Reinsurance of America (RGA)
Market Price (12/24/2025): $206.49 | Market Cap: $13.6 BilSector: Financials | Industry: Reinsurance
Reinsurance of America (RGA)
Market Price (12/24/2025): $206.49Market Cap: $13.6 BilSector: FinancialsIndustry: Reinsurance
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 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 36% | Weak multi-year price returns2Y Excs Rtn is -14%, 3Y Excs Rtn is -20% | Key risksRGA key risks include [1] market volatility's impact on the profitability of its variable annuities with guaranteed living benefits and [2] a notable reliance on investment income. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -87% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%, CFO LTM is 4.8 Bil, FCF LTM is 4.8 Bil | ||
| Low stock price volatilityVol 12M is 29% | ||
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Longevity Risk Solutions, Mortality & Morbidity Risk Management, and Health Claims Reinsurance. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 36% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -87% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%, CFO LTM is 4.8 Bil, FCF LTM is 4.8 Bil |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Longevity Risk Solutions, Mortality & Morbidity Risk Management, and Health Claims Reinsurance. |
| Weak multi-year price returns2Y Excs Rtn is -14%, 3Y Excs Rtn is -20% |
| Key risksRGA key risks include [1] market volatility's impact on the profitability of its variable annuities with guaranteed living benefits and [2] a notable reliance on investment income. |
Why The Stock Moved
Qualitative Assessment
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**1. **Record Q3 2025 Operating Results and Revenue Growth**Reinsurance Group of America reported record third-quarter 2025 operating results, with adjusted operating earnings per share (excluding notable items) of $6.37, significantly surpassing analyst estimates of $5.85. Revenue also demonstrated strong growth, increasing 8.7% year-over-year to $6.20 billion, exceeding market projections. This robust financial performance, driven by strong contributions from Asia Traditional, EMEA, and U.S. Financial Solutions divisions, indicates solid operational momentum. **2. **Strategic Capital Deployment and Equitable Transaction**
The company successfully executed significant capital deployment strategies, investing $1.7 billion into in-force transactions during the third quarter of 2025. A substantial portion of this, $1.5 billion, was allocated to the recently closed transaction with Equitable Holdings, Inc., which is expected to contribute positively to RGA's earnings. This strategic move enhances RGA's long-term earnings base and capital efficiency. **3. **Robust Capital Position and Shareholder Returns**
RGA maintained a strong financial position, reporting an estimated $2.3 billion in excess capital and $3.4 billion in deployable capital at the end of the third quarter of 2025. This strong capital base provides flexibility for future growth initiatives and shareholder returns. Additionally, the company repurchased $75 million of common shares during the quarter, demonstrating a commitment to returning capital to shareholders. **4. **Strong Performance Across Key Global Segments**
The diversified nature of RGA's global platform contributed significantly to its recent success, with particularly strong performance noted in its Asia Traditional, EMEA, and U.S. Financial Solutions business segments. This widespread strength across various regions and business lines underscores the company's ability to generate consistent results from its diverse operations. **5. **Favorable Investment Income Amidst Positive Reinsurance Market Trends**
RGA benefited from favorable investment income, primarily driven by higher average invested assets. Concurrently, the broader global reinsurance market is experiencing a period of strong growth, with increased capital and rising demand for risk transfer mechanisms. This favorable industry backdrop, combined with RGA's effective investment strategies, provides a supportive environment for the company's financial performance. Show more
Stock Movement Drivers
Fundamental Drivers
The 10.4% change in RGA stock from 9/23/2025 to 12/23/2025 was primarily driven by a 9.5% change in the company's Net Income Margin (%).| 9232025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 186.99 | 206.45 | 10.41% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 21646.00 | 22266.00 | 2.86% |
| Net Income Margin (%) | 3.56% | 3.89% | 9.46% |
| P/E Multiple | 16.03 | 15.72 | -1.95% |
| Shares Outstanding (Mil) | 66.00 | 66.00 | 0.00% |
| Cumulative Contribution | 10.41% |
Market Drivers
9/23/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| RGA | 10.4% | |
| Market (SPY) | 3.7% | 10.4% |
| Sector (XLF) | 3.1% | 38.2% |
Fundamental Drivers
The 5.6% change in RGA stock from 6/24/2025 to 12/23/2025 was primarily driven by a 6.2% change in the company's Total Revenues ($ Mil).| 6242025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 195.58 | 206.45 | 5.56% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 20964.00 | 22266.00 | 6.21% |
| Net Income Margin (%) | 3.78% | 3.89% | 2.94% |
| P/E Multiple | 16.28 | 15.72 | -3.45% |
| Shares Outstanding (Mil) | 66.00 | 66.00 | 0.00% |
| Cumulative Contribution | 5.56% |
Market Drivers
6/24/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| RGA | 5.6% | |
| Market (SPY) | 13.7% | 24.4% |
| Sector (XLF) | 7.8% | 48.5% |
Fundamental Drivers
The 0.6% change in RGA stock from 12/23/2024 to 12/23/2025 was primarily driven by a 16.6% change in the company's Net Income Margin (%).| 12232024 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 205.24 | 206.45 | 0.59% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 21774.00 | 22266.00 | 2.26% |
| Net Income Margin (%) | 3.34% | 3.89% | 16.62% |
| P/E Multiple | 18.63 | 15.72 | -15.66% |
| Shares Outstanding (Mil) | 66.00 | 66.00 | 0.00% |
| Cumulative Contribution | 0.59% |
Market Drivers
12/23/2024 to 12/23/2025| Return | Correlation | |
|---|---|---|
| RGA | 0.6% | |
| Market (SPY) | 16.7% | 57.3% |
| Sector (XLF) | 15.7% | 69.3% |
Fundamental Drivers
The 53.4% change in RGA stock from 12/24/2022 to 12/23/2025 was primarily driven by a 62.9% change in the company's P/E Multiple.| 12242022 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 134.62 | 206.45 | 53.36% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 15875.00 | 22266.00 | 40.26% |
| Net Income Margin (%) | 5.89% | 3.89% | -33.89% |
| P/E Multiple | 9.65 | 15.72 | 62.92% |
| Shares Outstanding (Mil) | 67.00 | 66.00 | 1.49% |
| Cumulative Contribution | 53.33% |
Market Drivers
12/24/2023 to 12/23/2025| Return | Correlation | |
|---|---|---|
| RGA | 33.1% | |
| Market (SPY) | 48.4% | 51.9% |
| Sector (XLF) | 52.3% | 68.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RGA Return | -27% | -3% | 33% | 16% | 34% | -1% | 45% |
| Peers Return | -10% | 39% | 13% | 5% | 25% | 16% | 115% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| RGA Win Rate | 58% | 50% | 42% | 50% | 50% | 42% | |
| Peers Win Rate | 58% | 63% | 58% | 60% | 65% | 62% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| RGA Max Drawdown | -65% | -16% | -9% | -14% | 0% | -21% | |
| Peers Max Drawdown | -54% | -2% | -10% | -21% | -1% | -9% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: TRV, MET, AIG, PRU, HIG. See RGA 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 12/23/2025 (YTD)
How Low Can It Go
| Event | RGA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -29.7% | -25.4% |
| % Gain to Breakeven | 42.2% | 34.1% |
| Time to Breakeven | 307 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -65.2% | -33.9% |
| % Gain to Breakeven | 187.4% | 51.3% |
| Time to Breakeven | 1,358 days | 148 days |
| 2018 Correction | ||
| % Loss | -21.9% | -19.8% |
| % Gain to Breakeven | 28.1% | 24.7% |
| Time to Breakeven | 373 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -66.5% | -56.8% |
| % Gain to Breakeven | 198.4% | 131.3% |
| Time to Breakeven | 1,533 days | 1,480 days |
Compare to TRV, MET, AIG, PRU, HIG
In The Past
Reinsurance of America's stock fell -29.7% during the 2022 Inflation Shock from a high on 5/6/2021. A -29.7% loss requires a 42.2% gain to breakeven.
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Analogy 1: Fannie Mae or Freddie Mac for life and health insurance policies.
Analogy 2: The Intel Inside for life insurance companies.
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Here are the major services provided by Reinsurance Group of America (RGA):- Life Reinsurance: RGA provides risk transfer and capital solutions for individual and group life insurance policies.
- Health Reinsurance: RGA covers risks associated with health insurance products, including disability, critical illness, and long-term care.
- Financial Solutions: RGA offers tailored capital and risk management solutions to help clients optimize their balance sheets and achieve strategic goals.
- Longevity Reinsurance: RGA manages the financial risk for pension plans and annuity providers associated with individuals living longer than expected.
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Reinsurance Group of America (RGA) sells primarily to other companies, specifically insurance companies, rather than directly to individuals.
Due to the confidential and proprietary nature of client relationships in the reinsurance industry, Reinsurance Group of America (RGA) does not publicly disclose the names of its specific customer companies. Reinsurers operate by providing coverage to primary insurance companies, and these business relationships are typically considered highly sensitive.
However, RGA's major customers are generally other companies within the financial services and insurance sectors. These include:
- Life insurance companies
- Health insurance companies
- Annuity providers
- Financial institutions that underwrite or offer life and health insurance products
These customers represent a broad spectrum of the insurance industry, ranging from large, multinational insurance carriers to smaller, regional insurers across the various global markets where RGA operates.
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- Amazon (AMZN)
- Microsoft (MSFT)
- BNY Mellon (BK)
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Tony Cheng, President and Chief Executive Officer
Tony Cheng assumed the role of President and Chief Executive Officer of Reinsurance Group of America (RGA) on January 1, 2024. He joined RGA in 1997 as Chief Actuary of its joint venture with the Life Insurance Association of Malaysia, Malaysian Life Reinsurance Group Berhad. Throughout his tenure at RGA, he has held various leadership positions, including CEO of the Hong Kong office in 2004, Senior Vice President, Asia in 2011, and Executive Vice President, Head of Asia, Australia, and EMEA. He previously served as President of RGA starting in January 2023.
Axel André, Executive Vice President, Chief Financial Officer
Axel André was appointed Executive Vice President and Chief Financial Officer of RGA, effective August 5, 2024. Prior to joining RGA, Mr. André served as Executive Vice President and Chief Financial Officer at American Equity Investment Life Holding Company since 2021. He also held the position of Executive Vice President and Chief Financial Officer at Jackson Financial Inc. Earlier in his career, he spent seven years at AIG, most recently as the Chief Financial Officer for its Individual Retirement business, and began his finance and risk management career focusing on investment strategies for insurance clients globally at Goldman, Sachs & Co.
Jonathan Porter, Executive Vice President, Global Chief Risk Officer
Jonathan Porter serves as Executive Vice President and Global Chief Risk Officer for Reinsurance Group of America, Incorporated (RGA), overseeing global enterprise risk management, enterprise research and development, and content, reputation, and brand management. Before joining RGA in 2008, he worked for Manulife Financial for nearly 15 years, where his last position was Chief Financial Officer, US Life Insurance.
Leslie Barbi, Executive Vice President, Chief Investment Officer
Leslie Barbi is the Executive Vice President and Chief Investment Officer at Reinsurance Group of America, Incorporated. She is an accomplished investment management executive.
Mark Brooks, Executive Vice President, Chief Information Officer
Mark Brooks has been the Executive Vice President and Chief Information Officer of RGA since 2023. Prior to RGA, he served as Chief Technology and Transformation Officer and Executive Vice President at Centene. His previous experience also includes various roles at Health Net, Inc., such as Director of Web Development, Chief Technology Officer, Vice President of Applications Development, and Chief Information Officer.
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Reinsurance Group of America (RGA) faces several key risks inherent to the life and health reinsurance industry. The most significant of these include market risks, actuarial and underwriting risks, and regulatory changes.The most significant risk for RGA is its exposure to market risks, particularly fluctuations in interest rates and equity markets. Changes in interest rates can significantly impact the income derived from the difference between interest rates earned on investments and those paid under reinsurance contracts. Additionally, market volatility can affect the profitability of variable annuities with guaranteed living benefits and the overall value and liquidity of RGA's investment portfolio. The company's reliance on investment income, while a strength, also exposes it to these fluctuations.
Another critical risk is associated with actuarial and underwriting uncertainties, encompassing mortality and morbidity trends, as well as the impact of assumption reviews. RGA's business relies on accurately predicting long-term trends in death and sickness rates, and losses can arise from unfavorable claims experience or significant financial impacts due to assumption revisions. Catastrophic events, such as natural disasters and pandemics, can also adversely affect mortality and morbidity rates and disrupt operations.
Finally, RGA is subject to substantial regulatory changes. As a global provider of reinsurance, its subsidiaries are highly regulated across various jurisdictions. Changes in these regulations can negatively affect the company's business by increasing compliance costs, limiting business flexibility, and potentially impacting its financial condition.
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The rise and growing sophistication of alternative capital and insurance-linked securities (ILS) directly targeting life and health risks. This market allows primary insurers to transfer risks, such as mortality and longevity, directly to capital markets investors, thereby bypassing traditional reinsurers like RGA and presenting a competitive alternative for risk transfer.
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Reinsurance Group of America (RGA) focuses primarily on life and health-related reinsurance solutions globally. Its main products and services include life reinsurance (individual and group), living benefits reinsurance, health reinsurance, and financial solutions (such as asset-intensive reinsurance, longevity reinsurance, and capital solutions).
The addressable markets for RGA's main products and services are sized as follows:
- Global Life and Health Reinsurance Market: This market was valued at approximately USD 462.64 billion in 2024. Other estimates for the global life and health reinsurance market vary, with one source valuing it at USD 160.4 billion in 2023, projected to reach USD 218.5 billion by 2029, and another at USD 170.52 billion in 2024, expected to grow to USD 223.06 billion by 2029.
- Global Life Reinsurance Market: This specific segment was valued at USD 335.4 billion in 2024 and is projected to grow to USD 456.8 billion by 2030. Another assessment valued the global life reinsurance market at USD 234.5 billion in 2024, with a projection to reach USD 735.6 billion by 2033.
- U.S. Life Reinsurance Market (Recurring New Business for Individual Life): The new business volume for recurring individual life reinsurance in the U.S. was USD 661.9 billion in 2023.
- U.S. Group Life Reinsurance Market (In-force Group Portfolio Premium): The in-force group portfolio premium in the U.S. totaled USD 9.0 billion in 2023. The U.S. group level term insurance market size was estimated at USD 7.32 billion in 2024 and is projected to grow to USD 10.57 billion by 2030.
- Global Longevity Reinsurance Market: While specific market size figures for the overall global longevity reinsurance market are not consistently available, the value of longevity reinsurance transfers/swaps reached USD 50 billion in 2015. This segment is recognized as the fastest-growing application segment within life reinsurance.
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Expected Drivers of Future Revenue Growth for Reinsurance Group of America (RGA) over the Next 2-3 Years:
- Growth in Traditional Reinsurance Markets: RGA anticipates continued strong premium growth within its traditional reinsurance business across various regions, including the U.S., Asia, and EMEA. The company's strategic approach emphasizes broadening and deepening client relationships globally to be a preferred reinsurance partner.
- Expansion of Financial Solutions Business and Pension Risk Transfer (PRT) Transactions: The Financial Solutions segment, particularly through significant transactions like the Equitable deal, is expected to be a substantial contributor to future income. This transaction is projected to contribute approximately $160 million to $170 million in pre-tax income in 2026 and around $200 million per year by 2027. Strong Pension Risk Transfer (PRT) sales in the UK are also noted as a driver.
- New Product Development and Market Expansion: RGA is focused on creating and launching new products and reinsurance structures to open or expand markets. Examples include a new proprietary life product developed in partnership within the U.S. Traditional business and new product launches in Hong Kong, targeting diverse market segments.
- Strategic In-Force Management Actions: The company actively pursues in-force management actions, with a specific annual target. These actions contribute to optimizing the existing portfolio and generating strong long-term earnings power.
- Deployment of Capital into Attractive Growth Opportunities: RGA maintains a strong capital position and intends to remain active in deploying capital into attractive growth opportunities, alongside returning excess capital to shareholders. The company recently deployed significant capital into over 20 transactions in addition to the Equitable deal, indicating a robust transaction pipeline.
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Share Repurchases
- From 2020 to 2024, RGA returned $1.6 billion to shareholders, encompassing both shareholder dividends and share repurchases.
- In 2023, RGA repurchased 1,372,131 shares for $200 million.
- On January 23, 2024, RGA's board of directors authorized a new share repurchase program for up to $500 million, without an expiration date.
Share Issuance
- In June 2020, RGA commenced an underwritten public offering of approximately $500 million of common stock, with an option for underwriters to purchase up to an additional $75 million.
- The number of issued common stock shares remained constant at 85,310,598 from December 31, 2021, to December 31, 2024, indicating that any share-based compensation during this period was satisfied through treasury shares rather than new issuances.
Inbound Investments
- In November 2024, RGA announced a second round of funding for Ruby Reinsurance Company (Ruby Re), a Missouri-domiciled third-party life reinsurance company, raising a total of $480 million in capital, which provides RGA with access to alternative capital.
Outbound Investments
- From 2020 to 2024, RGA deployed $3.7 billion into in-force and other transactions, with a notable portion directed outside the U.S.
- In 2024, RGA achieved a record capital deployment of $1.7 billion into in-force block transactions, marking an 80% increase over the previous record set in 2023.
- In 2023, RGA deployed $2.4 billion of capital year-to-date, including $1.5 billion for Equitable and $900 million for over 20 other transactions.
Capital Expenditures
- Capital expenditures for each reporting segment were deemed immaterial in RGA's 2024 Annual Report.
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| 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 | 7.1% | 7.1% | -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 | -11.5% | -11.5% | -12.1% |
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Peer Comparisons for Reinsurance of America
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 126.63 |
| Mkt Cap | 44.2 |
| Rev LTM | 38,050 |
| Op Inc LTM | - |
| FCF LTM | 5,570 |
| FCF 3Y Avg | 5,706 |
| CFO LTM | 5,631 |
| CFO 3Y Avg | 5,710 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.6% |
| Rev Chg 3Y Avg | 9.2% |
| Rev Chg Q | -0.2% |
| QoQ Delta Rev Chg LTM | -0.0% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 20.6% |
| CFO/Rev 3Y Avg | 19.6% |
| FCF/Rev LTM | 20.6% |
| FCF/Rev 3Y Avg | 19.5% |
Price Behavior
| Market Price | $206.45 | |
| Market Cap ($ Bil) | 13.6 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -9.0% | |
| 50 Days | 200 Days | |
| DMA Price | $191.61 | $191.61 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | 7.7% | 7.7% |
| 3M | 1YR | |
| Volatility | 21.7% | 29.5% |
| Downside Capture | -6.08 | 82.66 |
| Upside Capture | 42.04 | 70.58 |
| Correlation (SPY) | 10.4% | 57.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.19 | 0.13 | 0.22 | 0.61 | 0.88 | 0.79 |
| Up Beta | -0.35 | 0.01 | 0.20 | 0.49 | 0.83 | 0.81 |
| Down Beta | -0.39 | 0.43 | 0.15 | 0.69 | 1.10 | 1.05 |
| Up Capture | -4% | 1% | 14% | 36% | 51% | 32% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 11 | 22 | 32 | 64 | 132 | 399 |
| Down Capture | -18% | 7% | 36% | 88% | 95% | 86% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 9 | 20 | 31 | 62 | 116 | 349 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of RGA With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| RGA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 4.5% | 18.1% | 18.8% | 72.9% | 9.0% | 3.7% | -11.4% |
| Annualized Volatility | 29.4% | 19.0% | 19.5% | 19.2% | 15.3% | 17.2% | 35.0% |
| Sharpe Ratio | 0.15 | 0.74 | 0.76 | 2.72 | 0.36 | 0.05 | -0.14 |
| Correlation With Other Assets | 69.3% | 57.3% | 1.5% | 21.1% | 49.8% | 18.5% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of RGA With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| RGA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 13.7% | 16.2% | 14.8% | 18.9% | 11.8% | 4.7% | 35.5% |
| Annualized Volatility | 28.4% | 18.9% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.48 | 0.71 | 0.70 | 0.98 | 0.51 | 0.16 | 0.62 |
| Correlation With Other Assets | 64.6% | 47.7% | -2.3% | 15.6% | 34.4% | 20.4% | |
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 RGA With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| RGA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 11.1% | 13.1% | 14.8% | 15.1% | 6.8% | 5.4% | 69.1% |
| Annualized Volatility | 32.8% | 22.3% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.40 | 0.55 | 0.71 | 0.85 | 0.31 | 0.23 | 0.90 |
| Correlation With Other Assets | 72.6% | 58.8% | -4.8% | 24.2% | 51.1% | 13.6% | |
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
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/30/2025 | -3.5% | 1.6% | 2.4% |
| 7/31/2025 | -7.9% | -5.5% | 1.7% |
| 5/1/2025 | 5.8% | 8.1% | 9.4% |
| 2/6/2025 | -9.6% | -11.3% | -18.9% |
| 10/31/2024 | 1.9% | 4.5% | 8.2% |
| 8/1/2024 | -7.5% | -9.8% | -0.6% |
| 5/2/2024 | 5.5% | 7.2% | 8.7% |
| 2/1/2024 | -2.8% | -2.5% | 3.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 15 |
| # Negative | 12 | 9 | 8 |
| Median Positive | 2.8% | 4.4% | 8.2% |
| Median Negative | -5.7% | -5.5% | -7.4% |
| Max Positive | 11.9% | 13.3% | 16.4% |
| Max Negative | -12.7% | -11.3% | -18.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10312025 | 10-Q 9/30/2025 |
| 6302025 | 8012025 | 10-Q 6/30/2025 |
| 3312025 | 5022025 | 10-Q 3/31/2025 |
| 12312024 | 2212025 | 10-K 12/31/2024 |
| 9302024 | 11012024 | 10-Q 9/30/2024 |
| 6302024 | 8022024 | 10-Q 6/30/2024 |
| 3312024 | 5032024 | 10-Q 3/31/2024 |
| 12312023 | 2262024 | 10-K 12/31/2023 |
| 9302023 | 11032023 | 10-Q 9/30/2023 |
| 6302023 | 8042023 | 10-Q 6/30/2023 |
| 3312023 | 5052023 | 10-Q 3/31/2023 |
| 12312022 | 2242023 | 10-K 12/31/2022 |
| 9302022 | 11042022 | 10-Q 9/30/2022 |
| 6302022 | 8052022 | 10-Q 6/30/2022 |
| 3312022 | 5062022 | 10-Q 3/31/2022 |
| 12312021 | 2252022 | 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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