AGM vs. MBIN

Last updated Apr 1, 2026

Compare and contrast key facts about Federal Agricultural Mortgage Corporation (AGM) and Merchants Bancorp (MBIN).

Performance

AGM vs. MBIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federal Agricultural Mortgage Corporation (AGM) and Merchants Bancorp (MBIN). The values are adjusted to include any dividend payments, if applicable.

AGM vs. MBIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGM Federal Agricultural Mortgage Corporation	-14.60%	-7.96%	6.08%	74.61%	-5.83%	72.62%	-6.60%	43.16%	-20.38%	4.12%
MBIN Merchants Bancorp	26.31%	-5.51%	-13.59%	77.01%	-22.06%	72.80%	42.55%	0.30%	2.43%	17.43%

Fundamentals

EPS AGM : $24.96 MBIN : $4.76
PE Ratio AGM : 5.94 MBIN : 9.01
PS Ratio AGM : 0.67 MBIN : 1.64
Total Revenue (TTM) AGM : $1.61B MBIN : $1.20B
Gross Profit (TTM) AGM : $0.00 MBIN : $402.96M
EBITDA (TTM) AGM : $0.00 MBIN : $192.22M

Returns By Period

In the year-to-date period, AGM achieves a -14.60% return, which is significantly lower than MBIN's 26.31% return.

AGM

• 1D: 2.76%
• 1M: -4.90%
• YTD: -14.60%
• 6M: -10.00%
• 1Y: -18.10%
• 3Y*: 6.90%
• 5Y*: 11.36%
• 10Y*: 18.52%

MBIN

• 1D: 0.96%
• 1M: 1.75%
• YTD: 26.31%
• 6M: 35.66%
• 1Y: 17.32%
• 3Y*: 19.34%
• 5Y*: 10.40%
• 10Y*: —

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

Return for Risk

AGM vs. MBIN — Risk / Return Rank

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

AGM

AGM Risk / Return Rank: 19
AGM Sharpe Ratio Rank: 17
AGM Sortino Ratio Rank: 19
AGM Omega Ratio Rank: 18
AGM Calmar Ratio Rank: 23
AGM Martin Ratio Rank: 19

MBIN

MBIN Risk / Return Rank: 56
MBIN Sharpe Ratio Rank: 58
MBIN Sortino Ratio Rank: 53
MBIN Omega Ratio Rank: 52
MBIN Calmar Ratio Rank: 60
MBIN Martin Ratio Rank: 57

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.

AGM vs. MBIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federal Agricultural Mortgage Corporation (AGM) and Merchants Bancorp (MBIN). 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.

	AGM	MBIN	Difference
Sharpe ratio Return per unit of total volatility	-0.55	0.44	-0.99
Sortino ratio Return per unit of downside risk	-0.55	0.88	-1.43
Omega ratio Gain probability vs. loss probability	0.92	1.12	-0.19
Calmar ratio Return relative to maximum drawdown	-0.58	0.81	-1.39
Martin ratio Return relative to average drawdown	-1.19	1.49	-2.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGM vs. MBIN - Sharpe Ratio Comparison

The current AGM Sharpe Ratio is -0.55, which is lower than the MBIN Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of AGM and MBIN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AGM	MBIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	0.44	-0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.29	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.46	-0.15

Correlation

The correlation between AGM and MBIN is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AGM vs. MBIN - Dividend Comparison

AGM's dividend yield for the trailing twelve months is around 4.11%, more than MBIN's 0.96% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGM Federal Agricultural Mortgage Corporation	4.11%	3.42%	2.84%	2.30%	3.37%	2.84%	4.31%	3.35%	3.84%	1.84%	1.82%	2.03%
MBIN Merchants Bancorp	0.96%	1.17%	0.99%	0.75%	1.15%	0.76%	1.16%	1.42%	1.20%	0.25%	0.00%	0.00%

Drawdowns

AGM vs. MBIN - Drawdown Comparison

The maximum AGM drawdown since its inception was -94.63%, which is greater than MBIN's maximum drawdown of -53.77%. Use the drawdown chart below to compare losses from any high point for AGM and MBIN.

Drawdown Indicators

	AGM	MBIN	Difference
Max Drawdown Largest peak-to-trough decline	-94.63%	-53.77%	-40.86%
Max Drawdown (1Y) Largest decline over 1 year	-31.94%	-21.25%	-10.69%
Max Drawdown (5Y) Largest decline over 5 years	-32.54%	-43.94%	+11.40%
Max Drawdown (10Y) Largest decline over 10 years	-53.30%	—	—
Current Drawdown Current decline from peak	-28.00%	-16.86%	-11.14%
Average Drawdown Average peak-to-trough decline	-27.93%	-20.15%	-7.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.57%	11.52%	+4.05%

Volatility

AGM vs. MBIN - Volatility Comparison

Federal Agricultural Mortgage Corporation (AGM) has a higher volatility of 8.44% compared to Merchants Bancorp (MBIN) at 5.24%. This indicates that AGM's price experiences larger fluctuations and is considered to be riskier than MBIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGM	MBIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.44%	5.24%	+3.20%
Volatility (6M) Calculated over the trailing 6-month period	24.80%	25.44%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	32.95%	39.41%	-6.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.03%	36.08%	-6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.64%	40.36%	-5.72%

Financials

AGM vs. MBIN - Profitability Comparison

The chart below illustrates the profitability comparison between Federal Agricultural Mortgage Corporation and Merchants Bancorp over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AGM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Federal Agricultural Mortgage Corporation reported a gross profit of -284.04M and revenue of 401.81M. Therefore, the gross margin over that period was -70.7%.

MBIN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Merchants Bancorp reported a gross profit of 0.00 and revenue of 193.49M. Therefore, the gross margin over that period was 0.0%.

AGM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Federal Agricultural Mortgage Corporation reported an operating income of -195.25M and revenue of 401.81M, resulting in an operating margin of -48.6%.

MBIN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Merchants Bancorp reported an operating income of 0.00 and revenue of 193.49M, resulting in an operating margin of 0.0%.

AGM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Federal Agricultural Mortgage Corporation reported a net income of 23.00M and revenue of 401.81M, resulting in a net margin of 5.7%.

MBIN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Merchants Bancorp reported a net income of 67.85M and revenue of 193.49M, resulting in a net margin of 35.1%.