X.TO vs. BCE.TO
X.TO (TMX Group Limited) and BCE.TO (BCE Inc.) are both stocks. X.TO operates in Financial Data & Stock Exchanges (Financial Services), while BCE.TO operates in Telecom Services (Communication Services). Over the past 10 years, X.TO returned 30.69%/yr vs 0.48%/yr for BCE.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
X.TO vs. BCE.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, X.TO achieves a -2.41% return, which is significantly lower than BCE.TO's 6.30% return. Over the past 10 years, X.TO has outperformed BCE.TO with an annualized return of 30.69%, while BCE.TO has yielded a comparatively lower 0.48% annualized return.
X.TO
- 1D
- 0.74%
- 1M
- -5.58%
- YTD
- -2.41%
- 6M
- -0.90%
- 1Y
- -8.21%
- 3Y*
- 21.82%
- 5Y*
- 24.37%
- 10Y*
- 30.69%
BCE.TO
- 1D
- 0.23%
- 1M
- 5.04%
- YTD
- 6.30%
- 6M
- 8.15%
- 1Y
- 16.92%
- 3Y*
- -11.38%
- 5Y*
- -4.80%
- 10Y*
- 0.48%
X.TO vs. BCE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X.TO TMX Group Limited | -2.41% | 19.83% | 40.85% | 27.51% | 20.20% | 28.63% | 25.96% | 80.88% | 15.53% | 13.73% |
BCE.TO BCE Inc. | 6.30% | 5.35% | -30.02% | -6.22% | -4.33% | 27.90% | -3.92% | 17.38% | -5.65% | 9.18% |
Correlation
The correlation between X.TO and BCE.TO is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.16 |
The correlation between X.TO and BCE.TO shifts across timeframes, from -0.01 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
Fundamentals
X.TO:
CA$14.10B
BCE.TO:
CA$32.05B
X.TO:
CA$9.15
BCE.TO:
CA$6.92
X.TO:
5.51
BCE.TO:
4.97
X.TO:
0.46
BCE.TO:
0.01
X.TO:
1.42
BCE.TO:
1.30
X.TO:
0.29
BCE.TO:
1.59
X.TO:
CA$9.91B
BCE.TO:
CA$24.71B
X.TO:
CA$4.54B
BCE.TO:
CA$14.56B
X.TO:
CA$4.93B
BCE.TO:
CA$14.72B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
X.TO vs. BCE.TO — Risk / Return Rank
X.TO
BCE.TO
X.TO vs. BCE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TMX Group Limited (X.TO) and BCE Inc. (BCE.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.
| X.TO | BCE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.16 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 1.49 | -1.86 |
| Martin ratioReturn relative to average drawdown | -0.80 | 2.83 | -3.63 |
Loading charts...
Drawdowns
X.TO vs. BCE.TO - Drawdown Comparison
The maximum X.TO drawdown since its inception was -51.85%, roughly equal to the maximum BCE.TO drawdown of -50.02%. Use the drawdown chart below to compare losses from any high point for X.TO and BCE.TO.
Loading charts...
Drawdown Indicators
| X.TO | BCE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.85% | -50.02% | -1.83% |
Max Drawdown (1Y)Largest decline over 1 year | -22.81% | -10.82% | -11.99% |
Max Drawdown (3Y)Largest decline over 3 years | -22.81% | -43.50% | +20.69% |
Max Drawdown (5Y)Largest decline over 5 years | -22.81% | -50.02% | +27.21% |
Max Drawdown (10Y)Largest decline over 10 years | -27.26% | -50.02% | +22.76% |
Current DrawdownCurrent decline from peak | -11.37% | -38.09% | +26.72% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -11.43% | +4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.66% | 5.68% | +4.98% |
Volatility
X.TO vs. BCE.TO - Volatility Comparison
TMX Group Limited (X.TO) has a higher volatility of 8.91% compared to BCE Inc. (BCE.TO) at 4.92%. This indicates that X.TO's price experiences larger fluctuations and is considered to be riskier than BCE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| X.TO | BCE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.91% | 4.92% | +3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 18.48% | 12.20% | +6.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.45% | 17.42% | +6.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.66% | 17.15% | +3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.49% | 17.50% | +3.99% |
Dividends
X.TO vs. BCE.TO - Dividend Comparison
X.TO's dividend yield for the trailing twelve months is around 1.82%, less than BCE.TO's 5.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCE.TO BCE Inc. | 5.09% | 7.06% | 11.97% | 7.42% | 6.19% | 5.32% | 6.12% | 5.27% | 5.60% | 4.75% | 4.70% | 4.86% |
X.TO TMX Group Limited | 1.82% | 1.61% | 1.69% | 6.55% | 12.25% | 23.74% | 10.70% | 11.20% | 15.83% | 13.84% | 11.54% | 22.35% |
Financials
X.TO vs. BCE.TO - Financials Comparison
This section allows you to compare key financial metrics between TMX Group Limited and BCE Inc.. 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
X.TO vs. BCE.TO - Profitability Comparison
X.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TMX Group Limited reported a gross profit of 3.58B and revenue of 7.41B. Therefore, the gross margin over that period was 48.3%.
BCE.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BCE Inc. reported a gross profit of 1.85B and revenue of 6.17B. Therefore, the gross margin over that period was 30.0%.
X.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TMX Group Limited reported an operating income of 2.39B and revenue of 7.41B, resulting in an operating margin of 32.2%.
BCE.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BCE Inc. reported an operating income of 1.28B and revenue of 6.17B, resulting in an operating margin of 20.7%.
X.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TMX Group Limited reported a net income of 2.25B and revenue of 7.41B, resulting in a net margin of 30.3%.
BCE.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BCE Inc. reported a net income of 653.00M and revenue of 6.17B, resulting in a net margin of 10.6%.
Frequently Asked Questions
X.TO and BCE.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for X.TO and BCE.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer