WTW vs. MERC

Last updated Jun 4, 2026

WTW (Willis Towers Watson Public Limited Company) and MERC (Mercer International Inc.) are both stocks. WTW operates in Insurance Brokers (Financial Services), while MERC operates in Paper & Paper Products (Basic Materials). Over the past 10 years, WTW returned 8.52%/yr vs -18.14%/yr for MERC. At a 0.22 correlation, their price movements are largely independent.

Performance

WTW vs. MERC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Willis Towers Watson Public Limited Company (WTW) and Mercer International Inc. (MERC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTW achieves a -23.37% return, which is significantly higher than MERC's -56.19% return. Over the past 10 years, WTW has outperformed MERC with an annualized return of 8.52%, while MERC has yielded a comparatively lower -18.14% 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%

MERC

• 1D: -5.29%
• 1M: -18.93%
• YTD: -56.19%
• 6M: -54.82%
• 1Y: -75.78%
• 3Y*: -52.53%
• 5Y*: -40.72%
• 10Y*: -18.14%

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

WTW vs. MERC - 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%
MERC Mercer International Inc.	-56.19%	-68.51%	-28.65%	-15.71%	-0.59%	19.46%	-12.81%	22.62%	-24.32%	39.65%

Correlation

The correlation between WTW and MERC is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jan 6, 2016	0.22

Fundamentals

EPS WTW : $16.97 MERC : -$10.51
PS Ratio WTW : 2.49 MERC : 0.02
Total Revenue (TTM) WTW : $9.90B MERC : $1.85B
Gross Profit (TTM) WTW : $3.18B MERC : -$64.63M
EBITDA (TTM) WTW : $2.63B MERC : -$73.03M

Return for Risk

WTW vs. MERC — Risk / Return Rank

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

WTW

WTW Risk / Return Rank: 12
WTW Sharpe Ratio Rank: 11
WTW Sortino Ratio Rank: 14
WTW Omega Ratio Rank: 12
WTW Calmar Ratio Rank: 18
WTW Martin Ratio Rank: 4

MERC

MERC Risk / Return Rank: 4
MERC Sharpe Ratio Rank: 4
MERC Sortino Ratio Rank: 2
MERC Omega Ratio Rank: 3
MERC Calmar Ratio Rank: 4
MERC Martin Ratio Rank: 6

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.

WTW vs. MERC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Willis Towers Watson Public Limited Company (WTW) and Mercer International Inc. (MERC). 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	MERC	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	-1.04	+0.34
Sortino ratio: Return per unit of downside risk	-0.78	-2.10	+1.33
Omega ratio: Gain probability vs. loss probability	0.88	0.76	+0.12
Calmar ratio: Return relative to maximum drawdown	-0.63	-0.93	+0.30
Martin ratio: Return relative to average drawdown	-1.58	-1.47	-0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WTW vs. MERC - Sharpe Ratio Comparison

The current WTW Sharpe Ratio is -0.70, which is higher than the MERC Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of WTW and MERC, 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

	WTW	MERC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	-1.04	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	-0.79	+0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	-0.38	+0.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	-0.09	+0.43

Drawdowns

WTW vs. MERC - Drawdown Comparison

The maximum WTW drawdown since its inception was -32.95%, smaller than the maximum MERC drawdown of -99.05%. Use the drawdown chart below to compare losses from any high point for WTW and MERC.

Drawdown Indicators

	WTW	MERC	Difference
Max Drawdown Largest peak-to-trough decline	-32.95%	-99.05%	+66.10%
Max Drawdown (1Y) Largest decline over 1 year	-30.39%	-81.36%	+50.97%
Max Drawdown (3Y) Largest decline over 3 years	-30.39%	-92.04%	+61.65%
Max Drawdown (5Y) Largest decline over 5 years	-30.39%	-94.70%	+64.31%
Max Drawdown (10Y) Largest decline over 10 years	-32.95%	-94.70%	+61.75%
Current Drawdown Current decline from peak	-27.84%	-95.52%	+67.68%
Average Drawdown Average peak-to-trough decline	-7.71%	-61.16%	+53.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.13%	51.39%	-39.26%

Volatility

WTW vs. MERC - Volatility Comparison

The current volatility for Willis Towers Watson Public Limited Company (WTW) is 8.57%, while Mercer International Inc. (MERC) has a volatility of 29.29%. This indicates that WTW experiences smaller price fluctuations and is considered to be less risky than MERC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTW	MERC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	29.29%	-20.72%
Volatility (6M) Calculated over the trailing 6-month period	24.89%	55.54%	-30.65%
Volatility (1Y) Calculated over the trailing 1-year period	27.37%	72.89%	-45.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.96%	51.88%	-27.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.55%	48.02%	-23.47%

Dividends

WTW vs. MERC - Dividend Comparison

WTW's dividend yield for the trailing twelve months is around 1.48%, less than MERC's 8.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MERC Mercer International Inc.	8.65%	7.58%	4.62%	3.16%	2.58%	2.17%	3.24%	4.37%	4.79%	3.29%	4.32%	2.54%
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. MERC - Profitability Comparison

The chart below illustrates the profitability comparison between Willis Towers Watson Public Limited Company and Mercer International Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

MERC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Mercer International Inc. reported a gross profit of 0.00 and revenue of 489.30M. Therefore, the gross margin over that period was 0.0%.

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%.

MERC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Mercer International Inc. reported an operating income of -32.89M and revenue of 489.30M, resulting in an operating margin of -6.7%.

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%.

MERC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Mercer International Inc. reported a net income of -52.00M and revenue of 489.30M, resulting in a net margin of -10.6%.

Frequently Asked Questions

Can I hold both WTW and MERC in my portfolio?

WTW and MERC have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTW or MERC?

MERC has higher volatility (29.29%) compared to WTW (8.57%). In terms of maximum drawdown, WTW dropped -32.95% vs MERC's -99.05%.

Which has better risk-adjusted returns?

WTW currently has the higher Sharpe Ratio (-0.70 vs -1.04), 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.