtrackers MSCI World Materials UCITS ETF 1C	0.68%	Equity World Basic Materials	650
iShares MSCI World GBP Hedged UCITS ETF (Acc)	0.03%	Equity World	539
UBS Climate Aware Global Developed Equity CTB UCITS ETF USD acc	0.02%	Equity World Social/Environmental Climate Change	17
iShares World Equity Enhanced Active UCITS ETF USD (Acc)	0.02%	Equity World Social/Environmental Multi-Asset Strategy	1,822
iShares Growth Portfolio UCITS ETF EUR (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	99
iShares Conservative Portfolio UCITS ETF GBP Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	3
Vanguard ESG North America All Cap UCITS ETF (USD) Accumulating	0.04%	Equity North America Social/Environmental	246
State Street SPDR MSCI World UCITS ETF EUR Hedged (Acc)	0.03%	Equity World	798
Amundi MSCI World ESG Broad Transition UCITS ETF Acc	0.01%	Equity World Social/Environmental Climate Change	1,036
Amundi Core MSCI World UCITS ETF EUR Hedged Acc	0.03%	Equity World	60
Amundi Prime All Country World UCITS ETF Dist	0.02%	Equity World	4,532
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF USD (dist)	0.02%	Equity World Social/Environmental	59
Vanguard FTSE All-World UCITS ETF (USD) Distributing	0.02%	Equity World	22,662
VanEck S&P Global Mining UCITS ETF A	1.10%	Equity World Basic Materials	1,685
Xtrackers World Biodiversity Focus SRI UCITS ETF 1C	0.04%	Equity World Social/Environmental	17
iShares MSCI World Screened UCITS ETF GBP Hedged (Dist)	0.03%	Equity World Social/Environmental	98
UBS MSCI ACWI Universal UCITS ETF hUSD acc	0.02%	Equity World Social/Environmental	1,294
BNP Paribas Easy ESG Enhanced World UCITS ETF USD Acc	0.00%	Equity World Social/Environmental	16
Amundi MSCI North America ESG Broad Transition UCITS ETF Dist	0.01%	Equity North America Social/Environmental Climate Change	40
State Street SPDR MSCI All Country World UCITS ETF USD Unhedged (Acc)	0.03%	Equity World	14,239
iShares Growth Portfolio UCITS ETF USD Hedged (Acc)	0.00%	Equity World Social/Environmental Multi-Asset Strategy	2
Xtrackers MSCI World Momentum UCITS ETF 1C	0.06%	Equity World Momentum	1,952
UBS MSCI Canada UCITS ETF hEUR acc	0.78%	Equity Canada	163
UBS MSCI Canada UCITS ETF CAD dis	0.78%	Equity Canada	747
HSBC MSCI World Islamic Screened UCITS ETF USD (Acc)	0.07%	Equity World Social/Environmental Islamic Investing	108
BNP Paribas Easy MSCI World ex USA UCITS ETF EUR Acc	0.09%	Equity World	2
JPMorgan Global Equity Multi-Factor UCITS ETF USD (acc)	0.08%	Equity World Multi-Factor Strategy	237
UBS MSCI World ex Mega Cap UCITS ETF USD acc	0.05%	Equity World	6
Amundi MSCI World Ex USA UCITS ETF Dist	0.09%	Equity World	127
Amundi MSCI World ESG Broad Transition UCITS ETF EUR Hedged (Acc)	0.01%	Equity World Social/Environmental Climate Change	4
Invesco FTSE All-World UCITS ETF CHF PfHdg Acc	0.02%	Equity World	63
iShares MSCI World CTB Enhanced ESG UCITS ETF EUR Hedged (Acc)	0.01%	Equity World Social/Environmental	259
iShares MSCI World CTB Enhanced ESG UCITS ETF USD (Dist)	0.01%	Equity World Social/Environmental	591
Xtrackers MSCI World IMI UCITS ETF 1C Capitalisation	0.02%	Equity World	12
Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating	0.02%	Equity World Social/Environmental	970
Amundi MSCI World Screened UCITS ETF Acc	0.03%	Equity World Social/Environmental	1,518
HSBC MSCI Canada UCITS ETF USD	0.80%	Equity Canada	354
iShares MSCI Canada UCITS ETF (Acc)	0.79%	Equity Canada	2,078
iShares MSCI World ex-USA UCITS ETF USD (Acc)	0.10%	Equity World	3,008
Amundi MSCI World Ex USA UCITS ETF Acc	0.09%	Equity World	666

Performance

Returns overview

YTD	-10.28%
1 month	-8.63%
3 months	-14.71%
6 months	-5.68%
1 year	+68.29%
3 years	+208.25%
5 years	+71.59%
Since inception (MAX)	+380.97%
2025	+148.08%
2024	+24.19%
2023	-8.14%
2022	-21.19%

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).