WTW vs. AON
WTW (Willis Towers Watson Public Limited Company) and AON (Aon plc) are both stocks. Both operate in the Insurance Brokers industry within the Financial Services sector. Over the past 10 years, WTW returned 8.52%/yr vs 12.29%/yr for AON. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
WTW vs. AON - Performance Comparison
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Returns By Period
In the year-to-date period, WTW achieves a -23.37% return, which is significantly lower than AON's -10.14% return. Over the past 10 years, WTW has underperformed AON with an annualized return of 8.52%, while AON has yielded a comparatively higher 12.29% annualized return.
WTW
- 1D
- -2.12%
- 1M
- -3.48%
- YTD
- -23.37%
- 6M
- -20.23%
- 1Y
- -19.06%
- 3Y*
- 5.11%
- 5Y*
- 0.58%
- 10Y*
- 8.52%
AON
- 1D
- -0.71%
- 1M
- 0.22%
- YTD
- -10.14%
- 6M
- -7.94%
- 1Y
- -14.96%
- 3Y*
- 1.04%
- 5Y*
- 5.52%
- 10Y*
- 12.29%
WTW vs. AON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WTW Willis Towers Watson Public Limited Company | -23.37% | 6.09% | 31.48% | 0.08% | 4.53% | 14.16% | 5.83% | 34.81% | 2.42% | 25.05% |
AON Aon plc | -10.14% | -0.94% | 24.45% | -2.31% | 0.61% | 43.39% | 2.37% | 44.68% | 9.94% | 21.49% |
Correlation
The correlation between WTW and AON is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2016 | 0.72 |
The correlation between WTW and AON has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
Fundamentals
WTW:
$24.09B
AON:
$67.98B
WTW:
$16.97
AON:
$18.21
WTW:
14.79
AON:
17.33
WTW:
0.46
AON:
0.44
WTW:
2.49
AON:
3.91
WTW:
3.02
AON:
6.91
WTW:
$9.90B
AON:
$17.49B
WTW:
$3.18B
AON:
$9.77B
WTW:
$2.63B
AON:
$6.55B
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Return for Risk
WTW vs. AON — Risk / Return Rank
WTW
AON
WTW vs. AON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Willis Towers Watson Public Limited Company (WTW) and Aon plc (AON). 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.
| WTW | AON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.90 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | -0.87 | +0.24 |
| Martin ratioReturn relative to average drawdown | -1.58 | -1.62 | +0.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WTW | AON | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | -0.63 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.24 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.53 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.42 | -0.08 |
Drawdowns
WTW vs. AON - Drawdown Comparison
The maximum WTW drawdown since its inception was -32.95%, smaller than the maximum AON drawdown of -69.05%. Use the drawdown chart below to compare losses from any high point for WTW and AON.
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Drawdown Indicators
| WTW | AON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.95% | -69.05% | +36.10% |
Max Drawdown (1Y)Largest decline over 1 year | -30.39% | -17.28% | -13.11% |
Max Drawdown (3Y)Largest decline over 3 years | -30.39% | -23.84% | -6.55% |
Max Drawdown (5Y)Largest decline over 5 years | -30.39% | -25.38% | -5.01% |
Max Drawdown (10Y)Largest decline over 10 years | -32.95% | -38.73% | +5.78% |
Current DrawdownCurrent decline from peak | -27.84% | -22.03% | -5.81% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -13.67% | +5.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.13% | 9.29% | +2.84% |
Volatility
WTW vs. AON - Volatility Comparison
Willis Towers Watson Public Limited Company (WTW) has a higher volatility of 8.57% compared to Aon plc (AON) at 5.77%. This indicates that WTW's price experiences larger fluctuations and is considered to be riskier than AON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WTW | AON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.57% | 5.77% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 24.89% | 19.33% | +5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.37% | 23.72% | +3.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.96% | 23.08% | +0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.55% | 23.43% | +1.12% |
Dividends
WTW vs. AON - Dividend Comparison
WTW's dividend yield for the trailing twelve months is around 1.48%, more than AON's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | 0.97% | 0.82% | 0.74% | 0.83% | 0.73% | 0.66% | 0.84% | 0.83% | 1.35% | 1.05% | 1.16% | 1.25% |
WTW Willis Towers Watson Public Limited Company | 1.48% | 1.12% | 1.12% | 1.39% | 1.34% | 1.27% | 1.31% | 1.29% | 1.58% | 1.41% | 1.57% | 0.00% |
Financials
WTW vs. AON - Financials Comparison
This section allows you to compare key financial metrics between Willis Towers Watson Public Limited Company and Aon plc. 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
WTW vs. AON - Profitability Comparison
WTW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Willis Towers Watson Public Limited Company reported a gross profit of 0.00 and revenue of 2.41B. Therefore, the gross margin over that period was 0.0%.
AON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aon plc reported a gross profit of 2.64B and revenue of 5.03B. Therefore, the gross margin over that period was 52.5%.
WTW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Willis Towers Watson Public Limited Company reported an operating income of 448.00M and revenue of 2.41B, resulting in an operating margin of 18.6%.
AON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aon plc reported an operating income of 1.72B and revenue of 5.03B, resulting in an operating margin of 34.1%.
WTW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Willis Towers Watson Public Limited Company reported a net income of 297.00M and revenue of 2.41B, resulting in a net margin of 12.3%.
AON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aon plc reported a net income of 1.21B and revenue of 5.03B, resulting in a net margin of 24.1%.
Frequently Asked Questions
WTW and AON have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WTW has higher volatility (8.57%) compared to AON (5.77%). In terms of maximum drawdown, WTW dropped -32.95% vs AON's -69.05%.
AON currently has the higher Sharpe Ratio (-0.63 vs -0.70), 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.
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