GWO.TO vs. RY.TO
GWO.TO (Great-West Lifeco Inc.) and RY.TO (Royal Bank of Canada) are both stocks. Both are in the Financial Services sector — GWO.TO in Insurance - Life, RY.TO in Banks - Diversified. Over the past 10 years, GWO.TO returned 14.86%/yr vs 18.12%/yr for RY.TO. At a 0.49 correlation, their price movements are largely independent.
Performance
GWO.TO vs. RY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GWO.TO achieves a 25.54% return, which is significantly higher than RY.TO's 20.87% return. Over the past 10 years, GWO.TO has underperformed RY.TO with an annualized return of 14.86%, while RY.TO has yielded a comparatively higher 18.12% annualized return.
GWO.TO
- 1D
- 0.58%
- 1M
- 8.18%
- YTD
- 25.54%
- 6M
- 27.21%
- 1Y
- 69.48%
- 3Y*
- 35.82%
- 5Y*
- 23.88%
- 10Y*
- 14.86%
RY.TO
- 1D
- 0.36%
- 1M
- 10.50%
- YTD
- 20.87%
- 6M
- 23.89%
- 1Y
- 65.59%
- 3Y*
- 35.54%
- 5Y*
- 21.56%
- 10Y*
- 18.12%
GWO.TO vs. RY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
RY.TO Royal Bank of Canada | 20.87% | 39.60% | 34.37% | 9.80% | -1.52% | 33.09% | 6.52% | 14.33% | -5.50% | 17.12% |
Correlation
The correlation between GWO.TO and RY.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.49 |
Over the past year, the correlation between GWO.TO and RY.TO has dropped to 0.22 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
Fundamentals
GWO.TO:
CA$75.72B
RY.TO:
CA$389.54B
GWO.TO:
CA$4.85
RY.TO:
CA$15.77
GWO.TO:
17.20
RY.TO:
17.69
GWO.TO:
1.91
RY.TO:
2.60
GWO.TO:
2.21
RY.TO:
3.25
GWO.TO:
2.80
RY.TO:
3.01
GWO.TO:
CA$34.77B
RY.TO:
CA$120.33B
GWO.TO:
CA$15.81B
RY.TO:
CA$65.64B
GWO.TO:
CA$6.15B
RY.TO:
CA$14.74B
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Return for Risk
GWO.TO vs. RY.TO — Risk / Return Rank
GWO.TO
RY.TO
GWO.TO vs. RY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Great-West Lifeco Inc. (GWO.TO) and Royal Bank of Canada (RY.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.
| GWO.TO | RY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.77 | 1.85 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 5.76 | 7.91 | -2.15 |
| Martin ratioReturn relative to average drawdown | 21.70 | 29.39 | -7.69 |
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Drawdowns
GWO.TO vs. RY.TO - Drawdown Comparison
The maximum GWO.TO drawdown since its inception was -67.52%, which is greater than RY.TO's maximum drawdown of -54.03%. Use the drawdown chart below to compare losses from any high point for GWO.TO and RY.TO.
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Drawdown Indicators
| GWO.TO | RY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.52% | -54.03% | -13.49% |
Max Drawdown (1Y)Largest decline over 1 year | -12.34% | -8.12% | -4.22% |
Max Drawdown (3Y)Largest decline over 3 years | -12.82% | -16.00% | +3.18% |
Max Drawdown (5Y)Largest decline over 5 years | -27.64% | -21.21% | -6.43% |
Max Drawdown (10Y)Largest decline over 10 years | -44.96% | -33.84% | -11.12% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -11.31% | -6.72% | -4.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 2.18% | +1.09% |
Volatility
GWO.TO vs. RY.TO - Volatility Comparison
Great-West Lifeco Inc. (GWO.TO) has a higher volatility of 4.80% compared to Royal Bank of Canada (RY.TO) at 4.23%. This indicates that GWO.TO's price experiences larger fluctuations and is considered to be riskier than RY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GWO.TO | RY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 4.23% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 12.35% | 10.44% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.77% | 13.82% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.64% | 14.93% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.75% | 17.26% | +3.49% |
Dividends
GWO.TO vs. RY.TO - Dividend Comparison
GWO.TO's dividend yield for the trailing twelve months is around 3.07%, more than RY.TO's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RY.TO Royal Bank of Canada | 2.28% | 2.58% | 3.23% | 3.99% | 3.90% | 3.22% | 4.10% | 3.96% | 4.03% | 3.39% | 3.57% | 4.15% |
Financials
GWO.TO vs. RY.TO - Financials Comparison
This section allows you to compare key financial metrics between Great-West Lifeco Inc. and Royal Bank of Canada. 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
GWO.TO vs. RY.TO - Profitability Comparison
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%.
RY.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a gross profit of 16.52B and revenue of 33.95B. Therefore, the gross margin over that period was 48.7%.
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%.
RY.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported an operating income of 7.10B and revenue of 33.95B, resulting in an operating margin of 20.9%.
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%.
RY.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a net income of 5.51B and revenue of 33.95B, resulting in a net margin of 16.2%.
Frequently Asked Questions
GWO.TO and RY.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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