AFCG vs. VNQ

Last updated Jun 4, 2026

AFCG (AFC Gamma, Inc.) is a stock, while VNQ (Vanguard Real Estate ETF) is REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. Over the past 5 years, AFCG returned -16.91%/yr vs 2.18%/yr for VNQ. At a 0.34 correlation, their price movements are largely independent.

Performance

AFCG vs. VNQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AFC Gamma, Inc. (AFCG) and Vanguard Real Estate ETF (VNQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFCG achieves a 25.18% return, which is significantly higher than VNQ's 7.83% return.

AFCG

• 1D: -6.17%
• 1M: 19.45%
• YTD: 25.18%
• 6M: 20.53%
• 1Y: -28.14%
• 3Y*: -13.95%
• 5Y*: -16.91%
• 10Y*: —

VNQ

• 1D: -0.12%
• 1M: -1.10%
• YTD: 7.83%
• 6M: 6.75%
• 1Y: 9.97%
• 3Y*: 9.15%
• 5Y*: 2.18%
• 10Y*: 5.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AFCG vs. VNQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AFCG AFC Gamma, Inc.	25.18%	-61.90%	18.70%	-10.49%	-21.23%	4.83%
VNQ Vanguard Real Estate ETF	7.83%	3.24%	4.81%	11.85%	-26.25%	31.90%

Correlation

The correlation between AFCG and VNQ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 22, 2021	0.34

The correlation between AFCG and VNQ shifts across timeframes, from 0.24 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AFCG vs. VNQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AFCG

AFCG Risk / Return Rank: 24
AFCG Sharpe Ratio Rank: 22
AFCG Sortino Ratio Rank: 24
AFCG Omega Ratio Rank: 24
AFCG Calmar Ratio Rank: 25
AFCG Martin Ratio Rank: 27

VNQ

VNQ Risk / Return Rank: 23
VNQ Sharpe Ratio Rank: 22
VNQ Sortino Ratio Rank: 21
VNQ Omega Ratio Rank: 20
VNQ Calmar Ratio Rank: 25
VNQ Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AFCG vs. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AFC Gamma, Inc. (AFCG) and Vanguard Real Estate ETF (VNQ). 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.

	AFCG	VNQ	Difference
Sharpe ratio Return per unit of total volatility	-0.44	0.76	-1.20
Sortino ratio Return per unit of downside risk	-0.27	1.12	-1.39
Omega ratio Gain probability vs. loss probability	0.97	1.14	-0.17
Calmar ratio Return relative to maximum drawdown	-0.46	1.20	-1.67
Martin ratio Return relative to average drawdown	-0.72	3.78	-4.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFCG vs. VNQ - Sharpe Ratio Comparison

The current AFCG Sharpe Ratio is -0.44, which is lower than the VNQ Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of AFCG and VNQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AFCG	VNQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	0.76	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.40	0.12	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.36	0.26	-0.63

Drawdowns

AFCG vs. VNQ - Drawdown Comparison

The maximum AFCG drawdown since its inception was -78.25%, which is greater than VNQ's maximum drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for AFCG and VNQ.

Drawdown Indicators

	AFCG	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	-78.25%	-73.07%	-5.18%
Max Drawdown (1Y) Largest decline over 1 year	-60.78%	-8.34%	-52.44%
Max Drawdown (3Y) Largest decline over 3 years	-76.86%	-17.46%	-59.40%
Max Drawdown (5Y) Largest decline over 5 years	-78.25%	-34.48%	-43.77%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.40%	—
Current Drawdown Current decline from peak	-62.87%	-3.75%	-59.12%
Average Drawdown Average peak-to-trough decline	-32.96%	-13.63%	-19.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.24%	2.64%	+36.60%

Volatility

AFCG vs. VNQ - Volatility Comparison

AFC Gamma, Inc. (AFCG) has a higher volatility of 21.18% compared to Vanguard Real Estate ETF (VNQ) at 3.72%. This indicates that AFCG's price experiences larger fluctuations and is considered to be riskier than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFCG	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.18%	3.72%	+17.46%
Volatility (6M) Calculated over the trailing 6-month period	46.69%	9.26%	+37.43%
Volatility (1Y) Calculated over the trailing 1-year period	64.93%	13.16%	+51.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.63%	18.80%	+23.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.76%	20.70%	+22.06%

Dividends

AFCG vs. VNQ - Dividend Comparison

AFCG's dividend yield for the trailing twelve months is around 10.00%, more than VNQ's 3.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFCG AFC Gamma, Inc.	10.00%	18.60%	17.04%	16.63%	14.18%	5.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNQ Vanguard Real Estate ETF	3.69%	3.92%	3.85%	3.95%	3.91%	2.56%	3.93%	3.39%	4.74%	4.23%	4.82%	3.92%

Frequently Asked Questions

Can I hold both AFCG and VNQ in my portfolio?

AFCG and VNQ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFCG or VNQ?

AFCG has higher volatility (21.18%) compared to VNQ (3.72%). In terms of maximum drawdown, AFCG dropped -78.25% vs VNQ's -73.07%.

Which has better risk-adjusted returns?

VNQ currently has the higher Sharpe Ratio (0.76 vs -0.44), 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.