Key Points Wheaton Precious Metals focuses on investing in streaming contracts. Franco-Nevada has a much larger and more diversified portfolio and business model. Franco-Nevada's diversification makes it an even lower-risk way to invest in precious metals. 10 stocks we like better than Wheaton Precious Metals › I believe Wheaton Precious Metals (NYSE: WPM) has an ideal business model for the precious metals industry. It holds a growing portfolio of streaming contracts tied to some of the world's ...