Advanced Flower Capital (AFCG)
Market Price (2/3/2026): $2.245 | Market Cap: $49.6 MilSector: Financials | Industry: Mortgage REITs
Advanced Flower Capital (AFCG)
Market Price (2/3/2026): $2.245Market Cap: $49.6 MilSector: FinancialsIndustry: Mortgage REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 91%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 91% | Weak multi-year price returns2Y Excs Rtn is -109%, 3Y Excs Rtn is -143% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 133% |
| Attractive yieldFCF Yield is 28% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -58%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -35%, Rev Chg QQuarterly Revenue Change % is -175% | |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, Cannabis Industry Capital, and Sustainable & Green Buildings. Themes include Private Credit, Show more. | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% | |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50% | ||
| Key risksAFCG key risks include [1] deteriorating credit quality and steep losses from underperforming legacy loans, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 91%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 91% |
| Attractive yieldFCF Yield is 28% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, Cannabis Industry Capital, and Sustainable & Green Buildings. Themes include Private Credit, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -109%, 3Y Excs Rtn is -143% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 133% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -58%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -35%, Rev Chg QQuarterly Revenue Change % is -175% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50% |
| Key risksAFCG key risks include [1] deteriorating credit quality and steep losses from underperforming legacy loans, Show more. |
Qualitative Assessment
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1. Reduction in Distributable Earnings Estimates and Non-Accrual Loans.
Advanced Flower Capital Inc. (AFCG) experienced a significant decline in interest income, decreasing by $17.9 million in 2024 due to three major loans being placed on non-accrual status. This led to a downward revision of distributable earnings estimates for 2025 and 2026, from initial projections of $1.42 and $1.43 per share to $0.97 and $0.98, respectively. The company reported a GAAP net loss of $(12.5) million or $(0.57) per basic weighted average common share for the third quarter of 2025.
2. Dividend Cut.
Reflecting the financial strain from an estimated $26 million in lost interest income from underperforming loans, AFCG reduced its quarterly dividend. The dividend was cut from $0.33 to $0.23 per share. Furthermore, on September 15, 2025, AFCG declared a dividend of $0.15 per share. A reduction in dividend payouts typically signals financial difficulties and can lead to a decrease in investor confidence and stock value.
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Stock Movement Drivers
Fundamental Drivers
The -31.1% change in AFCG stock from 10/31/2025 to 2/2/2026 was primarily driven by a -32.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.25 | 2.24 | -31.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 23 | 15 | -32.6% |
| P/S Multiple | 3.1 | 3.2 | 2.2% |
| Shares Outstanding (Mil) | 22 | 22 | 0.0% |
| Cumulative Contribution | -31.1% |
Market Drivers
10/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| AFCG | -31.1% | |
| Market (SPY) | 2.0% | 34.9% |
| Sector (XLF) | 3.2% | 39.4% |
Fundamental Drivers
The -47.3% change in AFCG stock from 7/31/2025 to 2/2/2026 was primarily driven by a -52.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.25 | 2.24 | -47.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33 | 15 | -52.9% |
| P/S Multiple | 2.9 | 3.2 | 11.9% |
| Shares Outstanding (Mil) | 22 | 22 | -0.1% |
| Cumulative Contribution | -47.3% |
Market Drivers
7/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| AFCG | -47.3% | |
| Market (SPY) | 10.3% | 31.1% |
| Sector (XLF) | 3.5% | 35.4% |
Fundamental Drivers
The -69.4% change in AFCG stock from 1/31/2025 to 2/2/2026 was primarily driven by a -57.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.31 | 2.24 | -69.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 37 | 15 | -57.8% |
| P/S Multiple | 4.1 | 3.2 | -22.3% |
| Shares Outstanding (Mil) | 21 | 22 | -6.5% |
| Cumulative Contribution | -69.4% |
Market Drivers
1/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| AFCG | -69.4% | |
| Market (SPY) | 16.6% | 40.0% |
| Sector (XLF) | 6.1% | 40.8% |
Fundamental Drivers
The -71.0% change in AFCG stock from 1/31/2023 to 2/2/2026 was primarily driven by a -76.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.73 | 2.24 | -71.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 67 | 15 | -76.9% |
| P/S Multiple | 2.3 | 3.2 | 38.6% |
| Shares Outstanding (Mil) | 20 | 22 | -9.5% |
| Cumulative Contribution | -71.0% |
Market Drivers
1/31/2023 to 2/2/2026| Return | Correlation | |
|---|---|---|
| AFCG | -71.0% | |
| Market (SPY) | 77.5% | 37.7% |
| Sector (XLF) | 54.5% | 39.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AFCG Return | 5% | -21% | -10% | 8% | -62% | -19% | -75% |
| Peers Return | 35% | -27% | 14% | 8% | 1% | 0% | 23% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| AFCG Win Rate | 70% | 50% | 33% | 33% | 17% | 0% | |
| Peers Win Rate | 65% | 40% | 52% | 60% | 50% | 30% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| AFCG Max Drawdown | -12% | -32% | -31% | -7% | -66% | -19% | |
| Peers Max Drawdown | -6% | -34% | -18% | -14% | -13% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IIPR, LIEN, ARCC, STWD, BXMT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/2/2026 (YTD)
How Low Can It Go
| Event | AFCG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -58.6% | -25.4% |
| % Gain to Breakeven | 141.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to IIPR, LIEN, ARCC, STWD, BXMT
In The Past
Advanced Flower Capital's stock fell -58.6% during the 2022 Inflation Shock from a high on 11/12/2021. A -58.6% loss requires a 141.7% gain to breakeven.
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About Advanced Flower Capital (AFCG)
AI Analysis | Feedback
- Realty Income for the cannabis industry.
- A specialized bank for the cannabis sector.
- Starwood Property Trust for cannabis real estate.
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- Senior Secured Loans: Provides first-lien mortgage loans and other credit facilities to state-licensed cannabis operators.
- Real Estate Financing: Invests in senior secured loans collateralized by real estate and other assets within the cannabis industry.
- Debtor-in-Possession (DIP) Financing: Offers specialized financing to cannabis companies during bankruptcy or restructuring proceedings.
AI Analysis | Feedback
Advanced Flower Capital (AFCG) does not appear to be a real, currently listed public company on major stock exchanges. As such, it is not possible to identify its actual major customers.
However, if a company with the name "Advanced Flower Capital" were to exist and operate consistent with its implied focus (e.g., providing capital or real estate solutions to the cannabis or specialized horticulture industries), it would most likely operate on a business-to-business (B2B) model.
In such a hypothetical scenario, its primary customers would be other companies, falling into categories such as:
- Cannabis Cultivation Companies: Large-scale growers and operators of cultivation facilities, including greenhouses and indoor farms, seeking capital for expansion, real estate, or equipment.
- Cannabis Processing and Manufacturing Facilities: Businesses that transform harvested cannabis into various products like oils, edibles, and concentrates, requiring funding for infrastructure and technology.
- Specialized Horticulture Businesses: Commercial enterprises focused on the cultivation of high-value flowers or plants (beyond cannabis), requiring advanced capital solutions for large-scale operations and technological upgrades.
Since this company and its operations are hypothetical, no specific names of customer companies or their stock symbols can be provided.
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- KeyBank National Association (KeyCorp, NYSE: KEY)
- Fifth Third Bank, National Association (Fifth Third Bancorp, NASDAQ: FITB)
- Columbia Bank (Provident Financial Services, Inc., NYSE: PFS)
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```htmlDaniel Neville, Chief Executive Officer and Partner
Mr. Neville has served as CEO of Advanced Flower Capital Inc. (formerly AFC Gamma, Inc.) since November 13, 2023, and also serves as a Partner. He was previously the Chief Financial Officer of AWH from August 2020 to November 2023, where he was responsible for accounting, finance, M&A, IT, and procurement. Before AWH, he worked at SLS Capital, a special situations hedge fund, serving as a Managing Director from January 2015 to March 2019 and as an Analyst from April 2010 to January 2015. Earlier in his career, he was an investment banker at Credit Suisse in the Technology Group, focusing on mergers & acquisitions and IPO transactions.
Brandon Hetzel, Chief Financial Officer and Treasurer
Mr. Hetzel joined Advanced Flower Capital's external manager in September 2020 as Controller and has served as its Chief Financial Officer and Treasurer since March 2023. Prior to joining the Company, he was the VP of Finance for a real estate development and asset management company. He also spent seven years with PricewaterhouseCoopers as a manager in the REIT audit practice, accumulating over twelve years of real estate and financial management experience.
Leonard M. Tannenbaum, CFA, Chairman of the Board
Mr. Tannenbaum is the Founder of TCG/Tannenbaum Capital Group, an alternative investment firm. He founded Fifth Street Capital at age 27, which grew into a nationwide alternative credit asset manager with $5 billion in assets under management across various private investment vehicles and publicly traded companies, providing capital solutions to middle-market businesses. Fifth Street Capital was sold to Oaktree Capital Management in 2017. With over three decades of experience in credit, he has underwritten billions in loans and led numerous companies to public offerings.
Robyn Tannenbaum, Chief Investment Officer and President
Robyn Tannenbaum was appointed Chief Investment Officer in October 2024 and has served as President since March 2023. She has been with the company since its inception, previously holding roles as Managing Director, Head of Originations and Investor Relations. Her career began in the investment banking healthcare division at CIT Group, where she focused on mergers & acquisitions and leveraged finance. She also successfully managed three publicly traded entities as Executive Director and Head of Investor Relations at Fifth Street Asset Management.
Gabe Katz, Chief Legal Officer
Mr. Katz has over 10 years of experience advising both public and private companies on acquisitions, debt and equity financings, corporate governance, and continuous reporting obligations. Before joining Advanced Flower Capital, he worked in the corporate and securities groups at national law firms and led the corporate legal team at a unicorn technology company.
```AI Analysis | Feedback
The key risks to Advanced Flower Capital (AFCG) primarily stem from the inherent challenges within the cannabis lending sector and the company's financial performance:
- Regulatory Uncertainty in the Cannabis Industry: AFCG's business is heavily exposed to the cannabis industry, which remains federally illegal in the United States. This regulatory uncertainty creates chronic barriers to banking services and introduces potential risks to collateral, impacting overall compliance and legal certainty for the sector. Any shifts in federal or state banking regulations could significantly alter AFCG's business model and operational landscape.
- Credit Quality Deterioration and Underperforming Loans: The company has experienced substantial credit provisions and faces significant challenges with underperforming legacy loans, which have contributed to steep losses and cash challenges. AFCG's credit provisions have increased significantly, and its financial results continue to be affected by these underperforming assets. This has led to an increase in unrealized losses on loans and a focus on resolving these issues to improve future performance.
- Liquidity Strain and Dividend Sustainability: AFCG has seen a dramatic decrease in its cash on hand, indicating a strain on its liquidity. The company is operating with negative free cash flow and booking net losses, which directly pressures its ability to fund new loans and maintain its dividend. The sustainability of its dividend is a concern, as distributable earnings have failed to cover dividend payments in recent periods.
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The primary clear emerging threat to Advanced Flower Capital (AFCG) is the potential federal legalization or de-scheduling of cannabis. AFC Gamma's business model thrives on the current federal illegality of cannabis, which prevents traditional banks and financial institutions from lending to state-legal cannabis operators. This creates a specialized market where AFC Gamma can operate with less competition and potentially higher margins.
If cannabis becomes federally legal, it would open the door for traditional banks, credit unions, and other large financial institutions to enter the cannabis lending market. These institutions typically have a lower cost of capital, existing infrastructure, and broader client relationships, which could significantly increase competition for AFC Gamma, erode its competitive advantage, and compress lending margins, similar to how Netflix disrupted Blockbuster's business model by offering a superior and more accessible alternative.
AI Analysis | Feedback
Advanced Flower Capital (AFCG) primarily provides senior secured loans and debt securities, with a historical specialization in the U.S. cannabis industry. The company is transitioning from a commercial mortgage REIT to a Business Development Company (BDC), which will allow it to expand its lending activities to include ancillary cannabis businesses, non-real estate operators, and non-cannabis middle-market companies. The conversion is anticipated to be finalized in the first quarter of 2026.
The addressable markets for Advanced Flower Capital's main products and services are:
- U.S. Cannabis Lending Market: The U.S. cannabis industry is projected to require between $65.6 billion and $130.7 billion in sustainable growth capital over the next decade. This demand could generate approximately $1 billion to $2.4 billion in potential interest revenue for financial institutions willing to lend to cannabis businesses.
- U.S. Legal Cannabis Market (underlying demand for real estate and operational financing): The legal cannabis market in the U.S. is expected to reach $41 billion by 2025. Other estimates place the U.S. cannabis market size at approximately $38.50 billion in 2024, with a projection to reach $44.30 billion in 2025. Projections also indicate that U.S. legal cannabis sales could grow from $31 billion in 2024 to $44 billion by 2029, and reach $72 billion annually by 2030. The overall U.S. cannabis market size is anticipated to exceed $110.80 billion by 2033.
- U.S. Cannabis Cultivation Market: This segment of the industry, which drives significant real estate and equipment lending, generated approximately $12.58 billion in revenue in 2022 and is expected to grow to about $26.76 billion by 2030.
- Broader U.S. Commercial Finance Market (for future diversified lending as a BDC): As AFCG expands into non-cannabis middle-market companies, it will tap into the broader commercial finance market. The U.S. share of the global commercial finance market was approximately $2.8 trillion in 2024.
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Advanced Flower Capital (AFCG) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and favorable market dynamics in the cannabis industry. Key drivers include:
-
Continued Expansion within the Cannabis Industry: As a specialized institutional lender to the cannabis sector, AFCG is well-positioned to benefit from the increasing demand for debt capital. The cannabis industry is experiencing growth driven by market expansions, refinancing activities, and mergers and acquisitions. CEO Daniel Neville has emphasized the capital-intensive nature of the cannabis industry, particularly the need for investments in cultivation and distribution infrastructure, which traditional lenders remain hesitant to finance, thereby creating opportunities for AFCG.
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Conversion to a Business Development Company (BDC) and Expanded Investment Mandate: AFCG is undergoing a strategic conversion from a mortgage REIT to a Business Development Company (BDC). This transition, subject to shareholder approval, is designed to broaden the company's investment opportunities beyond real estate-backed loans. The expanded mandate will allow AFCG to provide secured loans to cannabis-ancillary companies and middle-market businesses outside the cannabis industry, leveraging its team's extensive direct lending experience.
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Focus on High-Quality Credit Opportunities and Strategic Capital Redeployment: AFCG is actively refining its portfolio by divesting underperforming assets and reallocating capital to higher-quality credit opportunities. For instance, the company divested an $84 million loan in June 2024, with plans to reinvest the capital into stronger operators to improve credit quality and achieve better risk-adjusted returns. The company anticipates deploying approximately $75 million in liquidity for new, high-quality credit opportunities in 2025.
-
Diversification of Financing Sources: To support its growth trajectory, Advanced Flower Capital aims to diversify its financing sources by increasing access to both equity and debt capital. The company has utilized at-the-market (ATM) stock offerings to bolster its capital base and fund continued growth within the cannabis industry.
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Advanced Flower Capital (symbol: AFCG) has made the following capital allocation decisions over the last 3-5 years:Share Repurchases
- On June 15, 2023, the Board of Directors approved a share repurchase program, authorizing the company to repurchase up to $20 million of its outstanding common stock. This program is authorized until December 31, 2025.
- Since the beginning of 2023, certain executives of AFC Gamma purchased approximately $2.9 million worth of the company's stock in aggregate.
Share Issuance
- As of November 6, 2025, Advanced Flower Capital has 22,594,541 outstanding shares.
Outbound Investments
- AFC Gamma is an institutional lender that originates, structures, and underwrites loans secured by commercial real estate and other financing solutions for state-law compliant cannabis operators in the United States.
- The company targets direct lending and bridge loan opportunities typically ranging from $5 million to $100 million.
- As of March 31, 2025, AFC's portfolio had $366.3 million in principal outstanding across 17 loans, increasing to $372.5 million across 18 loans as of May 1, 2025.
Capital Expenditures
- Advanced Flower Capital has a reported Capital Expenditures of $0.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is Advanced Flower Capital Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 18.67 |
| Mkt Cap | 2.4 |
| Rev LTM | 392 |
| Op Inc LTM | 138 |
| FCF LTM | 110 |
| FCF 3Y Avg | 129 |
| CFO LTM | 110 |
| CFO 3Y Avg | 129 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -11.2% |
| Rev Chg 3Y Avg | -4.5% |
| Rev Chg Q | -3.8% |
| QoQ Delta Rev Chg LTM | -1.1% |
| Op Mgn LTM | 49.9% |
| Op Mgn 3Y Avg | 54.2% |
| QoQ Delta Op Mgn LTM | -2.3% |
| CFO/Rev LTM | 59.4% |
| CFO/Rev 3Y Avg | 51.7% |
| FCF/Rev LTM | 59.4% |
| FCF/Rev 3Y Avg | 49.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.4 |
| P/S | 6.3 |
| P/EBIT | 9.4 |
| P/E | 10.4 |
| P/CFO | 5.0 |
| Total Yield | 17.4% |
| Dividend Yield | 9.8% |
| FCF Yield 3Y Avg | 7.9% |
| D/E | 1.4 |
| Net D/E | 1.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.8% |
| 3M Rtn | 1.2% |
| 6M Rtn | -1.6% |
| 12M Rtn | -4.0% |
| 3Y Rtn | 11.5% |
| 1M Excs Rtn | -2.6% |
| 3M Excs Rtn | -1.7% |
| 6M Excs Rtn | -12.9% |
| 12M Excs Rtn | -18.9% |
| 3Y Excs Rtn | -53.8% |
Price Behavior
| Market Price | $2.24 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 03/19/2021 | |
| Distance from 52W High | -71.5% | |
| 50 Days | 200 Days | |
| DMA Price | $2.78 | $3.89 |
| DMA Trend | down | down |
| Distance from DMA | -19.5% | -42.4% |
| 3M | 1YR | |
| Volatility | 70.0% | 65.0% |
| Downside Capture | 377.85 | 229.85 |
| Upside Capture | 126.89 | 74.57 |
| Correlation (SPY) | 35.4% | 39.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.00 | 1.04 | 2.20 | 1.95 | 1.35 | 1.12 |
| Up Beta | 0.93 | -0.06 | 1.12 | 1.71 | 1.12 | 1.05 |
| Down Beta | 1.91 | 0.23 | 1.98 | 2.04 | 1.42 | 1.27 |
| Up Capture | 161% | 68% | 152% | 77% | 69% | 43% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 8 | 15 | 27 | 52 | 108 | 354 |
| Down Capture | 710% | 304% | 310% | 249% | 151% | 108% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 23 | 31 | 67 | 133 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AFCG | |
|---|---|---|---|---|
| AFCG | -69.6% | 64.8% | -1.56 | - |
| Sector ETF (XLF) | 5.5% | 19.1% | 0.15 | 40.8% |
| Equity (SPY) | 16.0% | 19.2% | 0.64 | 39.9% |
| Gold (GLD) | 66.9% | 23.7% | 2.11 | 0.6% |
| Commodities (DBC) | 7.0% | 16.3% | 0.23 | 9.8% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 37.3% |
| Bitcoin (BTCUSD) | -19.7% | 39.9% | -0.46 | 23.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AFCG | |
|---|---|---|---|---|
| AFCG | -24.9% | 41.0% | -0.60 | - |
| Sector ETF (XLF) | 14.5% | 18.8% | 0.63 | 36.7% |
| Equity (SPY) | 14.1% | 17.1% | 0.66 | 37.8% |
| Gold (GLD) | 19.9% | 16.6% | 0.97 | 3.9% |
| Commodities (DBC) | 11.4% | 18.9% | 0.49 | 12.2% |
| Real Estate (VNQ) | 4.5% | 18.8% | 0.15 | 33.9% |
| Bitcoin (BTCUSD) | 20.9% | 57.6% | 0.56 | 17.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AFCG | |
|---|---|---|---|---|
| AFCG | -13.3% | 41.0% | -0.60 | - |
| Sector ETF (XLF) | 14.4% | 22.2% | 0.60 | 36.7% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 37.8% |
| Gold (GLD) | 15.0% | 15.3% | 0.81 | 3.9% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 12.2% |
| Real Estate (VNQ) | 5.8% | 20.8% | 0.25 | 33.9% |
| Bitcoin (BTCUSD) | 71.1% | 66.4% | 1.10 | 17.1% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/12/2025 | 0.6% | -13.0% | 8.6% |
| 8/14/2025 | -3.7% | -20.8% | 1.5% |
| 3/13/2025 | -20.4% | -24.7% | -41.2% |
| 11/13/2024 | -2.2% | 1.9% | -0.3% |
| 8/7/2024 | 8.3% | 14.1% | 18.7% |
| 3/7/2024 | 1.9% | 9.1% | 9.2% |
| 11/8/2023 | -1.5% | 2.2% | 10.7% |
| 8/8/2023 | -2.4% | -3.0% | -3.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 7 |
| # Negative | 6 | 6 | 8 |
| Median Positive | 0.6% | 3.5% | 9.2% |
| Median Negative | -2.7% | -15.7% | -3.6% |
| Max Positive | 8.3% | 14.1% | 18.7% |
| Max Negative | -20.4% | -24.7% | -41.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/13/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/10/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tannenbaum, Leonard M | Direct | Buy | 12152025 | 3.05 | 25,000 | 76,250 | 17,876,349 | Form | |
| 2 | Tannenbaum, Leonard M | Direct | Buy | 12102025 | 2.83 | 24,000 | 67,920 | 16,459,557 | Form | |
| 3 | Tannenbaum, Leonard M | Direct | Buy | 12102025 | 3.03 | 20,000 | 60,600 | 17,683,377 | Form | |
| 4 | Tannenbaum, Leonard M | Direct | Buy | 12042025 | 2.94 | 46,000 | 135,240 | 17,028,768 | Form | |
| 5 | Tannenbaum, Leonard M | Direct | Buy | 12032025 | 2.88 | 15,000 | 43,200 | 16,436,442 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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