GWO.TO vs. ULTA

Last updated Jun 9, 2026

GWO.TO (Great-West Lifeco Inc.) and ULTA (Ulta Beauty, Inc.) are both stocks. GWO.TO operates in Insurance - Life (Financial Services), while ULTA operates in Specialty Retail (Consumer Cyclical). Over the past 10 years, GWO.TO returned 14.28%/yr vs 7.77%/yr for ULTA. At a 0.23 correlation, their price movements are largely independent.

Performance

GWO.TO vs. ULTA - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, GWO.TO achieves a 20.66% return, which is significantly higher than ULTA's -22.11% return. Over the past 10 years, GWO.TO has outperformed ULTA with an annualized return of 14.28%, while ULTA has yielded a comparatively lower 7.77% annualized return.

GWO.TO

• 1D: -2.10%
• 1M: 5.99%
• YTD: 20.66%
• 6M: 28.10%
• 1Y: 62.42%
• 3Y*: 34.22%
• 5Y*: 22.89%
• 10Y*: 14.28%

ULTA

• 1D: -0.64%
• 1M: -9.43%
• YTD: -22.11%
• 6M: -20.84%
• 1Y: 1.41%
• 3Y*: 4.47%
• 5Y*: 9.88%
• 10Y*: 7.77%

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

GWO.TO vs. ULTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GWO.TO Great-West Lifeco Inc.	20.66%	48.38%	14.28%	47.70%	-12.58%	31.45%	-2.64%	24.53%	-15.76%	4.08%
ULTA Ulta Beauty, Inc.	-22.11%	32.75%	-3.72%	1.97%	20.97%	43.52%	10.75%	-0.87%	18.67%	-18.21%

Correlation

The correlation between GWO.TO and ULTA 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	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Oct 25, 2007	0.23

The correlation between GWO.TO and ULTA shifts across timeframes, from 0.07 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap GWO.TO : CA$72.78B ULTA : $20.35B
EPS GWO.TO : CA$4.85 ULTA : $26.57
PE Ratio GWO.TO : 16.53 ULTA : 17.42
PEG Ratio GWO.TO : 1.84 ULTA : 1.73
PS Ratio GWO.TO : 2.13 ULTA : 1.63
PB Ratio GWO.TO : 2.69 ULTA : 7.88
Total Revenue (TTM) GWO.TO : CA$34.77B ULTA : $12.71B
Gross Profit (TTM) GWO.TO : CA$15.81B ULTA : $5.00B
EBITDA (TTM) GWO.TO : CA$6.15B ULTA : $1.81B

Return for Risk

GWO.TO vs. ULTA — Risk / Return Rank

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

GWO.TO

GWO.TO Risk / Return Rank: 96
GWO.TO Sharpe Ratio Rank: 97
GWO.TO Sortino Ratio Rank: 97
GWO.TO Omega Ratio Rank: 97
GWO.TO Calmar Ratio Rank: 92
GWO.TO Martin Ratio Rank: 95

ULTA

ULTA Risk / Return Rank: 39
ULTA Sharpe Ratio Rank: 41
ULTA Sortino Ratio Rank: 36
ULTA Omega Ratio Rank: 36
ULTA Calmar Ratio Rank: 42
ULTA Martin Ratio Rank: 41

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.TO vs. ULTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifeco Inc. (GWO.TO) and Ulta Beauty, Inc. (ULTA). 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.TO	ULTA	Difference
Sharpe ratio: Return per unit of total volatility	3.74	0.04	+3.70
Sortino ratio: Return per unit of downside risk	4.63	0.30	+4.33
Omega ratio: Gain probability vs. loss probability	1.68	1.04	+0.64
Calmar ratio: Return relative to maximum drawdown	5.08	0.04	+5.04
Martin ratio: Return relative to average drawdown	19.12	0.11	+19.01
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.TO vs. ULTA - Sharpe Ratio Comparison

The current GWO.TO Sharpe Ratio is 3.74, which is higher than the ULTA Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of GWO.TO and ULTA, 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.TO	ULTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.74	0.04	+3.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.39	0.29	+1.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.20	+0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.40	+0.03

Drawdowns

GWO.TO vs. ULTA - Drawdown Comparison

The maximum GWO.TO drawdown since its inception was -67.52%, smaller than the maximum ULTA drawdown of -83.51%. Use the drawdown chart below to compare losses from any high point for GWO.TO and ULTA.

Drawdown Indicators

	GWO.TO	ULTA	Difference
Max Drawdown Largest peak-to-trough decline	-67.52%	-83.51%	+15.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-33.33%	+20.99%
Max Drawdown (3Y) Largest decline over 3 years	-12.82%	-42.47%	+29.65%
Max Drawdown (5Y) Largest decline over 5 years	-27.64%	-42.47%	+14.83%
Max Drawdown (10Y) Largest decline over 10 years	-44.96%	-62.07%	+17.11%
Current Drawdown Current decline from peak	-2.10%	-33.04%	+30.94%
Average Drawdown Average peak-to-trough decline	-11.31%	-19.93%	+8.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	13.19%	-9.92%

Volatility

GWO.TO vs. ULTA - Volatility Comparison

The current volatility for Great-West Lifeco Inc. (GWO.TO) is 4.68%, while Ulta Beauty, Inc. (ULTA) has a volatility of 9.15%. This indicates that GWO.TO experiences smaller price fluctuations and is considered to be less risky than ULTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GWO.TO	ULTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	9.15%	-4.47%
Volatility (6M) Calculated over the trailing 6-month period	12.31%	28.20%	-15.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.82%	34.08%	-17.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	34.76%	-18.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	38.89%	-18.14%

Dividends

GWO.TO vs. ULTA - Dividend Comparison

GWO.TO's dividend yield for the trailing twelve months is around 3.19%, while ULTA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GWO.TO Great-West Lifeco Inc.	3.19%	3.60%	4.66%	4.74%	6.26%	4.75%	5.77%	4.97%	5.52%	4.18%	3.94%	3.78%
ULTA Ulta Beauty, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

GWO.TO vs. ULTA - Profitability Comparison

The chart below illustrates the profitability comparison between Great-West Lifeco Inc. and Ulta Beauty, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

ULTA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported a gross profit of 1.27B and revenue of 3.16B. Therefore, the gross margin over that period was 40.1%.

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%.

ULTA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported an operating income of 448.26M and revenue of 3.16B, resulting in an operating margin of 14.2%.

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%.

ULTA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported a net income of 340.47M and revenue of 3.16B, resulting in a net margin of 10.8%.

Frequently Asked Questions

Can I hold both GWO.TO and ULTA in my portfolio?

GWO.TO and ULTA 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.