MA.NEO vs. NA.TO

Last updated Apr 3, 2026

Compare and contrast key facts about Mastercard Inc CDR (MA.NEO) and National Bank of Canada (NA.TO).

Performance

MA.NEO vs. NA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mastercard Inc CDR (MA.NEO) and National Bank of Canada (NA.TO). The values are adjusted to include any dividend payments, if applicable.

MA.NEO vs. NA.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MA.NEO Mastercard Inc CDR	-13.78%	6.43%	22.59%	22.17%	-4.59%	17.36%
NA.TO National Bank of Canada	7.94%	36.15%	35.91%	15.53%	-1.45%	1.54%

Fundamentals

Market Cap MA.NEO : CA$27.09B NA.TO : CA$73.03B
EPS MA.NEO : CA$15.78 NA.TO : CA$10.82
PE Ratio MA.NEO : 1.91 NA.TO : 17.11
PS Ratio MA.NEO : 0.86 NA.TO : 2.71
PB Ratio MA.NEO : 3.43 NA.TO : 2.39
Total Revenue (TTM) MA.NEO : CA$31.47B NA.TO : CA$26.97B
Gross Profit (TTM) MA.NEO : CA$24.39B NA.TO : CA$13.68B

Returns By Period

In the year-to-date period, MA.NEO achieves a -13.78% return, which is significantly lower than NA.TO's 7.94% return.

MA.NEO

• 1D: -1.44%
• 1M: -5.91%
• YTD: -13.78%
• 6M: -15.24%
• 1Y: -11.40%
• 3Y*: 9.26%
• 5Y*: —
• 10Y*: —

NA.TO

• 1D: 0.38%
• 1M: -2.44%
• YTD: 7.94%
• 6M: 25.70%
• 1Y: 56.95%
• 3Y*: 28.88%
• 5Y*: 21.36%
• 10Y*: 20.58%

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

Return for Risk

MA.NEO vs. NA.TO — Risk / Return Rank

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

MA.NEO

MA.NEO Risk / Return Rank: 18
MA.NEO Sharpe Ratio Rank: 20
MA.NEO Sortino Ratio Rank: 18
MA.NEO Omega Ratio Rank: 19
MA.NEO Calmar Ratio Rank: 21
MA.NEO Martin Ratio Rank: 11

NA.TO

NA.TO Risk / Return Rank: 96
NA.TO Sharpe Ratio Rank: 96
NA.TO Sortino Ratio Rank: 97
NA.TO Omega Ratio Rank: 97
NA.TO Calmar Ratio Rank: 93
NA.TO 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.

MA.NEO vs. NA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mastercard Inc CDR (MA.NEO) and National Bank of Canada (NA.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.

	MA.NEO	NA.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.46	3.15	-3.61
Sortino ratio Return per unit of downside risk	-0.49	4.25	-4.74
Omega ratio Gain probability vs. loss probability	0.93	1.64	-0.71
Calmar ratio Return relative to maximum drawdown	-0.58	4.97	-5.55
Martin ratio Return relative to average drawdown	-1.38	20.30	-21.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MA.NEO vs. NA.TO - Sharpe Ratio Comparison

The current MA.NEO Sharpe Ratio is -0.46, which is lower than the NA.TO Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of MA.NEO and NA.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MA.NEO	NA.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.46	3.15	-3.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.58	-0.13

Correlation

The correlation between MA.NEO and NA.TO is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MA.NEO vs. NA.TO - Dividend Comparison

MA.NEO's dividend yield for the trailing twelve months is around 0.89%, less than NA.TO's 2.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MA.NEO Mastercard Inc CDR	0.89%	0.76%	0.69%	0.72%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NA.TO National Bank of Canada	2.62%	2.75%	4.17%	4.03%	4.03%	3.11%	3.96%	3.77%	4.44%	3.70%	4.03%	5.16%

Drawdowns

MA.NEO vs. NA.TO - Drawdown Comparison

The maximum MA.NEO drawdown since its inception was -28.75%, smaller than the maximum NA.TO drawdown of -58.47%. Use the drawdown chart below to compare losses from any high point for MA.NEO and NA.TO.

Drawdown Indicators

	MA.NEO	NA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-28.75%	-58.47%	+29.72%
Max Drawdown (1Y) Largest decline over 1 year	-20.00%	-9.70%	-10.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.22%	—
Current Drawdown Current decline from peak	-18.40%	-3.17%	-15.23%
Average Drawdown Average peak-to-trough decline	-7.20%	-10.68%	+3.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.36%	2.92%	+5.44%

Volatility

MA.NEO vs. NA.TO - Volatility Comparison

Mastercard Inc CDR (MA.NEO) has a higher volatility of 7.03% compared to National Bank of Canada (NA.TO) at 6.50%. This indicates that MA.NEO's price experiences larger fluctuations and is considered to be riskier than NA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MA.NEO	NA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.03%	6.50%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	16.47%	12.45%	+4.02%
Volatility (1Y) Calculated over the trailing 1-year period	24.66%	18.24%	+6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.38%	17.32%	+6.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.38%	20.98%	+2.40%

Financials

MA.NEO vs. NA.TO - Profitability Comparison

The chart below illustrates the profitability comparison between Mastercard Inc CDR and National Bank of Canada over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MA.NEO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Mastercard Inc CDR reported a gross profit of 6.71B and revenue of 8.60B. Therefore, the gross margin over that period was 78.0%.

NA.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, National Bank of Canada reported a gross profit of 3.65B and revenue of 7.94B. Therefore, the gross margin over that period was 45.9%.

MA.NEO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Mastercard Inc CDR reported an operating income of 5.17B and revenue of 8.60B, resulting in an operating margin of 60.1%.

NA.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, National Bank of Canada reported an operating income of 1.64B and revenue of 7.94B, resulting in an operating margin of 20.6%.

MA.NEO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Mastercard Inc CDR reported a net income of 3.93B and revenue of 8.60B, resulting in a net margin of 45.7%.

NA.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, National Bank of Canada reported a net income of 1.25B and revenue of 7.94B, resulting in a net margin of 15.8%.