BCE.TO vs. TF.TO

Last updated Jun 13, 2026

BCE.TO (BCE Inc.) and TF.TO (Timbercreek Financial Corp.) are both stocks. BCE.TO operates in Telecom Services (Communication Services), while TF.TO operates in Mortgage Finance (Financial Services). Over the past 5 years, BCE.TO returned -4.80%/yr vs 1.70%/yr for TF.TO. At a 0.18 correlation, their price movements are largely independent.

Performance

BCE.TO vs. TF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BCE Inc. (BCE.TO) and Timbercreek Financial Corp. (TF.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCE.TO achieves a 6.30% return, which is significantly higher than TF.TO's 0.53% 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%

TF.TO

• 1D: 1.23%
• 1M: 3.70%
• YTD: 0.53%
• 6M: 1.82%
• 1Y: -2.45%
• 3Y*: 5.74%
• 5Y*: 1.70%
• 10Y*: —

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

BCE.TO vs. TF.TO - 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%
TF.TO Timbercreek Financial Corp.	0.53%	6.58%	16.09%	3.20%	-19.62%	19.59%	-5.44%	22.00%	-1.96%	18.70%

Correlation

The correlation between BCE.TO and TF.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	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jul 5, 2016	0.18

The correlation between BCE.TO and TF.TO shifts across timeframes, from 0.02 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BCE.TO : CA$32.05B TF.TO : CA$545.34M
EPS BCE.TO : CA$6.92 TF.TO : CA$0.36
PE Ratio BCE.TO : 4.97 TF.TO : 18.15
PEG Ratio BCE.TO : 0.01 TF.TO : 0.84
PS Ratio BCE.TO : 1.30 TF.TO : 3.74
PB Ratio BCE.TO : 1.59 TF.TO : 0.83
Total Revenue (TTM) BCE.TO : CA$24.71B TF.TO : CA$145.73M
Gross Profit (TTM) BCE.TO : CA$14.56B TF.TO : CA$79.48M
EBITDA (TTM) BCE.TO : CA$14.72B TF.TO : CA$55.87M

Return for Risk

BCE.TO vs. TF.TO — Risk / Return Rank

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

BCE.TO

BCE.TO Risk / Return Rank: 68
BCE.TO Sharpe Ratio Rank: 72
BCE.TO Sortino Ratio Rank: 66
BCE.TO Omega Ratio Rank: 63
BCE.TO Calmar Ratio Rank: 70
BCE.TO Martin Ratio Rank: 68

TF.TO

TF.TO Risk / Return Rank: 32
TF.TO Sharpe Ratio Rank: 34
TF.TO Sortino Ratio Rank: 28
TF.TO Omega Ratio Rank: 27
TF.TO Calmar Ratio Rank: 36
TF.TO Martin Ratio Rank: 34

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.

BCE.TO vs. TF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BCE Inc. (BCE.TO) and Timbercreek Financial Corp. (TF.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.

	BCE.TO	TF.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.93	-0.21	+1.14
Sortino ratio: Return per unit of downside risk	1.42	-0.17	+1.59
Omega ratio: Gain probability vs. loss probability	1.16	0.98	+0.19
Calmar ratio: Return relative to maximum drawdown	1.49	-0.21	+1.69
Martin ratio: Return relative to average drawdown	2.83	-0.48	+3.31

BCE.TO vs. TF.TO - Sharpe Ratio Comparison

The current BCE.TO Sharpe Ratio is 0.93, which is higher than the TF.TO Sharpe Ratio of -0.21. The chart below compares the historical Sharpe Ratios of BCE.TO and TF.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.

Drawdowns

BCE.TO vs. TF.TO - Drawdown Comparison

The maximum BCE.TO drawdown since its inception was -50.02%, which is greater than TF.TO's maximum drawdown of -40.43%. Use the drawdown chart below to compare losses from any high point for BCE.TO and TF.TO.

Drawdown Indicators

	BCE.TO	TF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-50.02%	-40.43%	-9.59%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	-16.36%	+5.54%
Max Drawdown (3Y) Largest decline over 3 years	-43.50%	-23.05%	-20.45%
Max Drawdown (5Y) Largest decline over 5 years	-50.02%	-30.99%	-19.03%
Max Drawdown (10Y) Largest decline over 10 years	-50.02%	—	—
Current Drawdown Current decline from peak	-38.09%	-8.19%	-29.90%
Average Drawdown Average peak-to-trough decline	-11.43%	-6.65%	-4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	7.03%	-1.35%

Volatility

BCE.TO vs. TF.TO - Volatility Comparison

BCE Inc. (BCE.TO) has a higher volatility of 4.92% compared to Timbercreek Financial Corp. (TF.TO) at 3.57%. This indicates that BCE.TO's price experiences larger fluctuations and is considered to be riskier than TF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCE.TO	TF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	3.57%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	12.20%	11.96%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	17.42%	16.10%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.15%	18.24%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	19.05%	-1.55%

Dividends

BCE.TO vs. TF.TO - Dividend Comparison

BCE.TO's dividend yield for the trailing twelve months is around 5.09%, less than TF.TO's 10.47% 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%
TF.TO Timbercreek Financial Corp.	10.47%	10.09%	9.76%	10.35%	9.76%	7.18%	7.99%	6.95%	7.89%	7.12%	3.92%	0.00%

Financials

BCE.TO vs. TF.TO - Profitability Comparison

The chart below illustrates the profitability comparison between BCE Inc. and Timbercreek Financial Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

TF.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Timbercreek Financial Corp. reported a gross profit of 22.05M and revenue of 39.10M. Therefore, the gross margin over that period was 56.4%.

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%.

TF.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Timbercreek Financial Corp. reported an operating income of 17.68M and revenue of 39.10M, resulting in an operating margin of 45.2%.

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%.

TF.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Timbercreek Financial Corp. reported a net income of 10.37M and revenue of 39.10M, resulting in a net margin of 26.5%.

Frequently Asked Questions

Can I hold both BCE.TO and TF.TO in my portfolio?

BCE.TO and TF.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.