AROW vs. MSCI

Last updated Apr 1, 2026

Compare and contrast key facts about Arrow Financial Corporation (AROW) and MSCI Inc. (MSCI).

Performance

AROW vs. MSCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow Financial Corporation (AROW) and MSCI Inc. (MSCI). The values are adjusted to include any dividend payments, if applicable.

AROW vs. MSCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AROW Arrow Financial Corporation	7.82%	13.95%	7.15%	-10.78%	2.33%	24.98%	-15.58%	25.41%	-0.08%	-11.10%
MSCI MSCI Inc.	-5.68%	-3.17%	7.31%	22.90%	-23.34%	38.14%	74.38%	77.19%	17.95%	62.63%

Fundamentals

Market Cap AROW : $550.98M MSCI : $41.66B
EPS AROW : $2.67 MSCI : $15.54
PE Ratio AROW : 12.57 MSCI : 34.68
PEG Ratio AROW : 5.22 MSCI : 2.15
PS Ratio AROW : 2.63 MSCI : 13.30
Total Revenue (TTM) AROW : $210.15M MSCI : $3.13B
Gross Profit (TTM) AROW : $115.76M MSCI : $2.58B
EBITDA (TTM) AROW : $43.23M MSCI : $1.93B

Returns By Period

In the year-to-date period, AROW achieves a 7.82% return, which is significantly higher than MSCI's -5.68% return. Over the past 10 years, AROW has underperformed MSCI with an annualized return of 8.46%, while MSCI has yielded a comparatively higher 23.21% annualized return.

AROW

• 1D: 0.66%
• 1M: 0.78%
• YTD: 7.82%
• 6M: 20.77%
• 1Y: 32.78%
• 3Y*: 16.58%
• 5Y*: 5.66%
• 10Y*: 8.46%

MSCI

• 1D: 1.34%
• 1M: -5.74%
• YTD: -5.68%
• 6M: -4.33%
• 1Y: -3.40%
• 3Y*: -0.04%
• 5Y*: 5.82%
• 10Y*: 23.21%

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

Return for Risk

AROW vs. MSCI — Risk / Return Rank

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

AROW

AROW Risk / Return Rank: 77
AROW Sharpe Ratio Rank: 78
AROW Sortino Ratio Rank: 74
AROW Omega Ratio Rank: 70
AROW Calmar Ratio Rank: 81
AROW Martin Ratio Rank: 81

MSCI

MSCI Risk / Return Rank: 35
MSCI Sharpe Ratio Rank: 37
MSCI Sortino Ratio Rank: 32
MSCI Omega Ratio Rank: 32
MSCI Calmar Ratio Rank: 38
MSCI Martin Ratio Rank: 37

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.

AROW vs. MSCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow Financial Corporation (AROW) and MSCI Inc. (MSCI). 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.

	AROW	MSCI	Difference
Sharpe ratio Return per unit of total volatility	1.15	-0.11	+1.27
Sortino ratio Return per unit of downside risk	1.76	0.05	+1.71
Omega ratio Gain probability vs. loss probability	1.21	1.01	+0.20
Calmar ratio Return relative to maximum drawdown	2.46	-0.12	+2.58
Martin ratio Return relative to average drawdown	6.18	-0.34	+6.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AROW vs. MSCI - Sharpe Ratio Comparison

The current AROW Sharpe Ratio is 1.15, which is higher than the MSCI Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of AROW and MSCI, 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

	AROW	MSCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	-0.11	+1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.19	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.75	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.53	-0.21

Correlation

The correlation between AROW and MSCI is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

AROW vs. MSCI - Dividend Comparison

AROW's dividend yield for the trailing twelve months is around 3.46%, more than MSCI's 1.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AROW Arrow Financial Corporation	3.46%	3.63%	3.80%	3.78%	3.12%	2.89%	3.40%	2.69%	3.12%	2.88%	2.42%	3.63%
MSCI MSCI Inc.	1.38%	1.25%	1.07%	0.98%	0.98%	0.59%	0.65%	0.98%	1.30%	1.04%	1.27%	1.11%

Drawdowns

AROW vs. MSCI - Drawdown Comparison

The maximum AROW drawdown since its inception was -67.11%, roughly equal to the maximum MSCI drawdown of -69.06%. Use the drawdown chart below to compare losses from any high point for AROW and MSCI.

Drawdown Indicators

	AROW	MSCI	Difference
Max Drawdown Largest peak-to-trough decline	-67.11%	-69.06%	+1.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.58%	-18.07%	+5.49%
Max Drawdown (5Y) Largest decline over 5 years	-50.54%	-43.74%	-6.80%
Max Drawdown (10Y) Largest decline over 10 years	-50.54%	-43.74%	-6.80%
Current Drawdown Current decline from peak	-6.08%	-16.20%	+10.12%
Average Drawdown Average peak-to-trough decline	-12.43%	-13.12%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	6.48%	-1.46%

Volatility

AROW vs. MSCI - Volatility Comparison

Arrow Financial Corporation (AROW) and MSCI Inc. (MSCI) have volatilities of 6.31% and 6.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AROW	MSCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.31%	6.58%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	19.86%	21.10%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	28.55%	30.07%	-1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.77%	30.55%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.24%	31.03%	+1.21%

Financials

AROW vs. MSCI - Profitability Comparison

The chart below illustrates the profitability comparison between Arrow Financial Corporation and MSCI Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AROW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Arrow Financial Corporation reported a gross profit of 0.00 and revenue of 30.45M. Therefore, the gross margin over that period was 0.0%.

MSCI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, MSCI Inc. reported a gross profit of 679.15M and revenue of 822.53M. Therefore, the gross margin over that period was 82.6%.

AROW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Arrow Financial Corporation reported an operating income of 474.00K and revenue of 30.45M, resulting in an operating margin of 1.6%.

MSCI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, MSCI Inc. reported an operating income of 463.62M and revenue of 822.53M, resulting in an operating margin of 56.4%.

AROW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Arrow Financial Corporation reported a net income of 14.01M and revenue of 30.45M, resulting in a net margin of 46.0%.

MSCI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, MSCI Inc. reported a net income of 284.67M and revenue of 822.53M, resulting in a net margin of 34.6%.