RY.TO vs. AON
RY.TO (Royal Bank of Canada) and AON (Aon plc) are both stocks. Both are in the Financial Services sector — RY.TO in Banks - Diversified, AON in Insurance Brokers. Over the past 10 years, RY.TO returned 18.12%/yr vs 14.07%/yr for AON. At a 0.28 correlation, their price movements are largely independent.
Performance
RY.TO vs. AON - Performance Comparison
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Different Trading Currencies
RY.TO is traded in CAD, while AON is traded in USD. To make them comparable, the AON values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, RY.TO achieves a 20.87% return, which is significantly higher than AON's -2.59% return. Over the past 10 years, RY.TO has outperformed AON with an annualized return of 18.12%, while AON has yielded a comparatively lower 14.07% annualized return.
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%
AON
- 1D
- 0.23%
- 1M
- 7.62%
- YTD
- -2.59%
- 6M
- -3.41%
- 1Y
- -1.50%
- 3Y*
- 4.08%
- 5Y*
- 10.02%
- 10Y*
- 14.07%
RY.TO vs. AON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
AON Aon plc | -2.59% | -5.46% | 34.99% | -4.63% | 6.99% | 43.32% | -0.06% | 38.71% | 19.19% | 13.26% |
Correlation
The correlation between RY.TO and AON is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.28 |
Over the past year, the correlation between RY.TO and AON has dropped to 0.05 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
Fundamentals
RY.TO:
CA$389.54B
AON:
$72.23B
RY.TO:
CA$15.77
AON:
$18.21
RY.TO:
17.69
AON:
18.41
RY.TO:
2.60
AON:
0.47
RY.TO:
3.25
AON:
4.15
RY.TO:
3.01
AON:
7.34
RY.TO:
CA$120.33B
AON:
$17.49B
RY.TO:
CA$65.64B
AON:
$9.77B
RY.TO:
CA$14.74B
AON:
$6.55B
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Return for Risk
RY.TO vs. AON — Risk / Return Rank
RY.TO
AON
RY.TO vs. AON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royal Bank of Canada (RY.TO) and Aon plc (AON). 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.
| RY.TO | AON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.76 | ||
| Sortino ratioReturn per unit of downside risk | +6.60 | ||
| Omega ratioGain probability vs. loss probability | 1.85 | 1.00 | +0.85 |
| Calmar ratioReturn relative to maximum drawdown | 7.91 | -0.15 | +8.06 |
| Martin ratioReturn relative to average drawdown | 29.39 | -0.28 | +29.67 |
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Drawdowns
RY.TO vs. AON - Drawdown Comparison
The maximum RY.TO drawdown since its inception was -54.03%, which is greater than AON's maximum drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for RY.TO and AON.
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Drawdown Indicators
| RY.TO | AON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.03% | -38.35% | -15.68% |
Max Drawdown (1Y)Largest decline over 1 year | -8.12% | -19.09% | +10.97% |
Max Drawdown (3Y)Largest decline over 3 years | -16.00% | -28.33% | +12.33% |
Max Drawdown (5Y)Largest decline over 5 years | -21.21% | -28.33% | +7.12% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | -33.15% | -0.69% |
Current DrawdownCurrent decline from peak | 0.00% | -19.85% | +19.85% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -8.90% | +2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 9.84% | -7.66% |
Volatility
RY.TO vs. AON - Volatility Comparison
The current volatility for Royal Bank of Canada (RY.TO) is 4.23%, while Aon plc (AON) has a volatility of 5.93%. This indicates that RY.TO experiences smaller price fluctuations and is considered to be less risky than AON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RY.TO | AON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 5.93% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 20.16% | -9.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.82% | 24.45% | -10.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.93% | 23.98% | -9.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 24.19% | -6.93% |
Dividends
RY.TO vs. AON - Dividend Comparison
RY.TO's dividend yield for the trailing twelve months is around 2.28%, more than AON's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | 0.91% | 0.82% | 0.74% | 0.83% | 0.73% | 0.66% | 0.84% | 0.83% | 1.35% | 1.05% | 1.16% | 1.25% |
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
RY.TO vs. AON - Financials Comparison
This section allows you to compare key financial metrics between Royal Bank of Canada and Aon plc. 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
RY.TO vs. AON - Profitability Comparison
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%.
AON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aon plc reported a gross profit of 2.64B and revenue of 5.03B. Therefore, the gross margin over that period was 52.5%.
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%.
AON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aon plc reported an operating income of 1.72B and revenue of 5.03B, resulting in an operating margin of 34.1%.
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%.
AON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aon plc reported a net income of 1.21B and revenue of 5.03B, resulting in a net margin of 24.1%.
Frequently Asked Questions
RY.TO and AON have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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