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Cullen/Frost Bankers (CFR)

Market Price (12/29/2025): $128.62 | Market Cap: $8.2 Bil
Sector: Financials | Industry: Regional Banks

Cullen/Frost Bankers (CFR)

Market Price (12/29/2025): $128.62
Market Cap: $8.2 Bil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 3.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.6%		 Weak multi-year price returns
2Y Excs Rtn is -18%, 3Y Excs Rtn is -72%		 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 52x
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -223%		  Key risks
CFR key risks include [1] significant concentration in the Texas market and [2] intense competitive pressure within that market.
2 Low stock price volatility
Vol 12M is 28%		  
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, and Online Banking & Lending. 		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 3.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.6%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -223%
2 Low stock price volatility
Vol 12M is 28%
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, and Online Banking & Lending.
4 Weak multi-year price returns
2Y Excs Rtn is -18%, 3Y Excs Rtn is -72%
5 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 52x
6 Key risks
CFR key risks include [1] significant concentration in the Texas market and [2] intense competitive pressure within that market.

Valuation, Metrics & Events

CFR Stock

Why The Stock Moved

Qualitative Assessment

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Here are key points highlighting Cullen/Frost Bankers (CFR) stock movement for the approximate time period from August 31, 2025, to December 29, 2025:



1. Q3 2025 Earnings Performance: Cullen/Frost Bankers reported robust third-quarter 2025 performance, with earnings per share (EPS) of $2.67, exceeding forecasts. This positive financial result was announced around October 30, 2025, and could have provided underlying support or upward pressure on the stock during this period.

2. Stock Price Decline on December 16, 2025: The stock experienced a decline of -0.59% on December 16, 2025, which is notably close to the specified 0.5% movement. This fall occurred within a broader period of consolidation that began around December 11, 2025, which saw a total price change of -1.24% over several days.

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Stock Movement Drivers

Fundamental Drivers

The 0.6% change in CFR stock from 9/28/2025 to 12/28/2025 was primarily driven by a 2.3% change in the company's Total Revenues ($ Mil).
928202512282025Change
Stock Price ($)127.85128.600.59%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2141.492190.532.29%
Net Income Margin (%)28.45%29.09%2.23%
P/E Multiple13.4912.93-4.14%
Shares Outstanding (Mil)64.3064.080.34%
Cumulative Contribution0.59%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025
ReturnCorrelation
CFR0.6% 
Market (SPY)4.3%42.4%
Sector (XLF)3.3%78.1%

Fundamental Drivers

The 1.3% change in CFR stock from 6/29/2025 to 12/28/2025 was primarily driven by a 4.2% change in the company's Total Revenues ($ Mil).
629202512282025Change
Stock Price ($)126.92128.601.33%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2102.512190.534.19%
Net Income Margin (%)28.43%29.09%2.31%
P/E Multiple13.6412.93-5.20%
Shares Outstanding (Mil)64.2664.080.27%
Cumulative Contribution1.32%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025
ReturnCorrelation
CFR1.3% 
Market (SPY)12.6%42.2%
Sector (XLF)7.4%69.8%

Fundamental Drivers

The -2.0% change in CFR stock from 12/28/2024 to 12/28/2025 was primarily driven by a -18.3% change in the company's P/E Multiple.
1228202412282025Change
Stock Price ($)131.18128.60-1.97%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2029.422190.537.94%
Net Income Margin (%)26.13%29.09%11.33%
P/E Multiple15.8212.93-18.26%
Shares Outstanding (Mil)63.9664.08-0.19%
Cumulative Contribution-1.97%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025
ReturnCorrelation
CFR-2.0% 
Market (SPY)17.0%68.0%
Sector (XLF)15.3%76.7%

Fundamental Drivers

The 4.8% change in CFR stock from 12/29/2022 to 12/28/2025 was primarily driven by a 42.1% change in the company's Total Revenues ($ Mil).
1229202212282025Change
Stock Price ($)122.72128.604.79%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1541.732190.5342.08%
Net Income Margin (%)31.72%29.09%-8.29%
P/E Multiple16.1012.93-19.67%
Shares Outstanding (Mil)64.1664.080.12%
Cumulative Contribution4.79%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025
ReturnCorrelation
CFR26.3% 
Market (SPY)48.4%54.9%
Sector (XLF)51.8%74.0%

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
CFR Return-8%48%9%-17%28%-1%57%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
CFR Win Rate42%75%50%50%50%50% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
CFR Max Drawdown-49%0%-8%-36%-11%-21% 
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. See CFR Returns vs. Peers.
[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 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventCFRS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-47.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven89.6%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-49.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven98.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven297 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-33.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven50.4%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven611 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-41.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven71.4%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,530 days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Cullen/Frost Bankers's stock fell -47.3% during the 2022 Inflation Shock from a high on 11/8/2022. A -47.3% loss requires a 89.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Cullen/Frost Bankers (CFR)

Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services. It also provides consumer banking services, such as checking accounts, savings programs, automated-teller machines (ATMs), overdraft facilities, installment and real estate loans, home equity loans and lines of credit, drive-in and night deposit services, safe deposit facilities, and brokerage services. In addition, the company offers international banking services comprising deposits, loans, letters of credit, foreign collections, funds, and foreign exchange services. Further, it acts as a correspondent for approximately 171 financial institutions; offers trust, investment, agency, and custodial services for individual and corporate clients; provides capital market services that include sales and trading, new issue underwriting, money market trading, advisory, and securities safekeeping and clearance; and supports international business activities. Additionally, the company offers insurance and securities brokerage services; and holds securities for investment purposes, as well as investment management services to Frost-managed mutual funds, institutions, and individuals. It operates approximately 157 financial centers and 1,650 ATMs. The company serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. Cullen/Frost Bankers, Inc. was founded in 1868 and is headquartered in San Antonio, Texas.

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1. The PNC Bank of Texas.

2. A more traditional, Texas-focused JPMorgan Chase.

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  • Personal Banking Services: Offers checking accounts, savings accounts, credit cards, and various consumer loans such as mortgages and auto loans.
  • Business Banking Services: Provides business checking and savings accounts, commercial loans, lines of credit, and treasury management solutions for businesses.
  • Wealth Management & Trust Services: Delivers financial planning, investment management, private banking, and fiduciary services for individuals and institutions.
  • Insurance Services: Sells a range of insurance products including property, casualty, life, and health coverage.

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For Cullen/Frost Bankers (CFR), as a diversified financial institution, its primary customers are not a few named companies in a traditional business-to-business supplier relationship. Instead, it serves a broad base of clients across various segments. The company provides banking and financial services to both individuals and businesses.

Its customer categories typically include:

  1. Individual Consumers: This category encompasses individuals and families who utilize a range of personal banking services. These services include checking and savings accounts, mortgages, home equity loans, personal loans, credit cards, and wealth management services for their financial planning and investment needs.
  2. Small and Medium-sized Businesses (SMBs): These are local and regional enterprises that rely on Frost Bank for commercial banking solutions. Services for SMBs include business checking and savings accounts, commercial loans, lines of credit, equipment financing, treasury management services, and merchant services to manage their daily operations and and facilitate growth.
  3. Corporate and Institutional Clients: This category serves larger corporations, non-profit organizations, governmental entities, and other financial institutions. They typically require more complex banking services such as larger commercial real estate loans, specialized financing, syndicated credit facilities, and advanced treasury and cash management solutions.

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Here is the management team for Cullen/Frost Bankers (CFR):

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Cullen/Frost Bankers (CFR) faces several key risks inherent to the banking industry and its specific market focus.
  1. Regulatory and Economic Uncertainties, and Concentration in the Texas Market: Cullen/Frost Bankers operates in a heavily regulated industry, and changes in federal and state banking regulations can significantly impact its operations and profitability. Furthermore, the company's exclusive focus on the Texas market, while a strength in regional expertise, also presents a significant concentration risk. Economic downturns, specific regulatory changes, or intense competitive dynamics within Texas could disproportionately affect CFR's financial stability and performance. The ability to declare and pay dividends is also dependent on federal regulatory considerations.
  2. Competitive Pressure: The banking market in Texas is highly competitive, with numerous financial institutions vying for market share. This intense competition can impact Cullen/Frost Bankers' ability to attract and retain customers, grow its loan and deposit portfolios, and maintain profitability.
  3. Credit Risk and Loan Quality: As a lending institution, Cullen/Frost Bankers is inherently exposed to credit risk, which is the risk of losses arising from a borrower's failure to repay a loan. Recent disclosures from peer banks regarding rising loan quality concerns underscore the importance of this risk, as it could impact CFR's future loan performance and overall profitability.

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The increasing competition from digital-only banks (neobanks) and specialized fintech companies that offer agile, often lower-cost, and digitally native banking services (e.g., deposits, payments, consumer and small business lending), directly challenging traditional banks' ability to attract and retain customers without the overhead of a physical branch network.

The expansion of large technology companies into financial services, leveraging their massive user bases, data analytics, and brand loyalty to offer specific financial products (e.g., high-yield savings accounts, payment solutions, buy-now-pay-later services), which can disintermediate traditional banks from direct customer relationships and core banking activities.

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Cullen/Frost Bankers, Inc. (CFR) operates primarily in Texas, offering a comprehensive suite of financial services. Their main products and services include commercial banking, consumer banking, and wealth management.

The estimated addressable market sizes for Cullen/Frost Bankers' main products and services are as follows:

  • Commercial Banking: The market size for the Commercial Banking industry in Texas is projected to be $108.7 billion in 2025.
  • Consumer Banking: The United States retail banking market, which encompasses consumer banking services, is estimated at USD 0.87 trillion (or $870 billion) in 2025.
  • Wealth Management: The United States private banking market, a key component of wealth management services, is valued at USD 59.54 billion in 2025 and is projected to reach USD 94.89 billion by 2030.

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Cullen/Frost Bankers (CFR) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:

  1. Organic Branch Expansion: The company's ongoing strategy of expanding its physical branch network, particularly in major Texas markets like Dallas and Houston, is a central driver. Management anticipates increased contributions to earnings as these newer branches mature, leading to new customer acquisition, deposit inflows, and loan growth.

  2. Growth in Lending Portfolio: Cullen/Frost Bankers expects continued growth across its lending portfolio. This includes robust performance in commercial loans, such as energy and commercial & industrial (C&I) segments, as well as significant expansion in consumer real estate loans, including mortgage lending.

  3. Expansion of Non-Interest Income: The company projects growth in non-interest income, which includes revenue generated from investment management fees and service charges on deposit accounts. Recent guidance from management indicates an upward revision in the expected growth range for non-interest income.

  4. Consistent Deposit Growth: As a deposit-led financial institution, Cullen/Frost Bankers emphasizes attracting and growing its deposit base. Sustained deposit inflows are crucial for funding loan expansion and maintaining a stable net interest margin.

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Share Repurchases

  • Cullen/Frost Bankers authorized a $150.0 million stock repurchase plan on January 29, 2025, expiring January 28, 2026.
  • The company repurchased $39.0 million of shares under a publicly announced plan during 2023.
  • No shares were repurchased under a publicly announced stock repurchase plan in 2021 or 2022.

Share Issuance

  • On November 19, 2020, Cullen/Frost issued 150,000 shares, totaling $150.0 million in aggregate liquidation preference, of its 4.450% Non-Cumulative Perpetual Preferred Stock, Series B.
  • The number of common shares outstanding has remained relatively stable over the past few years, with minor fluctuations related to compensation awards rather than large public issuances.

Capital Expenditures

  • Capital expenditures for the last 12 months were approximately -$141.08 million.
  • A primary focus of capital expenditures has been on organic growth through the opening of new branch locations and expansion into key Texas markets such as Houston, Dallas, and Austin.

Latest Trefis Analyses

Title
0ARTICLES

Trade Ideas

Select ideas related to CFR. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
WU_11212025_Dip_Buyer_FCFYield11212025WUWestern UnionDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		14.5%14.5%-0.4%
COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025COINCoinbase GlobalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-1.5%-1.5%-1.5%
PYPL_11142025_Dip_Buyer_FCFYield11142025PYPLPayPalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-4.5%-4.5%-7.5%
V_11142025_Monopoly_xInd_xCD_Getting_Cheaper11142025VVisaMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		7.6%7.6%-2.7%
WD_11072025_Dip_Buyer_ValueBuy11072025WDWalker & DunlopDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-11.1%-11.1%-12.1%

Recent Active Movers

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Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Cullen/Frost Bankers

Peers to compare with:

Financials

CFRHPQHPEIBMCSCOAAPLMedian
NameCullen/F.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price128.6023.2624.49305.0978.16273.40103.38
Mkt Cap8.221.932.6284.9309.24,074.4158.8
Rev LTM2,19155,29534,29665,40257,696408,62556,496
Op Inc LTM-3,6241,64411,54412,991130,21411,544
FCF LTM162,80062711,85412,73396,1847,327
FCF 3Y Avg4362,9781,40011,75313,879100,5037,366
CFO LTM1583,6972,91913,48313,744108,5658,590
CFO 3Y Avg5813,6723,89613,49814,736111,5598,697

Growth & Margins

CFRHPQHPEIBMCSCOAAPLMedian
NameCullen/F.HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM7.9%3.2%13.8%4.5%8.9%6.0%7.0%
Rev Chg 3Y Avg13.0%-3.9%6.5%2.6%3.7%1.8%3.2%
Rev Chg Q9.5%4.2%14.4%9.1%7.5%9.6%9.3%
QoQ Delta Rev Chg LTM2.3%1.1%3.7%2.1%1.8%2.1%2.1%
Op Mgn LTM-6.6%4.8%17.7%22.5%31.9%17.7%
Op Mgn 3Y Avg-7.4%7.2%16.4%24.2%30.8%16.4%
QoQ Delta Op Mgn LTM--0.2%-1.4%0.6%0.4%0.1%0.1%
CFO/Rev LTM7.2%6.7%8.5%20.6%23.8%26.6%14.6%
CFO/Rev 3Y Avg28.7%6.8%12.7%21.4%26.1%28.4%23.8%
FCF/Rev LTM0.7%5.1%1.8%18.1%22.1%23.5%11.6%
FCF/Rev 3Y Avg21.6%5.5%4.6%18.6%24.6%25.6%20.1%

Valuation

CFRHPQHPEIBMCSCOAAPLMedian
NameCullen/F.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap8.221.932.6284.9309.24,074.4158.8
P/S3.80.41.04.45.410.04.1
P/EBIT-6.819.925.122.531.322.5
P/E12.98.6572.736.029.941.033.0
P/CFO52.35.911.221.122.537.521.8
Total Yield10.8%14.1%2.3%5.0%5.4%2.8%5.2%
Dividend Yield3.1%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg6.7%10.6%5.5%6.4%6.0%3.1%6.2%
D/E0.00.50.70.20.10.00.2
Net D/E-2.20.30.60.20.00.00.1

Returns

CFRHPQHPEIBMCSCOAAPLMedian
NameCullen/F.HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn3.9%-3.6%12.7%-1.1%1.6%-2.0%0.2%
3M Rtn0.6%-11.9%2.7%7.9%17.0%7.1%4.9%
6M Rtn1.3%-4.0%34.5%6.6%15.2%36.3%10.9%
12M Rtn-2.0%-27.0%16.2%40.5%34.5%7.5%11.8%
3Y Rtn4.8%-3.7%67.3%141.3%79.6%114.1%73.5%
1M Excs Rtn1.1%-5.6%12.9%-2.2%-0.0%-3.7%-1.1%
3M Excs Rtn-3.7%-16.2%-1.7%3.6%12.7%2.8%0.6%
6M Excs Rtn-10.9%-16.3%22.3%-5.7%3.0%24.0%-1.3%
12M Excs Rtn-17.3%-42.9%-0.7%25.0%19.9%-8.4%-4.6%
3Y Excs Rtn-71.6%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Banking1,8141,5261,2111,3031,229
Frost Wealth Advisors187181170148150
Non-Banks-13-11-9-9-11
Total1,9871,6961,3721,4411,368


Net Income by Segment
$ Mil20242023202220212020
Banking579552415322436
Frost Wealth Advisors3338371920
Non-Banks-21-18-16-18-21
Total591572436324436


Price Behavior

Price Behavior
Market Price$128.60 
Market Cap ($ Bil)8.2 
First Trading Date03/26/1990 
Distance from 52W High-8.6% 
   50 Days200 Days
DMA Price$124.45$124.05
DMA Trendindeterminateindeterminate
Distance from DMA3.3%3.7%
 3M1YR
Volatility22.7%27.9%
Downside Capture58.56106.10
Upside Capture49.3887.61
Correlation (SPY)41.9%68.0%
CFR Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta0.370.770.690.960.991.06
Up Beta-0.060.861.151.330.881.07
Down Beta0.331.181.031.131.120.97
Up Capture48%41%21%54%83%87%
Bmk +ve Days12253873141426
Stock +ve Days8213163124379
Down Capture48%70%59%99%108%105%
Bmk -ve Days7162452107323
Stock -ve Days11203162124370

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of CFR With Other Asset Classes (Last 1Y)
 CFRSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-0.2%16.3%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility27.7%19.0%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio-0.020.670.722.700.340.09-0.08
Correlation With Other Assets 76.7%68.1%-8.0%28.8%60.8%22.7%

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 CFR With Other Asset Classes (Last 5Y)
 CFRSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return11.0%16.1%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility30.7%18.9%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio0.390.710.700.970.500.160.57
Correlation With Other Assets 72.7%52.1%-6.0%17.2%45.9%19.4%

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 CFR With Other Asset Classes (Last 10Y)
 CFRSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return10.7%13.2%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility34.1%22.3%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.390.550.710.860.320.220.90
Correlation With Other Assets 79.1%60.1%-12.8%27.6%49.9%12.2%

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

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity2,172,930
Short Interest: % Change Since 11302025-22.2%
Average Daily Volume457,723
Days-to-Cover Short Interest4.75
Basic Shares Quantity64,080,473
Short % of Basic Shares3.4%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/30/20251.7%2.2%3.5%
7/31/2025-4.9%-7.7%-2.4%
5/1/20253.3%5.3%9.9%
1/30/20251.2%1.1%-0.6%
10/31/2024-2.4%10.1%8.5%
7/25/20243.4%2.8%-4.2%
4/25/2024-5.2%-9.9%-12.8%
1/25/20240.5%-2.4%-1.3%
...
SUMMARY STATS   
# Positive151514
# Negative9910
Median Positive3.3%3.3%5.3%
Median Negative-2.8%-5.0%-4.5%
Max Positive10.1%10.1%31.9%
Max Negative-7.6%-12.0%-18.0%

SEC Filings

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Report DateFiling DateFiling
93020251030202510-Q 9/30/2025
6302025731202510-Q 6/30/2025
3312025501202510-Q 3/31/2025
12312024206202510-K 12/31/2024
93020241031202410-Q 9/30/2024
6302024725202410-Q 6/30/2024
3312024425202410-Q 3/31/2024
12312023206202410-K 12/31/2023
93020231026202310-Q 9/30/2023
6302023727202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022203202310-K 12/31/2022
93020221027202210-Q 9/30/2022
6302022728202210-Q 6/30/2022
3312022428202210-Q 3/31/2022
12312021204202210-K 12/31/2021

Industry Resources

External Quote Links


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