TD.TO vs. BMO.TO
TD.TO (The Toronto-Dominion Bank) and BMO.TO (Bank of Montreal) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, TD.TO returned 16.09%/yr vs 15.95%/yr for BMO.TO. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
TD.TO vs. BMO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TD.TO achieves a 28.85% return, which is significantly lower than BMO.TO's 34.22% return. Both investments have delivered pretty close results over the past 10 years, with TD.TO having a 16.09% annualized return and BMO.TO not far behind at 15.95%.
TD.TO
- 1D
- 1.10%
- 1M
- 12.21%
- YTD
- 28.85%
- 6M
- 32.50%
- 1Y
- 76.53%
- 3Y*
- 33.03%
- 5Y*
- 18.47%
- 10Y*
- 16.09%
BMO.TO
- 1D
- 1.21%
- 1M
- 14.20%
- YTD
- 34.22%
- 6M
- 31.97%
- 1Y
- 65.34%
- 3Y*
- 31.53%
- 5Y*
- 18.07%
- 10Y*
- 15.95%
TD.TO vs. BMO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TD.TO The Toronto-Dominion Bank | 28.85% | 77.06% | -6.05% | 2.34% | -6.01% | 40.15% | 3.72% | 11.66% | -4.57% | 15.15% |
BMO.TO Bank of Montreal | 34.22% | 33.33% | 11.74% | 12.19% | -6.19% | 45.89% | 1.29% | 17.51% | -7.94% | 7.99% |
Correlation
The correlation between TD.TO and BMO.TO is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2006 | 0.71 |
The correlation between TD.TO and BMO.TO shifts across timeframes, from 0.56 (3 years) to 0.71 (all time), reflecting how their relationship changes across market environments.
Fundamentals
TD.TO:
CA$273.16B
BMO.TO:
CA$165.75B
TD.TO:
CA$8.81
BMO.TO:
CA$13.65
TD.TO:
18.62
BMO.TO:
17.23
TD.TO:
0.67
BMO.TO:
0.79
TD.TO:
2.47
BMO.TO:
2.18
TD.TO:
2.42
BMO.TO:
2.13
TD.TO:
CA$112.59B
BMO.TO:
CA$77.04B
TD.TO:
CA$59.48B
BMO.TO:
CA$34.47B
TD.TO:
CA$19.98B
BMO.TO:
CA$14.20B
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Return for Risk
TD.TO vs. BMO.TO — Risk / Return Rank
TD.TO
BMO.TO
TD.TO vs. BMO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Toronto-Dominion Bank (TD.TO) and Bank of Montreal (BMO.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 | BMO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.62 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 11.51 | 6.49 | +5.02 |
| Martin ratioReturn relative to average drawdown | 48.39 | 23.72 | +24.67 |
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Drawdowns
TD.TO vs. BMO.TO - Drawdown Comparison
The maximum TD.TO drawdown since its inception was -52.42%, smaller than the maximum BMO.TO drawdown of -62.39%. Use the drawdown chart below to compare losses from any high point for TD.TO and BMO.TO.
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Drawdown Indicators
| TD.TO | BMO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.42% | -62.39% | +9.97% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -10.12% | +3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -15.04% | -16.57% | +1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -26.06% | -27.47% | +1.41% |
Max Drawdown (10Y)Largest decline over 10 years | -35.80% | -45.59% | +9.79% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.29% | -9.03% | +1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.78% | -1.19% |
Volatility
TD.TO vs. BMO.TO - Volatility Comparison
The Toronto-Dominion Bank (TD.TO) has a higher volatility of 5.14% compared to Bank of Montreal (BMO.TO) at 4.56%. This indicates that TD.TO's price experiences larger fluctuations and is considered to be riskier than BMO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TD.TO | BMO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 4.56% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 11.73% | 14.51% | -2.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.16% | 17.79% | -2.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.17% | 18.36% | -1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 21.00% | -1.71% |
Dividends
TD.TO vs. BMO.TO - Dividend Comparison
TD.TO's dividend yield for the trailing twelve months is around 2.60%, less than BMO.TO's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMO.TO Bank of Montreal | 2.81% | 3.61% | 4.39% | 4.42% | 4.44% | 3.11% | 4.38% | 4.03% | 4.24% | 3.54% | 3.52% | 4.15% |
TD.TO The Toronto-Dominion Bank | 2.60% | 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. BMO.TO - Financials Comparison
This section allows you to compare key financial metrics between The Toronto-Dominion Bank and Bank of Montreal. 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. BMO.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%.
BMO.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bank of Montreal reported a gross profit of 8.79B and revenue of 19.27B. Therefore, the gross margin over that period was 45.6%.
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%.
BMO.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bank of Montreal reported an operating income of 3.50B and revenue of 19.27B, resulting in an operating margin of 18.2%.
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%.
BMO.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bank of Montreal reported a net income of 2.63B and revenue of 19.27B, resulting in a net margin of 13.6%.
Frequently Asked Questions
TD.TO and BMO.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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