BHF vs. PGR

Last updated Jun 3, 2026

BHF (Brighthouse Financial, Inc.) and PGR (The Progressive Corporation) are both stocks. Both are in the Financial Services sector — BHF in Insurance - Life, PGR in Insurance - Property & Casualty. Over the past 5 years, BHF returned 5.08%/yr vs 17.10%/yr for PGR. At a 0.30 correlation, their price movements are largely independent.

Performance

BHF vs. PGR - Performance Comparison

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

Returns By Period

In the year-to-date period, BHF achieves a -3.94% return, which is significantly higher than PGR's -8.03% return.

BHF

• 1D: -0.67%
• 1M: -0.65%
• YTD: -3.94%
• 6M: -5.04%
• 1Y: 5.26%
• 3Y*: 12.62%
• 5Y*: 5.08%
• 10Y*: —

PGR

• 1D: 2.15%
• 1M: -1.25%
• YTD: -8.03%
• 6M: -8.45%
• 1Y: -27.41%
• 3Y*: 18.48%
• 5Y*: 17.10%
• 10Y*: 22.96%

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

BHF vs. PGR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BHF Brighthouse Financial, Inc.	-3.94%	34.87%	-9.22%	3.22%	-1.02%	43.07%	-7.71%	28.71%	-48.02%	-16.23%
PGR The Progressive Corporation	-8.03%	-3.02%	51.39%	23.16%	26.81%	10.84%	41.48%	25.14%	9.39%	23.92%

Correlation

The correlation between BHF and PGR is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017	0.30

Fundamentals

EPS BHF : -$1.50 PGR : $19.23
PS Ratio BHF : 0.48 PGR : 1.32
Total Revenue (TTM) BHF : $5.58B PGR : $87.65B
Gross Profit (TTM) BHF : $2.23B PGR : $23.23B
EBITDA (TTM) BHF : $942.00M PGR : $14.81B

Return for Risk

BHF vs. PGR — Risk / Return Rank

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

BHF

BHF Risk / Return Rank: 46
BHF Sharpe Ratio Rank: 43
BHF Sortino Ratio Rank: 49
BHF Omega Ratio Rank: 50
BHF Calmar Ratio Rank: 44
BHF Martin Ratio Rank: 44

PGR

PGR Risk / Return Rank: 6
PGR Sharpe Ratio Rank: 2
PGR Sortino Ratio Rank: 4
PGR Omega Ratio Rank: 5
PGR Calmar Ratio Rank: 6
PGR Martin Ratio Rank: 11

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.

BHF vs. PGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brighthouse Financial, Inc. (BHF) and The Progressive Corporation (PGR). 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.

	BHF	PGR	Difference
Sharpe ratio Return per unit of total volatility	0.10	-1.24	+1.34
Sortino ratio Return per unit of downside risk	0.81	-1.72	+2.53
Omega ratio Gain probability vs. loss probability	1.11	0.80	+0.31
Calmar ratio Return relative to maximum drawdown	0.15	-0.89	+1.04
Martin ratio Return relative to average drawdown	0.34	-1.26	+1.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BHF vs. PGR - Sharpe Ratio Comparison

The current BHF Sharpe Ratio is 0.10, which is higher than the PGR Sharpe Ratio of -1.24. The chart below compares the historical Sharpe Ratios of BHF and PGR, 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

	BHF	PGR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	-1.24	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.70	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.58	-0.61

Drawdowns

BHF vs. PGR - Drawdown Comparison

The maximum BHF drawdown since its inception was -76.93%, which is greater than PGR's maximum drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for BHF and PGR.

Drawdown Indicators

	BHF	PGR	Difference
Max Drawdown Largest peak-to-trough decline	-76.93%	-71.06%	-5.87%
Max Drawdown (1Y) Largest decline over 1 year	-26.89%	-29.41%	+2.52%
Max Drawdown (3Y) Largest decline over 3 years	-31.14%	-30.35%	-0.79%
Max Drawdown (5Y) Largest decline over 5 years	-35.19%	-30.35%	-4.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.35%	—
Current Drawdown Current decline from peak	-11.09%	-28.00%	+16.91%
Average Drawdown Average peak-to-trough decline	-33.01%	-14.53%	-18.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.82%	21.03%	-9.21%

Volatility

BHF vs. PGR - Volatility Comparison

The current volatility for Brighthouse Financial, Inc. (BHF) is 2.80%, while The Progressive Corporation (PGR) has a volatility of 5.58%. This indicates that BHF experiences smaller price fluctuations and is considered to be less risky than PGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BHF	PGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	5.58%	-2.78%
Volatility (6M) Calculated over the trailing 6-month period	7.00%	16.17%	-9.17%
Volatility (1Y) Calculated over the trailing 1-year period	54.02%	22.22%	+31.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.41%	24.51%	+18.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.84%	24.43%	+24.41%

Dividends

BHF vs. PGR - Dividend Comparison

BHF has not paid dividends to shareholders, while PGR's dividend yield for the trailing twelve months is around 7.06%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BHF Brighthouse Financial, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PGR The Progressive Corporation	7.06%	2.15%	0.48%	0.25%	0.31%	6.23%	2.68%	3.89%	1.86%	1.21%	2.50%	2.16%

Financials

BHF vs. PGR - Profitability Comparison

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

BHF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brighthouse Financial, Inc. reported a gross profit of 0.00 and revenue of 1.53B. Therefore, the gross margin over that period was 0.0%.

PGR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported a gross profit of 6.66B and revenue of 22.74B. Therefore, the gross margin over that period was 29.3%.

BHF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brighthouse Financial, Inc. reported an operating income of 0.00 and revenue of 1.53B, resulting in an operating margin of 0.0%.

PGR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported an operating income of 3.68B and revenue of 22.74B, resulting in an operating margin of 16.2%.

BHF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brighthouse Financial, Inc. reported a net income of -766.00M and revenue of 1.53B, resulting in a net margin of -50.2%.

PGR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported a net income of 2.95B and revenue of 22.74B, resulting in a net margin of 13.0%.

Frequently Asked Questions

Can I hold both BHF and PGR in my portfolio?

BHF and PGR have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BHF or PGR?

PGR has higher volatility (5.58%) compared to BHF (2.80%). In terms of maximum drawdown, BHF dropped -76.93% vs PGR's -71.06%.

Which has better risk-adjusted returns?

BHF currently has the higher Sharpe Ratio (0.10 vs -1.24), 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.