MDA.TO vs. ATZ.TO

Last updated Jun 13, 2026

MDA.TO (MDA Space Ltd.) and ATZ.TO (Aritzia Inc.) are both stocks. MDA.TO operates in Aerospace & Defense (Industrials), while ATZ.TO operates in Apparel Retail (Consumer Cyclical). Over the past 5 years, MDA.TO returned 28.31%/yr vs 38.38%/yr for ATZ.TO. At a 0.20 correlation, their price movements are largely independent.

Performance

MDA.TO vs. ATZ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in MDA Space Ltd. (MDA.TO) and Aritzia Inc. (ATZ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDA.TO achieves a 95.80% return, which is significantly higher than ATZ.TO's 43.60% return.

MDA.TO

• 1D: -8.57%
• 1M: -3.03%
• YTD: 95.80%
• 6M: 106.00%
• 1Y: 76.45%
• 3Y*: 83.01%
• 5Y*: 28.31%
• 10Y*: —

ATZ.TO

• 1D: 1.59%
• 1M: 17.04%
• YTD: 43.60%
• 6M: 48.06%
• 1Y: 158.47%
• 3Y*: 67.44%
• 5Y*: 38.38%
• 10Y*: —

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

MDA.TO vs. ATZ.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MDA.TO MDA Space Ltd.	95.80%	-9.79%	156.34%	80.00%	-32.63%	-32.81%
ATZ.TO Aritzia Inc.	43.60%	119.59%	94.33%	-41.92%	-9.55%	65.98%

Correlation

The correlation between MDA.TO and ATZ.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Apr 7, 2021	0.20

Fundamentals

Market Cap MDA.TO : CA$6.92B ATZ.TO : CA$20.25B
EPS MDA.TO : CA$0.81 ATZ.TO : CA$3.19
PE Ratio MDA.TO : 64.10 ATZ.TO : 52.81
PEG Ratio MDA.TO : 0.26 ATZ.TO : 1.05
PS Ratio MDA.TO : 3.86 ATZ.TO : 5.45
PB Ratio MDA.TO : 3.75 ATZ.TO : 14.88
Total Revenue (TTM) MDA.TO : CA$1.75B ATZ.TO : CA$3.70B
Gross Profit (TTM) MDA.TO : CA$366.40M ATZ.TO : CA$1.65B
EBITDA (TTM) MDA.TO : CA$291.70M ATZ.TO : CA$736.90M

Return for Risk

MDA.TO vs. ATZ.TO — Risk / Return Rank

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

MDA.TO

MDA.TO Risk / Return Rank: 73
MDA.TO Sharpe Ratio Rank: 78
MDA.TO Sortino Ratio Rank: 72
MDA.TO Omega Ratio Rank: 75
MDA.TO Calmar Ratio Rank: 70
MDA.TO Martin Ratio Rank: 69

ATZ.TO

ATZ.TO Risk / Return Rank: 96
ATZ.TO Sharpe Ratio Rank: 98
ATZ.TO Sortino Ratio Rank: 96
ATZ.TO Omega Ratio Rank: 96
ATZ.TO Calmar Ratio Rank: 95
ATZ.TO Martin Ratio Rank: 95

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.

MDA.TO vs. ATZ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MDA Space Ltd. (MDA.TO) and Aritzia Inc. (ATZ.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.

	MDA.TO	ATZ.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.19	4.05	-2.86
Sortino ratio: Return per unit of downside risk	1.72	4.28	-2.56
Omega ratio: Gain probability vs. loss probability	1.24	1.57	-0.32
Calmar ratio: Return relative to maximum drawdown	1.43	6.47	-5.03
Martin ratio: Return relative to average drawdown	3.07	18.39	-15.32

MDA.TO vs. ATZ.TO - Sharpe Ratio Comparison

The current MDA.TO Sharpe Ratio is 1.19, which is lower than the ATZ.TO Sharpe Ratio of 4.05. The chart below compares the historical Sharpe Ratios of MDA.TO and ATZ.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MDA.TO vs. ATZ.TO - Drawdown Comparison

The maximum MDA.TO drawdown since its inception was -68.33%, which is greater than ATZ.TO's maximum drawdown of -64.82%. Use the drawdown chart below to compare losses from any high point for MDA.TO and ATZ.TO.

Drawdown Indicators

	MDA.TO	ATZ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-68.33%	-64.82%	-3.51%
Max Drawdown (1Y) Largest decline over 1 year	-53.77%	-23.22%	-30.55%
Max Drawdown (3Y) Largest decline over 3 years	-53.77%	-46.84%	-6.93%
Max Drawdown (5Y) Largest decline over 5 years	-65.68%	-64.82%	-0.86%
Current Drawdown Current decline from peak	-22.30%	0.00%	-22.30%
Average Drawdown Average peak-to-trough decline	-30.65%	-20.12%	-10.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.08%	8.15%	+16.93%

Volatility

MDA.TO vs. ATZ.TO - Volatility Comparison

MDA Space Ltd. (MDA.TO) has a higher volatility of 21.96% compared to Aritzia Inc. (ATZ.TO) at 10.40%. This indicates that MDA.TO's price experiences larger fluctuations and is considered to be riskier than ATZ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDA.TO	ATZ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.96%	10.40%	+11.56%
Volatility (6M) Calculated over the trailing 6-month period	45.64%	30.77%	+14.87%
Volatility (1Y) Calculated over the trailing 1-year period	65.12%	37.12%	+28.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.43%	46.69%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.45%	43.07%	+6.38%

Dividends

MDA.TO vs. ATZ.TO - Dividend Comparison

Neither MDA.TO nor ATZ.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

MDA.TO vs. ATZ.TO - Profitability Comparison

The chart below illustrates the profitability comparison between MDA Space Ltd. and Aritzia Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MDA.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MDA Space Ltd. reported a gross profit of 84.00M and revenue of 464.10M. Therefore, the gross margin over that period was 18.1%.

ATZ.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aritzia Inc. reported a gross profit of 507.19M and revenue of 1.19B. Therefore, the gross margin over that period was 42.8%.

MDA.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MDA Space Ltd. reported an operating income of 32.30M and revenue of 464.10M, resulting in an operating margin of 7.0%.

ATZ.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aritzia Inc. reported an operating income of 183.02M and revenue of 1.19B, resulting in an operating margin of 15.4%.

MDA.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MDA Space Ltd. reported a net income of 29.60M and revenue of 464.10M, resulting in a net margin of 6.4%.

ATZ.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aritzia Inc. reported a net income of 134.27M and revenue of 1.19B, resulting in a net margin of 11.3%.

Frequently Asked Questions

Can I hold both MDA.TO and ATZ.TO in my portfolio?

MDA.TO and ATZ.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.