BMO vs. AQN.TO
BMO (Bank of Montreal) and AQN.TO (Algonquin Power & Utilities Corp.) are both stocks. BMO operates in Banks - Diversified (Financial Services), while AQN.TO operates in Utilities - Renewable (Utilities). Over the past 10 years, BMO returned 15.40%/yr vs 0.39%/yr for AQN.TO. At a 0.24 correlation, their price movements are largely independent.
Performance
BMO vs. AQN.TO - Performance Comparison
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Different Trading Currencies
BMO is traded in USD, while AQN.TO is traded in CAD. To make them comparable, the AQN.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BMO achieves a 31.96% return, which is significantly higher than AQN.TO's -1.37% return. Over the past 10 years, BMO has outperformed AQN.TO with an annualized return of 15.40%, while AQN.TO has yielded a comparatively lower 0.39% annualized return.
BMO
- 1D
- 0.06%
- 1M
- 10.44%
- YTD
- 31.96%
- 6M
- 29.68%
- 1Y
- 63.34%
- 3Y*
- 29.00%
- 5Y*
- 14.92%
- 10Y*
- 15.40%
AQN.TO
- 1D
- 1.03%
- 1M
- 3.98%
- YTD
- -1.37%
- 6M
- 3.05%
- 1Y
- 7.73%
- 3Y*
- -5.38%
- 5Y*
- -13.26%
- 10Y*
- 0.39%
BMO vs. AQN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BMO Bank of Montreal | 31.96% | 39.59% | 2.98% | 15.24% | -12.41% | 48.15% | 3.34% | 23.51% | -15.02% | 16.63% |
AQN.TO Algonquin Power & Utilities Corp. | -1.37% | 45.29% | -25.05% | 3.10% | -51.67% | -9.64% | 21.82% | 44.58% | -6.10% | 37.48% |
Correlation
The correlation between BMO and AQN.TO is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2006 | 0.24 |
The correlation between BMO and AQN.TO shifts across timeframes, from 0.10 (1 year) to 0.31 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
BMO:
$87.29B
AQN.TO:
CA$6.49B
BMO:
CA$14.56
AQN.TO:
$0.22
BMO:
16.16
AQN.TO:
27.49
BMO:
0.74
AQN.TO:
0.13
BMO:
2.04
AQN.TO:
1.85
BMO:
1.57
AQN.TO:
1.04
BMO:
CA$77.05B
AQN.TO:
$2.52B
BMO:
CA$34.51B
AQN.TO:
$924.77M
BMO:
CA$14.21B
AQN.TO:
$928.99M
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Return for Risk
BMO vs. AQN.TO — Risk / Return Rank
BMO
AQN.TO
BMO vs. AQN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bank of Montreal (BMO) and Algonquin Power & Utilities Corp. (AQN.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.
| BMO | AQN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.03 | ||
| Sortino ratioReturn per unit of downside risk | +3.69 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.09 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 5.48 | 0.48 | +5.00 |
| Martin ratioReturn relative to average drawdown | 20.43 | 1.09 | +19.35 |
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Drawdowns
BMO vs. AQN.TO - Drawdown Comparison
The maximum BMO drawdown since its inception was -68.17%, smaller than the maximum AQN.TO drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for BMO and AQN.TO.
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Drawdown Indicators
| BMO | AQN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.17% | -82.16% | +13.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -16.20% | +4.58% |
Max Drawdown (3Y)Largest decline over 3 years | -18.56% | -44.90% | +26.34% |
Max Drawdown (5Y)Largest decline over 5 years | -33.94% | -68.71% | +34.77% |
Max Drawdown (10Y)Largest decline over 10 years | -50.97% | -70.42% | +19.45% |
Current DrawdownCurrent decline from peak | 0.00% | -55.25% | +55.25% |
Average DrawdownAverage peak-to-trough decline | -11.42% | -23.38% | +11.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 7.13% | -4.02% |
Volatility
BMO vs. AQN.TO - Volatility Comparison
The current volatility for Bank of Montreal (BMO) is 4.44%, while Algonquin Power & Utilities Corp. (AQN.TO) has a volatility of 4.76%. This indicates that BMO experiences smaller price fluctuations and is considered to be less risky than AQN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMO | AQN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 4.76% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.31% | 18.90% | -3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.01% | 23.65% | -4.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.35% | 29.18% | -7.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.66% | 26.45% | -2.79% |
Dividends
BMO vs. AQN.TO - Dividend Comparison
BMO's dividend yield for the trailing twelve months is around 2.86%, less than AQN.TO's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQN.TO Algonquin Power & Utilities Corp. | 4.28% | 4.32% | 7.48% | 6.95% | 9.59% | 3.65% | 3.70% | 3.24% | 3.99% | 3.59% | 4.23% | 4.08% |
BMO Bank of Montreal | 2.86% | 3.55% | 4.60% | 4.76% | 4.62% | 3.95% | 4.15% | 3.96% | 4.78% | 4.45% | 4.73% | 5.74% |
Financials
BMO vs. AQN.TO - Financials Comparison
This section allows you to compare key financial metrics between Bank of Montreal and Algonquin Power & Utilities Corp.. 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
BMO vs. AQN.TO - Profitability Comparison
BMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bank of Montreal reported a gross profit of 8.78B and revenue of 19.26B. Therefore, the gross margin over that period was 45.6%.
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%.
BMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bank of Montreal reported an operating income of 3.50B and revenue of 19.26B, resulting in an operating margin of 18.2%.
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%.
BMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bank of Montreal reported a net income of 2.63B and revenue of 19.26B, resulting in a net margin of 13.6%.
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%.
Frequently Asked Questions
BMO and AQN.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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