AFG vs. MFC
AFG (American Financial Group, Inc.) and MFC (Manulife Financial Corporation) are both stocks. Both are in the Financial Services sector — AFG in Insurance - Property & Casualty, MFC in Insurance - Life. Over the past 10 years, AFG returned 14.79%/yr vs 16.97%/yr for MFC. At a 0.44 correlation, their price movements are largely independent.
Performance
AFG vs. MFC - Performance Comparison
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Returns By Period
In the year-to-date period, AFG achieves a 1.05% return, which is significantly lower than MFC's 13.34% return. Over the past 10 years, AFG has underperformed MFC with an annualized return of 14.79%, while MFC has yielded a comparatively higher 16.97% annualized return.
AFG
- 1D
- 1.07%
- 1M
- -1.46%
- YTD
- 1.05%
- 6M
- 0.12%
- 1Y
- 14.56%
- 3Y*
- 11.52%
- 5Y*
- 10.48%
- 10Y*
- 14.79%
MFC
- 1D
- -0.66%
- 1M
- 5.67%
- YTD
- 13.34%
- 6M
- 12.57%
- 1Y
- 36.70%
- 3Y*
- 36.45%
- 5Y*
- 21.61%
- 10Y*
- 16.97%
AFG vs. MFC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AFG American Financial Group, Inc. | 1.05% | 5.45% | 23.79% | -7.61% | 10.91% | 93.83% | -16.18% | 27.10% | -13.04% | 29.20% |
MFC Manulife Financial Corporation | 13.34% | 22.95% | 45.75% | 31.13% | -1.18% | 12.17% | -7.18% | 49.19% | -29.89% | 22.17% |
Correlation
The correlation between AFG and MFC is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 1999 | 0.44 |
The correlation between AFG and MFC has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
Fundamentals
AFG:
$11.19B
MFC:
$48.72B
AFG:
$10.54
MFC:
CA$4.06
AFG:
12.74
MFC:
14.09
AFG:
1.37
MFC:
1.14
AFG:
2.39
MFC:
1.57
AFG:
$8.15B
MFC:
CA$79.35B
AFG:
$2.64B
MFC:
CA$26.46B
AFG:
$1.26B
MFC:
CA$8.26B
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Return for Risk
AFG vs. MFC — Risk / Return Rank
AFG
MFC
AFG vs. MFC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Financial Group, Inc. (AFG) and Manulife Financial Corporation (MFC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AFG | MFC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.31 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 2.95 | -1.84 |
| Martin ratioReturn relative to average drawdown | 2.06 | 8.44 | -6.38 |
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Drawdowns
AFG vs. MFC - Drawdown Comparison
The maximum AFG drawdown since its inception was -62.94%, smaller than the maximum MFC drawdown of -83.61%. Use the drawdown chart below to compare losses from any high point for AFG and MFC.
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Drawdown Indicators
| AFG | MFC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.94% | -83.61% | +20.67% |
Max Drawdown (1Y)Largest decline over 1 year | -13.19% | -12.49% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -19.85% | -16.75% | -3.10% |
Max Drawdown (5Y)Largest decline over 5 years | -23.85% | -26.99% | +3.14% |
Max Drawdown (10Y)Largest decline over 10 years | -58.98% | -57.44% | -1.54% |
Current DrawdownCurrent decline from peak | -5.21% | -1.90% | -3.31% |
Average DrawdownAverage peak-to-trough decline | -16.74% | -29.37% | +12.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.07% | 4.36% | +2.71% |
Volatility
AFG vs. MFC - Volatility Comparison
American Financial Group, Inc. (AFG) has a higher volatility of 5.02% compared to Manulife Financial Corporation (MFC) at 4.70%. This indicates that AFG's price experiences larger fluctuations and is considered to be riskier than MFC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AFG | MFC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 4.70% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.48% | 16.00% | -3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.20% | 20.63% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.83% | 24.13% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.30% | 28.39% | +1.91% |
Dividends
AFG vs. MFC - Dividend Comparison
AFG's dividend yield for the trailing twelve months is around 5.44%, more than MFC's 3.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFG American Financial Group, Inc. | 5.44% | 5.33% | 6.89% | 6.81% | 10.42% | 20.43% | 4.39% | 4.51% | 4.92% | 4.41% | 2.44% | 2.82% |
MFC Manulife Financial Corporation | 3.31% | 3.45% | 4.16% | 4.86% | 5.71% | 4.91% | 4.70% | 3.71% | 4.08% | 3.93% | 4.15% | 5.38% |
Financials
AFG vs. MFC - Financials Comparison
This section allows you to compare key financial metrics between American Financial Group, Inc. and Manulife Financial Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AFG vs. MFC - Profitability Comparison
AFG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American Financial Group, Inc. reported a gross profit of 948.00M and revenue of 1.85B. Therefore, the gross margin over that period was 51.1%.
MFC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Manulife Financial Corporation reported a gross profit of 12.31B and revenue of 12.31B. Therefore, the gross margin over that period was 100.0%.
AFG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American Financial Group, Inc. reported an operating income of 239.00M and revenue of 1.85B, resulting in an operating margin of 12.9%.
MFC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Manulife Financial Corporation reported an operating income of 1.47B and revenue of 12.31B, resulting in an operating margin of 11.9%.
AFG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American Financial Group, Inc. reported a net income of 191.00M and revenue of 1.85B, resulting in a net margin of 10.3%.
MFC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Manulife Financial Corporation reported a net income of 1.20B and revenue of 12.31B, resulting in a net margin of 9.7%.
Frequently Asked Questions
AFG and MFC have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AFG has higher volatility (5.02%) compared to MFC (4.70%). In terms of maximum drawdown, AFG dropped -62.94% vs MFC's -83.61%.
MFC currently has the higher Sharpe Ratio (1.79 vs 0.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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