TD.TO vs. AQN.TO
TD.TO (The Toronto-Dominion Bank) and AQN.TO (Algonquin Power & Utilities Corp.) are both stocks. TD.TO operates in Banks - Diversified (Financial Services), while AQN.TO operates in Utilities - Renewable (Utilities). Over the past 10 years, TD.TO returned 16.14%/yr vs 1.17%/yr for AQN.TO. At a 0.20 correlation, their price movements are largely independent.
Performance
TD.TO vs. AQN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TD.TO achieves a 29.06% return, which is significantly higher than AQN.TO's 0.57% return. Over the past 10 years, TD.TO has outperformed AQN.TO with an annualized return of 16.14%, while AQN.TO has yielded a comparatively lower 1.17% annualized return.
TD.TO
- 1D
- 0.16%
- 1M
- 10.77%
- YTD
- 29.06%
- 6M
- 31.71%
- 1Y
- 76.96%
- 3Y*
- 32.62%
- 5Y*
- 18.35%
- 10Y*
- 16.14%
AQN.TO
- 1D
- 0.96%
- 1M
- 5.79%
- YTD
- 0.57%
- 6M
- 4.51%
- 1Y
- 10.64%
- 3Y*
- -3.64%
- 5Y*
- -10.86%
- 10Y*
- 1.17%
TD.TO vs. AQN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TD.TO The Toronto-Dominion Bank | 29.06% | 77.06% | -6.05% | 2.34% | -6.01% | 40.15% | 3.72% | 11.66% | -4.57% | 15.15% |
AQN.TO Algonquin Power & Utilities Corp. | 0.57% | 38.66% | -18.70% | 0.64% | -48.61% | -9.69% | 18.93% | 38.62% | 1.80% | 28.17% |
Correlation
The correlation between TD.TO and AQN.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2006 | 0.20 |
The correlation between TD.TO and AQN.TO shifts across timeframes, from 0.12 (1 year) to 0.31 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
TD.TO:
CA$273.59B
AQN.TO:
CA$6.49B
TD.TO:
CA$8.81
AQN.TO:
$0.22
TD.TO:
18.65
AQN.TO:
27.49
TD.TO:
0.67
AQN.TO:
0.13
TD.TO:
2.47
AQN.TO:
1.85
TD.TO:
2.43
AQN.TO:
1.04
TD.TO:
CA$112.59B
AQN.TO:
$2.52B
TD.TO:
CA$59.48B
AQN.TO:
$924.77M
TD.TO:
CA$19.98B
AQN.TO:
$928.99M
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Return for Risk
TD.TO vs. AQN.TO — Risk / Return Rank
TD.TO
AQN.TO
TD.TO vs. AQN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Toronto-Dominion Bank (TD.TO) and Algonquin Power & Utilities Corp. (AQN.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.
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.
| TD.TO | AQN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.64 | ||
| Sortino ratioReturn per unit of downside risk | +5.35 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.12 | +0.77 |
| Calmar ratioReturn relative to maximum drawdown | 11.58 | 0.67 | +10.91 |
| Martin ratioReturn relative to average drawdown | 48.66 | 1.58 | +47.08 |
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Drawdowns
TD.TO vs. AQN.TO - Drawdown Comparison
The maximum TD.TO drawdown since its inception was -52.42%, smaller than the maximum AQN.TO drawdown of -78.58%. Use the drawdown chart below to compare losses from any high point for TD.TO and AQN.TO.
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Drawdown Indicators
| TD.TO | AQN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.42% | -78.58% | +26.16% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -15.90% | +9.22% |
Max Drawdown (3Y)Largest decline over 3 years | -15.04% | -39.68% | +24.64% |
Max Drawdown (5Y)Largest decline over 5 years | -26.06% | -63.79% | +37.73% |
Max Drawdown (10Y)Largest decline over 10 years | -35.80% | -66.31% | +30.51% |
Current DrawdownCurrent decline from peak | 0.00% | -50.78% | +50.78% |
Average DrawdownAverage peak-to-trough decline | -7.29% | -21.87% | +14.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 6.75% | -5.16% |
Volatility
TD.TO vs. AQN.TO - Volatility Comparison
The Toronto-Dominion Bank (TD.TO) and Algonquin Power & Utilities Corp. (AQN.TO) have volatilities of 5.01% and 4.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TD.TO | AQN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.01% | 4.87% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.72% | 18.51% | -6.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.19% | 23.28% | -8.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.17% | 28.65% | -11.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 25.94% | -6.65% |
Dividends
TD.TO vs. AQN.TO - Dividend Comparison
TD.TO's dividend yield for the trailing twelve months is around 2.59%, less than AQN.TO's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQN.TO Algonquin Power & Utilities Corp. | 4.28% | 4.32% | 7.48% | 6.95% | 9.59% | 3.65% | 3.70% | 3.24% | 3.99% | 3.59% | 4.23% | 4.08% |
TD.TO The Toronto-Dominion Bank | 2.59% | 3.25% | 5.33% | 4.48% | 4.06% | 3.26% | 4.32% | 3.97% | 3.85% | 3.19% | 3.26% | 3.69% |
Financials
TD.TO vs. AQN.TO - Financials Comparison
This section allows you to compare key financial metrics between The Toronto-Dominion Bank and Algonquin Power & Utilities Corp.. 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
TD.TO vs. AQN.TO - Profitability Comparison
TD.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported a gross profit of 14.91B and revenue of 27.03B. Therefore, the gross margin over that period was 55.2%.
AQN.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported a gross profit of 169.97M and revenue of 771.54M. Therefore, the gross margin over that period was 22.0%.
TD.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported an operating income of 5.03B and revenue of 27.03B, resulting in an operating margin of 18.6%.
AQN.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported an operating income of 169.97M and revenue of 771.54M, resulting in an operating margin of 22.0%.
TD.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported a net income of 4.25B and revenue of 27.03B, resulting in a net margin of 15.7%.
AQN.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported a net income of 84.79M and revenue of 771.54M, resulting in a net margin of 11.0%.
Frequently Asked Questions
TD.TO and AQN.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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