TRP.TO vs. TD.TO
TRP.TO (TC Energy Corporation) and TD.TO (The Toronto-Dominion Bank) are both stocks. TRP.TO operates in Oil & Gas Midstream (Energy), while TD.TO operates in Banks - Diversified (Financial Services). Over the past 10 years, TRP.TO returned 11.53%/yr vs 16.09%/yr for TD.TO. At a 0.35 correlation, their price movements are largely independent.
Performance
TRP.TO vs. TD.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TRP.TO having a 29.69% return and TD.TO slightly lower at 28.85%. Over the past 10 years, TRP.TO has underperformed TD.TO with an annualized return of 11.53%, while TD.TO has yielded a comparatively higher 16.09% annualized return.
TRP.TO
- 1D
- 0.20%
- 1M
- 5.50%
- YTD
- 29.69%
- 6M
- 31.68%
- 1Y
- 49.18%
- 3Y*
- 28.32%
- 5Y*
- 14.85%
- 10Y*
- 11.53%
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%
TRP.TO vs. TD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRP.TO TC Energy Corporation | 29.69% | 18.35% | 37.67% | 2.53% | -2.77% | 20.34% | -20.74% | 48.49% | -16.01% | 5.23% |
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% |
Correlation
The correlation between TRP.TO and TD.TO is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2006 | 0.35 |
Over the past year, the correlation between TRP.TO and TD.TO has dropped to 0.06 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.
Fundamentals
TRP.TO:
CA$101.12B
TD.TO:
CA$273.16B
TRP.TO:
CA$3.31
TD.TO:
CA$8.81
TRP.TO:
29.36
TD.TO:
18.62
TRP.TO:
0.39
TD.TO:
0.67
TRP.TO:
6.41
TD.TO:
2.47
TRP.TO:
4.00
TD.TO:
2.42
TRP.TO:
CA$15.76B
TD.TO:
CA$112.59B
TRP.TO:
CA$8.07B
TD.TO:
CA$59.48B
TRP.TO:
CA$10.90B
TD.TO:
CA$19.98B
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Return for Risk
TRP.TO vs. TD.TO — Risk / Return Rank
TRP.TO
TD.TO
TRP.TO vs. TD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP.TO) and The Toronto-Dominion Bank (TD.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.
| TRP.TO | TD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.89 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 11.51 | -5.87 |
| Martin ratioReturn relative to average drawdown | 16.62 | 48.39 | -31.77 |
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Drawdowns
TRP.TO vs. TD.TO - Drawdown Comparison
The maximum TRP.TO drawdown since its inception was -36.30%, smaller than the maximum TD.TO drawdown of -52.42%. Use the drawdown chart below to compare losses from any high point for TRP.TO and TD.TO.
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Drawdown Indicators
| TRP.TO | TD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.30% | -52.42% | +16.12% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -6.68% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -15.57% | -15.04% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -34.02% | -26.06% | -7.96% |
Max Drawdown (10Y)Largest decline over 10 years | -36.30% | -35.80% | -0.50% |
Current DrawdownCurrent decline from peak | -0.88% | 0.00% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -8.45% | -7.29% | -1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 1.59% | +1.49% |
Volatility
TRP.TO vs. TD.TO - Volatility Comparison
TC Energy Corporation (TRP.TO) has a higher volatility of 5.44% compared to The Toronto-Dominion Bank (TD.TO) at 5.14%. This indicates that TRP.TO's price experiences larger fluctuations and is considered to be riskier than TD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRP.TO | TD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 5.14% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.67% | 11.73% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.90% | 15.16% | +1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 17.17% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.23% | 19.29% | +3.94% |
Dividends
TRP.TO vs. TD.TO - Dividend Comparison
TRP.TO's dividend yield for the trailing twelve months is around 3.53%, more than TD.TO's 2.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TRP.TO TC Energy Corporation | 3.53% | 4.50% | 5.40% | 6.71% | 6.67% | 5.92% | 6.26% | 4.34% | 5.66% | 4.09% | 3.73% | 4.60% |
Financials
TRP.TO vs. TD.TO - Financials Comparison
This section allows you to compare key financial metrics between TC Energy Corporation and The Toronto-Dominion Bank. 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
TRP.TO vs. TD.TO - Profitability Comparison
TRP.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a gross profit of 2.40B and revenue of 4.23B. Therefore, the gross margin over that period was 56.7%.
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%.
TRP.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported an operating income of 2.21B and revenue of 4.23B, resulting in an operating margin of 52.1%.
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%.
TRP.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a net income of 927.00M and revenue of 4.23B, resulting in a net margin of 21.9%.
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%.
Frequently Asked Questions
TRP.TO and TD.TO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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