BCSF vs. SAR
BCSF (Bain Capital Specialty Finance, Inc.) and SAR (Saratoga Investment Corp.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 5 years, BCSF returned 6.70%/yr vs 8.62%/yr for SAR. At a 0.43 correlation, their price movements are largely independent.
Performance
BCSF vs. SAR - Performance Comparison
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Returns By Period
In the year-to-date period, BCSF achieves a -6.30% return, which is significantly lower than SAR's 4.97% return.
BCSF
- 1D
- -1.54%
- 1M
- -4.69%
- YTD
- -6.30%
- 6M
- -3.97%
- 1Y
- -6.04%
- 3Y*
- 10.52%
- 5Y*
- 6.70%
- 10Y*
- —
SAR
- 1D
- 0.05%
- 1M
- 0.54%
- YTD
- 4.97%
- 6M
- 4.52%
- 1Y
- 6.39%
- 3Y*
- 9.08%
- 5Y*
- 8.62%
- 10Y*
- 13.90%
BCSF vs. SAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BCSF Bain Capital Specialty Finance, Inc. | -6.30% | -9.60% | 29.52% | 41.95% | -13.31% | 36.98% | -28.91% | 28.19% | -4.60% |
SAR Saratoga Investment Corp. | 4.97% | 10.36% | 6.07% | 12.91% | -3.82% | 51.00% | -10.92% | 34.20% | -1.13% |
Correlation
The correlation between BCSF and SAR is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018 | 0.43 |
The correlation between BCSF and SAR shifts across timeframes, from 0.43 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
BCSF:
$790.10M
SAR:
$350.29M
BCSF:
$1.50
SAR:
$2.46
BCSF:
8.10
SAR:
8.97
BCSF:
3.33
SAR:
0.01
BCSF:
$237.34M
SAR:
$62.82B
BCSF:
$150.81M
SAR:
$47.57M
BCSF:
-$29.62M
SAR:
$1.29B
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Return for Risk
BCSF vs. SAR — Risk / Return Rank
BCSF
SAR
BCSF vs. SAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bain Capital Specialty Finance, Inc. (BCSF) and Saratoga Investment Corp. (SAR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BCSF | SAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.07 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 0.46 | -0.84 |
| Martin ratioReturn relative to average drawdown | -0.76 | 1.20 | -1.95 |
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Drawdowns
BCSF vs. SAR - Drawdown Comparison
The maximum BCSF drawdown since its inception was -62.42%, smaller than the maximum SAR drawdown of -90.67%. Use the drawdown chart below to compare losses from any high point for BCSF and SAR.
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Drawdown Indicators
| BCSF | SAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.42% | -90.67% | +28.25% |
Max Drawdown (1Y)Largest decline over 1 year | -16.17% | -13.89% | -2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -26.38% | -14.38% | -12.00% |
Max Drawdown (5Y)Largest decline over 5 years | -26.38% | -26.19% | -0.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -69.89% | — |
Current DrawdownCurrent decline from peak | -22.18% | -2.90% | -19.28% |
Average DrawdownAverage peak-to-trough decline | -12.31% | -17.57% | +5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.01% | 5.36% | +2.65% |
Volatility
BCSF vs. SAR - Volatility Comparison
Bain Capital Specialty Finance, Inc. (BCSF) has a higher volatility of 7.28% compared to Saratoga Investment Corp. (SAR) at 4.19%. This indicates that BCSF's price experiences larger fluctuations and is considered to be riskier than SAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCSF | SAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.28% | 4.19% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 18.00% | 15.33% | +2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.93% | 19.73% | +2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.36% | 22.55% | -2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.97% | 37.67% | -6.70% |
Dividends
BCSF vs. SAR - Dividend Comparison
BCSF's dividend yield for the trailing twelve months is around 15.52%, less than SAR's 17.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCSF Bain Capital Specialty Finance, Inc. | 15.52% | 14.02% | 10.27% | 10.62% | 11.60% | 8.94% | 11.73% | 8.30% | 2.44% | 0.00% | 0.00% | 0.00% |
SAR Saratoga Investment Corp. | 17.35% | 14.04% | 13.80% | 10.90% | 11.02% | 6.16% | 6.57% | 6.61% | 10.35% | 10.51% | 9.12% | 14.14% |
Financials
BCSF vs. SAR - Financials Comparison
This section allows you to compare key financial metrics between Bain Capital Specialty Finance, Inc. and Saratoga Investment Corp.. 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
BCSF vs. SAR - Profitability Comparison
BCSF - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bain Capital Specialty Finance, Inc. reported a gross profit of 0.00 and revenue of 50.13M. Therefore, the gross margin over that period was 0.0%.
SAR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported a gross profit of 0.00 and revenue of 62.74B. Therefore, the gross margin over that period was 0.0%.
BCSF - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bain Capital Specialty Finance, Inc. reported an operating income of 0.00 and revenue of 50.13M, resulting in an operating margin of 0.0%.
SAR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported an operating income of 0.00 and revenue of 62.74B, resulting in an operating margin of 0.0%.
BCSF - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bain Capital Specialty Finance, Inc. reported a net income of 27.36M and revenue of 50.13M, resulting in a net margin of 54.6%.
SAR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported a net income of 0.00 and revenue of 62.74B, resulting in a net margin of 0.0%.
Frequently Asked Questions
BCSF and SAR have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCSF has higher volatility (7.28%) compared to SAR (4.19%). In terms of maximum drawdown, BCSF dropped -62.42% vs SAR's -90.67%.
SAR currently has the higher Sharpe Ratio (0.33 vs -0.28), 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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