GWO-PQ.TO vs. RY

Last updated Jun 5, 2026

GWO-PQ.TO (Great-West Lifeco Inc.) and RY (Royal Bank of Canada) are both stocks. Both are in the Financial Services sector — GWO-PQ.TO in Insurance - Life, RY in Banks - Diversified. Over the past 10 years, GWO-PQ.TO returned 5.33%/yr vs 17.41%/yr for RY. At a 0.11 correlation, their price movements are largely independent.

Performance

GWO-PQ.TO vs. RY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Great-West Lifeco Inc. (GWO-PQ.TO) and Royal Bank of Canada (RY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GWO-PQ.TO is traded in CAD, while RY is traded in USD. To make them comparable, the RY values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GWO-PQ.TO achieves a 1.17% return, which is significantly lower than RY's 17.22% return. Over the past 10 years, GWO-PQ.TO has underperformed RY with an annualized return of 5.33%, while RY has yielded a comparatively higher 17.41% annualized return.

GWO-PQ.TO

• 1D: -0.26%
• 1M: 0.43%
• YTD: 1.17%
• 6M: 1.04%
• 1Y: 10.24%
• 3Y*: 11.08%
• 5Y*: 3.63%
• 10Y*: 5.33%

RY

• 1D: -0.27%
• 1M: 9.22%
• YTD: 17.22%
• 6M: 22.18%
• 1Y: 60.51%
• 3Y*: 34.77%
• 5Y*: 20.92%
• 10Y*: 17.41%

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

GWO-PQ.TO vs. RY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GWO-PQ.TO Great-West Lifeco Inc.	1.17%	14.52%	18.43%	5.04%	-17.89%	6.47%	9.03%	14.71%	-4.34%	8.03%
RY Royal Bank of Canada	17.22%	39.58%	34.43%	10.24%	-1.45%	32.90%	6.59%	14.27%	-5.49%	16.99%

Correlation

The correlation between GWO-PQ.TO and RY is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jul 9, 2012	0.11

The correlation between GWO-PQ.TO and RY shifts across timeframes, from -0.07 (1 year) to 0.12 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

GWO-PQ.TO vs. RY — Risk / Return Rank

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

GWO-PQ.TO

GWO-PQ.TO Risk / Return Rank: 75
GWO-PQ.TO Sharpe Ratio Rank: 76
GWO-PQ.TO Sortino Ratio Rank: 72
GWO-PQ.TO Omega Ratio Rank: 72
GWO-PQ.TO Calmar Ratio Rank: 75
GWO-PQ.TO Martin Ratio Rank: 78

RY

RY Risk / Return Rank: 96
RY Sharpe Ratio Rank: 97
RY Sortino Ratio Rank: 98
RY Omega Ratio Rank: 97
RY Calmar Ratio Rank: 93
RY Martin Ratio Rank: 96

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.

GWO-PQ.TO vs. RY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifeco Inc. (GWO-PQ.TO) and Royal Bank of Canada (RY). 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.

	GWO-PQ.TO	RY	Difference
Sharpe ratio: Return per unit of total volatility	1.22	4.38	-3.17
Sortino ratio: Return per unit of downside risk	1.85	6.31	-4.47
Omega ratio: Gain probability vs. loss probability	1.24	1.81	-0.57
Calmar ratio: Return relative to maximum drawdown	2.11	7.47	-5.36
Martin ratio: Return relative to average drawdown	5.73	27.79	-22.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GWO-PQ.TO vs. RY - Sharpe Ratio Comparison

The current GWO-PQ.TO Sharpe Ratio is 1.22, which is lower than the RY Sharpe Ratio of 4.38. The chart below compares the historical Sharpe Ratios of GWO-PQ.TO and RY, 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

	GWO-PQ.TO	RY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	4.38	-3.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	1.40	-1.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	1.04	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.92	-0.48

Drawdowns

GWO-PQ.TO vs. RY - Drawdown Comparison

The maximum GWO-PQ.TO drawdown since its inception was -36.24%, which is greater than RY's maximum drawdown of -34.16%. Use the drawdown chart below to compare losses from any high point for GWO-PQ.TO and RY.

Drawdown Indicators

	GWO-PQ.TO	RY	Difference
Max Drawdown Largest peak-to-trough decline	-36.24%	-34.16%	-2.08%
Max Drawdown (1Y) Largest decline over 1 year	-4.88%	-8.14%	+3.26%
Max Drawdown (3Y) Largest decline over 3 years	-9.50%	-15.65%	+6.15%
Max Drawdown (5Y) Largest decline over 5 years	-23.17%	-20.60%	-2.57%
Max Drawdown (10Y) Largest decline over 10 years	-36.24%	-34.16%	-2.08%
Current Drawdown Current decline from peak	-1.00%	-0.27%	-0.73%
Average Drawdown Average peak-to-trough decline	-4.45%	-5.26%	+0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	2.18%	-0.39%

Volatility

GWO-PQ.TO vs. RY - Volatility Comparison

The current volatility for Great-West Lifeco Inc. (GWO-PQ.TO) is 2.41%, while Royal Bank of Canada (RY) has a volatility of 4.31%. This indicates that GWO-PQ.TO experiences smaller price fluctuations and is considered to be less risky than RY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GWO-PQ.TO	RY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.41%	4.31%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	6.12%	10.76%	-4.64%
Volatility (1Y) Calculated over the trailing 1-year period	8.46%	13.89%	-5.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.73%	15.04%	-4.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.32%	16.82%	-4.50%

Dividends

GWO-PQ.TO vs. RY - Dividend Comparison

GWO-PQ.TO's dividend yield for the trailing twelve months is around 5.61%, more than RY's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GWO-PQ.TO Great-West Lifeco Inc.	5.61%	5.52%	5.98%	6.65%	6.54%	5.06%	5.13%	5.30%	5.76%	5.21%	5.34%	5.52%
RY Royal Bank of Canada	2.39%	2.54%	3.39%	4.29%	4.07%	3.24%	3.88%	3.88%	4.27%	3.22%	3.95%	5.41%

Financials

Frequently Asked Questions

Can I hold both GWO-PQ.TO and RY in my portfolio?

GWO-PQ.TO and RY have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.