AJG vs. MA

Last updated Jun 9, 2026

AJG (Arthur J. Gallagher & Co.) and MA (Mastercard Incorporated) are both stocks. Both are in the Financial Services sector — AJG in Insurance Brokers, MA in Credit Services. Over the past 10 years, AJG returned 17.92%/yr vs 18.40%/yr for MA. At a 0.46 correlation, their price movements are largely independent.

Performance

AJG vs. MA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arthur J. Gallagher & Co. (AJG) and Mastercard Incorporated (MA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AJG achieves a -17.35% return, which is significantly lower than MA's -14.65% return. Both investments have delivered pretty close results over the past 10 years, with AJG having a 17.92% annualized return and MA not far ahead at 18.40%.

AJG

• 1D: -1.67%
• 1M: 7.22%
• YTD: -17.35%
• 6M: -10.08%
• 1Y: -34.63%
• 3Y*: 1.87%
• 5Y*: 9.17%
• 10Y*: 17.92%

MA

• 1D: -1.10%
• 1M: -1.98%
• YTD: -14.65%
• 6M: -9.84%
• 1Y: -17.21%
• 3Y*: 10.21%
• 5Y*: 6.59%
• 10Y*: 18.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AJG vs. MA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AJG Arthur J. Gallagher & Co.	-17.35%	-8.03%	27.34%	20.51%	12.44%	39.02%	32.12%	31.79%	19.19%	25.04%
MA Mastercard Incorporated	-14.65%	9.04%	24.17%	23.40%	-2.66%	1.16%	20.19%	59.16%	25.31%	47.69%

Correlation

The correlation between AJG and MA 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	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 25, 2006	0.46

Fundamentals

EPS AJG : $5.74 MA : $17.28
PE Ratio AJG : 37.04 MA : 28.11
PEG Ratio AJG : 3.84 MA : 1.64
PS Ratio AJG : 3.97 MA : 12.90
Total Revenue (TTM) AJG : $13.94B MA : $33.94B
Gross Profit (TTM) AJG : $7.63B MA : $26.70B
EBITDA (TTM) AJG : $3.66B MA : $21.23B

Return for Risk

AJG vs. MA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AJG

AJG Risk / Return Rank: 5
AJG Sharpe Ratio Rank: 2
AJG Sortino Ratio Rank: 4
AJG Omega Ratio Rank: 4
AJG Calmar Ratio Rank: 9
AJG Martin Ratio Rank: 6

MA

MA Risk / Return Rank: 9
MA Sharpe Ratio Rank: 10
MA Sortino Ratio Rank: 12
MA Omega Ratio Rank: 13
MA Calmar Ratio Rank: 10
MA Martin Ratio Rank: 3

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.

AJG vs. MA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arthur J. Gallagher & Co. (AJG) and Mastercard Incorporated (MA). 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.

	AJG	MA	Difference
Sharpe ratio: Return per unit of total volatility	-1.25	-0.78	-0.47
Sortino ratio: Return per unit of downside risk	-1.72	-0.97	-0.75
Omega ratio: Gain probability vs. loss probability	0.78	0.88	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.85	-0.83	-0.03
Martin ratio: Return relative to average drawdown	-1.47	-1.68	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AJG vs. MA - Sharpe Ratio Comparison

The current AJG Sharpe Ratio is -1.25, which is lower than the MA Sharpe Ratio of -0.78. The chart below compares the historical Sharpe Ratios of AJG and MA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AJG	MA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.25	-0.78	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.28	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.69	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.83	-0.36

Drawdowns

AJG vs. MA - Drawdown Comparison

The maximum AJG drawdown since its inception was -57.49%, smaller than the maximum MA drawdown of -62.67%. Use the drawdown chart below to compare losses from any high point for AJG and MA.

Drawdown Indicators

	AJG	MA	Difference
Max Drawdown Largest peak-to-trough decline	-57.49%	-62.67%	+5.18%
Max Drawdown (1Y) Largest decline over 1 year	-40.64%	-20.91%	-19.73%
Max Drawdown (3Y) Largest decline over 3 years	-44.40%	-20.91%	-23.49%
Max Drawdown (5Y) Largest decline over 5 years	-44.40%	-28.25%	-16.15%
Max Drawdown (10Y) Largest decline over 10 years	-44.40%	-41.00%	-3.40%
Current Drawdown Current decline from peak	-38.26%	-18.55%	-19.71%
Average Drawdown Average peak-to-trough decline	-12.83%	-9.82%	-3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.06%	10.26%	+13.80%

Volatility

AJG vs. MA - Volatility Comparison

Arthur J. Gallagher & Co. (AJG) has a higher volatility of 8.97% compared to Mastercard Incorporated (MA) at 6.33%. This indicates that AJG's price experiences larger fluctuations and is considered to be riskier than MA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AJG	MA	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.97%	6.33%	+2.64%
Volatility (6M) Calculated over the trailing 6-month period	22.42%	17.37%	+5.05%
Volatility (1Y) Calculated over the trailing 1-year period	27.95%	22.28%	+5.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.96%	23.99%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.08%	26.93%	-3.85%

Dividends

AJG vs. MA - Dividend Comparison

AJG's dividend yield for the trailing twelve months is around 1.27%, more than MA's 0.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AJG Arthur J. Gallagher & Co.	1.27%	1.00%	0.85%	0.98%	1.08%	1.13%	1.46%	1.81%	2.23%	2.47%	2.93%	3.62%
MA Mastercard Incorporated	0.67%	0.53%	0.50%	0.53%	0.56%	0.49%	0.45%	0.44%	0.53%	0.58%	0.74%	0.66%

Financials

AJG vs. MA - Profitability Comparison

The chart below illustrates the profitability comparison between Arthur J. Gallagher & Co. and Mastercard Incorporated over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AJG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a gross profit of 1.42B and revenue of 3.63B. Therefore, the gross margin over that period was 39.1%.

MA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Mastercard Incorporated reported a gross profit of 4.91B and revenue of 8.40B. Therefore, the gross margin over that period was 58.4%.

AJG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported an operating income of 341.00M and revenue of 3.63B, resulting in an operating margin of 9.4%.

MA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Mastercard Incorporated reported an operating income of 4.91B and revenue of 8.40B, resulting in an operating margin of 58.4%.

AJG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a net income of 151.00M and revenue of 3.63B, resulting in a net margin of 4.2%.

MA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Mastercard Incorporated reported a net income of 3.88B and revenue of 8.40B, resulting in a net margin of 46.2%.

Frequently Asked Questions

Can I hold both AJG and MA in my portfolio?

AJG and MA 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.

Which is riskier, AJG or MA?

AJG has higher volatility (8.97%) compared to MA (6.33%). In terms of maximum drawdown, AJG dropped -57.49% vs MA's -62.67%.

Which has better risk-adjusted returns?

MA currently has the higher Sharpe Ratio (-0.78 vs -1.25), 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.