SLF.TO vs. ^TNX

Last updated Jun 9, 2026

SLF.TO (Sun Life Financial Inc.) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, SLF.TO returned 13.36%/yr vs 11.77%/yr for ^TNX. At a 0.23 correlation, their price movements are largely independent.

Performance

SLF.TO vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Sun Life Financial Inc. (SLF.TO) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SLF.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SLF.TO achieves a 22.26% return, which is significantly higher than ^TNX's 11.34% return. Over the past 10 years, SLF.TO has outperformed ^TNX with an annualized return of 13.36%, while ^TNX has yielded a comparatively lower 11.77% annualized return.

SLF.TO

• 1D: -0.12%
• 1M: 8.16%
• YTD: 22.26%
• 6M: 29.16%
• 1Y: 19.79%
• 3Y*: 20.10%
• 5Y*: 14.49%
• 10Y*: 13.36%

^TNX

• 1D: 0.63%
• 1M: 6.47%
• YTD: 11.34%
• 6M: 9.97%
• 1Y: 2.98%
• 3Y*: 8.25%
• 5Y*: 28.62%
• 10Y*: 11.77%

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

SLF.TO vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLF.TO Sun Life Financial Inc.	22.26%	4.75%	29.69%	14.37%	-6.73%	28.82%	-0.52%	35.86%	-9.44%	4.39%
^TNX Treasury Yield 10 Years	11.34%	-13.12%	28.30%	-2.71%	172.80%	64.80%	-53.35%	-31.50%	21.07%	-8.33%

Correlation

The correlation between SLF.TO and ^TNX is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jul 6, 2006	0.23

The correlation between SLF.TO and ^TNX shifts across timeframes, from -0.17 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SLF.TO vs. ^TNX — Risk / Return Rank

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

SLF.TO

SLF.TO Risk / Return Rank: 69
SLF.TO Sharpe Ratio Rank: 73
SLF.TO Sortino Ratio Rank: 64
SLF.TO Omega Ratio Rank: 68
SLF.TO Calmar Ratio Rank: 69
SLF.TO Martin Ratio Rank: 70

^TNX

^TNX Risk / Return Rank: 13
^TNX Sharpe Ratio Rank: 13
^TNX Sortino Ratio Rank: 14
^TNX Omega Ratio Rank: 13
^TNX Calmar Ratio Rank: 13
^TNX Martin Ratio Rank: 12

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.

SLF.TO vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sun Life Financial Inc. (SLF.TO) and Treasury Yield 10 Years (^TNX). 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.

	SLF.TO	^TNX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	0.19	+0.83
Sortino ratio: Return per unit of downside risk	1.38	0.39	+1.00
Omega ratio: Gain probability vs. loss probability	1.21	1.04	+0.17
Calmar ratio: Return relative to maximum drawdown	1.41	0.25	+1.16
Martin ratio: Return relative to average drawdown	3.42	0.50	+2.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLF.TO vs. ^TNX - Sharpe Ratio Comparison

The current SLF.TO Sharpe Ratio is 1.02, which is higher than the ^TNX Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of SLF.TO and ^TNX, 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

	SLF.TO	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	0.19	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.87	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.24	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.01	+0.31

Drawdowns

SLF.TO vs. ^TNX - Drawdown Comparison

The maximum SLF.TO drawdown since its inception was -71.53%, smaller than the maximum ^TNX drawdown of -89.94%. Use the drawdown chart below to compare losses from any high point for SLF.TO and ^TNX.

Drawdown Indicators

	SLF.TO	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-71.53%	-89.94%	+18.41%
Max Drawdown (1Y) Largest decline over 1 year	-14.08%	-11.93%	-2.15%
Max Drawdown (3Y) Largest decline over 3 years	-14.08%	-28.13%	+14.05%
Max Drawdown (5Y) Largest decline over 5 years	-24.48%	-28.13%	+3.65%
Max Drawdown (10Y) Largest decline over 10 years	-45.99%	-83.97%	+37.98%
Current Drawdown Current decline from peak	-0.12%	-8.32%	+8.20%
Average Drawdown Average peak-to-trough decline	-15.64%	-44.81%	+29.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.80%	6.10%	-0.30%

Volatility

SLF.TO vs. ^TNX - Volatility Comparison

The current volatility for Sun Life Financial Inc. (SLF.TO) is 4.26%, while Treasury Yield 10 Years (^TNX) has a volatility of 4.86%. This indicates that SLF.TO experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLF.TO	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	4.86%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	11.33%	+2.47%
Volatility (1Y) Calculated over the trailing 1-year period	19.45%	15.48%	+3.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	33.03%	-16.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	48.65%	-28.20%

Frequently Asked Questions

Can I hold both SLF.TO and ^TNX in my portfolio?

SLF.TO and ^TNX have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.