Elemental Royalty (ELE)
Market Price (6/22/2026): $16.09 | Market Cap: $1.0 BilSector: Materials | Industry: Precious Metals & Minerals
Elemental Royalty (ELE)
Market Price (6/22/2026): $16.09Market Cap: $1.0 BilSector: MaterialsIndustry: Precious Metals & Minerals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 167% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 71% Megatrend and thematic driversMegatrends include Hydrogen Economy, and Battery Technology & Metals. Themes include Fuel Cell Technology, Green Hydrogen Production, Show more. | Expensive valuation multiplesP/SPrice/Sales ratio is 23x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 150x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x, P/EPrice/Earnings or Price/(Net Income) is 572x Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -87% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 84% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2% Key risksELE key risks include [1] paused royalty payments from key assets due to jurisdictional instability in regions like Africa, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 167% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 71% |
| Megatrend and thematic driversMegatrends include Hydrogen Economy, and Battery Technology & Metals. Themes include Fuel Cell Technology, Green Hydrogen Production, Show more. |
| Expensive valuation multiplesP/SPrice/Sales ratio is 23x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 150x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x, P/EPrice/Earnings or Price/(Net Income) is 572x |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -87% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 84% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2% |
| Key risksELE key risks include [1] paused royalty payments from key assets due to jurisdictional instability in regions like Africa, Show more. |
Qualitative Assessment
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Elemental Royalty (ELE) stock has lost about 35% since 2/28/2026 because of the following key factors:
1. Elemental Royalty Corporation's Q1 2026 Earnings Per Share (EPS) significantly missed analyst expectations, coupled with a substantial decline in net income. The company reported an EPS of US$0.02 for the first fiscal quarter of 2026, falling short of the consensus estimate of US$0.1414 by 85.86%. This earnings miss was accompanied by a 69% decrease in net income from Q1 2025, reaching US$1.08 million, and a sharp reduction in profit margin to 4.5% from 30% in the prior year's fiscal quarter. Higher depletion, increased general and administrative expenses, royalty generation costs, and a US$2.5 million loss on the revaluation of financial instruments contributed to this reduction in profitability.
2. The market reacted cautiously to the acquisition of Vizsla Royalties, citing execution risk. In May 2026, Elemental Royalty announced its plan to acquire Vizsla Royalties for approximately CAD 327 million (US$239 million). While the acquisition was intended to bolster Elemental's long-life royalty exposure to the Panuco silver-gold project, it introduced perceived "execution risk" that "continues to weigh on sentiment" among investors.
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Elemental Royalty (ELE) stock has lost about 35% since 2/28/2026 because of the following key factors:
1. Elemental Royalty Corporation's Q1 2026 Earnings Per Share (EPS) significantly missed analyst expectations, coupled with a substantial decline in net income. The company reported an EPS of US$0.02 for the first fiscal quarter of 2026, falling short of the consensus estimate of US$0.1414 by 85.86%. This earnings miss was accompanied by a 69% decrease in net income from Q1 2025, reaching US$1.08 million, and a sharp reduction in profit margin to 4.5% from 30% in the prior year's fiscal quarter. Higher depletion, increased general and administrative expenses, royalty generation costs, and a US$2.5 million loss on the revaluation of financial instruments contributed to this reduction in profitability.
2. The market reacted cautiously to the acquisition of Vizsla Royalties, citing execution risk. In May 2026, Elemental Royalty announced its plan to acquire Vizsla Royalties for approximately CAD 327 million (US$239 million). While the acquisition was intended to bolster Elemental's long-life royalty exposure to the Panuco silver-gold project, it introduced perceived "execution risk" that "continues to weigh on sentiment" among investors.
3. A broader sector-wide selloff in precious metals negatively impacted Elemental Royalty's stock. As a gold-focused royalty company with over 60% of its revenue derived from precious metals, Elemental Royalty's share price declined in tandem with a general downturn in the precious metals royalty and streaming sector. This sector weakness was characterized by a drop in spot gold prices, which fell approximately 2.4% to below US$4,150 per ounce, and silver, which slid nearly 3% to around US$63.50.
4. Valuation concerns and a history of the stock price lagging earnings growth led to a re-evaluation by the market. Elemental Royalty's valuation was noted as potentially "overvalued," with an exceptionally high P/E ratio of 1424.29x. Furthermore, the company's share price had, on average over the last three years, increased by only 29% annually, significantly underperforming its 128% average annual earnings per share growth over the same period, suggesting that the market was recalibrating its expectations for the stock's intrinsic value.
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Stock Movement Drivers
Fundamental Drivers
The -32.7% change in ELE stock from 2/28/2026 to 6/21/2026 was primarily driven by a -73.7% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.59 | 15.88 | -32.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33 | 44 | 31.8% |
| Net Income Margin (%) | 15.4% | 4.1% | -73.7% |
| P/E Multiple | 113.5 | 572.0 | 404.1% |
| Shares Outstanding (Mil) | 25 | 64 | -61.4% |
| Cumulative Contribution | -32.7% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| ELE | -32.7% | |
| Market (SPY) | 9.2% | 59.5% |
| Sector (XLB) | -2.6% | 61.9% |
Fundamental Drivers
The 11.2% change in ELE stock from 11/30/2025 to 6/21/2026 was primarily driven by a 732.9% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.27 | 15.88 | 11.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33 | 44 | 31.8% |
| Net Income Margin (%) | 15.4% | 4.1% | -73.7% |
| P/E Multiple | 68.7 | 572.0 | 732.9% |
| Shares Outstanding (Mil) | 25 | 64 | -61.4% |
| Cumulative Contribution | 11.2% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| ELE | 11.2% | |
| Market (SPY) | 9.9% | 44.7% |
| Sector (XLB) | 17.0% | 51.3% |
Fundamental Drivers
The 50.1% change in ELE stock from 5/31/2025 to 6/21/2026 was primarily driven by a 801.4% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.58 | 15.88 | 50.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 25 | 44 | 77.2% |
| Net Income Margin (%) | 16.6% | 4.1% | -75.6% |
| P/E Multiple | 63.5 | 572.0 | 801.4% |
| Shares Outstanding (Mil) | 25 | 64 | -61.5% |
| Cumulative Contribution | 50.1% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| ELE | 50.1% | |
| Market (SPY) | 28.1% | 30.7% |
| Sector (XLB) | 22.4% | 41.4% |
Fundamental Drivers
The 78.7% change in ELE stock from 5/31/2023 to 6/21/2026 was primarily driven by a 325.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.88 | 15.88 | 78.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10 | 44 | 325.8% |
| P/S Multiple | 15.7 | 23.2 | 47.6% |
| Shares Outstanding (Mil) | 18 | 64 | -71.6% |
| Cumulative Contribution | 78.7% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| ELE | 78.7% | |
| Market (SPY) | 85.7% | 17.8% |
| Sector (XLB) | 46.5% | 27.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ELE Return | -3% | -25% | -15% | -4% | 114% | -2% | 24% |
| Peers Return | -9% | 0% | -6% | 8% | 116% | 0% | 101% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| ELE Win Rate | 50% | 25% | 33% | 33% | 83% | 50% | |
| Peers Win Rate | 48% | 51% | 40% | 52% | 75% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ELE Max Drawdown | -30% | -41% | -28% | -23% | -34% | -41% | |
| Peers Max Drawdown | -32% | -41% | -37% | -21% | -21% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FNV, RGLD, OR, TFPM, MTA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | ELE | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.7% | -9.5% |
| % Gain to Breakeven | 15.9% | 10.5% |
| Time to Breakeven | 214 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -15.8% | -6.7% |
| % Gain to Breakeven | 18.8% | 7.1% |
| Time to Breakeven | 651 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.8% | -24.5% |
| % Gain to Breakeven | 63.3% | 32.4% |
| Time to Breakeven | 998 days | 427 days |
In The Past
Elemental Royalty's stock fell 0.0% during the 2025 US Tariff Shock. Such a loss loss requires a 0.0% gain to breakeven.
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| Event | ELE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.8% | -24.5% |
| % Gain to Breakeven | 63.3% | 32.4% |
| Time to Breakeven | 998 days | 427 days |
In The Past
Elemental Royalty's stock fell 0.0% during the 2025 US Tariff Shock. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Elemental Royalty (ELE)
Elemental Royalty Corporation (ELE) is a company operating in the mining finance sector, specializing in precious metal royalties. Its core business involves acquiring and generating royalty interests on various mining projects. This business model means that instead of directly engaging in mining operations, ELE earns a percentage of the revenue, production, or profits from mines that are operated by other companies. This approach allows ELE to gain exposure to the upside potential of metal prices and production without incurring the high capital expenditures and operational risks typically associated with directly running a mine.
The company's primary "products" are its diversified portfolio of royalties, which cover projects focused on key metals such as gold, silver, and copper. These royalties represent streams of future revenue or production from these metal projects. Elemental Royalty serves investors by offering a way to invest in these commodities through a royalty model, which can provide leverage to metal prices and production growth from the underlying mines. The company maintains a broad international presence, with its royalty interests spanning major mining regions across North America, South America, Australia, and Africa.
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Here are a few brief analogies for Elemental Royalty (ELE):
- It's like McDonald's for the mining industry; they don't dig for gold or silver themselves, but they collect a percentage (a royalty) from many different mines around the world.
- Imagine a real estate investment trust (REIT), but for mining projects; they invest in and own rights to a stream of revenue from mines globally, rather than owning physical properties and collecting rent.
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- Precious Metal Royalties: The company acquires and generates financial interests in the production or revenue of mining projects primarily involving gold, silver, and copper.
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Elemental Royalty Corporation (ELE) operates as a precious metal royalty company. Its business model involves acquiring and generating royalties on gold, silver, and copper projects.
In this type of business model, Elemental Royalty Corporation does not have "customers" in the traditional sense of companies or individuals purchasing products or services from them.
Instead, Elemental Royalty Corporation generates its revenue by receiving royalty payments from the mining companies that operate the underlying mineral properties on which ELE holds a royalty interest. These payments are typically a percentage of the production, revenue, or net smelter returns from the mines.
Therefore, Elemental Royalty Corporation does not sell goods or services to other companies or individuals, and as such, it does not have major customers to identify.
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David Cole brings over two decades of leadership experience, having been the co-founder and long-time Chief Executive Officer of EMX Royalty Corp.. Under his leadership, EMX grew from a single-asset explorer into a globally diversified royalty company with over 250 mineral assets across six continents. He also co-founded Standard Uranium Corp. and served as a director of Energy Metals Corporation, which was subsequently acquired for US$1.8 billion. Furthermore, Mr. Cole chaired IG Copper, overseeing the sale of the Malmyzh copper-gold discovery for US$200 million. Prior to his time at EMX, he spent 17 years in senior technical and management roles with Newmont Mining.
Stefan Wenger Chief Financial OfficerStefan Wenger is a senior executive with over 25 years of experience in various leadership roles. He served as Chief Financial Officer and Treasurer of Royal Gold, Inc., a publicly traded company specializing in precious metals streams and royalties, from July 2003 to June 2018. During his tenure at Royal Gold, Mr. Wenger led the company in raising over $2 billion in equity and debt capital markets and managed a $1 billion revolving credit facility. He began his career as an auditor with Arthur Andersen.
Juan Sartori Executive ChairmanJuan Sartori is the Chairman and founder of Union Group International Holdings, a privately owned investment and private equity management firm that focuses on sectors such as agriculture, energy, forestry, infrastructure, and real estate in Latin America. He established Union Group in 2007. Mr. Sartori also launched Union Capital Group, a Geneva-based multi-strategy asset manager, in 2002, selling its control in 2008. He has served as non-executive Chairman for Union Acquisition Corp. II (2018-2021) and Union Acquisition Corp., which merged with Bioceres Crop Solutions in 2019.
Frederick Bell President & Chief Operating OfficerFrederick Bell co-founded Elemental Royalties as a private company in 2016 and guided it through its listing in 2020, followed by mergers with Altus Strategies PLC in 2022 and EMX Royalty Corp. in 2025. Before Elemental, he was the Managing Director of Goldcrest Resources PLC, a UK-listed gold exploration company, where he assembled a portfolio of gold licenses in northeast Ghana and took the company to an AIM IPO. He also served as General Manager of Resource Star Ltd., an ASX-listed uranium exploration company.
David Baker Chief Investment OfficerDavid Baker has more than 20 years of industry experience. He served as Chief Geologist for EMX Royalty Corp. from 2011 to 2025, managing generative activities across the Americas. Mr. Baker is also a co-founder of Bronco Creek Exploration, a private project generator. His roles have encompassed both commercial and technical responsibilities, including designing and managing generative activities, negotiating property agreements, and assisting in due diligence for royalty acquisitions.
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- Commodity Price Volatility: Elemental Royalty's revenue is directly tied to the market prices of precious metals, primarily gold, silver, and copper. Fluctuations in these commodity prices, influenced by global economic conditions, interest rates, and geopolitical tensions, can significantly impact the company's financial performance. For instance, a decline in gold prices can lead to reduced royalty income.
- Reliance on Third-Party Mining Operations and Counterparty Risk: As a royalty company, Elemental Royalty does not operate mines but instead receives income from projects operated by third parties. This exposes the company to risks associated with the operational performance, exploration success, and financial stability of the underlying mining companies. Delays in project development, production shortfalls, or unforeseen operational challenges at these mines can directly affect Elemental Royalty's cash flow and profitability, as it has limited control over these operations.
- Political Instability and Regulatory Changes: Elemental Royalty holds royalties across diverse international jurisdictions. Mining operations in these regions are susceptible to political instability, changes in government policies, taxation, and environmental regulations. Adverse shifts in the regulatory or political landscape of any country where the company has significant royalty interests could negatively impact the viability and profitability of the underlying mines, thereby reducing Elemental Royalty's expected income.
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Elemental Royalty (ELE) is poised for future revenue growth over the next 2-3 years, driven by several key factors stemming from its diversified portfolio and strategic initiatives.
- Increased Production from Maturing Royalty Assets: A significant driver for Elemental Royalty's future revenue is the ramp-up and commencement of royalty payments from its development-stage projects. Notably, the Chapi Copper Project in Peru achieved its first copper cathode production, with initial royalty payments anticipated in Q1 2026 and a planned ramp-up towards 10,000 tonnes per annum of copper cathode production. Additionally, the Laverton gold royalty in Australia, a recent acquisition, is expected to transition into a producing asset within the next couple of years, contributing long-life gold exposure to the portfolio.
- Strategic Acquisitions of New Royalties and Streams: Elemental Royalty's capacity to acquire new royalty and streaming interests is a core growth strategy. The company recently upsized its revolving credit facility to US$150 million, with a potential for US$200 million including an accordion feature, specifically to support future royalty and streaming transactions. This enhanced financial flexibility positions the company to continue its accretive acquisition strategy and expand its globally diversified asset base.
- Favorable Precious and Base Metal Prices: The company's revenue is directly tied to commodity prices, particularly gold, silver, and copper. Elemental Royalty has a gold-focused portfolio, with approximately 67% of its revenue allocated to precious metals. Sustained strong or rising prices for these commodities, influenced by factors such as geopolitical uncertainty and central bank purchases for gold, directly translate into higher royalty revenues.
- Organic Royalty Generation: Leveraging the combined expertise from its merger with EMX Royalty Corporation, Elemental Royalty focuses on organic growth through royalty generation. This unique approach allows for the creation of low-cost royalties from early-stage exploration, benefiting from the EMX team's strengths in economic geology and entrepreneurial spirit, alongside Elemental Altus's capital markets expertise. This strategy provides a pipeline for future revenue streams beyond outright acquisitions.
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Share Issuance
- In December 2022, Elemental Altus Royalties completed a non-brokered private placement, issuing 3,970,997 shares at C$1.28 per share, generating aggregate gross proceeds of approximately C$5.1 million (approximately US$3.7 million).
- In September 2025, in conjunction with the merger with EMX Royalty, Tether Investments agreed to purchase approximately 75 million Elemental Altus shares at C$1.84 per share, injecting US$100 million into the company.
- In January 2026, Elemental Royalty granted 663,339 stock options exercisable at C$23.48 per share and 155,133 Restricted Share Units (RSUs) which entitle the holder to acquire common shares.
Inbound Investments
- In June 2025, Tether Investments, an affiliate of the Tether Group, acquired a substantial stake of approximately 31.9% of Elemental Altus Royalties' issued and outstanding shares from La Mancha Investments S. à. r.l.
- In September 2025, Tether Investments committed to a US$100 million investment through a concurrent financing to support the merger with EMX Royalty, purchasing approximately 75 million Elemental Altus shares.
- In March 2026, Elemental Royalty amended and upsized its revolving credit facility from US$50 million to US$150 million, with an additional US$50 million accordion feature, providing a potential total capacity of up to US$200 million.
Outbound Investments
- In September 2025, Elemental Altus Royalties merged with EMX Royalty Corporation, with Elemental Altus acquiring all outstanding shares of EMX, forming Elemental Royalty Corporation.
- In September 2025, Elemental Altus entered into an agreement to acquire the Laverton royalty for a total cash consideration of A$80 million (approximately US$52 million), with an initial cash payment of US$2.7 million.
- In April 2025, Elemental Altus acquired the AlphaStream portfolio, which included 3 producing royalties and 21 exploration/development royalties, as well as a royalty on the Mactung tungsten project for US$3.5 million.
Capital Expenditures
- Elemental Royalty's business model focuses on acquiring royalties rather than direct mining operations, so traditional capital expenditures are not a primary focus.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Elemental Royalty Stock Pre-Market (-5.8%): Precious Metals Sector Sell-Off | 03/07/2026 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 32.45 |
| Mkt Cap | 6.4 |
| Rev LTM | 389 |
| Op Inc LTM | 257 |
| FCF LTM | -17 |
| FCF 3Y Avg | 50 |
| CFO LTM | 316 |
| CFO 3Y Avg | 223 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 71.4% |
| Rev Chg 3Y Avg | 36.5% |
| Rev Chg Q | 83.0% |
| QoQ Delta Rev Chg LTM | 17.0% |
| Op Inc Chg LTM | 87.8% |
| Op Inc Chg 3Y Avg | 48.9% |
| Op Mgn LTM | 61.9% |
| Op Mgn 3Y Avg | 54.8% |
| QoQ Delta Op Mgn LTM | 2.5% |
| CFO/Rev LTM | 75.0% |
| CFO/Rev 3Y Avg | 74.3% |
| FCF/Rev LTM | 9.0% |
| FCF/Rev 3Y Avg | 12.2% |
Price Behavior
| Market Price | $15.88 | |
| Market Cap ($ Bil) | 1.0 | |
| First Trading Date | 08/04/2020 | |
| Distance from 52W High | -34.4% | |
| 50 Days | 200 Days | |
| DMA Price | $17.61 | $17.57 |
| DMA Trend | up | down |
| Distance from DMA | -9.8% | -9.6% |
| 3M | 1YR | |
| Volatility | 76.1% | 66.8% |
| Downside Capture | 472.40 | 204.25 |
| Upside Capture | 230.01 | 172.30 |
| Correlation (SPY) | 68.0% | 33.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 5.12 | 4.04 | 3.16 | 2.41 | 1.49 | 0.52 |
| Up Beta | 4.38 | 2.65 | 3.50 | 3.06 | 1.97 | 0.50 |
| Down Beta | 8.66 | 9.36 | 0.90 | 2.29 | 0.51 | 0.23 |
| Up Capture | 329% | 208% | 284% | 294% | 258% | 46% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 19 | 29 | 67 | 131 | 366 |
| Down Capture | 640% | 775% | 382% | 187% | 140% | 84% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 21 | 33 | 56 | 112 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELE | |
|---|---|---|---|---|
| ELE | 29.8% | 66.4% | 0.66 | - |
| Sector ETF (XLB) | 21.2% | 17.5% | 0.94 | 43.3% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 33.4% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 59.0% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | 7.5% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 21.9% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 26.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELE | |
|---|---|---|---|---|
| ELE | 9.6% | 47.8% | 0.36 | - |
| Sector ETF (XLB) | 5.9% | 19.0% | 0.20 | 23.2% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 14.2% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 40.9% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 14.6% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 11.6% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 9.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELE | |
|---|---|---|---|---|
| ELE | 3.7% | 50.7% | 0.31 | - |
| Sector ETF (XLB) | 10.2% | 20.7% | 0.44 | 23.6% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 16.5% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 36.7% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 14.5% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 13.9% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 12.2% |
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Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/24/2026 | Annual |
| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/24/2026 | Annual |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.