Tearsheet

RF Industries (RFIL)


Market Price (12/29/2025): $6.0 | Market Cap: $64.0 Mil
Sector: Industrials | Industry: Electrical Components & Equipment

RF Industries (RFIL)


Market Price (12/29/2025): $6.0
Market Cap: $64.0 Mil
Sector: Industrials
Industry: Electrical Components & Equipment

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


0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23%
Weak multi-year price returns
3Y Excs Rtn is -63%
Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 65x
1 Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, and Artificial Intelligence. Themes include Telecom Infrastructure, Network Equipment, Show more.
  Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.3%
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.7%
3   Key risks
RFIL key risks include [1] its high dependence on capital expenditure by wireless carriers, Show more.
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23%
1 Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, and Artificial Intelligence. Themes include Telecom Infrastructure, Network Equipment, Show more.
2 Weak multi-year price returns
3Y Excs Rtn is -63%
3 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 65x
4 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.3%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.7%
6 Key risks
RFIL key risks include [1] its high dependence on capital expenditure by wireless carriers, Show more.

Valuation, Metrics & Events

RFIL Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

I am unable to provide the key points for a -14.8% stock movement for RF Industries (RFIL) for the approximate time period from August 31, 2025, to December 29, 2025, as the available information for this future period generally indicates positive financial results and market reactions, rather than a significant decline. Show more

Stock Movement Drivers

Fundamental Drivers

The -30.5% change in RFIL stock from 9/28/2025 to 12/28/2025 was primarily driven by a -30.5% change in the company's P/S Multiple.
928202512282025Change
Stock Price ($)8.605.98-30.47%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)76.3576.350.00%
P/S Multiple1.200.84-30.47%
Shares Outstanding (Mil)10.6710.670.00%
Cumulative Contribution-30.47%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025
ReturnCorrelation
RFIL-30.5% 
Market (SPY)4.3%46.3%
Sector (XLI)3.0%41.6%

Fundamental Drivers

The 5.8% change in RFIL stock from 6/29/2025 to 12/28/2025 was primarily driven by a 4.0% change in the company's Total Revenues ($ Mil).
629202512282025Change
Stock Price ($)5.655.985.84%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)73.4076.354.02%
P/S Multiple0.820.841.73%
Shares Outstanding (Mil)10.6710.670.01%
Cumulative Contribution5.84%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025
ReturnCorrelation
RFIL5.8% 
Market (SPY)12.6%23.4%
Sector (XLI)7.5%31.7%

Fundamental Drivers

The 56.1% change in RFIL stock from 12/28/2024 to 12/28/2025 was primarily driven by a 29.5% change in the company's P/S Multiple.
1228202412282025Change
Stock Price ($)3.835.9856.14%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)62.2876.3522.60%
P/S Multiple0.650.8429.46%
Shares Outstanding (Mil)10.5010.67-1.65%
Cumulative Contribution56.09%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025
ReturnCorrelation
RFIL56.1% 
Market (SPY)17.0%20.3%
Sector (XLI)19.2%25.0%

Fundamental Drivers

The 17.3% change in RFIL stock from 12/29/2022 to 12/28/2025 was primarily driven by a 34.9% change in the company's P/S Multiple.
1229202212282025Change
Stock Price ($)5.105.9817.25%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)83.3776.35-8.42%
P/S Multiple0.620.8434.87%
Shares Outstanding (Mil)10.1310.67-5.34%
Cumulative Contribution16.92%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025
ReturnCorrelation
RFIL96.7% 
Market (SPY)48.4%19.6%
Sector (XLI)41.4%21.5%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
RFIL Return-27%63%-36%-41%29%54%-10%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
RFIL Win Rate50%50%33%25%67%50% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
RFIL Max Drawdown-46%-0%-39%-50%-6%-8% 
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 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventRFILS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-73.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven276.3%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-48.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven92.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven363 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-53.2%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven113.7%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-66.9%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven202.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven676 days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

RF Industries's stock fell -73.4% during the 2022 Inflation Shock from a high on 7/29/2021. A -73.4% loss requires a 276.3% gain to breakeven.

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About RF Industries (RFIL)

RF Industries, Ltd., together with its subsidiaries, designs, manufactures, and markets interconnect products and systems in the United States, Canada, Mexico, and internationally. The company operates through two segments, RF Connector and Cable Assembly and Custom Cabling Manufacturing and Assembly. The company's RF Connector and Cable Assembly segment designs, manufactures, and distributes various coaxial connectors and cable assemblies that are integrated with coaxial connectors. The Custom Cabling Manufacturing and Assembly segment designs, manufactures, markets, and distributes custom copper and fiber cable assemblies, complex hybrid fiber optic and power solution cables, energy-efficient cooling systems for wireless base stations and remote equipment shelters, and custom designed pole-ready 5G small cell integrated enclosures. It also manufactures and sells custom and standard cable assemblies, hybrid fiber optic power solution cables, adapters, and electromechanical wiring harnesses for communication, computer, LAN, automotive, and medical equipment. In addition, the company designs and manufactures cable assemblies and wiring harnesses for blue chip industrial, oilfield, instrumentation, and military customers. It also designs and manufactures quality connectivity solutions to telecommunications and data communications distributors. The company sells its products through warehousing distributors and in-house marketing and sales team. It serves telecommunications carriers and equipment manufacturers, wireless and network infrastructure carriers, and original equipment manufacturers. The company was formerly known as Celltronics, Inc. and changed its name to RF Industries, Ltd. in November 1990. RF Industries, Ltd. was incorporated in 1979 and is headquartered in San Diego, California.

AI Analysis | Feedback

Here are 1-2 brief analogies for RF Industries (RFIL):

  • Amphenol for wireless infrastructure and communication networks.
  • The 'plumbing' and 'wiring' specialist for telecom and data center connections, much like a niche version of TE Connectivity.

AI Analysis | Feedback

  • RF Cables & Connectors: Manufactures and distributes coaxial cables, connectors, and cable assemblies primarily for wireless and radio frequency applications.
  • Fiber Optic Cables & Connectors: Provides fiber optic cables, connectors, and assemblies for high-speed data transmission in various networking environments.
  • Wireless Infrastructure Solutions: Offers components such as antennas, surge protectors, and related accessories for cellular, Wi-Fi, and other wireless network deployments.
  • Custom Cable Assemblies: Designs and produces specialized cable assemblies tailored to meet unique customer specifications and performance requirements.

AI Analysis | Feedback

RF Industries (symbol: RFIL) primarily sells its products to other companies (B2B).

The company designs, manufactures, and distributes a wide range of interconnect products and systems, including coaxial cables, fiber optic cables, connectors, and other related components. These products are primarily used in wireless and wireline telecommunications infrastructure.

While RF Industries' financial filings (e.g., 10-K reports) refer to its major customers generically (e.g., "Customer A," "Customer B"), the company's investor materials consistently indicate that its primary customers are major telecommunication carriers and network operators in North America. Based on industry knowledge and the types of products RF Industries provides for telecom infrastructure, its major customers include:

  • Verizon Communications Inc. (NYSE: VZ)
  • AT&T Inc. (NYSE: T)
  • T-Mobile US, Inc. (NASDAQ: TMUS)

These companies are significant purchasers of RF Industries' infrastructure components for their wireless and wireline network build-outs and maintenance.

AI Analysis | Feedback

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Robert Dawson, Chief Executive Officer

Mr. Dawson has served as Chief Executive Officer of RF Industries since July 17, 2017, and was appointed to the Company's Board of Directors effective July 21, 2018. Prior to joining RF Industries, he was President and CEO of Vision Technology Services, an information technology consulting and project management company that was acquired by BG Staffing. He also co-founded NetForce Solutions, a technology training and consulting firm, in 2000 and led it as CEO for seven years before its acquisition by TESSCO Technologies in 2007. Mr. Dawson spent 2007-2013 at TESSCO Technologies, a publicly traded distributor of wireless products and services, holding multiple executive roles culminating as Vice President of Sales, responsible for over $700 million in sales.

Peter Yin, Chief Financial Officer

Mr. Yin was promoted to Chief Financial Officer in January 2021. He joined RF Industries in September 2014 as Controller, where he was responsible for SEC and financial reporting and Sarbanes-Oxley (SOX) internal controls. His responsibilities expanded to include operations, information systems, and technology. He previously worked at Sony Corporation of America in Corporate Audit from 2010 to 2014 and as an auditor at Grant Thornton from 2006 to 2010. Mr. Yin is a Certified Public Accountant (CPA) and Certified Fraud Examiner (CFE).

Ray Bibisi, President & Chief Operating Officer

Mr. Bibisi joined RF Industries as Chief Revenue Officer in January 2020 and transitioned to President and Chief Operating Officer, a role to which he was promoted in March 2024. Before joining RF Industries, he spent over 30 years at Radio Frequency Systems (RFS), where he held concurrent roles as VP of Sales and General Manager of North America, and was a member of the Global Governing Executive Committee.

AI Analysis | Feedback

The key risks to RF Industries' (RFIL) business are primarily concentrated in its reliance on the telecommunications sector, vulnerabilities in its supply chain, and its financial health and ability to meet loan obligations.

  1. High Dependence on the Telecommunications Industry and Capital Expenditure by Wireless Carriers: RF Industries' market demand is heavily influenced by the state of the telecommunications industry, particularly the pace of 4G and 5G network development and capital expenditure spending by Tier 1 wireless carriers. A sharp decline in carrier capital expenditure can significantly pressure the company's financial results.
  2. Supply Chain Disruptions and Sourcing Challenges, especially from Asia, including Tariffs: The company faces risks related to its ability to source raw materials and products from its global suppliers and manufacturers, particularly those located in Asia. Global economic conditions and the imposition of tariffs can adversely affect the supply chain, product costs, and ultimately the company's results of operations.
  3. Financial Health, Liquidity, and Compliance with Loan Covenants: RF Industries' ability to continue as a going concern and maintain compliance with the terms and financial covenants of its existing credit facilities is a critical risk factor. The company's liquidity needs and capacity to meet its financial obligations are ongoing concerns that can impact its operational flexibility and long-term viability.

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The addressable markets for RF Industries' (RFIL) main products are as follows:

  • RF Connectors: The global RF connector market was valued at approximately USD 30.15 billion in 2024. This market is projected to expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031. North America accounted for over 40% of the global revenue, with a market size of approximately USD 12.06 billion in 2024.
  • RF Coaxial Cable Assemblies: The global RF Coaxial Cable Assemblies market size was valued at approximately USD 5.41 billion in 2024. It is expected to grow at a CAGR of 6.4% from 2025 to 2032, reaching nearly USD 8.89 billion by 2032. The Asia Pacific region is noted as a leading market in this segment.
  • Fiber Optic Cables: The global Fiber Optic Cable Market size is estimated at approximately USD 13.92 billion in 2025. This market is expected to reach USD 20.94 billion by 2030, with a CAGR of 10.46% during the forecast period (2025-2030). The Asia Pacific region holds a significant share of the fiber optic cable market.

AI Analysis | Feedback

RF Industries (symbol: RFIL) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

  1. Strategic Diversification and Expansion into New Markets: The company is actively expanding its reach into emerging and higher-growth markets beyond traditional wireless. These include aerospace, public safety, industrial applications, transportation, venues, and particularly AI-driven data center cooling and edge data centers. This diversification is a consistent theme in recent earnings discussions.
  2. Growth in Wireless Infrastructure and Small Cell Solutions: RF Industries continues to see growth driven by the wireless sector, with a specific focus on small cell deployments and Distributed Antenna Systems (DAS) constructions. Their small cell solutions are highlighted as key customer applications within the Tier 1 wireless carrier ecosystem.
  3. Launch and Expansion of Innovative Product Lines, including Direct Air Cooling (DAC) Systems: RF Industries has launched new products, particularly in the cooling and antenna systems markets, and is emphasizing its Direct Air Cooling (DAC) thermal cooling systems. The company is transitioning from being primarily a component supplier to an integrated technology solutions provider, leveraging an expanded portfolio of innovative solutions.
  4. Conversion of Strong Backlog and New Customer Acquisitions: The company has reported a meaningful and growing backlog in recent quarters, indicating future business momentum. Management has also noted repeat and new customer wins across their various product categories, suggesting a broadening customer base.
  5. Shift Towards a Higher-Margin Product Mix: Management attributes improved gross profit margins to a strategic shift towards a higher-margin product mix, notably including DAC systems and small cells. This focus on higher-value solutions not only boosts profitability but can also contribute to overall revenue growth as these offerings gain traction in the market.

AI Analysis | Feedback

Share Repurchases

No significant share repurchase programs or executed share repurchases by RF Industries were identified within the last 3-5 years (2020-2025). The company reported no repurchases of its equity securities during the fourth quarter of fiscal 2023.

Share Issuance

No major primary share issuance events by RF Industries, involving significant dollar amounts, were identified within the last 3-5 years. The number of outstanding shares was approximately 10.54 million as of January 10, 2025, and around 10.7 million as of September 11, 2025.

Inbound Investments

No large, direct inbound investments from third-party strategic partners or private equity firms into RF Industries were identified within the last 3-5 years.

Outbound Investments

  • RF Industries acquired Microlab/FXR LLC in March 2022, partially financing the acquisition with a $12 million term loan.
  • The company undertook organizational changes and promotions in May 2022 to support the integration of the Microlab/FXR LLC acquisition.

Capital Expenditures

  • Capital expenditures contributed to a decrease in cash for RF Industries during the fiscal year ending October 31, 2024.
  • In 2023, the company made significant investments in its integrated systems product line to offer high-quality interconnect products and next-generation integrated systems, particularly for the telecom market.
  • As of its October 31, 2024, 10-K filing, RF Industries did not anticipate significant additional capital equipment purchases or capital expenditures for the upcoming 12 months.

Better Bets than RF Industries (RFIL)

Latest Trefis Analyses

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Trade Ideas

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

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CNM_11212025_Dip_Buyer_FCFYield11212025CNMCore & MainDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
18.3%18.3%-1.6%
VRRM_11212025_Dip_Buyer_FCFYield11212025VRRMVerra MobilityDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
5.5%5.5%-1.2%
LII_11212025_Dip_Buyer_ValueBuy11212025LIILennox InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
7.1%7.1%0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025ADPAutomatic Data ProcessingMonopolyMY | 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
2.9%2.9%-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%11212025CWCurtiss-WrightQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
5.7%5.7%-0.4%

Recent Active Movers

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Peer Comparisons for RF Industries

Peers to compare with:

Financials

RFILHPQHPEIBMCSCOAAPLMedian
NameRF Indus.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price5.9823.2624.49305.0978.16273.4051.32
Mkt Cap0.121.932.6284.9309.24,074.4158.8
Rev LTM7655,29534,29665,40257,696408,62556,496
Op Inc LTM13,6241,64411,54412,991130,2147,584
FCF LTM22,80062711,85412,73396,1847,327
FCF 3Y Avg22,9781,40011,75313,879100,5037,366
CFO LTM23,6972,91913,48313,744108,5658,590
CFO 3Y Avg43,6723,89613,49814,736111,5598,697

Growth & Margins

RFILHPQHPEIBMCSCOAAPLMedian
NameRF Indus.HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM22.6%3.2%13.8%4.5%8.9%6.0%7.4%
Rev Chg 3Y Avg-1.3%-3.9%6.5%2.6%3.7%1.8%2.2%
Rev Chg Q17.5%4.2%14.4%9.1%7.5%9.6%9.4%
QoQ Delta Rev Chg LTM4.0%1.1%3.7%2.1%1.8%2.1%2.1%
Op Mgn LTM1.3%6.6%4.8%17.7%22.5%31.9%12.1%
Op Mgn 3Y Avg-2.6%7.4%7.2%16.4%24.2%30.8%11.9%
QoQ Delta Op Mgn LTM1.5%-0.2%-1.4%0.6%0.4%0.1%0.2%
CFO/Rev LTM2.9%6.7%8.5%20.6%23.8%26.6%14.6%
CFO/Rev 3Y Avg5.7%6.8%12.7%21.4%26.1%28.4%17.1%
FCF/Rev LTM2.5%5.1%1.8%18.1%22.1%23.5%11.6%
FCF/Rev 3Y Avg3.3%5.5%4.6%18.6%24.6%25.6%12.1%

Valuation

RFILHPQHPEIBMCSCOAAPLMedian
NameRF Indus.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap0.121.932.6284.9309.24,074.4158.8
P/S0.80.41.04.45.410.02.7
P/EBIT65.26.819.925.122.531.323.8
P/E-189.98.6572.736.029.941.033.0
P/CFO28.55.911.221.122.537.521.8
Total Yield-0.5%14.1%2.3%5.0%5.4%2.8%3.9%
Dividend Yield0.0%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg4.4%10.6%5.5%6.4%6.0%3.1%5.7%
D/E0.40.50.70.20.10.00.3
Net D/E0.40.30.60.20.00.00.3

Returns

RFILHPQHPEIBMCSCOAAPLMedian
NameRF Indus.HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-3.9%-3.6%12.7%-1.1%1.6%-2.0%-1.5%
3M Rtn-30.5%-11.9%2.7%7.9%17.0%7.1%4.9%
6M Rtn5.8%-4.0%34.5%6.6%15.2%36.3%10.9%
12M Rtn56.1%-27.0%16.2%40.5%34.5%7.5%25.3%
3Y Rtn17.3%-3.7%67.3%141.3%79.6%114.1%73.5%
1M Excs Rtn-5.3%-5.6%12.9%-2.2%-0.0%-3.7%-3.0%
3M Excs Rtn-34.8%-16.2%-1.7%3.6%12.7%2.8%0.6%
6M Excs Rtn-6.4%-16.3%22.3%-5.7%3.0%24.0%-1.3%
12M Excs Rtn49.7%-42.9%-0.7%25.0%19.9%-8.4%9.6%
3Y Excs Rtn-62.9%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

Financials

Segment Financials

Revenue by Segment
$ Mil2024202320222021
RF Connector and Cable Assembly46441615
Custom Cabling Manufacturing and Assembly26424228
Corporate00  
Total72855743


Assets by Segment
$ Mil2024202320222021
RF Connector and Cable Assembly555578
Custom Cabling Manufacturing and Assembly17222615
Corporate10121618
Total82905041


Price Behavior

Price Behavior
Market Price$5.98 
Market Cap ($ Bil)0.1 
First Trading Date05/28/1997 
Distance from 52W High-35.8% 
   50 Days200 Days
DMA Price$6.70$6.09
DMA Trendupdown
Distance from DMA-10.8%-1.8%
 3M1YR
Volatility47.9%71.2%
Downside Capture269.22114.54
Upside Capture41.13141.24
Correlation (SPY)45.9%20.3%
RFIL Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta1.041.762.501.790.720.58
Up Beta2.402.262.410.430.190.17
Down Beta-0.561.360.642.170.840.79
Up Capture-83%50%293%289%150%40%
Bmk +ve Days13263974142427
Stock +ve Days7182858115342
Down Capture191%247%329%174%102%92%
Bmk -ve Days7162452107323
Stock -ve Days13243564127366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of RFIL With Other Asset Classes (Last 1Y)
 RFILSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return63.4%19.3%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility70.7%18.8%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio0.980.800.722.700.340.09-0.08
Correlation With Other Assets 25.1%20.4%7.9%1.6%19.2%17.5%

ETFs used for asset classes: Sector ETF = XLI, 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 RFIL With Other Asset Classes (Last 5Y)
 RFILSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return1.0%13.8%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility49.0%17.2%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio0.200.650.700.970.500.160.57
Correlation With Other Assets 20.4%20.3%5.8%3.3%17.3%9.2%

ETFs used for asset classes: Sector ETF = XLI, 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 RFIL With Other Asset Classes (Last 10Y)
 RFILSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return4.4%13.5%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility54.7%19.9%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.300.600.710.860.320.220.90
Correlation With Other Assets 19.6%20.4%5.7%8.4%16.5%2.6%

ETFs used for asset classes: Sector ETF = XLI, 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 Quantity48,332
Short Interest: % Change Since 11302025-8.8%
Average Daily Volume55,080
Days-to-Cover Short Interest1
Basic Shares Quantity10,668,375
Short % of Basic Shares0.5%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/11/2025-13.1%-11.4%-3.6%
6/16/20250.0%27.5%57.3%
1/16/2025-9.0%-3.7%13.2%
9/16/2024-11.6%-14.0%-6.3%
6/13/20244.7%5.9%38.1%
1/23/20241.7%3.7%10.0%
9/14/2023-21.9%-28.1%-23.0%
5/23/20237.4%9.4%4.4%
...
SUMMARY STATS   
# Positive8811
# Negative131310
Median Positive3.6%7.6%10.0%
Median Negative-7.3%-11.4%-7.1%
Max Positive7.4%27.5%57.3%
Max Negative-21.9%-28.1%-23.0%

SEC Filings

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Report DateFiling DateFiling
07/31/202509/11/202510-Q (07/31/2025)
04/30/202506/16/202510-Q (04/30/2025)
01/31/202503/17/202510-Q (01/31/2025)
10/31/202401/21/202510-K (10/31/2024)
07/31/202409/16/202410-Q (07/31/2024)
04/30/202406/13/202410-Q (04/30/2024)
01/31/202403/18/202410-Q (01/31/2024)
10/31/202301/29/202410-K (10/31/2023)
07/31/202309/14/202310-Q (07/31/2023)
04/30/202306/14/202310-Q (04/30/2023)
01/31/202303/13/202310-Q (01/31/2023)
10/31/202201/24/202310-K (10/31/2022)
07/31/202209/14/202210-Q (07/31/2022)
04/30/202206/14/202210-Q (04/30/2022)
01/31/202203/17/202210-Q (01/31/2022)
10/31/202101/14/202210-K (10/31/2021)