Affiliated Managers (AMG)
Market Price (12/29/2025): $292.44 | Market Cap: $8.3 BilSector: Financials | Industry: Asset Management & Custody Banks
Affiliated Managers (AMG)
Market Price (12/29/2025): $292.44Market Cap: $8.3 BilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, FCF Yield is 11% | Trading close to highsDist 52W High is -1.3%, Dist 3Y High is -1.3% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.0% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 46%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 45% | Key risksAMG key risks include [1] its dependence on the performance and reputation of its independent affiliates and [2] asset concentration risk within a few major affiliates. | |
| Low stock price volatilityVol 12M is 30% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Digital & Alternative Assets. Themes include Wealth Management Technology, Private Equity, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, FCF Yield is 11% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 46%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 45% |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Digital & Alternative Assets. Themes include Wealth Management Technology, Private Equity, Show more. |
| Trading close to highsDist 52W High is -1.3%, Dist 3Y High is -1.3% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.0% |
| Key risksAMG key risks include [1] its dependence on the performance and reputation of its independent affiliates and [2] asset concentration risk within a few major affiliates. |
Why The Stock Moved
Qualitative Assessment
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1. Strong Third-Quarter 2025 Earnings and Optimistic Fourth-Quarter 2025 Guidance: Investor confidence in AMG was significantly boosted by the announcement of robust third-quarter 2025 results, which showed an 18% year-over-year increase in Economic Earnings per Share, reaching $4.82. Further fueling this optimism was the upbeat guidance provided for the fourth quarter of 2025, with management anticipating economic earnings between $8.10 and $9.26 per share, marking a substantial improvement from the prior year.
2. Successful Strategic Pivot to Private Markets and Liquid Alternatives: A major factor in the stock's appreciation was AMG's continued success in shifting its focus towards private markets and liquid alternatives. This strategic evolution has driven strong client inflows and effectively mitigated weaknesses observed in more traditional investment strategies. As of September 30, 2025, alternative strategies accounted for nearly 44% of the company's Assets Under Management (AUM) and contributed approximately 55% to AMG's earnings, with plans to further increase the earnings contribution from alternatives beyond 66% in the coming years.
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Stock Movement Drivers
Fundamental Drivers
The 22.5% change in AMG stock from 9/29/2025 to 12/29/2025 was primarily driven by a 19.4% change in the company's Net Income Margin (%).| 9292025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 238.72 | 292.44 | 22.50% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2030.50 | 2042.10 | 0.57% |
| Net Income Margin (%) | 21.79% | 26.01% | 19.39% |
| P/E Multiple | 15.38 | 15.63 | 1.67% |
| Shares Outstanding (Mil) | 28.50 | 28.40 | 0.35% |
| Cumulative Contribution | 22.50% |
Market Drivers
9/29/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| AMG | 22.4% | |
| Market (SPY) | 3.6% | 57.1% |
| Sector (XLF) | 2.2% | 54.6% |
Fundamental Drivers
The 48.6% change in AMG stock from 6/30/2025 to 12/29/2025 was primarily driven by a 22.1% change in the company's Net Income Margin (%).| 6302025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 196.75 | 292.44 | 48.63% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2037.60 | 2042.10 | 0.22% |
| Net Income Margin (%) | 21.30% | 26.01% | 22.10% |
| P/E Multiple | 13.23 | 15.63 | 18.14% |
| Shares Outstanding (Mil) | 29.20 | 28.40 | 2.74% |
| Cumulative Contribution | 48.52% |
Market Drivers
6/30/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| AMG | 48.4% | |
| Market (SPY) | 11.6% | 58.2% |
| Sector (XLF) | 6.0% | 60.2% |
Fundamental Drivers
The 55.9% change in AMG stock from 12/29/2024 to 12/29/2025 was primarily driven by a 51.0% change in the company's P/E Multiple.| 12292024 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 187.60 | 292.44 | 55.88% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2019.20 | 2042.10 | 1.13% |
| Net Income Margin (%) | 27.02% | 26.01% | -3.71% |
| P/E Multiple | 10.35 | 15.63 | 51.04% |
| Shares Outstanding (Mil) | 30.10 | 28.40 | 5.65% |
| Cumulative Contribution | 55.39% |
Market Drivers
12/29/2024 to 12/29/2025| Return | Correlation | |
|---|---|---|
| AMG | 55.7% | |
| Market (SPY) | 16.6% | 75.1% |
| Sector (XLF) | 14.7% | 75.7% |
Fundamental Drivers
The 84.7% change in AMG stock from 12/30/2022 to 12/29/2025 was primarily driven by a 38.3% change in the company's P/E Multiple.| 12302022 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 158.32 | 292.44 | 84.72% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2391.90 | 2042.10 | -14.62% |
| Net Income Margin (%) | 22.36% | 26.01% | 16.32% |
| P/E Multiple | 11.31 | 15.63 | 38.29% |
| Shares Outstanding (Mil) | 38.20 | 28.40 | 25.65% |
| Cumulative Contribution | 72.56% |
Market Drivers
12/30/2023 to 12/29/2025| Return | Correlation | |
|---|---|---|
| AMG | 93.0% | |
| Market (SPY) | 47.9% | 67.0% |
| Sector (XLF) | 51.0% | 70.9% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AMG Return | 21% | 62% | -4% | -4% | 22% | 60% | 251% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 151% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| AMG Win Rate | 42% | 75% | 50% | 42% | 50% | 67% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| AMG Max Drawdown | -47% | -3% | -32% | -23% | -3% | -22% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[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] 2025 data is for the year up to 12/29/2025 (YTD)
How Low Can It Go
| Event | AMG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -41.2% | -25.4% |
| % Gain to Breakeven | 70.2% | 34.1% |
| Time to Breakeven | 746 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.1% | -33.9% |
| % Gain to Breakeven | 96.6% | 51.3% |
| Time to Breakeven | 238 days | 148 days |
| 2018 Correction | ||
| % Loss | -66.7% | -19.8% |
| % Gain to Breakeven | 200.5% | 24.7% |
| Time to Breakeven | 2,117 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -85.9% | -56.8% |
| % Gain to Breakeven | 610.5% | 131.3% |
| Time to Breakeven | 1,505 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Affiliated Managers's stock fell -41.2% during the 2022 Inflation Shock from a high on 11/3/2021. A -41.2% loss requires a 70.2% gain to breakeven.
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Asset Allocation
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AI Analysis | Feedback
1. Berkshire Hathaway, but exclusively for boutique investment management firms. AMG acquires majority stakes in independent investment firms, allowing them to operate autonomously while benefiting from AMG's capital, distribution, and strategic support.
2. A Marriott International or Hilton Worldwide for independent investment management firms. Similar to how major hotel groups own a portfolio of distinct hotel brands (e.g., Ritz-Carlton, Courtyard) that operate independently but leverage the parent company's resources, AMG partners with and supports a collection of specialized investment management firms.
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- Equity Investment Management: Providing actively managed portfolios focused on investing in public company stocks across various geographies, market capitalizations, and investment styles.
- Fixed Income Investment Management: Offering strategies that invest in diverse debt securities, including government, corporate, and municipal bonds, across the risk and maturity spectrum.
- Alternative Investment Management: Managing specialized strategies such as hedge funds, private equity, real estate, and other less traditional assets to achieve differentiated returns and diversification.
- Multi-Asset & Quantitative Solutions: Delivering customized investment solutions that combine various asset classes and utilize systematic, data-driven approaches for portfolio construction and risk management.
AI Analysis | Feedback
Affiliated Managers Group (AMG) is a global asset management company. Through its independent investment Affiliates, AMG serves a diverse client base that includes both institutional investors (other companies/organizations) and individuals. Given that AMG's major institutional clients typically comprise entities such as public and corporate pension funds, endowments, and foundations, which are generally not publicly traded companies with stock symbols, the major customers are best described by the following categories:
- Institutional Investors: This category includes a wide array of organizations such as public and corporate pension funds, endowments, foundations, sovereign wealth funds, and other institutional asset pools. These clients typically represent large pools of capital managed on behalf of beneficiaries or for specific organizational purposes.
- High-Net-Worth Individuals and Families: Affiliates manage assets for wealthy individuals, family offices, and private banks that require sophisticated and customized investment strategies to preserve and grow their substantial wealth.
- Retail Investors: Individual investors who access investment solutions offered by AMG's Affiliates, often through mutual funds, collective investment trusts, or other pooled investment vehicles, frequently via financial advisors or brokerage platforms.
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Jay C. Horgen, Chief Executive Officer
Jay C. Horgen was appointed President and Chief Executive Officer of Affiliated Managers Group (AMG) in 2019, following his tenure as Chief Financial Officer from 2011 to 2019 and Executive Vice President, New Investments prior to 2011. Before joining AMG in 2007, Mr. Horgen founded Eastside Partners, a private equity firm, where he served as a Managing Director. From 1993 to 2005, he worked in investment banking, focusing on asset management in the Financial Institutions Groups at Merrill Lynch & Co. and Goldman Sachs & Co., where he was a Managing Director.
Dava Ritchea, Chief Financial Officer
Dava Ritchea joined AMG as Chief Financial Officer in 2024. Prior to her role at AMG, Ms. Ritchea served as Chief Financial Officer at Sculptor Capital Management Inc., where she was also a member of the firm's Partner Management Committee. From 2017 to 2021, she was the Chief Financial Officer at Assured Investment Management LLC (formerly BlueMountain Capital Management, LLC). Her earlier career included investment banking and strategy positions at Credit Suisse Group AG, Barclays Capital Inc., and Lehman Brothers Inc.
Thomas M. Wojcik, President and Chief Operating Officer
Thomas M. Wojcik is the President and Chief Operating Officer of AMG. He previously served as the Company's Chief Financial Officer from 2019 to 2024. Before joining AMG in 2019, Mr. Wojcik was the Chief Financial Officer for Europe, Middle East, and Africa (EMEA), Head of EMEA Strategy, and Global Head of Investor Relations at BlackRock, Inc. From 2002 to 2011, he held roles as an investor at Hunter Global Investors, Durham Asset Management, and Nautic Partners, and as an investment banker in the Financial Institutions Group at Merrill Lynch & Co.
Nathaniel Dalton, Co-Founder and Former President and CEO
Nathaniel Dalton is a Co-Founder and Former President and Chief Executive Officer of Affiliated Managers Group (AMG). He served as CEO from 2018 to 2019. Prior to that, he was Chief Operating Officer of AMG since 2006 and was named President in 2011. Mr. Dalton joined AMG in 1996 as its first General Counsel. Before his time at AMG, he was an attorney at Goodwin Procter LLP in Boston, specializing in mergers and acquisitions, including those in the asset management industry. He is also the Co-Founder and CEO of Sora Union and Founder of Daybreak Partners. Mr. Dalton has invested in companies such as Binah.ai, Airtime, and care.coach.
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The key risks to Affiliated Managers Group (AMG) are primarily driven by its business model and the broader financial industry landscape:
- Dependence on Market Conditions and Assets Under Management (AUM) Volatility: AMG's financial performance is highly sensitive to fluctuations in global financial markets, economic conditions, and investor sentiment. A decline in market values or a shift in investor preferences away from AMG's investment strategies can lead to reduced assets under management, directly impacting the fees generated and overall revenue. The company faces ongoing outflows from traditional active equity strategies, which it is working to offset through growth in alternative investments.
- Operational Risks Associated with its Affiliate Model and Dependence on Affiliate Performance: AMG's business model relies on the performance and reputation of its independent Affiliates. Any adverse events affecting an Affiliate, such as poor investment performance, compliance failures, reputational damage, or cyber-attacks, could negatively impact AMG's business relationships and financial results. Furthermore, the concentration of assets within a few major Affiliates means that underperformance by these key firms could disproportionately affect AMG's consolidated financials.
- Regulatory Changes and Increasing Compliance Costs: Operating in a highly regulated financial industry, AMG is exposed to complex and evolving regulations across various jurisdictions. Changes in regulatory requirements, including those related to environmental, social, and governance (ESG) factors or international tax laws (like the OECD's Pillar Two initiative), can increase compliance costs and necessitate significant operational adjustments, potentially impacting the company's financial condition.
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Affiliated Managers Group (AMG) operates in the global asset and wealth management markets, offering diverse investment strategies across various asset classes, including equities, alternative investments, multi-asset, and fixed income strategies. These services are provided to institutional, high-net-worth, and retail clients worldwide. The estimated addressable markets for AMG's main products and services are as follows:- Global Asset Management Market: The global assets under management (AUM) market was valued at approximately USD 685.09 billion in 2024 and is projected to reach around USD 12,741.10 billion by 2034, growing at a compound annual growth rate (CAGR) of 33.95% from 2025 to 2034.
- Global Wealth Management Market: The worldwide wealth management industry is estimated to hold approximately USD 103 trillion in assets under management (AUM).
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Affiliated Managers Group (AMG) is expected to drive future revenue growth over the next two to three years through several key strategies:
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Expansion in Alternative Strategies and Private Markets: AMG anticipates continued growth by focusing on alternative investment strategies, particularly within private markets. The company has demonstrated success in raising substantial capital through its private market affiliates, indicating robust demand for these specialized strategies.
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Strategic Investments in New and Existing Affiliates: A core part of AMG's strategy involves making equity investments in leading independent investment management firms. The company collaborates with these Affiliates, providing growth capital, product development expertise, and distribution support to enhance their evolution and magnify their long-term success.
-
Product Development and Distribution for the U.S. Wealth Market: AMG is actively working with its Affiliates to develop and distribute alternative products specifically tailored for the U.S. wealth market. This focus has already led to significant net inflows, such as with the AMG Pantheon fund, and is expected to continue contributing to revenue growth.
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Evolution of Business Mix Towards Secular Growth Areas: The company is deliberately shifting its business mix towards areas experiencing secular demand, including private markets and sustainable investing. This strategic repositioning aims to enhance AMG's long-term organic growth profile by aligning with enduring market trends.
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Share Repurchases
- Year-to-date in 2025, Affiliated Managers Group (AMG) repurchased approximately $350 million in common stock.
- From the second quarter of 2020 to the second quarter of 2025, AMG returned approximately $2.8 billion in excess capital through share repurchases and dividends, leading to a 38% reduction in the adjusted diluted share count.
- The board authorized a share repurchase program in July 2024 for up to 5.4 million shares. This is in addition to existing, unexpired authorizations from January 2022 for 2.0 million shares and January 2021 for 5.0 million shares.
Share Issuance
- In March 2025, AMG entered into an equity distribution agreement, allowing for the potential offering and sale of up to $500,000,000 in common stock, intended for general corporate purposes including funding investments.
- In June 2025, a one-time award of restricted stock units with a fair value of $5 million was granted to Thomas M. Wojcik upon his appointment as President.
Outbound Investments
- In 2025, AMG announced four new partnerships with firms managing alternative strategies, including Verition Fund Management, Qualitas Energy, and NorthBridge Partners, committing over $1 billion across five new growth investments.
- AMG also formed a strategic collaboration and made an investment with Brown Brothers Harriman (BBH) in 2025 to develop U.S. wealth-market alternative credit products.
- AMG strategically divested its equity interest in Peppertree Capital Management in July 2025, receiving approximately $240 million, and announced the sale of its minority stake in Comvest Partners' private credit business for approximately $285 million, expected to close in the fourth quarter of 2025.
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Trade Ideas
Select ideas related to AMG. For more, see Trefis Trade Ideas.
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| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 14.5% | 14.5% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.5% | -1.5% | -1.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.5% | -4.5% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.6% | 7.6% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.1% | -11.1% | -12.1% |
Research & Analysis
Invest in Strategies
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Peer Comparisons for Affiliated Managers
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 175.83 |
| Mkt Cap | 159.0 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 20.1% |
| Op Mgn 3Y Avg | 20.3% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 22.2% |
| CFO/Rev 3Y Avg | 23.8% |
| FCF/Rev LTM | 20.1% |
| FCF/Rev 3Y Avg | 21.6% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Single Segment | 2,058 | ||||
| Global Investment Management | 2,330 | 2,412 | 2,028 | 2,240 | |
| Total | 2,058 | 2,330 | 2,412 | 2,028 | 2,240 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Single Segment | 673 | ||||
| Total | 673 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Single Segment | 9,060 | ||||
| Total | 9,060 |
Price Behavior
| Market Price | $292.08 | |
| Market Cap ($ Bil) | 8.3 | |
| First Trading Date | 11/21/1997 | |
| Distance from 52W High | -1.3% | |
| 50 Days | 200 Days | |
| DMA Price | $262.07 | $214.24 |
| DMA Trend | up | up |
| Distance from DMA | 11.4% | 36.3% |
| 3M | 1YR | |
| Volatility | 29.6% | 30.0% |
| Downside Capture | 115.22 | 113.97 |
| Upside Capture | 194.01 | 140.69 |
| Correlation (SPY) | 56.8% | 75.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.09 | 1.28 | 1.20 | 1.30 | 1.16 | 1.09 |
| Up Beta | -0.78 | 0.42 | 0.68 | 0.97 | 1.08 | 1.06 |
| Down Beta | 0.66 | 1.42 | 1.38 | 1.19 | 1.14 | 1.13 |
| Up Capture | 285% | 190% | 167% | 205% | 167% | 124% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 12 | 23 | 36 | 73 | 134 | 403 |
| Down Capture | 98% | 117% | 99% | 109% | 108% | 102% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 7 | 18 | 26 | 52 | 114 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of AMG With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| AMG | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 58.2% | 15.4% | 16.7% | 65.4% | 7.5% | 4.2% | -7.3% |
| Annualized Volatility | 29.9% | 19.0% | 19.4% | 19.8% | 15.3% | 17.0% | 34.9% |
| Sharpe Ratio | 1.54 | 0.63 | 0.67 | 2.43 | 0.27 | 0.08 | -0.05 |
| Correlation With Other Assets | 75.8% | 75.2% | 10.3% | 31.3% | 53.0% | 33.2% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of AMG With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| AMG | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 23.9% | 16.2% | 14.8% | 17.7% | 11.2% | 5.1% | 30.2% |
| Annualized Volatility | 32.7% | 18.9% | 17.1% | 15.6% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.72 | 0.72 | 0.70 | 0.91 | 0.48 | 0.18 | 0.57 |
| Correlation With Other Assets | 69.6% | 65.9% | 8.4% | 17.5% | 50.3% | 30.9% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of AMG With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| AMG | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 7.0% | 13.4% | 15.0% | 14.6% | 6.9% | 5.4% | 69.0% |
| Annualized Volatility | 34.8% | 22.3% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.29 | 0.56 | 0.72 | 0.82 | 0.31 | 0.23 | 0.89 |
| Correlation With Other Assets | 74.5% | 69.5% | -1.0% | 26.4% | 52.4% | 19.2% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2025 | 7.8% | 9.0% | 14.1% |
| 7/31/2025 | -0.3% | 1.6% | 8.0% |
| 5/8/2025 | 3.4% | 3.9% | 4.0% |
| 2/6/2025 | 0.2% | -8.4% | -12.5% |
| 11/4/2024 | -8.6% | -4.6% | -4.7% |
| 7/29/2024 | 3.9% | -4.2% | -2.0% |
| 5/6/2024 | -1.9% | -1.7% | -0.6% |
| 2/5/2024 | 4.8% | 4.2% | 6.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 13 | 15 |
| # Negative | 8 | 11 | 9 |
| Median Positive | 3.5% | 4.2% | 6.1% |
| Median Negative | -2.8% | -4.2% | -7.2% |
| Max Positive | 17.5% | 31.6% | 27.5% |
| Max Negative | -12.4% | -12.2% | -18.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/06/2025 | 10-Q (09/30/2025) |
| 06/30/2025 | 08/07/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/08/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 02/14/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 11/07/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/02/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/07/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 02/16/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 11/06/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/07/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/08/2023 | 10-Q (03/31/2023) |
| 12/31/2022 | 02/17/2023 | 10-K (12/31/2022) |
| 09/30/2022 | 11/07/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 08/04/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 05/06/2022 | 10-Q (03/31/2022) |
| 12/31/2021 | 02/18/2022 | 10-K (12/31/2021) |
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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