BCE.TO vs. RY
BCE.TO (BCE Inc.) and RY (Royal Bank of Canada) are both stocks. BCE.TO operates in Telecom Services (Communication Services), while RY operates in Banks - Diversified (Financial Services). Over the past 10 years, BCE.TO returned 0.48%/yr vs 18.19%/yr for RY. At a 0.24 correlation, their price movements are largely independent.
Performance
BCE.TO vs. RY - Performance Comparison
Loading charts...
Different Trading Currencies
BCE.TO is traded in CAD, while RY is traded in USD. To make them comparable, the RY 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 RY's 21.09% return. Over the past 10 years, BCE.TO has underperformed RY with an annualized return of 0.48%, while RY has yielded a comparatively higher 18.19% 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%
RY
- 1D
- 0.32%
- 1M
- 10.77%
- YTD
- 21.09%
- 6M
- 23.73%
- 1Y
- 65.38%
- 3Y*
- 35.55%
- 5Y*
- 21.80%
- 10Y*
- 18.19%
BCE.TO vs. RY - 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% |
RY Royal Bank of Canada | 21.09% | 39.61% | 34.28% | 10.04% | -2.17% | 34.05% | 5.85% | 15.22% | -5.56% | 16.49% |
Correlation
The correlation between BCE.TO and RY 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 | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.24 |
The correlation between BCE.TO and RY shifts across timeframes, from -0.02 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
Fundamentals
BCE.TO:
CA$32.05B
RY:
$205.02B
BCE.TO:
CA$6.92
RY:
CA$18.17
BCE.TO:
4.97
RY:
15.35
BCE.TO:
0.01
RY:
2.22
BCE.TO:
1.30
RY:
2.45
BCE.TO:
1.59
RY:
2.21
BCE.TO:
CA$24.71B
RY:
CA$138.99B
BCE.TO:
CA$14.56B
RY:
CA$65.64B
BCE.TO:
CA$14.72B
RY:
CA$30.01B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BCE.TO vs. RY — Risk / Return Rank
BCE.TO
RY
BCE.TO vs. RY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BCE Inc. (BCE.TO) and Royal Bank of Canada (RY). 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 | RY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.16 | ||
| Sortino ratioReturn per unit of downside risk | -4.27 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.72 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 7.83 | -6.35 |
| Martin ratioReturn relative to average drawdown | 2.83 | 28.12 | -25.29 |
Loading charts...
Drawdowns
BCE.TO vs. RY - Drawdown Comparison
The maximum BCE.TO drawdown since its inception was -50.02%, smaller than the maximum RY drawdown of -53.85%. Use the drawdown chart below to compare losses from any high point for BCE.TO and RY.
Loading charts...
Drawdown Indicators
| BCE.TO | RY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.02% | -53.85% | +3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -10.82% | -8.11% | -2.71% |
Max Drawdown (3Y)Largest decline over 3 years | -43.50% | -16.37% | -27.13% |
Max Drawdown (5Y)Largest decline over 5 years | -50.02% | -20.93% | -29.09% |
Max Drawdown (10Y)Largest decline over 10 years | -50.02% | -34.52% | -15.50% |
Current DrawdownCurrent decline from peak | -38.09% | 0.00% | -38.09% |
Average DrawdownAverage peak-to-trough decline | -11.43% | -6.43% | -5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.68% | 2.26% | +3.42% |
Volatility
BCE.TO vs. RY - Volatility Comparison
BCE Inc. (BCE.TO) has a higher volatility of 4.92% compared to Royal Bank of Canada (RY) at 4.29%. This indicates that BCE.TO's price experiences larger fluctuations and is considered to be riskier than RY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BCE.TO | RY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 4.29% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 12.20% | 11.83% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.42% | 15.56% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.15% | 18.61% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.50% | 20.51% | -3.01% |
Dividends
BCE.TO vs. RY - Dividend Comparison
BCE.TO's dividend yield for the trailing twelve months is around 5.09%, more than RY's 2.32% 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% |
RY Royal Bank of Canada | 2.32% | 2.54% | 3.39% | 4.29% | 4.07% | 3.24% | 3.88% | 3.88% | 4.27% | 3.22% | 3.95% | 5.41% |
Financials
BCE.TO vs. RY - Financials Comparison
This section allows you to compare key financial metrics between BCE Inc. 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
BCE.TO vs. RY - 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%.
RY - 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 16.51B and revenue of 33.93B. Therefore, the gross margin over that period was 48.7%.
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%.
RY - 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 33.93B, resulting in an operating margin of 20.9%.
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%.
RY - 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 33.93B, resulting in a net margin of 16.2%.
Frequently Asked Questions
BCE.TO and RY 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.
Find the right allocation for BCE.TO and RY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer