Are you invested in the big three mining shares, BHP Group Ltd (ASX: BHP), Fortescue Ltd (ASX: FMG), or Rio Tinto Ltd (ASX: RIO)?
If so, you'll be aware that FY25 was a challenging one for the major miners, particularly given the volatility of the iron ore price.
Ultimately, the iron ore price fell over the year amid China's ongoing economic slowdown and weak property market.
The iron ore price is now trading at around a nine month low. At about US$95 per tonne, the iron ore price is down about 13% year-over-year.
While BHP and Rio Tinto are diversified and sell more commodities than just iron ore, it's still the dominant product for all three miners.
(BHP has made a big investment in copper in recent years, while Rio Tinto has leaned into copper and lithium opportunities.)
Fluctuations in the iron ore price worried investors in FY25 and weighed on the share prices of BHP, Fortescue, and Rio Tinto.
Which miner provided the best returns in FY25?
On share price movement, Rio Tinto shares win.
There is no good news on share price growth for BHP, Fortescue, and Rio Tinto in FY25.
All three mega mining stocks lost value, dragging down the entire S&P/ASX 200 Materials Index (ASX: XMJ), which fell 6% overall in FY25.
So, our FY25 contest comes down to which ASX 200 mining major held up best.
As the chart below shows, Rio Tinto shares did better than BHP and Fortescue in FY25.
The Rio Tinto share price fell 10% from its closing value of $119 on the last trading day of FY24 to $107.13 at the close on 30 June 2025.
The BHP share price tumbled 14% from $42.68 per share on 28 June 2024 to $36.75 per share on 30 June 2025.
The Fortescue share price tanked 29%, deteriorating from $21.41 per share on 28 June 2024 to finish FY25 at $15.28.
On dividends, Fortescue shares win
Rio Tinto reports on a calendar year basis while BHP and Fortescue report on an Australian financial year basis.
Over the FY25 period, Rio Tinto paid an interim dividend of $2.6170 per share in September 2024.
It then paid a final dividend of $3.7132 per share in April 2025.
That's a total of $6.33 in dividends, plus full franking credits.
BHP shares paid a final dividend of $1.1099 per share in October and an interim dividend of 79.0935 cents per share in March 2025.
This totalled $1.90 in annual dividends with 100% franking.
Fortescue shares paid a final dividend of 89 cents per share in September 2024.
It then paid an interim dividend of 50 cents per share in March 2025.
So, investors in the ASX iron ore pure-play share received $1.39 in annual dividends with 100% franking.
So, in dollar value terms, Rio Tinto shares win.
But this is pretty meaningless. Comparing trailing dividend yields is a better way to assess which ASX 200 mining share did best for us.
Using the closing 30 June share prices to calculate the annual trailing dividend yields, Fortescue shares win.
Fortescue shares have a 9.1% trailing dividend.
Rio Tinto shares have a 5.9% trailing dividend.
BHP shares have a 5.2% trailing dividend.
What's next?
Looking ahead, it would be wise not to rely on those trailing dividend yields to make investment decisions.
The Australian Government has recently lowered its export earnings projections due to lower anticipated iron ore prices.
For more details, check out the latest Resources and Energy Quarterly Report.
The post Did BHP, Rio Tinto, or Fortescue shares deliver the best returns in FY25? appeared first on The Motley Fool Australia.
Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2025