AON vs. RY.TO
AON (Aon plc) and RY.TO (Royal Bank of Canada) are both stocks. Both are in the Financial Services sector — AON in Insurance Brokers, RY.TO in Banks - Diversified. Over the past 10 years, AON returned 13.10%/yr vs 17.10%/yr for RY.TO. At a 0.30 correlation, their price movements are largely independent.
Performance
AON vs. RY.TO - Performance Comparison
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Different Trading Currencies
AON is traded in USD, while RY.TO is traded in CAD. To make them comparable, the RY.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AON achieves a -4.52% return, which is significantly lower than RY.TO's 18.35% return. Over the past 10 years, AON has underperformed RY.TO with an annualized return of 13.10%, while RY.TO has yielded a comparatively higher 17.10% annualized return.
AON
- 1D
- 0.04%
- 1M
- 7.85%
- YTD
- -4.52%
- 6M
- -4.77%
- 1Y
- -4.90%
- 3Y*
- 2.54%
- 5Y*
- 6.89%
- 10Y*
- 13.10%
RY.TO
- 1D
- 0.07%
- 1M
- 10.66%
- YTD
- 18.35%
- 6M
- 22.02%
- 1Y
- 60.20%
- 3Y*
- 33.49%
- 5Y*
- 18.07%
- 10Y*
- 17.10%
AON vs. RY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | -4.52% | -0.94% | 24.45% | -2.31% | 0.61% | 43.39% | 2.37% | 44.68% | 9.94% | 21.49% |
RY.TO Royal Bank of Canada | 18.35% | 46.28% | 23.88% | 12.48% | -7.39% | 33.15% | 9.11% | 19.24% | -12.83% | 25.63% |
Correlation
The correlation between AON and RY.TO is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.30 |
Over the past year, the correlation between AON and RY.TO has dropped to 0.02 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.
Fundamentals
AON:
$72.23B
RY.TO:
CA$389.54B
AON:
$18.21
RY.TO:
CA$15.77
AON:
18.41
RY.TO:
17.69
AON:
0.47
RY.TO:
2.60
AON:
4.15
RY.TO:
3.25
AON:
7.34
RY.TO:
3.01
AON:
$17.49B
RY.TO:
CA$120.33B
AON:
$9.77B
RY.TO:
CA$65.64B
AON:
$6.55B
RY.TO:
CA$14.74B
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Return for Risk
AON vs. RY.TO — Risk / Return Rank
AON
RY.TO
AON vs. RY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) and Royal Bank of Canada (RY.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.
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.
| AON | RY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.36 | ||
| Sortino ratioReturn per unit of downside risk | -6.14 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.73 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 6.16 | -6.44 |
| Martin ratioReturn relative to average drawdown | -0.53 | 22.75 | -23.28 |
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Drawdowns
AON vs. RY.TO - Drawdown Comparison
The maximum AON drawdown since its inception was -69.05%, which is greater than RY.TO's maximum drawdown of -63.01%. Use the drawdown chart below to compare losses from any high point for AON and RY.TO.
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Drawdown Indicators
| AON | RY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.05% | -63.01% | -6.04% |
Max Drawdown (1Y)Largest decline over 1 year | -17.28% | -9.82% | -7.46% |
Max Drawdown (3Y)Largest decline over 3 years | -23.84% | -19.58% | -4.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -28.47% | +3.09% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | -39.33% | +0.60% |
Current DrawdownCurrent decline from peak | -17.16% | 0.00% | -17.16% |
Average DrawdownAverage peak-to-trough decline | -13.67% | -9.84% | -3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.29% | 2.65% | +6.64% |
Volatility
AON vs. RY.TO - Volatility Comparison
Aon plc (AON) has a higher volatility of 5.69% compared to Royal Bank of Canada (RY.TO) at 4.33%. This indicates that AON's price experiences larger fluctuations and is considered to be riskier than RY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AON | RY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 4.33% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 19.50% | 10.83% | +8.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.54% | 14.58% | +8.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.11% | 16.55% | +6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.45% | 18.66% | +4.79% |
Dividends
AON vs. RY.TO - Dividend Comparison
AON's dividend yield for the trailing twelve months is around 0.91%, less than RY.TO's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | 0.91% | 0.82% | 0.74% | 0.83% | 0.73% | 0.66% | 0.84% | 0.83% | 1.35% | 1.05% | 1.16% | 1.25% |
RY.TO Royal Bank of Canada | 2.28% | 2.58% | 3.23% | 3.99% | 3.90% | 3.22% | 4.10% | 3.96% | 4.03% | 3.39% | 3.57% | 4.15% |
Financials
AON vs. RY.TO - Financials Comparison
This section allows you to compare key financial metrics between Aon plc and Royal Bank of Canada. 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
AON vs. RY.TO - Profitability Comparison
AON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aon plc reported a gross profit of 2.64B and revenue of 5.03B. Therefore, the gross margin over that period was 52.5%.
RY.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a gross profit of 16.52B and revenue of 33.95B. Therefore, the gross margin over that period was 48.7%.
AON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aon plc reported an operating income of 1.72B and revenue of 5.03B, resulting in an operating margin of 34.1%.
RY.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported an operating income of 7.10B and revenue of 33.95B, resulting in an operating margin of 20.9%.
AON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aon plc reported a net income of 1.21B and revenue of 5.03B, resulting in a net margin of 24.1%.
RY.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a net income of 5.51B and revenue of 33.95B, resulting in a net margin of 16.2%.
Frequently Asked Questions
AON and RY.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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