WM vs. RSG

Last updated Jun 3, 2026

WM (Waste Management, Inc.) and RSG (Republic Services, Inc.) are both stocks. Both operate in the Waste Management industry within the Industrials sector. Over the past 10 years, WM returned 15.18%/yr vs 17.16%/yr for RSG. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

WM vs. RSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Waste Management, Inc. (WM) and Republic Services, Inc. (RSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WM achieves a -3.16% return, which is significantly higher than RSG's -4.29% return. Over the past 10 years, WM has underperformed RSG with an annualized return of 15.18%, while RSG has yielded a comparatively higher 17.16% annualized return.

WM

• 1D: -0.27%
• 1M: -7.36%
• YTD: -3.16%
• 6M: -0.44%
• 1Y: -11.14%
• 3Y*: 10.23%
• 5Y*: 10.17%
• 10Y*: 15.18%

RSG

• 1D: 0.42%
• 1M: -2.37%
• YTD: -4.29%
• 6M: -4.62%
• 1Y: -21.00%
• 3Y*: 13.06%
• 5Y*: 14.57%
• 10Y*: 17.16%

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

WM vs. RSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WM Waste Management, Inc.	-3.16%	10.50%	14.28%	16.20%	-4.49%	43.82%	5.46%	30.45%	5.32%	24.46%
RSG Republic Services, Inc.	-4.29%	6.44%	23.03%	29.64%	-6.16%	47.03%	9.53%	26.62%	8.85%	20.96%

Correlation

The correlation between WM and RSG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 2, 1998	0.61

The correlation between WM and RSG shifts across timeframes, from 0.61 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap WM : $85.70B RSG : $62.34B
EPS WM : $6.91 RSG : $6.98
PE Ratio WM : 30.67 RSG : 28.89
PEG Ratio WM : 2.51 RSG : 2.03
PS Ratio WM : 3.37 RSG : 3.76
PB Ratio WM : 8.55 RSG : 5.20
Total Revenue (TTM) WM : $25.41B RSG : $16.70B
Gross Profit (TTM) WM : $5.61B RSG : $3.80B
EBITDA (TTM) WM : $6.96B RSG : $4.89B

Return for Risk

WM vs. RSG — Risk / Return Rank

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

WM

WM Risk / Return Rank: 15
WM Sharpe Ratio Rank: 14
WM Sortino Ratio Rank: 14
WM Omega Ratio Rank: 15
WM Calmar Ratio Rank: 19
WM Martin Ratio Rank: 11

RSG

RSG Risk / Return Rank: 4
RSG Sharpe Ratio Rank: 2
RSG Sortino Ratio Rank: 4
RSG Omega Ratio Rank: 6
RSG Calmar Ratio Rank: 5
RSG Martin Ratio Rank: 5

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.

WM vs. RSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Waste Management, Inc. (WM) and Republic Services, Inc. (RSG). 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.

	WM	RSG	Difference
Sharpe ratio Return per unit of total volatility	-0.61	-1.17	+0.56
Sortino ratio Return per unit of downside risk	-0.74	-1.60	+0.85
Omega ratio Gain probability vs. loss probability	0.91	0.81	+0.10
Calmar ratio Return relative to maximum drawdown	-0.59	-0.92	+0.33
Martin ratio Return relative to average drawdown	-1.28	-1.47	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WM vs. RSG - Sharpe Ratio Comparison

The current WM Sharpe Ratio is -0.61, which is higher than the RSG Sharpe Ratio of -1.17. The chart below compares the historical Sharpe Ratios of WM and RSG, 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

	WM	RSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	-1.17	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.81	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.91	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.39	-0.03

Drawdowns

WM vs. RSG - Drawdown Comparison

The maximum WM drawdown since its inception was -77.85%, which is greater than RSG's maximum drawdown of -65.99%. Use the drawdown chart below to compare losses from any high point for WM and RSG.

Drawdown Indicators

	WM	RSG	Difference
Max Drawdown Largest peak-to-trough decline	-77.85%	-65.99%	-11.86%
Max Drawdown (1Y) Largest decline over 1 year	-17.48%	-22.05%	+4.57%
Max Drawdown (3Y) Largest decline over 3 years	-18.14%	-22.54%	+4.40%
Max Drawdown (5Y) Largest decline over 5 years	-18.14%	-22.54%	+4.40%
Max Drawdown (10Y) Largest decline over 10 years	-30.07%	-34.02%	+3.95%
Current Drawdown Current decline from peak	-13.69%	-21.00%	+7.31%
Average Drawdown Average peak-to-trough decline	-17.69%	-11.83%	-5.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.36%	14.09%	-5.73%

Volatility

WM vs. RSG - Volatility Comparison

The current volatility for Waste Management, Inc. (WM) is 4.94%, while Republic Services, Inc. (RSG) has a volatility of 6.44%. This indicates that WM experiences smaller price fluctuations and is considered to be less risky than RSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WM	RSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	6.44%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	13.30%	13.23%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	18.37%	18.05%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	18.05%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.48%	19.03%	+0.45%

Dividends

WM vs. RSG - Dividend Comparison

WM's dividend yield for the trailing twelve months is around 1.61%, more than RSG's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSG Republic Services, Inc.	1.22%	1.12%	0.82%	1.25%	1.48%	1.27%	1.72%	1.74%	2.00%	1.97%	2.17%	2.64%
WM Waste Management, Inc.	1.61%	1.50%	1.49%	1.56%	1.66%	1.38%	1.85%	1.80%	2.09%	1.97%	2.31%	2.89%

Financials

WM vs. RSG - Profitability Comparison

The chart below illustrates the profitability comparison between Waste Management, Inc. and Republic Services, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported a gross profit of 0.00 and revenue of 6.23B. Therefore, the gross margin over that period was 0.0%.

RSG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Republic Services, Inc. reported a gross profit of 0.00 and revenue of 4.11B. Therefore, the gross margin over that period was 0.0%.

WM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported an operating income of 1.11B and revenue of 6.23B, resulting in an operating margin of 17.9%.

RSG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Republic Services, Inc. reported an operating income of 830.00M and revenue of 4.11B, resulting in an operating margin of 20.2%.

WM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported a net income of 723.00M and revenue of 6.23B, resulting in a net margin of 11.6%.

RSG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Republic Services, Inc. reported a net income of 525.00M and revenue of 4.11B, resulting in a net margin of 12.8%.

Frequently Asked Questions

Can I hold both WM and RSG in my portfolio?

WM and RSG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WM or RSG?

RSG has higher volatility (6.44%) compared to WM (4.94%). In terms of maximum drawdown, WM dropped -77.85% vs RSG's -65.99%.

Which has better risk-adjusted returns?

WM currently has the higher Sharpe Ratio (-0.61 vs -1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.