CM.TO vs. GWO.TO
CM.TO (Canadian Imperial Bank of Commerce) and GWO.TO (Great-West Lifeco Inc.) are both stocks. Both are in the Financial Services sector — CM.TO in Banks - Diversified, GWO.TO in Insurance - Life. Over the past 10 years, CM.TO returned 21.34%/yr vs 14.86%/yr for GWO.TO. At a 0.45 correlation, their price movements are largely independent.
Performance
CM.TO vs. GWO.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CM.TO achieves a 28.60% return, which is significantly higher than GWO.TO's 25.54% return. Over the past 10 years, CM.TO has outperformed GWO.TO with an annualized return of 21.34%, while GWO.TO has yielded a comparatively lower 14.86% annualized return.
CM.TO
- 1D
- 1.70%
- 1M
- 5.20%
- YTD
- 28.60%
- 6M
- 26.24%
- 1Y
- 76.96%
- 3Y*
- 47.25%
- 5Y*
- 23.85%
- 10Y*
- 21.34%
GWO.TO
- 1D
- 0.58%
- 1M
- 10.07%
- YTD
- 25.54%
- 6M
- 27.21%
- 1Y
- 70.72%
- 3Y*
- 35.82%
- 5Y*
- 23.88%
- 10Y*
- 14.86%
CM.TO vs. GWO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CM.TO Canadian Imperial Bank of Commerce | 28.60% | 42.31% | 49.56% | 23.83% | -20.89% | 47.75% | 13.88% | 18.19% | -8.64% | 22.50% |
GWO.TO Great-West Lifeco Inc. | 25.54% | 48.38% | 14.28% | 47.70% | -12.58% | 31.45% | -2.64% | 24.53% | -15.76% | 4.08% |
Correlation
The correlation between CM.TO and GWO.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2006 | 0.45 |
Over the past year, the correlation between CM.TO and GWO.TO has dropped to 0.20 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.
Fundamentals
CM.TO:
CA$146.70B
GWO.TO:
CA$75.72B
CM.TO:
CA$10.53
GWO.TO:
CA$4.85
CM.TO:
15.07
GWO.TO:
17.20
CM.TO:
1.85
GWO.TO:
1.91
CM.TO:
2.78
GWO.TO:
2.21
CM.TO:
2.51
GWO.TO:
2.80
CM.TO:
CA$53.25B
GWO.TO:
CA$34.77B
CM.TO:
CA$28.73B
GWO.TO:
CA$15.81B
CM.TO:
CA$13.01B
GWO.TO:
CA$6.15B
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
CM.TO vs. GWO.TO — Risk / Return Rank
CM.TO
GWO.TO
CM.TO vs. GWO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Imperial Bank of Commerce (CM.TO) and Great-West Lifeco Inc. (GWO.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.
| CM.TO | GWO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.77 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 8.50 | 5.76 | +2.74 |
| Martin ratioReturn relative to average drawdown | 31.13 | 21.70 | +9.43 |
Loading charts...
Drawdowns
CM.TO vs. GWO.TO - Drawdown Comparison
The maximum CM.TO drawdown since its inception was -58.49%, smaller than the maximum GWO.TO drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for CM.TO and GWO.TO.
Loading charts...
Drawdown Indicators
| CM.TO | GWO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.49% | -67.52% | +9.03% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -12.34% | +3.23% |
Max Drawdown (3Y)Largest decline over 3 years | -16.57% | -12.82% | -3.75% |
Max Drawdown (5Y)Largest decline over 5 years | -35.43% | -27.64% | -7.79% |
Max Drawdown (10Y)Largest decline over 10 years | -40.02% | -44.96% | +4.94% |
Current DrawdownCurrent decline from peak | -1.28% | 0.00% | -1.28% |
Average DrawdownAverage peak-to-trough decline | -9.29% | -11.31% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 3.27% | -0.79% |
Volatility
CM.TO vs. GWO.TO - Volatility Comparison
Canadian Imperial Bank of Commerce (CM.TO) has a higher volatility of 7.93% compared to Great-West Lifeco Inc. (GWO.TO) at 4.80%. This indicates that CM.TO's price experiences larger fluctuations and is considered to be riskier than GWO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CM.TO | GWO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.93% | 4.80% | +3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 14.93% | 12.35% | +2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.59% | 16.77% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.23% | 16.64% | +1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.92% | 20.75% | -0.83% |
Dividends
CM.TO vs. GWO.TO - Dividend Comparison
CM.TO's dividend yield for the trailing twelve months is around 2.57%, less than GWO.TO's 3.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CM.TO Canadian Imperial Bank of Commerce | 2.57% | 3.20% | 4.04% | 5.47% | 7.52% | 8.13% | 10.74% | 10.51% | 10.58% | 8.39% | 8.84% | 9.69% |
GWO.TO Great-West Lifeco Inc. | 3.07% | 3.60% | 4.66% | 4.74% | 6.26% | 4.75% | 5.77% | 4.97% | 5.52% | 4.18% | 3.94% | 3.78% |
Financials
CM.TO vs. GWO.TO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Imperial Bank of Commerce and Great-West Lifeco 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
CM.TO vs. GWO.TO - 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%.
GWO.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Great-West Lifeco Inc. reported a gross profit of 3.62B and revenue of 7.73B. Therefore, the gross margin over that period was 46.9%.
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%.
GWO.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Great-West Lifeco Inc. reported an operating income of 1.61B and revenue of 7.73B, resulting in an operating margin of 20.8%.
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%.
GWO.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Great-West Lifeco Inc. reported a net income of 1.24B and revenue of 7.73B, resulting in a net margin of 16.1%.
Frequently Asked Questions
CM.TO and GWO.TO have a correlation of 0.20, 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 CM.TO and GWO.TO
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