CNA vs. FNF

Last updated Jun 4, 2026

CNA (CNA Financial Corporation) and FNF (Fidelity National Financial, Inc.) are both stocks. Both are in the Financial Services sector — CNA in Insurance - Property & Casualty, FNF in Insurance - Specialty. Over the past 10 years, CNA returned 10.36%/yr vs 10.84%/yr for FNF. At a 0.46 correlation, their price movements are largely independent.

Performance

CNA vs. FNF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CNA Financial Corporation (CNA) and Fidelity National Financial, Inc. (FNF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNA achieves a -6.60% return, which is significantly higher than FNF's -15.88% return. Both investments have delivered pretty close results over the past 10 years, with CNA having a 10.36% annualized return and FNF not far ahead at 10.84%.

CNA

• 1D: -0.78%
• 1M: -4.17%
• YTD: -6.60%
• 6M: -3.09%
• 1Y: -5.30%
• 3Y*: 11.87%
• 5Y*: 5.19%
• 10Y*: 10.36%

FNF

• 1D: -2.20%
• 1M: -11.12%
• YTD: -15.88%
• 6M: -17.42%
• 1Y: -10.54%
• 3Y*: 14.55%
• 5Y*: 4.85%
• 10Y*: 10.84%

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

CNA vs. FNF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNA CNA Financial Corporation	-6.60%	6.96%	23.96%	7.14%	3.82%	19.07%	-5.42%	9.47%	-11.12%	36.94%
FNF Fidelity National Financial, Inc.	-15.88%	4.35%	14.02%	42.18%	-21.64%	38.04%	-10.34%	48.75%	-17.22%	65.53%

Correlation

The correlation between CNA and FNF is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Oct 17, 2005	0.46

Fundamentals

Market Cap CNA : $11.34B FNF : $12.22B
EPS CNA : $4.88 FNF : $2.81
PE Ratio CNA : 8.59 FNF : 16.17
PS Ratio CNA : 0.77 FNF : 0.83
PB Ratio CNA : 1.04 FNF : 1.40
Total Revenue (TTM) CNA : $14.82B FNF : $14.81B
Gross Profit (TTM) CNA : $4.95B FNF : $7.82B
EBITDA (TTM) CNA : $1.73B FNF : $2.12B

Return for Risk

CNA vs. FNF — Risk / Return Rank

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

CNA

CNA Risk / Return Rank: 26
CNA Sharpe Ratio Rank: 29
CNA Sortino Ratio Rank: 24
CNA Omega Ratio Rank: 24
CNA Calmar Ratio Rank: 28
CNA Martin Ratio Rank: 24

FNF

FNF Risk / Return Rank: 21
FNF Sharpe Ratio Rank: 23
FNF Sortino Ratio Rank: 21
FNF Omega Ratio Rank: 21
FNF Calmar Ratio Rank: 26
FNF Martin Ratio Rank: 16

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.

CNA vs. FNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CNA Financial Corporation (CNA) and Fidelity National Financial, Inc. (FNF). 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.

	CNA	FNF	Difference
Sharpe ratio Return per unit of total volatility	-0.28	-0.41	+0.13
Sortino ratio Return per unit of downside risk	-0.25	-0.41	+0.16
Omega ratio Gain probability vs. loss probability	0.97	0.95	+0.02
Calmar ratio Return relative to maximum drawdown	-0.37	-0.43	+0.07
Martin ratio Return relative to average drawdown	-0.85	-1.14	+0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNA vs. FNF - Sharpe Ratio Comparison

The current CNA Sharpe Ratio is -0.28, which is higher than the FNF Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of CNA and FNF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CNA	FNF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.28	-0.41	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.19	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.39	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.25	-0.11

Drawdowns

CNA vs. FNF - Drawdown Comparison

The maximum CNA drawdown since its inception was -87.48%, which is greater than FNF's maximum drawdown of -72.49%. Use the drawdown chart below to compare losses from any high point for CNA and FNF.

Drawdown Indicators

	CNA	FNF	Difference
Max Drawdown Largest peak-to-trough decline	-87.48%	-72.49%	-14.99%
Max Drawdown (1Y) Largest decline over 1 year	-14.55%	-24.43%	+9.88%
Max Drawdown (3Y) Largest decline over 3 years	-14.55%	-30.06%	+15.51%
Max Drawdown (5Y) Largest decline over 5 years	-25.67%	-36.69%	+11.02%
Max Drawdown (10Y) Largest decline over 10 years	-45.91%	-56.21%	+10.30%
Current Drawdown Current decline from peak	-14.53%	-26.57%	+12.04%
Average Drawdown Average peak-to-trough decline	-25.55%	-17.12%	-8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.49%	9.29%	-2.80%

Volatility

CNA vs. FNF - Volatility Comparison

The current volatility for CNA Financial Corporation (CNA) is 5.56%, while Fidelity National Financial, Inc. (FNF) has a volatility of 7.10%. This indicates that CNA experiences smaller price fluctuations and is considered to be less risky than FNF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNA	FNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	7.10%	-1.54%
Volatility (6M) Calculated over the trailing 6-month period	14.95%	19.40%	-4.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	25.73%	-6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.44%	26.07%	-4.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.93%	28.11%	-3.18%

Dividends

CNA vs. FNF - Dividend Comparison

CNA's dividend yield for the trailing twelve months is around 9.26%, more than FNF's 4.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNA CNA Financial Corporation	9.26%	8.04%	7.77%	6.81%	8.51%	5.15%	8.93%	7.59%	7.47%	5.84%	7.23%	8.53%
FNF Fidelity National Financial, Inc.	4.41%	3.60%	3.46%	3.59%	4.57%	2.99%	3.45%	2.78%	3.82%	37.01%	2.59%	2.31%

Financials

CNA vs. FNF - Profitability Comparison

The chart below illustrates the profitability comparison between CNA Financial Corporation and Fidelity National Financial, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CNA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CNA Financial Corporation reported a gross profit of 1.50B and revenue of 3.68B. Therefore, the gross margin over that period was 40.9%.

FNF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fidelity National Financial, Inc. reported a gross profit of 0.00 and revenue of 3.23B. Therefore, the gross margin over that period was 0.0%.

CNA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CNA Financial Corporation reported an operating income of 300.00M and revenue of 3.68B, resulting in an operating margin of 8.2%.

FNF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fidelity National Financial, Inc. reported an operating income of 0.00 and revenue of 3.23B, resulting in an operating margin of 0.0%.

CNA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CNA Financial Corporation reported a net income of 323.00M and revenue of 3.68B, resulting in a net margin of 8.8%.

FNF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fidelity National Financial, Inc. reported a net income of 243.00M and revenue of 3.23B, resulting in a net margin of 7.5%.

Frequently Asked Questions

Can I hold both CNA and FNF in my portfolio?

CNA and FNF have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNA or FNF?

FNF has higher volatility (7.10%) compared to CNA (5.56%). In terms of maximum drawdown, CNA dropped -87.48% vs FNF's -72.49%.

Which has better risk-adjusted returns?

CNA currently has the higher Sharpe Ratio (-0.28 vs -0.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.