RY vs. BMO

Last updated Apr 1, 2026

Compare and contrast key facts about Royal Bank of Canada (RY) and Bank of Montreal (BMO).

Performance

RY vs. BMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royal Bank of Canada (RY) and Bank of Montreal (BMO). The values are adjusted to include any dividend payments, if applicable.

RY vs. BMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RY Royal Bank of Canada	-4.43%	46.29%	23.80%	12.72%	-8.00%	34.11%	8.42%	20.17%	-12.88%	24.95%
BMO Bank of Montreal	5.20%	39.59%	2.98%	15.24%	-12.41%	48.15%	3.34%	23.51%	-15.02%	16.63%

Fundamentals

Market Cap RY : $166.45B BMO : $96.11B
EPS RY : $15.98 BMO : $12.59
PE Ratio RY : 10.12 BMO : 10.75
PEG Ratio RY : 1.47 BMO : 0.49
PS Ratio RY : 1.55 BMO : 1.46
PB Ratio RY : 1.29 BMO : 1.14
Total Revenue (TTM) RY : $137.63B BMO : $66.79B
Gross Profit (TTM) RY : $63.36B BMO : $33.35B
EBITDA (TTM) RY : $29.23B BMO : $13.90B

Returns By Period

In the year-to-date period, RY achieves a -4.43% return, which is significantly lower than BMO's 5.20% return. Over the past 10 years, RY has outperformed BMO with an annualized return of 15.24%, while BMO has yielded a comparatively lower 13.45% annualized return.

RY

• 1D: 2.49%
• 1M: -3.26%
• YTD: -4.43%
• 6M: 11.43%
• 1Y: 48.21%
• 3Y*: 23.86%
• 5Y*: 16.15%
• 10Y*: 15.24%

BMO

• 1D: 2.87%
• 1M: -5.97%
• YTD: 5.20%
• 6M: 5.81%
• 1Y: 47.58%
• 3Y*: 20.58%
• 5Y*: 13.56%
• 10Y*: 13.45%

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

Return for Risk

RY vs. BMO — Risk / Return Rank

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

RY

RY Risk / Return Rank: 96
RY Sharpe Ratio Rank: 96
RY Sortino Ratio Rank: 97
RY Omega Ratio Rank: 96
RY Calmar Ratio Rank: 94
RY Martin Ratio Rank: 96

BMO

BMO Risk / Return Rank: 93
BMO Sharpe Ratio Rank: 94
BMO Sortino Ratio Rank: 92
BMO Omega Ratio Rank: 93
BMO Calmar Ratio Rank: 91
BMO Martin Ratio Rank: 94

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.

RY vs. BMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Bank of Canada (RY) and Bank of Montreal (BMO). 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.

	RY	BMO	Difference
Sharpe ratio Return per unit of total volatility	2.91	2.36	+0.55
Sortino ratio Return per unit of downside risk	4.05	2.97	+1.08
Omega ratio Gain probability vs. loss probability	1.53	1.43	+0.10
Calmar ratio Return relative to maximum drawdown	4.88	4.13	+0.75
Martin ratio Return relative to average drawdown	18.67	14.63	+4.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RY vs. BMO - Sharpe Ratio Comparison

The current RY Sharpe Ratio is 2.91, which is comparable to the BMO Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of RY and BMO, 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

	RY	BMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.91	2.36	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.64	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.57	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.55	+0.07

Correlation

The correlation between RY and BMO is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

RY vs. BMO - Dividend Comparison

RY's dividend yield for the trailing twelve months is around 2.78%, less than BMO's 3.50% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RY Royal Bank of Canada	2.78%	2.54%	3.39%	4.29%	4.07%	3.24%	3.88%	3.88%	4.27%	3.22%	3.95%	5.41%
BMO Bank of Montreal	3.50%	3.55%	4.60%	4.76%	4.62%	3.95%	4.15%	3.96%	4.78%	4.45%	4.73%	5.74%

Drawdowns

RY vs. BMO - Drawdown Comparison

The maximum RY drawdown since its inception was -62.90%, smaller than the maximum BMO drawdown of -68.17%. Use the drawdown chart below to compare losses from any high point for RY and BMO.

Drawdown Indicators

	RY	BMO	Difference
Max Drawdown Largest peak-to-trough decline	-62.90%	-68.17%	+5.27%
Max Drawdown (1Y) Largest decline over 1 year	-10.04%	-11.62%	+1.58%
Max Drawdown (5Y) Largest decline over 5 years	-28.36%	-33.94%	+5.58%
Max Drawdown (10Y) Largest decline over 10 years	-39.95%	-50.97%	+11.02%
Current Drawdown Current decline from peak	-7.80%	-9.08%	+1.28%
Average Drawdown Average peak-to-trough decline	-9.37%	-11.49%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	3.28%	-0.66%

Volatility

RY vs. BMO - Volatility Comparison

The current volatility for Royal Bank of Canada (RY) is 5.19%, while Bank of Montreal (BMO) has a volatility of 8.03%. This indicates that RY experiences smaller price fluctuations and is considered to be less risky than BMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RY	BMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	8.03%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	10.79%	15.00%	-4.21%
Volatility (1Y) Calculated over the trailing 1-year period	16.65%	20.30%	-3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	21.23%	-3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.81%	23.62%	-3.81%

Financials

RY vs. BMO - Profitability Comparison

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

RY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Royal Bank of Canada reported a gross profit of 16.86B and revenue of 35.50B. Therefore, the gross margin over that period was 47.5%.

BMO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Bank of Montreal reported a gross profit of 9.08B and revenue of 9.08B. Therefore, the gross margin over that period was 100.0%.

RY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Royal Bank of Canada reported an operating income of 7.42B and revenue of 35.50B, resulting in an operating margin of 20.9%.

BMO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Bank of Montreal reported an operating income of 3.89B and revenue of 9.08B, resulting in an operating margin of 42.8%.

RY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Royal Bank of Canada reported a net income of 5.79B and revenue of 35.50B, resulting in a net margin of 16.3%.

BMO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Bank of Montreal reported a net income of 2.49B and revenue of 9.08B, resulting in a net margin of 27.4%.