AQN.TO vs. BEP-UN.TO

Last updated Jun 4, 2026

AQN.TO (Algonquin Power & Utilities Corp.) and BEP-UN.TO (Brookfield Renewable Partners L.P) are both stocks. Both operate in the Utilities - Renewable industry within the Utilities sector. Over the past 10 years, AQN.TO returned 1.60%/yr vs 16.22%/yr for BEP-UN.TO. At a 0.26 correlation, their price movements are largely independent.

Performance

AQN.TO vs. BEP-UN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Algonquin Power & Utilities Corp. (AQN.TO) and Brookfield Renewable Partners L.P (BEP-UN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQN.TO achieves a -3.01% return, which is significantly lower than BEP-UN.TO's 39.76% return. Over the past 10 years, AQN.TO has underperformed BEP-UN.TO with an annualized return of 1.60%, while BEP-UN.TO has yielded a comparatively higher 16.22% annualized return.

AQN.TO

• 1D: -1.10%
• 1M: -4.93%
• YTD: -3.01%
• 6M: 0.15%
• 1Y: -0.82%
• 3Y*: -5.49%
• 5Y*: -10.28%
• 10Y*: 1.60%

BEP-UN.TO

• 1D: -0.78%
• 1M: 14.90%
• YTD: 39.76%
• 6M: 33.47%
• 1Y: 57.80%
• 3Y*: 12.37%
• 5Y*: 6.53%
• 10Y*: 16.22%

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

AQN.TO vs. BEP-UN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQN.TO Algonquin Power & Utilities Corp.	-3.01%	38.63%	-17.99%	0.64%	-48.34%	-8.03%	19.16%	39.68%	2.71%	29.07%
BEP-UN.TO Brookfield Renewable Partners L.P	39.76%	20.19%	-0.39%	6.87%	-21.24%	-14.69%	79.29%	84.02%	-12.10%	18.79%

Correlation

The correlation between AQN.TO and BEP-UN.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Nov 22, 2000	0.26

The correlation between AQN.TO and BEP-UN.TO shifts across timeframes, from 0.20 (1 year) to 0.39 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AQN.TO : CA$6.26B BEP-UN.TO : CA$15.36B
EPS AQN.TO : CA$0.22 BEP-UN.TO : CA$0.66
PE Ratio AQN.TO : 37.04 BEP-UN.TO : 76.63
PEG Ratio AQN.TO : 0.17 BEP-UN.TO : 0.55
PS Ratio AQN.TO : 2.49 BEP-UN.TO : 2.31
PB Ratio AQN.TO : 1.40 BEP-UN.TO : 4.15
Total Revenue (TTM) AQN.TO : CA$2.52B BEP-UN.TO : CA$6.37B
Gross Profit (TTM) AQN.TO : CA$924.77M BEP-UN.TO : CA$2.19B
EBITDA (TTM) AQN.TO : CA$928.99M BEP-UN.TO : CA$4.69B

Return for Risk

AQN.TO vs. BEP-UN.TO — Risk / Return Rank

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

AQN.TO

AQN.TO Risk / Return Rank: 36
AQN.TO Sharpe Ratio Rank: 39
AQN.TO Sortino Ratio Rank: 32
AQN.TO Omega Ratio Rank: 33
AQN.TO Calmar Ratio Rank: 38
AQN.TO Martin Ratio Rank: 38

BEP-UN.TO

BEP-UN.TO Risk / Return Rank: 85
BEP-UN.TO Sharpe Ratio Rank: 88
BEP-UN.TO Sortino Ratio Rank: 85
BEP-UN.TO Omega Ratio Rank: 84
BEP-UN.TO Calmar Ratio Rank: 86
BEP-UN.TO Martin Ratio Rank: 84

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.

AQN.TO vs. BEP-UN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Algonquin Power & Utilities Corp. (AQN.TO) and Brookfield Renewable Partners L.P (BEP-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.

	AQN.TO	BEP-UN.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	2.02	-2.06
Sortino ratio: Return per unit of downside risk	0.12	2.74	-2.62
Omega ratio: Gain probability vs. loss probability	1.02	1.35	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.05	3.66	-3.71
Martin ratio: Return relative to average drawdown	-0.13	8.55	-8.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AQN.TO vs. BEP-UN.TO - Sharpe Ratio Comparison

The current AQN.TO Sharpe Ratio is -0.03, which is lower than the BEP-UN.TO Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of AQN.TO and BEP-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.

Sharpe Ratios by Period

	AQN.TO	BEP-UN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.03	2.02	-2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.22	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	0.57	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.73	-0.46

Drawdowns

AQN.TO vs. BEP-UN.TO - Drawdown Comparison

The maximum AQN.TO drawdown since its inception was -78.55%, which is greater than BEP-UN.TO's maximum drawdown of -50.29%. Use the drawdown chart below to compare losses from any high point for AQN.TO and BEP-UN.TO.

Drawdown Indicators

	AQN.TO	BEP-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.55%	-50.29%	-28.26%
Max Drawdown (1Y) Largest decline over 1 year	-15.89%	-15.87%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-41.24%	-33.85%	-7.39%
Max Drawdown (5Y) Largest decline over 5 years	-63.36%	-42.96%	-20.40%
Max Drawdown (10Y) Largest decline over 10 years	-65.21%	-50.29%	-14.92%
Current Drawdown Current decline from peak	-51.00%	-0.82%	-50.18%
Average Drawdown Average peak-to-trough decline	-16.81%	-9.90%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.11%	6.79%	+0.32%

Volatility

AQN.TO vs. BEP-UN.TO - Volatility Comparison

The current volatility for Algonquin Power & Utilities Corp. (AQN.TO) is 5.26%, while Brookfield Renewable Partners L.P (BEP-UN.TO) has a volatility of 7.35%. This indicates that AQN.TO experiences smaller price fluctuations and is considered to be less risky than BEP-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQN.TO	BEP-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	7.35%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	18.45%	19.37%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	28.58%	28.95%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.63%	29.53%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.92%	28.59%	-2.67%

Dividends

AQN.TO vs. BEP-UN.TO - Dividend Comparison

AQN.TO's dividend yield for the trailing twelve months is around 4.43%, more than BEP-UN.TO's 4.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQN.TO Algonquin Power & Utilities Corp.	4.43%	4.29%	8.50%	6.95%	10.66%	5.52%	3.89%	3.96%	4.83%	4.28%	4.82%	4.49%
BEP-UN.TO Brookfield Renewable Partners L.P	4.20%	5.59%	6.03%	5.39%	5.19%	3.73%	3.29%	5.95%	9.66%	7.44%	7.78%	7.97%

Financials

AQN.TO vs. BEP-UN.TO - Profitability Comparison

The chart below illustrates the profitability comparison between Algonquin Power & Utilities Corp. and Brookfield Renewable Partners L.P over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AQN.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported a gross profit of 169.97M and revenue of 771.54M. Therefore, the gross margin over that period was 22.0%.

BEP-UN.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brookfield Renewable Partners L.P reported a gross profit of 210.05M and revenue of 1.52B. Therefore, the gross margin over that period was 13.8%.

AQN.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported an operating income of 169.97M and revenue of 771.54M, resulting in an operating margin of 22.0%.

BEP-UN.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brookfield Renewable Partners L.P reported an operating income of 138.06M and revenue of 1.52B, resulting in an operating margin of 9.1%.

AQN.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported a net income of 84.79M and revenue of 771.54M, resulting in a net margin of 11.0%.

BEP-UN.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brookfield Renewable Partners L.P reported a net income of -113.41M and revenue of 1.52B, resulting in a net margin of -7.5%.

Frequently Asked Questions

Can I hold both AQN.TO and BEP-UN.TO in my portfolio?

AQN.TO and BEP-UN.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.