FSV.TO vs. ^TNX

Last updated Jun 5, 2026

FSV.TO (FirstService Corporation) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, FSV.TO returned 13.15%/yr vs 10.92%/yr for ^TNX. At a correlation of -0.01, they often move in opposite directions.

Performance

FSV.TO vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in FirstService Corporation (FSV.TO) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FSV.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FSV.TO achieves a -8.97% return, which is significantly lower than ^TNX's 9.01% return. Over the past 10 years, FSV.TO has outperformed ^TNX with an annualized return of 13.15%, while ^TNX has yielded a comparatively lower 10.92% annualized return.

FSV.TO

• 1D: 1.80%
• 1M: 7.21%
• YTD: -8.97%
• 6M: -9.18%
• 1Y: -18.97%
• 3Y*: 0.17%
• 5Y*: 0.09%
• 10Y*: 13.15%

^TNX

• 1D: -0.22%
• 1M: 4.85%
• YTD: 9.01%
• 6M: 8.90%
• 1Y: 3.64%
• 3Y*: 7.84%
• 5Y*: 27.02%
• 10Y*: 10.92%

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

FSV.TO vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSV.TO FirstService Corporation	-8.97%	-17.49%	22.03%	30.24%	-32.79%	43.41%	45.02%	29.85%	7.33%	39.01%
^TNX Treasury Yield 10 Years	9.01%	-13.14%	28.45%	-2.53%	174.83%	63.40%	-53.02%	-32.07%	21.16%	-7.94%

Correlation

The correlation between FSV.TO and ^TNX is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	-0.14
Correlation (5Y) Calculated over the trailing 5-year period	-0.10
Correlation (10Y) Calculated over the trailing 10-year period	-0.03
Correlation (All Time) Calculated using the full available price history since May 28, 2015	-0.01

The correlation between FSV.TO and ^TNX shifts across timeframes, from -0.20 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSV.TO vs. ^TNX — Risk / Return Rank

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

FSV.TO

FSV.TO Risk / Return Rank: 18
FSV.TO Sharpe Ratio Rank: 12
FSV.TO Sortino Ratio Rank: 14
FSV.TO Omega Ratio Rank: 14
FSV.TO Calmar Ratio Rank: 25
FSV.TO Martin Ratio Rank: 25

^TNX

^TNX Risk / Return Rank: 19
^TNX Sharpe Ratio Rank: 20
^TNX Sortino Ratio Rank: 19
^TNX Omega Ratio Rank: 18
^TNX Calmar Ratio Rank: 20
^TNX Martin Ratio Rank: 19

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.

FSV.TO vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FirstService Corporation (FSV.TO) and Treasury Yield 10 Years (^TNX). 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.

	FSV.TO	^TNX	Difference
Sharpe ratio: Return per unit of total volatility	-0.68	0.26	-0.94
Sortino ratio: Return per unit of downside risk	-0.85	0.49	-1.34
Omega ratio: Gain probability vs. loss probability	0.89	1.05	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.48	0.35	-0.82
Martin ratio: Return relative to average drawdown	-0.84	0.69	-1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSV.TO vs. ^TNX - Sharpe Ratio Comparison

The current FSV.TO Sharpe Ratio is -0.68, which is lower than the ^TNX Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of FSV.TO and ^TNX, 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

	FSV.TO	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.68	0.26	-0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.81	-0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.23	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.05	+0.57

Drawdowns

FSV.TO vs. ^TNX - Drawdown Comparison

The maximum FSV.TO drawdown since its inception was -42.79%, smaller than the maximum ^TNX drawdown of -83.97%. Use the drawdown chart below to compare losses from any high point for FSV.TO and ^TNX.

Drawdown Indicators

	FSV.TO	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-42.79%	-83.97%	+41.18%
Max Drawdown (1Y) Largest decline over 1 year	-40.26%	-12.47%	-27.79%
Max Drawdown (3Y) Largest decline over 3 years	-40.26%	-28.10%	-12.16%
Max Drawdown (5Y) Largest decline over 5 years	-42.56%	-28.10%	-14.46%
Max Drawdown (10Y) Largest decline over 10 years	-42.79%	-83.93%	+41.14%
Current Drawdown Current decline from peak	-32.36%	-9.83%	-22.53%
Average Drawdown Average peak-to-trough decline	-11.44%	-32.53%	+21.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.72%	6.24%	+16.48%

Volatility

FSV.TO vs. ^TNX - Volatility Comparison

FirstService Corporation (FSV.TO) has a higher volatility of 9.34% compared to Treasury Yield 10 Years (^TNX) at 5.34%. This indicates that FSV.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSV.TO	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.34%	5.34%	+4.00%
Volatility (6M) Calculated over the trailing 6-month period	21.23%	11.64%	+9.59%
Volatility (1Y) Calculated over the trailing 1-year period	27.96%	17.05%	+10.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.21%	33.37%	-9.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.07%	48.25%	-22.18%

Frequently Asked Questions

Can I hold both FSV.TO and ^TNX in my portfolio?

FSV.TO and ^TNX 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.