TA.TO vs. FTS.TO

Last updated Apr 1, 2026

Compare and contrast key facts about TransAlta Corporation (TA.TO) and Fortis Inc. (FTS.TO).

Performance

TA.TO vs. FTS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TransAlta Corporation (TA.TO) and Fortis Inc. (FTS.TO). The values are adjusted to include any dividend payments, if applicable.

TA.TO vs. FTS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TA.TO TransAlta Corporation	5.74%	-13.24%	88.48%	-7.32%	-12.42%	47.57%	6.20%	69.12%	-23.22%	2.43%
FTS.TO Fortis Inc.	9.66%	23.93%	14.24%	4.76%	-7.87%	21.81%	0.04%	22.71%	2.74%	15.29%

Fundamentals

Market Cap TA.TO : CA$5.43B FTS.TO : CA$39.32B
EPS TA.TO : -CA$0.46 FTS.TO : CA$3.56
PS Ratio TA.TO : 2.29 FTS.TO : 3.22
PB Ratio TA.TO : 11.89 FTS.TO : 1.77
Total Revenue (TTM) TA.TO : CA$2.41B FTS.TO : CA$12.17B
Gross Profit (TTM) TA.TO : CA$732.00M FTS.TO : CA$4.52B
EBITDA (TTM) TA.TO : CA$638.00M FTS.TO : CA$5.89B

Returns By Period

In the year-to-date period, TA.TO achieves a 5.74% return, which is significantly lower than FTS.TO's 9.66% return. Over the past 10 years, TA.TO has outperformed FTS.TO with an annualized return of 14.01%, while FTS.TO has yielded a comparatively lower 10.75% annualized return.

TA.TO

• 1D: 3.10%
• 1M: -2.45%
• YTD: 5.74%
• 6M: -3.12%
• 1Y: 38.31%
• 3Y*: 17.78%
• 5Y*: 10.52%
• 10Y*: 14.01%

FTS.TO

• 1D: -0.58%
• 1M: -1.10%
• YTD: 9.66%
• 6M: 11.84%
• 1Y: 22.65%
• 3Y*: 14.94%
• 5Y*: 11.53%
• 10Y*: 10.75%

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

Return for Risk

TA.TO vs. FTS.TO — Risk / Return Rank

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

TA.TO

TA.TO Risk / Return Rank: 67
TA.TO Sharpe Ratio Rank: 74
TA.TO Sortino Ratio Rank: 67
TA.TO Omega Ratio Rank: 67
TA.TO Calmar Ratio Rank: 65
TA.TO Martin Ratio Rank: 62

FTS.TO

FTS.TO Risk / Return Rank: 87
FTS.TO Sharpe Ratio Rank: 88
FTS.TO Sortino Ratio Rank: 86
FTS.TO Omega Ratio Rank: 82
FTS.TO Calmar Ratio Rank: 90
FTS.TO Martin Ratio Rank: 86

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.

TA.TO vs. FTS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TransAlta Corporation (TA.TO) and Fortis Inc. (FTS.TO). 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.

	TA.TO	FTS.TO	Difference
Sharpe ratio Return per unit of total volatility	0.97	1.69	-0.72
Sortino ratio Return per unit of downside risk	1.47	2.46	-0.99
Omega ratio Gain probability vs. loss probability	1.20	1.30	-0.10
Calmar ratio Return relative to maximum drawdown	1.08	3.87	-2.78
Martin ratio Return relative to average drawdown	2.16	8.05	-5.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TA.TO vs. FTS.TO - Sharpe Ratio Comparison

The current TA.TO Sharpe Ratio is 0.97, which is lower than the FTS.TO Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of TA.TO and FTS.TO, 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

	TA.TO	FTS.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	1.69	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.82	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.64	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.65	—

Correlation

The correlation between TA.TO and FTS.TO is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TA.TO vs. FTS.TO - Dividend Comparison

TA.TO's dividend yield for the trailing twelve months is around 1.42%, less than FTS.TO's 3.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TA.TO TransAlta Corporation	1.42%	1.47%	1.18%	2.00%	1.69%	1.32%	1.75%	1.72%	2.86%	2.15%	2.15%	14.66%
FTS.TO Fortis Inc.	3.23%	3.48%	3.99%	4.19%	4.01%	3.36%	3.73%	3.39%	3.79%	3.52%	3.68%	3.73%

Drawdowns

TA.TO vs. FTS.TO - Drawdown Comparison

The maximum TA.TO drawdown since its inception was -100.01%, which is greater than FTS.TO's maximum drawdown of -35.48%. Use the drawdown chart below to compare losses from any high point for TA.TO and FTS.TO.

Drawdown Indicators

	TA.TO	FTS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-100.01%	-35.48%	-64.53%
Max Drawdown (1Y) Largest decline over 1 year	-34.12%	-6.22%	-27.90%
Max Drawdown (5Y) Largest decline over 5 years	-44.20%	-24.01%	-20.19%
Max Drawdown (10Y) Largest decline over 10 years	-50.61%	-28.27%	-22.34%
Current Drawdown Current decline from peak	-100.00%	-3.11%	-96.89%
Average Drawdown Average peak-to-trough decline	-99.53%	-6.54%	-92.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.12%	2.99%	+14.13%

Volatility

TA.TO vs. FTS.TO - Volatility Comparison

TransAlta Corporation (TA.TO) has a higher volatility of 11.78% compared to Fortis Inc. (FTS.TO) at 4.35%. This indicates that TA.TO's price experiences larger fluctuations and is considered to be riskier than FTS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TA.TO	FTS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.78%	4.35%	+7.43%
Volatility (6M) Calculated over the trailing 6-month period	30.21%	9.53%	+20.68%
Volatility (1Y) Calculated over the trailing 1-year period	39.67%	13.46%	+26.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.68%	14.23%	+17.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.03%	16.81%	+15.22%

Financials

TA.TO vs. FTS.TO - Profitability Comparison

The chart below illustrates the profitability comparison between TransAlta Corporation and Fortis Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TA.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, TransAlta Corporation reported a gross profit of 138.00M and revenue of 599.00M. Therefore, the gross margin over that period was 23.0%.

FTS.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Fortis Inc. reported a gross profit of 868.00M and revenue of 3.08B. Therefore, the gross margin over that period was 28.2%.

TA.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, TransAlta Corporation reported an operating income of -90.00M and revenue of 599.00M, resulting in an operating margin of -15.0%.

FTS.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Fortis Inc. reported an operating income of 868.00M and revenue of 3.08B, resulting in an operating margin of 28.2%.

TA.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, TransAlta Corporation reported a net income of -36.00M and revenue of 599.00M, resulting in a net margin of -6.0%.

FTS.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Fortis Inc. reported a net income of 444.00M and revenue of 3.08B, resulting in a net margin of 14.4%.