BCE.TO vs. ENB
BCE.TO (BCE Inc.) and ENB (Enbridge Inc.) are both stocks. BCE.TO operates in Telecom Services (Communication Services), while ENB operates in Oil & Gas Midstream (Energy). Over the past 10 years, BCE.TO returned 0.48%/yr vs 10.62%/yr for ENB. At a 0.23 correlation, their price movements are largely independent.
Performance
BCE.TO vs. ENB - Performance Comparison
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Different Trading Currencies
BCE.TO is traded in CAD, while ENB is traded in USD. To make them comparable, the ENB values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BCE.TO achieves a 6.30% return, which is significantly lower than ENB's 23.69% return. Over the past 10 years, BCE.TO has underperformed ENB with an annualized return of 0.48%, while ENB has yielded a comparatively higher 10.62% annualized return.
BCE.TO
- 1D
- 0.23%
- 1M
- 5.04%
- YTD
- 6.30%
- 6M
- 8.15%
- 1Y
- 16.92%
- 3Y*
- -11.38%
- 5Y*
- -4.80%
- 10Y*
- 0.48%
ENB
- 1D
- 0.25%
- 1M
- 3.77%
- YTD
- 23.69%
- 6M
- 23.69%
- 1Y
- 31.35%
- 3Y*
- 24.04%
- 5Y*
- 17.77%
- 10Y*
- 10.62%
BCE.TO vs. ENB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCE.TO BCE Inc. | 6.30% | 5.35% | -30.02% | -6.22% | -4.33% | 27.90% | -3.92% | 17.38% | -5.65% | 9.18% |
ENB Enbridge Inc. | 23.69% | 14.05% | 37.05% | -3.48% | 13.20% | 30.76% | -15.65% | 30.44% | -8.43% | -9.31% |
Correlation
The correlation between BCE.TO and ENB is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.23 |
The correlation between BCE.TO and ENB shifts across timeframes, from 0.08 (1 year) to 0.24 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
BCE.TO:
CA$6.92
ENB:
$4.92
BCE.TO:
4.97
ENB:
11.48
BCE.TO:
0.01
ENB:
0.53
BCE.TO:
1.30
ENB:
1.34
BCE.TO:
CA$24.71B
ENB:
$69.05B
BCE.TO:
CA$14.56B
ENB:
$15.35B
BCE.TO:
CA$14.72B
ENB:
$17.09B
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Return for Risk
BCE.TO vs. ENB — Risk / Return Rank
BCE.TO
ENB
BCE.TO vs. ENB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BCE Inc. (BCE.TO) and Enbridge Inc. (ENB). 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.
| BCE.TO | ENB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.32 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 3.12 | -1.63 |
| Martin ratioReturn relative to average drawdown | 2.83 | 8.39 | -5.55 |
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Drawdowns
BCE.TO vs. ENB - Drawdown Comparison
The maximum BCE.TO drawdown since its inception was -50.02%, which is greater than ENB's maximum drawdown of -39.63%. Use the drawdown chart below to compare losses from any high point for BCE.TO and ENB.
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Drawdown Indicators
| BCE.TO | ENB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.02% | -39.63% | -10.39% |
Max Drawdown (1Y)Largest decline over 1 year | -10.82% | -9.76% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -43.50% | -12.18% | -31.32% |
Max Drawdown (5Y)Largest decline over 5 years | -50.02% | -21.88% | -28.14% |
Max Drawdown (10Y)Largest decline over 10 years | -50.02% | -39.63% | -10.39% |
Current DrawdownCurrent decline from peak | -38.09% | -1.26% | -36.83% |
Average DrawdownAverage peak-to-trough decline | -11.43% | -8.14% | -3.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.68% | 3.72% | +1.96% |
Volatility
BCE.TO vs. ENB - Volatility Comparison
The current volatility for BCE Inc. (BCE.TO) is 4.92%, while Enbridge Inc. (ENB) has a volatility of 6.22%. This indicates that BCE.TO experiences smaller price fluctuations and is considered to be less risky than ENB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCE.TO | ENB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 6.22% | -1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.20% | 13.26% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.42% | 16.57% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.15% | 19.31% | -2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.50% | 24.94% | -7.44% |
Dividends
BCE.TO vs. ENB - Dividend Comparison
BCE.TO's dividend yield for the trailing twelve months is around 5.09%, more than ENB's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCE.TO BCE Inc. | 5.09% | 7.06% | 11.97% | 7.42% | 6.19% | 5.32% | 6.12% | 5.27% | 5.60% | 4.75% | 4.70% | 4.86% |
ENB Enbridge Inc. | 4.91% | 5.66% | 6.28% | 7.31% | 6.80% | 6.85% | 7.55% | 5.58% | 6.68% | 4.71% | 4.13% | 4.71% |
Financials
BCE.TO vs. ENB - Financials Comparison
This section allows you to compare key financial metrics between BCE Inc. and Enbridge Inc.. 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
BCE.TO vs. ENB - Profitability Comparison
BCE.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BCE Inc. reported a gross profit of 1.85B and revenue of 6.17B. Therefore, the gross margin over that period was 30.0%.
ENB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enbridge Inc. reported a gross profit of 0.00 and revenue of 22.36B. Therefore, the gross margin over that period was 0.0%.
BCE.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BCE Inc. reported an operating income of 1.28B and revenue of 6.17B, resulting in an operating margin of 20.7%.
ENB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enbridge Inc. reported an operating income of 3.23B and revenue of 22.36B, resulting in an operating margin of 14.4%.
BCE.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BCE Inc. reported a net income of 653.00M and revenue of 6.17B, resulting in a net margin of 10.6%.
ENB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enbridge Inc. reported a net income of 2.95B and revenue of 22.36B, resulting in a net margin of 13.2%.
Frequently Asked Questions
BCE.TO and ENB have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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