Gladstone Investment (GAIN)
Market Price (1/19/2026): $14.08 | Market Cap: $541.3 MilSector: Financials | Industry: Asset Management & Custody Banks
Gladstone Investment (GAIN)
Market Price (1/19/2026): $14.08Market Cap: $541.3 MilSector: 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 32%, Dividend Yield is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 28% | Trading close to highsDist 52W High is -0.8%, Dist 3Y High is -0.8% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 102% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 138% | Weak multi-year price returns2Y Excs Rtn is -26%, 3Y Excs Rtn is -18% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -200%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -200% |
| Low stock price volatilityVol 12M is 21% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.82 | Key risksGAIN key risks include [1] elevated credit risk from a portfolio with a non-accrual rate significantly higher than the sector average and [2] high sensitivity to falling interest rates due to its specific asset-liability structure of floating-rate investments funded by fixed-rate debt. |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Equity, and Private Credit. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 32%, Dividend Yield is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 28% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 138% |
| Low stock price volatilityVol 12M is 21% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Equity, and Private Credit. |
| Trading close to highsDist 52W High is -0.8%, Dist 3Y High is -0.8% |
| Weak multi-year price returns2Y Excs Rtn is -26%, 3Y Excs Rtn is -18% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.82 |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 102% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -200%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -200% |
| Key risksGAIN key risks include [1] elevated credit risk from a portfolio with a non-accrual rate significantly higher than the sector average and [2] high sensitivity to falling interest rates due to its specific asset-liability structure of floating-rate investments funded by fixed-rate debt. |
Why The Stock Moved
Qualitative Assessment
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Here are five key points explaining Gladstone Investment (GAIN)'s stock movement from October 31, 2025, to January 19, 2026:
1. Acquisition of Rowan Energy: Gladstone Investment Corporation completed the acquisition of Rowan Energy on December 12, 2025. This expansion through acquisition likely contributed positively to investor confidence.
2. Consistent Dividend Declarations: The company announced monthly cash distributions for October, November, and December 2025, followed by similar declarations for January, February, and March 2026. These regular payouts, including a declared monthly dividend of $0.08, tend to support stock stability and investor appeal.
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1. Acquisition of Rowan Energy: Gladstone Investment Corporation completed the acquisition of Rowan Energy on December 12, 2025. This expansion through acquisition likely contributed positively to investor confidence.
2. Consistent Dividend Declarations: The company announced monthly cash distributions for October, November, and December 2025, followed by similar declarations for January, February, and March 2026. These regular payouts, including a declared monthly dividend of $0.08, tend to support stock stability and investor appeal.
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Stock Movement Drivers
Fundamental Drivers
The 3.0% change in GAIN stock from 10/31/2025 to 1/18/2026 was primarily driven by a 14.8% change in the company's Total Revenues ($ Mil).| 10312025 | 1182026 | Change | |
|---|---|---|---|
| Stock Price ($) | 13.66 | 14.07 | 3.00% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 74.11 | 85.11 | 14.84% |
| Net Income Margin (%) | 107.43% | 109.08% | 1.54% |
| P/E Multiple | 6.33 | 5.83 | -8.00% |
| Shares Outstanding (Mil) | 36.91 | 38.45 | -4.16% |
| Cumulative Contribution | 2.82% |
Market Drivers
10/31/2025 to 1/18/2026| Return | Correlation | |
|---|---|---|
| GAIN | 3.0% | |
| Market (SPY) | 1.4% | 7.7% |
| Sector (XLF) | 4.0% | 24.4% |
Fundamental Drivers
The 4.2% change in GAIN stock from 7/31/2025 to 1/18/2026 was primarily driven by a 38.1% change in the company's Total Revenues ($ Mil).| 7312025 | 1182026 | Change | |
|---|---|---|---|
| Stock Price ($) | 13.50 | 14.07 | 4.24% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 61.63 | 85.11 | 38.09% |
| Net Income Margin (%) | 105.98% | 109.08% | 2.93% |
| P/E Multiple | 7.61 | 5.83 | -23.46% |
| Shares Outstanding (Mil) | 36.84 | 38.45 | -4.37% |
| Cumulative Contribution | 4.04% |
Market Drivers
7/31/2025 to 1/18/2026| Return | Correlation | |
|---|---|---|
| GAIN | 4.2% | |
| Market (SPY) | 9.7% | 30.1% |
| Sector (XLF) | 4.3% | 32.0% |
Fundamental Drivers
The 15.0% change in GAIN stock from 1/31/2025 to 1/18/2026 was primarily driven by a 137.7% change in the company's Total Revenues ($ Mil).| 1312025 | 1182026 | Change | |
|---|---|---|---|
| Stock Price ($) | 12.24 | 14.07 | 14.99% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 35.81 | 85.11 | 137.68% |
| Net Income Margin (%) | 106.45% | 109.08% | 2.48% |
| P/E Multiple | 11.78 | 5.83 | -50.53% |
| Shares Outstanding (Mil) | 36.69 | 38.45 | -4.79% |
| Cumulative Contribution | 14.73% |
Market Drivers
1/31/2025 to 1/18/2026| Return | Correlation | |
|---|---|---|
| GAIN | 15.0% | |
| Market (SPY) | 15.9% | 65.9% |
| Sector (XLF) | 6.9% | 60.8% |
Fundamental Drivers
The 53.6% change in GAIN stock from 1/31/2023 to 1/18/2026 was primarily driven by a 130.9% change in the company's Total Revenues ($ Mil).| 1312023 | 1182026 | Change | |
|---|---|---|---|
| Stock Price ($) | 9.16 | 14.07 | 53.60% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 36.86 | 85.11 | 130.91% |
| Net Income Margin (%) | 114.36% | 109.08% | -4.61% |
| P/E Multiple | 7.22 | 5.83 | -19.29% |
| Shares Outstanding (Mil) | 33.22 | 38.45 | -15.73% |
| Cumulative Contribution | 49.80% |
Market Drivers
1/31/2023 to 1/18/2026| Return | Correlation | |
|---|---|---|
| GAIN | 53.6% | |
| Market (SPY) | 76.5% | 50.9% |
| Sector (XLF) | 55.7% | 49.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GAIN Return | 82% | -18% | 31% | 5% | 17% | 2% | 146% |
| Peers Return | 40% | -10% | 33% | 22% | 1% | 4% | 114% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| GAIN Win Rate | 83% | 33% | 75% | 58% | 67% | 100% | |
| Peers Win Rate | 73% | 37% | 70% | 68% | 53% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| GAIN Max Drawdown | 0% | -26% | -1% | -8% | -10% | -2% | |
| Peers Max Drawdown | -1% | -19% | -2% | -2% | -16% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | 0% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MAIN, CSWC, ARCC, FSK, GBDC.
[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 1/16/2026 (YTD)
How Low Can It Go
| Event | GAIN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -29.0% | -25.4% |
| % Gain to Breakeven | 40.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -53.2% | -33.9% |
| % Gain to Breakeven | 113.8% | 51.3% |
| Time to Breakeven | 389 days | 148 days |
| 2018 Correction | ||
| % Loss | -27.4% | -19.8% |
| % Gain to Breakeven | 37.8% | 24.7% |
| Time to Breakeven | 108 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -85.0% | -56.8% |
| % Gain to Breakeven | 566.7% | 131.3% |
| Time to Breakeven | 4,623 days | 1,480 days |
Compare to MAIN, CSWC, ARCC, FSK, GBDC
In The Past
Gladstone Investment's stock fell -29.0% during the 2022 Inflation Shock from a high on 4/19/2022. A -29.0% loss requires a 40.9% gain to breakeven.
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Gladstone Investment Corporation specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options. The fund does not invest in start-ups. The fund seeks to invest in manufacturing, consumer products and business services/ distribution sector. It seeks to invest in small and mid-sized companies based in the United States. The fund prefers to make debt investments between $5 million and $30 million and equity investments between $10 million and $40 million in companies. The fund seeks to invest in companies with sales between $20 million and $100 million. The fund invests in companies with EBITDA from $3 million to $20 million. It seeks minority equity ownership and prefers to hold a board seat in its portfolio companies. It also prefers to take majority stake in its portfolio companies. The fund typically holds the investments for seven years and exits via sale or recapitalization, initial public offering, or sale to third party.
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1. Imagine a highly focused version of Berkshire Hathaway that primarily lends money to and takes smaller equity stakes in many private, medium-sized U.S. businesses.
2. Think of it as a publicly traded, specialized JPMorgan Chase that focuses on lending to and investing in private, mid-sized U.S. companies, rather than dealing with large corporations or individual consumers.
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- Debt Financing: Providing various types of senior and junior secured loans, as well as mezzanine debt, to privately-held middle-market companies.
- Equity Investments: Making minority equity investments, often alongside debt financing, typically in the form of preferred stock, common stock, or warrants, in their portfolio companies.
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Gladstone Investment Corporation (GAIN)
Gladstone Investment Corporation (GAIN) operates as a Business Development Company (BDC). As such, its primary business involves providing debt and equity financing to privately held, middle-market companies in the United States. Therefore, GAIN's "major customers" are the portfolio companies in which it invests, rather than individuals. Since GAIN primarily invests in private companies, these "customers" do not have public stock symbols. Below are examples of some of the companies GAIN has invested in, which represent its major customers:- Pillar Processing, LLC
- Starco, Inc.
- Bassett Creek Services, LLC
- Frontier Packaging, Inc.
- Bruner-Cox Company, LLC
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- Gladstone Management Corporation
- KPMG LLP
- Computershare Trust Company, N.A.
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David J. Gladstone, Chairman & Chief Executive Officer
Mr. Gladstone is the founder of The Gladstone Companies and has served as Chief Executive Officer of Gladstone Investment Corporation since its inception. Prior to founding Gladstone, he held various positions, including Chairman and Chief Executive Officer, with Allied Capital Corporation, Allied Capital Corporation II, Allied Capital Lending Corporation, and Allied Capital Advisors Inc. from 1974 to February 1997. From August 1997 to August 2001, Mr. Gladstone was Chairman or Vice Chairman of American Capital Strategies, a publicly-traded leveraged buyout fund and mezzanine debt finance company.
Taylor Ritchie, Chief Financial Officer
Mr. Ritchie joined Gladstone in November 2018. Before joining The Gladstone Companies, he worked for Ernst & Young from 2011 to 2018 as a Manager in the Financial Services practice, specializing in Banking and Capital Markets. He is a CPA licensed in Virginia and holds a B.S. in Accounting and Finance from the University of Alabama, where he graduated Summa Cum Laude.
David Dullum, President
Mr. Dullum joined The Gladstone Companies in February 2008 and has served as President of Gladstone Investment Corporation since April 2008. He has extensive experience in equity investing and middle-market buyouts. Prior to joining Gladstone, from 1995 to 2007, Mr. Dullum was a Partner of New England Partners, a private equity firm. From 1976 to 1990, he was a Managing General Partner of Frontenac Company, a Chicago-based private equity firm.
Michael LiCalsi, Chief Administrative Officer, Co-General Counsel, and Co-Secretary
Mr. LiCalsi has been Chief Administrative Officer of Gladstone Investment since July 2025. He has also served as General Counsel (and now Co-General Counsel) since October 2009 and Secretary (and now Co-Secretary) since October 2012. He was appointed President of Gladstone Administration in July 2013. Before joining The Gladstone Companies, Mr. LiCalsi was an associate attorney at Baker Botts L.L.P. He also held various positions at TD Waterhouse Investor Services, Inc. (now TD Ameritrade, Inc.) from 1996 to 2004.
Jay Beckhorn, Assistant Treasurer
Mr. Beckhorn joined Gladstone in January 2013. He currently serves as Managing Director, Finance of Gladstone Commercial and Treasurer of Gladstone Land and Gladstone Commercial, in addition to his role as Assistant Treasurer of Gladstone Capital and Gladstone Investment. His primary focus is debt finance, and he has 28 years of real estate finance experience. Prior to joining Gladstone, he was a Regional Director with Heavenrich & Co., an M&A group serving the senior housing industry, where he helped clients recapitalize companies by arranging joint ventures with private equity groups, sale lease-back transactions with REITs, and loans from banks.
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Key Risks to Gladstone Investment (GAIN)
Gladstone Investment (GAIN), a business development company (BDC), faces several key risks inherent to its investment model and the financial markets it operates within. The most significant risks include elevated credit risk within its investment portfolio, interest rate sensitivity due to its asset-liability structure, and liquidity concerns coupled with a reliance on capital markets.
- Elevated Credit Risk and High Non-Accrual Investments: Gladstone Investment's portfolio exhibits a high level of non-accrual investments, where borrowers are significantly behind on interest payments. As of March 31, 2025, the non-accrual ratio, based on the fair value of all debt investments, was a substantial 8.2%, which is considerably higher than the average for the BDC sector. This elevated credit risk directly ties up capital and impedes income generation, posing an immediate and concerning internal challenge for the company.
- Interest Rate Risk: GAIN's investment portfolio is primarily comprised of floating-rate debt investments, while its own debt structure is largely fixed-rate. This creates a significant interest rate risk, particularly in an environment of anticipated interest rate cuts. A decrease in prevailing interest rates would result in lower interest income collected from its debt investments, thereby negatively impacting the company's overall income and potentially its ability to cover dividends.
- Liquidity Risk and Reliance on Capital Markets: As a BDC, Gladstone Investment's ability to manage its debt and fund new investments is heavily dependent on maintaining adequate liquidity. The company's balance sheet ratios, such as a tight Current Ratio of 0.48 for the fiscal year ended March 31, 2025, indicate a structural reliance on capital markets. While typical for BDCs, this reliance introduces a risk, as access to capital markets can be volatile and impact the company's capacity for growth and financial stability. The lack of liquidity in privately held investments also contributes to this risk.
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Gladstone Investment (GAIN) primarily operates within the U.S. lower middle market, providing debt and equity financing to established private businesses. These companies typically have annual earnings before interest, taxes, depreciation, and amortization (EBITDA) ranging from $3 million to $20 million. The addressable markets for Gladstone Investment's main products and services can be sized as follows, with the market sizes provided for the U.S. region: * **U.S. Private Credit Market:** The private credit market in the United States, where Business Development Companies (BDCs) like Gladstone Investment operate, is substantial and growing. In 2024, the U.S. private credit market was estimated to be around $1.1 trillion. This market has experienced significant growth, approximately doubling in size over the past five years to reach about $1.25 trillion in the U.S. and $2 trillion globally. Projections suggest the global private credit market could reach US$3.5 trillion by 2028. * **U.S. Middle Market Lending/Financing:** Gladstone Investment specifically targets the lower middle market within the broader U.S. middle market. The U.S. middle market, defined by the U.S. Department of Commerce as businesses with pre-taxed earnings between $5 million and $250 million, consists of approximately 200,000 firms. More broadly, the U.S. middle market comprises 300,000 midsize businesses, generating $13 trillion in annual revenue and employing over 40 million people. While the overall middle market is large, Gladstone Investment's focus is on the lower end of this spectrum, typically for companies with $4 million to $15 million in EBITDA. Assets under management by private and non-traded BDCs, which primarily lend to private equity-owned small and middle-market companies, increased from approximately $34 billion in 2020 to about $118 billion, demonstrating a compound annual growth rate exceeding 35%. The total assets of BDCs have expanded to $292 billion as of the first quarter of 2023.AI Analysis | Feedback
Gladstone Investment (GAIN) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Continued Investment in New Portfolio Companies and Buyouts: The company consistently emphasizes its focus on making new debt and equity investments in private businesses, particularly through buyouts and other recapitalizations. This strategy involves both originating new loans that generate interest income and acquiring equity stakes that can appreciate over time. For example, in Q1 2025, the company invested significantly in new portfolio companies, reflecting its strategic focus on growth. In Q4 2025, the company invested a total of $221 million, including investments in four new portfolio companies. The company's objective is to achieve and grow current income through debt securities and provide long-term capital appreciation through equity investments.
- Growth of the Debt Investment Portfolio and Associated Interest Income: A significant portion of Gladstone Investment's revenue comes from interest income generated by its debt investments. Recent earnings reports indicate that an increase in interest income has been primarily driven by the growth of its debt investment portfolio. Analysts also project an increase in total interest income, including from non-control/non-affiliate and affiliate investments, in the coming quarters.
- Realized Capital Gains, Dividend, and Success Fee Income from Portfolio Exits and Recapitalizations: Gladstone Investment generates revenue through capital gains realized from the successful exit of its equity investments and from dividend and success fee income associated with these transactions and recapitalizations. For instance, in Q2 2025, the company generated meaningful realized capital gains from the successful exit of Nth Degree. Similarly, Q4 2025 results showed an increase in dividend and success fee income due to exits and recapitalizations. Management anticipates funding future supplemental distributions from realized capital gains on the equity portion of future exits and potentially from other recapitalizations.
- Robust Pipeline for New Acquisitions and Investment Opportunities: The company has frequently highlighted a strong pipeline of opportunities for new acquisitions and ongoing investments. This active investing period is expected to continue, indicating future expansion of its asset base and, consequently, revenue. The company's solid balance sheet and increased availability on its credit facility, partially bolstered by new note issuances, provide the liquidity and flexibility to pursue these new opportunities.
- Strategic Add-on Acquisitions to Existing Portfolio Companies: Beyond acquiring new standalone companies, Gladstone Investment also focuses on making add-on acquisitions to its existing portfolio companies. This strategy allows them to increase their investment and build value within companies where they already have established relationships and confidence in future prospects, contributing to overall portfolio growth and increased income.
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Share Repurchases
No significant share repurchase programs or dollar amounts of share repurchases made by Gladstone Investment were explicitly reported in the last 3-5 years within the search results.
Share Issuance
- Gladstone Investment established a new $75.0 million at-the-market (ATM) program in May 2024.
- Under its common stock ATM program, the company sold 2,238,361 shares at a weighted-average gross price of $14.10 per share, raising approximately $31.1 million in net proceeds.
- Subsequent to September 30, 2025, an additional 55,414 shares were sold through the ATM program, generating approximately $0.8 million in net proceeds.
Inbound Investments
- In November 2025, Gladstone Investment priced a registered direct offering of $60.0 million aggregate principal amount of 6.875% Notes due 2028.
- The net proceeds from this offering are intended to repay a portion of its revolving credit facility, fund new investment opportunities, and for general corporate purposes.
Outbound Investments
- Gladstone Investment aims for its investment portfolio to consist of approximately 75% in debt securities and 25% in equity securities, at cost, with individual investments typically totaling up to $75 million.
- For fiscal year 2026 (as of Q1 2026), the company invested approximately $130 million in three new portfolio companies.
- In the quarter ended September 30, 2025, portfolio actions included a $67.6 million investment in Global GRAB and a new $20.0 million loan to J.R. Hobbs.
Capital Expenditures
No specific information regarding capital expenditures for Gladstone Investment (GAIN) itself was available within the provided search results.
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Peer Comparisons for Gladstone Investment
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 17.70 |
| Mkt Cap | 3.9 |
| Rev LTM | 385 |
| Op Inc LTM | - |
| FCF LTM | -142 |
| FCF 3Y Avg | 37 |
| CFO LTM | -142 |
| CFO 3Y Avg | 37 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 19.0% |
| Rev Chg 3Y Avg | 33.7% |
| Rev Chg Q | 21.2% |
| QoQ Delta Rev Chg LTM | 4.8% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | -64.2% |
| CFO/Rev 3Y Avg | 3.8% |
| FCF/Rev LTM | -64.2% |
| FCF/Rev 3Y Avg | 3.8% |
Price Behavior
Price Behavior
| Market Price | $14.07 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 06/23/2005 | |
| Distance from 52W High | -0.8% | |
| 50 Days | 200 Days | |
| DMA Price | $13.83 | $13.53 |
| DMA Trend | up | up |
| Distance from DMA | 1.8% | 4.0% |
| 3M | 1YR | |
| Volatility | 11.6% | 21.4% |
| Downside Capture | -5.02 | 54.16 |
| Upside Capture | 11.79 | 62.24 |
| Correlation (SPY) | 13.1% | 64.3% |
GAIN Betas & Captures as of 12/31/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.20 | 0.10 | 0.46 | 0.41 | 0.71 | 0.69 |
| Up Beta | -0.78 | -0.02 | 0.63 | 0.42 | 0.92 | 0.82 |
| Down Beta | 0.56 | 0.40 | 0.58 | 0.32 | 0.61 | 0.64 |
| Up Capture | -39% | 13% | 39% | 37% | 50% | 33% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 12 | 22 | 34 | 61 | 120 | 381 |
| Down Capture | -45% | -5% | 33% | 53% | 65% | 83% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 10 | 17 | 27 | 61 | 124 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| GAIN vs. Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| GAIN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 20.8% | 14.0% | 19.8% | 70.5% | 3.8% | 10.2% | -1.0% |
| Annualized Volatility | 21.3% | 19.0% | 19.3% | 20.0% | 15.3% | 16.7% | 34.5% |
| Sharpe Ratio | 0.79 | 0.56 | 0.81 | 2.56 | 0.04 | 0.41 | 0.07 |
| Correlation With Other Assets | 60.9% | 64.3% | 16.0% | 30.8% | 59.9% | 18.1% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
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Based On 5-Year Data
| GAIN vs. Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| GAIN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 18.7% | 13.9% | 14.1% | 19.4% | 11.1% | 6.1% | 20.0% |
| Annualized Volatility | 22.0% | 18.8% | 17.1% | 15.6% | 18.7% | 18.8% | 48.1% |
| Sharpe Ratio | 0.73 | 0.61 | 0.66 | 1.00 | 0.47 | 0.23 | 0.45 |
| Correlation With Other Assets | 51.4% | 52.6% | 12.2% | 18.2% | 49.0% | 20.7% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
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Based On 10-Year Data
| GAIN vs. Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| GAIN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 17.4% | 13.8% | 15.5% | 14.8% | 7.6% | 5.9% | 70.8% |
| Annualized Volatility | 25.5% | 22.3% | 18.0% | 14.8% | 17.6% | 20.8% | 55.7% |
| Sharpe Ratio | 0.65 | 0.57 | 0.75 | 0.83 | 0.35 | 0.25 | 0.91 |
| Correlation With Other Assets | 53.6% | 52.5% | 4.0% | 22.6% | 51.1% | 12.7% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/04/2025 | 10-Q (09/30/2025) |
| 06/30/2025 | 08/12/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/13/2025 | 10-K (03/31/2025) |
| 12/31/2024 | 02/12/2025 | 10-Q (12/31/2024) |
| 09/30/2024 | 11/07/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/05/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/08/2024 | 10-K (03/31/2024) |
| 12/31/2023 | 02/06/2024 | 10-Q (12/31/2023) |
| 09/30/2023 | 11/01/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/02/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/10/2023 | 10-K (03/31/2023) |
| 12/31/2022 | 02/01/2023 | 10-Q (12/31/2022) |
| 09/30/2022 | 11/01/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 08/03/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 05/11/2022 | 10-K (03/31/2022) |
| 12/31/2021 | 02/08/2022 | 10-Q (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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