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AGF-B.TO vs. GRT-UN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends
Financials

AGF-B.TO vs. GRT-UN.TO

Last updated Jun 10, 2026

AGF-B.TO (AGF Management Ltd) and GRT-UN.TO (Granite Real Estate Investment Trust) are both stocks. AGF-B.TO operates in Asset Management (Financial Services), while GRT-UN.TO operates in REIT - Industrial (Real Estate). Over the past 10 years, AGF-B.TO returned 19.54%/yr vs 14.48%/yr for GRT-UN.TO. At a 0.18 correlation, their price movements are largely independent.

Performance

AGF-B.TO vs. GRT-UN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in AGF Management Ltd (AGF-B.TO) and Granite Real Estate Investment Trust (GRT-UN.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AGF-B.TO achieves a 11.62% return, which is significantly lower than GRT-UN.TO's 19.72% return. Over the past 10 years, AGF-B.TO has outperformed GRT-UN.TO with an annualized return of 19.54%, while GRT-UN.TO has yielded a comparatively lower 14.48% annualized return.

AGF-B.TO

1D
-0.06%
1M
2.94%
YTD
11.62%
6M
19.55%
1Y
53.34%
3Y*
40.76%
5Y*
24.44%
10Y*
19.54%

GRT-UN.TO

1D
0.22%
1M
3.25%
YTD
19.72%
6M
28.31%
1Y
41.14%
3Y*
9.94%
5Y*
7.55%
10Y*
14.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AGF-B.TO vs. GRT-UN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AGF-B.TO
AGF Management Ltd		11.62%59.26%45.89%15.54%-10.40%43.95%1.07%41.60%-38.19%36.77%
GRT-UN.TO
Granite Real Estate Investment Trust		19.72%22.80%-4.30%15.18%-31.88%40.16%22.56%29.65%14.45%15.87%

Correlation

The correlation between AGF-B.TO and GRT-UN.TO is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.09

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.24

Correlation (10Y)
Calculated over the trailing 10-year period

0.20

Correlation (All Time)
Calculated using the full available price history since Jul 7, 2006

0.18

The correlation between AGF-B.TO and GRT-UN.TO shifts across timeframes, from 0.09 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap

AGF-B.TO:

CA$1.18B

GRT-UN.TO:

CA$5.83B

EPS

AGF-B.TO:

CA$1.73

GRT-UN.TO:

CA$6.39

PE Ratio

AGF-B.TO:

10.35

GRT-UN.TO:

15.07

PEG Ratio

AGF-B.TO:

0.27

GRT-UN.TO:

0.93

PS Ratio

AGF-B.TO:

2.13

GRT-UN.TO:

9.32

PB Ratio

AGF-B.TO:

0.98

GRT-UN.TO:

1.04

Total Revenue (TTM)

AGF-B.TO:

CA$561.40M

GRT-UN.TO:

CA$629.87M

Gross Profit (TTM)

AGF-B.TO:

CA$342.49M

GRT-UN.TO:

CA$517.51M

EBITDA (TTM)

AGF-B.TO:

CA$163.56M

GRT-UN.TO:

CA$513.85M

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AGF Management Ltd

Granite Real Estate Investment Trust

Often compared with AGF-B.TO:
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Often compared with GRT-UN.TO:
GRT-UN.TO vs. DIR-UN.TOGRT-UN.TO vs. CRT-UN.TOGRT-UN.TO vs. IIP-UN.TOGRT-UN.TO vs. NWH-UN.TOGRT-UN.TO vs. BEI-UN.TOGRT-UN.TO vs. KMP-UN.TOGRT-UN.TO vs. VGT

Return for Risk

AGF-B.TO vs. GRT-UN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AGF-B.TO
AGF-B.TO Risk / Return Rank: 8181
Overall Rank
AGF-B.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
AGF-B.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
AGF-B.TO Omega Ratio Rank: 8383
Omega Ratio Rank
AGF-B.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
AGF-B.TO Martin Ratio Rank: 8080
Martin Ratio Rank
GRT-UN.TO
GRT-UN.TO Risk / Return Rank: 8888
Overall Rank
GRT-UN.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
GRT-UN.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
GRT-UN.TO Omega Ratio Rank: 8888
Omega Ratio Rank
GRT-UN.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
GRT-UN.TO Martin Ratio Rank: 8989
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGF-B.TO vs. GRT-UN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AGF Management Ltd (AGF-B.TO) and Granite Real Estate Investment Trust (GRT-UN.TO). 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.

AGF-B.TOGRT-UN.TODifference
Sharpe ratioReturn per unit of total volatility
1.63
2.15

-0.52

Sortino ratioReturn per unit of downside risk
2.06
2.89

-0.83

Omega ratioGain probability vs. loss probability

1.32

1.37

-0.05

Calmar ratioReturn relative to maximum drawdown

2.10

3.20

-1.11

Martin ratioReturn relative to average drawdown

6.03

10.28

-4.26

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGF-B.TO vs. GRT-UN.TO - Sharpe Ratio Comparison

The current AGF-B.TO Sharpe Ratio is 1.63, which is comparable to the GRT-UN.TO Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of AGF-B.TO and GRT-UN.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

AGF-B.TOGRT-UN.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.63

2.15

-0.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

0.35

+0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.65

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.15

0.33

-0.19

Drawdowns

AGF-B.TO vs. GRT-UN.TO - Drawdown Comparison

The maximum AGF-B.TO drawdown since its inception was -85.07%, roughly equal to the maximum GRT-UN.TO drawdown of -87.48%. Use the drawdown chart below to compare losses from any high point for AGF-B.TO and GRT-UN.TO.

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Drawdown Indicators

AGF-B.TOGRT-UN.TODifference

Max Drawdown

Largest peak-to-trough decline

-85.07%

-87.48%

+2.41%

Max Drawdown (1Y)

Largest decline over 1 year

-25.57%

-12.91%

-12.66%

Max Drawdown (3Y)

Largest decline over 3 years

-25.57%

-27.99%

+2.42%

Max Drawdown (5Y)

Largest decline over 5 years

-29.90%

-37.82%

+7.92%

Max Drawdown (10Y)

Largest decline over 10 years

-65.63%

-44.89%

-20.74%

Current Drawdown

Current decline from peak

-13.00%

-0.77%

-12.23%

Average Drawdown

Average peak-to-trough decline

-49.83%

-16.98%

-32.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.88%

4.01%

+4.87%

Volatility

AGF-B.TO vs. GRT-UN.TO - Volatility Comparison

AGF Management Ltd (AGF-B.TO) has a higher volatility of 6.99% compared to Granite Real Estate Investment Trust (GRT-UN.TO) at 5.88%. This indicates that AGF-B.TO's price experiences larger fluctuations and is considered to be riskier than GRT-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AGF-B.TOGRT-UN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.99%

5.88%

+1.11%

Volatility (6M)

Calculated over the trailing 6-month period

27.20%

14.87%

+12.33%

Volatility (1Y)

Calculated over the trailing 1-year period

32.86%

19.25%

+13.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.24%

21.88%

+7.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.84%

22.44%

+10.40%

Dividends

AGF-B.TO vs. GRT-UN.TO - Dividend Comparison

AGF-B.TO's dividend yield for the trailing twelve months is around 2.85%, less than GRT-UN.TO's 3.61% yield.

PositionTTM20252024202320222021202020192018201720162015
AGF-B.TO
AGF Management Ltd		2.85%3.01%4.26%5.58%5.52%4.07%5.26%4.97%6.64%3.91%3.83%11.35%
GRT-UN.TO
Granite Real Estate Investment Trust		3.61%4.18%4.74%4.21%4.50%2.86%3.43%4.25%5.69%5.31%5.42%1.62%

Financials

AGF-B.TO vs. GRT-UN.TO - Financials Comparison

This section allows you to compare key financial metrics between AGF Management Ltd and Granite Real Estate Investment Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.

Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities

100.00M120.00M140.00M160.00MJulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober2025AprilJulyOctober2026
143.70M
165.83M
(AGF-B.TO) Total Revenue
(GRT-UN.TO) Total Revenue
Values in CAD except per share items

AGF-B.TO vs. GRT-UN.TO - Profitability Comparison

The chart below illustrates the profitability comparison between AGF Management Ltd and Granite Real Estate Investment Trust over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.
Gross Margin
Operating Margin
Net Margin
Quarterly
Annual
20.0%40.0%60.0%80.0%100.0%JulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober2025AprilJulyOctober2026
50.9%
81.0%
Portfolio components
AGF-B.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AGF Management Ltd reported a gross profit of 73.16M and revenue of 143.70M. Therefore, the gross margin over that period was 50.9%.

GRT-UN.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported a gross profit of 134.27M and revenue of 165.83M. Therefore, the gross margin over that period was 81.0%.

AGF-B.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AGF Management Ltd reported an operating income of 33.41M and revenue of 143.70M, resulting in an operating margin of 23.3%.

GRT-UN.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported an operating income of 122.29M and revenue of 165.83M, resulting in an operating margin of 73.7%.

AGF-B.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AGF Management Ltd reported a net income of 18.04M and revenue of 143.70M, resulting in a net margin of 12.6%.

GRT-UN.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported a net income of 91.25M and revenue of 165.83M, resulting in a net margin of 55.0%.

Frequently Asked Questions

AGF-B.TO and GRT-UN.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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