CM.TO vs. BMO
CM.TO (Canadian Imperial Bank of Commerce) and BMO (Bank of Montreal) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, CM.TO returned 21.33%/yr vs 16.30%/yr for BMO. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
CM.TO vs. BMO - Performance Comparison
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Different Trading Currencies
CM.TO is traded in CAD, while BMO is traded in USD. To make them comparable, the BMO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CM.TO achieves a 28.96% return, which is significantly lower than BMO's 34.55% return. Over the past 10 years, CM.TO has outperformed BMO with an annualized return of 21.33%, while BMO has yielded a comparatively lower 16.30% annualized return.
CM.TO
- 1D
- 0.28%
- 1M
- 3.79%
- YTD
- 28.96%
- 6M
- 26.06%
- 1Y
- 78.06%
- 3Y*
- 46.55%
- 5Y*
- 23.45%
- 10Y*
- 21.33%
BMO
- 1D
- -0.00%
- 1M
- 12.37%
- YTD
- 34.55%
- 6M
- 31.52%
- 1Y
- 67.75%
- 3Y*
- 31.37%
- 5Y*
- 18.09%
- 10Y*
- 16.30%
CM.TO vs. BMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CM.TO Canadian Imperial Bank of Commerce | 28.96% | 42.31% | 49.56% | 23.83% | -20.89% | 47.75% | 13.88% | 18.19% | -8.64% | 22.50% |
BMO Bank of Montreal | 34.55% | 33.22% | 11.70% | 12.50% | -6.86% | 48.08% | 0.88% | 18.42% | -7.88% | 8.73% |
Correlation
The correlation between CM.TO and BMO is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2006 | 0.61 |
The correlation between CM.TO and BMO has been stable across timeframes, ranging from 0.60 to 0.67 - a consistent structural relationship.
Fundamentals
CM.TO:
CA$147.10B
BMO:
$87.29B
CM.TO:
CA$10.53
BMO:
CA$14.56
CM.TO:
15.11
BMO:
16.16
CM.TO:
1.86
BMO:
0.74
CM.TO:
2.79
BMO:
2.04
CM.TO:
2.52
BMO:
1.57
CM.TO:
CA$53.25B
BMO:
CA$77.05B
CM.TO:
CA$28.73B
BMO:
CA$34.51B
CM.TO:
CA$13.01B
BMO:
CA$14.21B
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Return for Risk
CM.TO vs. BMO — Risk / Return Rank
CM.TO
BMO
CM.TO vs. BMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Imperial Bank of Commerce (CM.TO) and Bank of Montreal (BMO). 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.
| CM.TO | BMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.57 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 8.62 | 6.58 | +2.03 |
| Martin ratioReturn relative to average drawdown | 31.57 | 23.91 | +7.65 |
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Drawdowns
CM.TO vs. BMO - Drawdown Comparison
The maximum CM.TO drawdown since its inception was -58.49%, smaller than the maximum BMO drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for CM.TO and BMO.
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Drawdown Indicators
| CM.TO | BMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.49% | -62.08% | +3.59% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -10.34% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -16.57% | -16.17% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -35.43% | -27.62% | -7.81% |
Max Drawdown (10Y)Largest decline over 10 years | -40.02% | -45.82% | +5.80% |
Current DrawdownCurrent decline from peak | -1.00% | -0.00% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -9.29% | -8.48% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 2.84% | -0.36% |
Volatility
CM.TO vs. BMO - Volatility Comparison
Canadian Imperial Bank of Commerce (CM.TO) has a higher volatility of 7.75% compared to Bank of Montreal (BMO) at 4.69%. This indicates that CM.TO's price experiences larger fluctuations and is considered to be riskier than BMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CM.TO | BMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.75% | 4.69% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 14.92% | 15.73% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 19.63% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.24% | 21.94% | -3.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.93% | 24.34% | -4.41% |
Dividends
CM.TO vs. BMO - Dividend Comparison
CM.TO's dividend yield for the trailing twelve months is around 2.56%, less than BMO's 2.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
CM.TO Canadian Imperial Bank of Commerce | 2.56% | 3.20% | 4.04% | 5.47% | 7.52% | 8.13% | 10.74% | 10.51% | 10.58% | 8.39% | 8.84% | 9.69% |
Financials
CM.TO vs. BMO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Imperial Bank of Commerce and Bank of Montreal. 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
CM.TO vs. BMO - Profitability Comparison
CM.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a gross profit of 7.36B and revenue of 15.23B. Therefore, the gross margin over that period was 48.4%.
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%.
CM.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported an operating income of 3.20B and revenue of 15.23B, resulting in an operating margin of 21.0%.
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%.
CM.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a net income of 2.46B and revenue of 15.23B, resulting in a net margin of 16.1%.
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%.
Frequently Asked Questions
CM.TO and BMO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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