RYAN vs. AON

Last updated Jun 4, 2026

RYAN (Ryan Specialty Group Holdings, Inc.) and AON (Aon plc) are both stocks. Both are in the Financial Services sector — RYAN in Insurance - Specialty, AON in Insurance Brokers. Over the past 3 years, RYAN returned -8.86%/yr vs 1.04%/yr for AON. At a 0.50 correlation, their price movements are largely independent.

Performance

RYAN vs. AON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ryan Specialty Group Holdings, Inc. (RYAN) and Aon plc (AON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYAN achieves a -39.78% return, which is significantly lower than AON's -10.14% return.

RYAN

• 1D: -4.43%
• 1M: 4.48%
• YTD: -39.78%
• 6M: -45.31%
• 1Y: -56.08%
• 3Y*: -8.86%
• 5Y*: —
• 10Y*: —

AON

• 1D: -0.71%
• 1M: 0.22%
• YTD: -10.14%
• 6M: -7.94%
• 1Y: -14.96%
• 3Y*: 1.04%
• 5Y*: 5.52%
• 10Y*: 12.29%

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

RYAN vs. AON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RYAN Ryan Specialty Group Holdings, Inc.	-39.78%	-18.92%	50.88%	3.64%	2.87%	46.73%
AON Aon plc	-10.14%	-0.94%	24.45%	-2.31%	0.61%	29.72%

Correlation

The correlation between RYAN and AON is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jul 23, 2021	0.50

The correlation between RYAN and AON has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

Fundamentals

EPS RYAN : $0.64 AON : $18.21
PE Ratio RYAN : 48.42 AON : 17.33
PS Ratio RYAN : 2.02 AON : 3.91
Total Revenue (TTM) RYAN : $3.16B AON : $17.49B
Gross Profit (TTM) RYAN : $2.19B AON : $9.77B
EBITDA (TTM) RYAN : $726.81M AON : $6.55B

Return for Risk

RYAN vs. AON — Risk / Return Rank

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

RYAN

RYAN Risk / Return Rank: 2
RYAN Sharpe Ratio Rank: 1
RYAN Sortino Ratio Rank: 1
RYAN Omega Ratio Rank: 2
RYAN Calmar Ratio Rank: 2
RYAN Martin Ratio Rank: 2

AON

AON Risk / Return Rank: 11
AON Sharpe Ratio Rank: 14
AON Sortino Ratio Rank: 15
AON Omega Ratio Rank: 15
AON Calmar Ratio Rank: 7
AON Martin Ratio Rank: 3

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.

RYAN vs. AON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ryan Specialty Group Holdings, Inc. (RYAN) 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.

	RYAN	AON	Difference
Sharpe ratio: Return per unit of total volatility	-1.42	-0.63	-0.79
Sortino ratio: Return per unit of downside risk	-2.30	-0.74	-1.56
Omega ratio: Gain probability vs. loss probability	0.71	0.90	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.97	-0.87	-0.10
Martin ratio: Return relative to average drawdown	-1.73	-1.62	-0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYAN vs. AON - Sharpe Ratio Comparison

The current RYAN Sharpe Ratio is -1.42, which is lower than the AON Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of RYAN and AON, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RYAN	AON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.42	-0.63	-0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.42	-0.33

Drawdowns

RYAN vs. AON - Drawdown Comparison

The maximum RYAN drawdown since its inception was -60.94%, smaller than the maximum AON drawdown of -69.05%. Use the drawdown chart below to compare losses from any high point for RYAN and AON.

Drawdown Indicators

	RYAN	AON	Difference
Max Drawdown Largest peak-to-trough decline	-60.94%	-69.05%	+8.11%
Max Drawdown (1Y) Largest decline over 1 year	-57.75%	-17.28%	-40.47%
Max Drawdown (3Y) Largest decline over 3 years	-60.94%	-23.84%	-37.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.73%	—
Current Drawdown Current decline from peak	-58.81%	-22.03%	-36.78%
Average Drawdown Average peak-to-trough decline	-12.29%	-13.67%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.13%	9.29%	+23.84%

Volatility

RYAN vs. AON - Volatility Comparison

Ryan Specialty Group Holdings, Inc. (RYAN) has a higher volatility of 14.73% compared to Aon plc (AON) at 5.77%. This indicates that RYAN's price experiences larger fluctuations and is considered to be riskier than AON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYAN	AON	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.73%	5.77%	+8.96%
Volatility (6M) Calculated over the trailing 6-month period	33.29%	19.33%	+13.96%
Volatility (1Y) Calculated over the trailing 1-year period	39.55%	23.72%	+15.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.38%	23.08%	+11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.38%	23.43%	+10.95%

Dividends

RYAN vs. AON - Dividend Comparison

RYAN's dividend yield for the trailing twelve months is around 1.62%, more than AON's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AON Aon plc	0.97%	0.82%	0.74%	0.83%	0.73%	0.66%	0.84%	0.83%	1.35%	1.05%	1.16%	1.25%
RYAN Ryan Specialty Group Holdings, Inc.	1.62%	0.93%	1.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

RYAN vs. AON - Profitability Comparison

The chart below illustrates the profitability comparison between Ryan Specialty Group Holdings, Inc. and Aon plc over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

RYAN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ryan Specialty Group Holdings, Inc. reported a gross profit of 300.05M and revenue of 795.23M. Therefore, the gross margin over that period was 37.7%.

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%.

RYAN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ryan Specialty Group Holdings, Inc. reported an operating income of 94.60M and revenue of 795.23M, resulting in an operating margin of 11.9%.

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%.

RYAN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ryan Specialty Group Holdings, Inc. reported a net income of 40.60M and revenue of 795.23M, resulting in a net margin of 5.1%.

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

Can I hold both RYAN and AON in my portfolio?

RYAN and AON have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYAN or AON?

RYAN has higher volatility (14.73%) compared to AON (5.77%). In terms of maximum drawdown, RYAN dropped -60.94% vs AON's -69.05%.

Which has better risk-adjusted returns?

AON currently has the higher Sharpe Ratio (-0.63 vs -1.42), 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.