AAT vs. ESS
AAT (American Assets Trust, Inc.) and ESS (Essex Property Trust, Inc.) are both stocks. Both are in the Real Estate sector — AAT in REIT - Diversified, ESS in REIT - Residential. Over the past 10 years, AAT returned -1.66%/yr vs 6.14%/yr for ESS. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
AAT vs. ESS - Performance Comparison
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Returns By Period
In the year-to-date period, AAT achieves a 25.33% return, which is significantly higher than ESS's 8.37% return. Over the past 10 years, AAT has underperformed ESS with an annualized return of -1.66%, while ESS has yielded a comparatively higher 6.14% annualized return.
AAT
- 1D
- -0.09%
- 1M
- 13.31%
- YTD
- 25.33%
- 6M
- 23.83%
- 1Y
- 24.39%
- 3Y*
- 12.82%
- 5Y*
- -4.36%
- 10Y*
- -1.66%
ESS
- 1D
- 0.08%
- 1M
- 4.96%
- YTD
- 8.37%
- 6M
- 9.16%
- 1Y
- 2.89%
- 3Y*
- 10.87%
- 5Y*
- 1.72%
- 10Y*
- 6.14%
AAT vs. ESS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AAT American Assets Trust, Inc. | 25.33% | -22.96% | 23.32% | -9.58% | -26.36% | 34.03% | -35.04% | 17.11% | 8.14% | -8.89% |
ESS Essex Property Trust, Inc. | 8.37% | -4.98% | 18.36% | 21.97% | -37.76% | 52.40% | -18.09% | 25.92% | 4.83% | 6.82% |
Correlation
The correlation between AAT and ESS is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2011 | 0.59 |
The correlation between AAT and ESS has been stable across timeframes, ranging from 0.50 to 0.59 - a consistent structural relationship.
Fundamentals
AAT:
$0.29
ESS:
$9.59
AAT:
79.94
ESS:
28.97
AAT:
3.68
ESS:
2.03
AAT:
4.09
ESS:
7.04
AAT:
$438.19M
ESS:
$1.91B
AAT:
$266.23M
ESS:
$1.32B
AAT:
$231.92M
ESS:
$1.44B
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Return for Risk
AAT vs. ESS — Risk / Return Rank
AAT
ESS
AAT vs. ESS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Assets Trust, Inc. (AAT) and Essex Property Trust, Inc. (ESS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AAT | ESS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | 0.14 | +0.87 |
Sortino ratioReturn per unit of downside risk | 1.45 | 0.32 | +1.13 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.04 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.75 | 0.18 | +1.58 |
Martin ratioReturn relative to average drawdown | 3.55 | 0.30 | +3.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAT | ESS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 0.14 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 0.07 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.05 | 0.24 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.50 | -0.35 |
Drawdowns
AAT vs. ESS - Drawdown Comparison
The maximum AAT drawdown since its inception was -61.85%, roughly equal to the maximum ESS drawdown of -62.67%. Use the drawdown chart below to compare losses from any high point for AAT and ESS.
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Drawdown Indicators
| AAT | ESS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.85% | -62.67% | +0.82% |
Max Drawdown (1Y)Largest decline over 1 year | -13.97% | -16.49% | +2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -38.02% | -20.77% | -17.25% |
Max Drawdown (5Y)Largest decline over 5 years | -56.18% | -43.87% | -12.31% |
Max Drawdown (10Y)Largest decline over 10 years | -61.85% | -44.84% | -17.01% |
Current DrawdownCurrent decline from peak | -34.87% | -9.86% | -25.01% |
Average DrawdownAverage peak-to-trough decline | -20.15% | -10.86% | -9.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.89% | 9.80% | -2.91% |
Volatility
AAT vs. ESS - Volatility Comparison
American Assets Trust, Inc. (AAT) has a higher volatility of 6.20% compared to Essex Property Trust, Inc. (ESS) at 4.48%. This indicates that AAT's price experiences larger fluctuations and is considered to be riskier than ESS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAT | ESS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 4.48% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 16.47% | 14.01% | +2.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.16% | 20.76% | +3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.05% | 23.70% | +4.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.09% | 25.80% | +5.29% |
Dividends
AAT vs. ESS - Dividend Comparison
AAT's dividend yield for the trailing twelve months is around 5.83%, more than ESS's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAT American Assets Trust, Inc. | 5.83% | 7.18% | 5.10% | 5.86% | 4.83% | 3.09% | 3.46% | 2.48% | 2.71% | 2.75% | 2.34% | 2.47% |
ESS Essex Property Trust, Inc. | 3.71% | 3.88% | 2.57% | 3.73% | 4.15% | 2.37% | 3.50% | 2.59% | 3.03% | 2.90% | 2.75% | 2.41% |
Financials
AAT vs. ESS - Financials Comparison
This section allows you to compare key financial metrics between American Assets Trust, Inc. and Essex Property Trust, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AAT vs. ESS - Profitability Comparison
AAT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American Assets Trust, Inc. reported a gross profit of 66.93M and revenue of 110.59M. Therefore, the gross margin over that period was 60.5%.
ESS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Essex Property Trust, Inc. reported a gross profit of 343.50M and revenue of 484.76M. Therefore, the gross margin over that period was 70.9%.
AAT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American Assets Trust, Inc. reported an operating income of 25.83M and revenue of 110.59M, resulting in an operating margin of 23.4%.
ESS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Essex Property Trust, Inc. reported an operating income of 155.19M and revenue of 484.76M, resulting in an operating margin of 32.0%.
AAT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American Assets Trust, Inc. reported a net income of 5.13M and revenue of 110.59M, resulting in a net margin of 4.6%.
ESS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Essex Property Trust, Inc. reported a net income of -6.02M and revenue of 484.76M, resulting in a net margin of -1.2%.
Frequently Asked Questions
AAT and ESS have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAT has higher volatility (6.20%) compared to ESS (4.48%). In terms of maximum drawdown, AAT dropped -61.85% vs ESS's -62.67%.
AAT currently has the higher Sharpe Ratio (1.01 vs 0.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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