MFC vs. CM
MFC (Manulife Financial Corporation) and CM (Canadian Imperial Bank of Commerce) are both stocks. Both are in the Financial Services sector — MFC in Insurance - Life, CM in Banks - Diversified. Over the past 10 years, MFC returned 16.48%/yr vs 17.46%/yr for CM. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
MFC vs. CM - Performance Comparison
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Returns By Period
In the year-to-date period, MFC achieves a 13.26% return, which is significantly lower than CM's 26.25% return. Over the past 10 years, MFC has underperformed CM with an annualized return of 16.48%, while CM has yielded a comparatively higher 17.46% annualized return.
MFC
- 1D
- 1.31%
- 1M
- 2.09%
- YTD
- 13.26%
- 6M
- 15.81%
- 1Y
- 30.35%
- 3Y*
- 33.59%
- 5Y*
- 20.37%
- 10Y*
- 16.48%
CM
- 1D
- 1.45%
- 1M
- 3.08%
- YTD
- 26.25%
- 6M
- 24.24%
- 1Y
- 72.09%
- 3Y*
- 45.12%
- 5Y*
- 19.94%
- 10Y*
- 17.46%
MFC vs. CM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFC Manulife Financial Corporation | 13.26% | 22.95% | 45.75% | 31.13% | -1.18% | 12.17% | -7.18% | 49.19% | -29.89% | 22.17% |
CM Canadian Imperial Bank of Commerce | 26.25% | 49.02% | 37.83% | 27.23% | -25.71% | 42.29% | 9.25% | 19.22% | -19.75% | 26.58% |
Correlation
The correlation between MFC and CM is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 1999 | 0.59 |
The correlation between MFC and CM shifts across timeframes, from 0.48 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MFC:
$48.69B
CM:
$77.15B
MFC:
CA$4.06
CM:
CA$12.14
MFC:
13.89
CM:
13.06
MFC:
4.87
CM:
1.61
MFC:
1.12
CM:
2.07
MFC:
1.54
CM:
1.85
MFC:
CA$79.35B
CM:
CA$61.84B
MFC:
CA$26.46B
CM:
CA$28.74B
MFC:
CA$8.26B
CM:
CA$13.01B
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Return for Risk
MFC vs. CM — Risk / Return Rank
MFC
CM
MFC vs. CM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Financial Corporation (MFC) and Canadian Imperial Bank of Commerce (CM). 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.
| MFC | CM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.64 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 6.72 | -4.28 |
| Martin ratioReturn relative to average drawdown | 6.98 | 26.46 | -19.48 |
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Drawdowns
MFC vs. CM - Drawdown Comparison
The maximum MFC drawdown since its inception was -83.61%, which is greater than CM's maximum drawdown of -71.70%. Use the drawdown chart below to compare losses from any high point for MFC and CM.
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Drawdown Indicators
| MFC | CM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.61% | -71.70% | -11.91% |
Max Drawdown (1Y)Largest decline over 1 year | -12.49% | -10.79% | -1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -16.75% | -19.47% | +2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -26.99% | -40.61% | +13.62% |
Max Drawdown (10Y)Largest decline over 10 years | -57.44% | -47.82% | -9.62% |
Current DrawdownCurrent decline from peak | 0.00% | -2.00% | +2.00% |
Average DrawdownAverage peak-to-trough decline | -29.39% | -14.65% | -14.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | 2.73% | +1.70% |
Volatility
MFC vs. CM - Volatility Comparison
Manulife Financial Corporation (MFC) and Canadian Imperial Bank of Commerce (CM) have volatilities of 8.02% and 7.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFC | CM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.02% | 7.83% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.87% | 15.94% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.74% | 18.95% | +1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.12% | 21.42% | +2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.39% | 22.61% | +5.78% |
Dividends
MFC vs. CM - Dividend Comparison
MFC's dividend yield for the trailing twelve months is around 3.31%, more than CM's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 2.61% | 3.17% | 4.21% | 5.88% | 7.77% | 4.08% | 5.06% | 6.47% | 5.48% | 5.28% | 5.93% | 6.71% |
MFC Manulife Financial Corporation | 3.31% | 3.45% | 4.16% | 4.86% | 5.71% | 4.91% | 4.70% | 3.71% | 4.08% | 3.93% | 4.15% | 5.38% |
Financials
MFC vs. CM - Financials Comparison
This section allows you to compare key financial metrics between Manulife Financial Corporation and Canadian Imperial Bank of Commerce. 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
MFC vs. CM - Profitability Comparison
MFC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Manulife Financial Corporation reported a gross profit of 12.31B and revenue of 12.31B. Therefore, the gross margin over that period was 100.0%.
CM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a gross profit of 7.36B and revenue of 15.22B. Therefore, the gross margin over that period was 48.4%.
MFC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Manulife Financial Corporation reported an operating income of 1.47B and revenue of 12.31B, resulting in an operating margin of 11.9%.
CM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported an operating income of 3.20B and revenue of 15.22B, resulting in an operating margin of 21.0%.
MFC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Manulife Financial Corporation reported a net income of 1.20B and revenue of 12.31B, resulting in a net margin of 9.7%.
CM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a net income of 2.46B and revenue of 15.22B, resulting in a net margin of 16.1%.
Frequently Asked Questions
MFC and CM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFC has higher volatility (8.02%) compared to CM (7.83%). In terms of maximum drawdown, MFC dropped -83.61% vs CM's -71.70%.
CM currently has the higher Sharpe Ratio (3.82 vs 1.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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