BNL vs. ADC
BNL (Broadstone Net Lease, Inc.) and ADC (Agree Realty Corporation) are both stocks. Both are in the Real Estate sector — BNL in REIT - Diversified, ADC in REIT - Retail. Over the past 5 years, BNL returned 2.53%/yr vs 5.12%/yr for ADC. Their 0.60 correlation means they have sometimes moved together and sometimes differently.
Performance
BNL vs. ADC - Performance Comparison
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Returns By Period
In the year-to-date period, BNL achieves a 26.99% return, which is significantly higher than ADC's 10.68% return.
BNL
- 1D
- -0.42%
- 1M
- 0.75%
- 6M
- 19.16%
- YTD
- 26.99%
- 1Y
- 40.47%
- 3Y*
- 16.55%
- 5Y*
- 2.53%
- 10Y*
- —
- ALL TIME*
- 9.40%
ADC
- 1D
- -0.44%
- 1M
- 0.33%
- 6M
- 9.97%
- YTD
- 10.68%
- 1Y
- 10.08%
- 3Y*
- 11.21%
- 5Y*
- 5.12%
- 10Y*
- 8.86%
- ALL TIME*
- 11.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $97.66M | $90.08M | $88.85M | |
| $36.58M | $41.44M | $38.77M |
BNL vs. ADC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BNL Broadstone Net Lease, Inc. | 26.99% | 17.27% | -1.08% | 14.00% | -30.75% | 39.13% |
ADC Agree Realty Corporation | 10.68% | 6.62% | 17.20% | -7.07% | 3.50% | 10.45% |
Correlation
The correlation between BNL and ADC is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2021 | 0.60 |
The correlation between BNL and ADC has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.
Fundamentals
BNL:
$4.11B
ADC:
$9.34B
BNL:
$0.52
ADC:
$1.91
BNL:
40.87
ADC:
40.73
BNL:
8.91
ADC:
11.66
BNL:
1.49
ADC:
1.48
BNL:
$478.04M
ADC:
$779.62M
BNL:
$89.99M
ADC:
$693.49M
BNL:
$361.47M
ADC:
$628.17M
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Return for Risk
BNL vs. ADC — Risk / Return Rank
BNL
ADC
BNL vs. ADC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Broadstone Net Lease, Inc. (BNL) and Agree Realty Corporation (ADC). 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.
| BNL | ADC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.15 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 1.19 | +3.68 |
| Martin ratioReturn relative to average drawdown | 12.25 | 2.82 | +9.43 |
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Drawdowns
BNL vs. ADC - Drawdown Comparison
The maximum BNL drawdown since its inception was -43.56%, smaller than the maximum ADC drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for BNL and ADC.
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Drawdown Indicators
| BNL | ADC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.56% | -70.25% | +26.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -11.14% | +2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -19.51% | -16.28% | -3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -43.56% | -29.52% | -14.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.00% | — |
Current DrawdownCurrent decline from peak | -6.26% | -3.77% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -22.08% | -9.61% | -12.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 4.69% | -1.38% |
Volatility
BNL vs. ADC - Volatility Comparison
Broadstone Net Lease, Inc. (BNL) has a higher volatility of 6.99% compared to Agree Realty Corporation (ADC) at 6.01%. This indicates that BNL's price experiences larger fluctuations and is considered to be riskier than ADC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNL | ADC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 6.01% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 14.04% | 13.05% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.89% | 16.46% | +2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.00% | 18.88% | +4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.01% | 23.69% | -0.68% |
Dividends
BNL vs. ADC - Dividend Comparison
BNL's dividend yield for the trailing twelve months is around 5.44%, more than ADC's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADC Agree Realty Corporation | 4.05% | 4.28% | 4.26% | 4.64% | 3.95% | 3.65% | 3.61% | 3.25% | 3.65% | 3.94% | 4.17% | 5.43% |
BNL Broadstone Net Lease, Inc. | 5.44% | 6.68% | 7.28% | 6.50% | 6.66% | 4.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
BNL vs. ADC - Financials Comparison
This section allows you to compare key financial metrics between Broadstone Net Lease, Inc. and Agree Realty Corporation. 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
BNL vs. ADC - Profitability Comparison
BNL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Broadstone Net Lease, Inc. reported a gross profit of 0.00 and revenue of 122.31M. Therefore, the gross margin over that period was 0.0%.
ADC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Agree Realty Corporation reported a gross profit of 189.84M and revenue of 205.10M. Therefore, the gross margin over that period was 92.6%.
BNL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Broadstone Net Lease, Inc. reported an operating income of 0.00 and revenue of 122.31M, resulting in an operating margin of 0.0%.
ADC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Agree Realty Corporation reported an operating income of 95.31M and revenue of 205.10M, resulting in an operating margin of 46.5%.
BNL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Broadstone Net Lease, Inc. reported a net income of -456.00K and revenue of 122.31M, resulting in a net margin of -0.4%.
ADC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Agree Realty Corporation reported a net income of 52.79M and revenue of 205.10M, resulting in a net margin of 25.7%.
Frequently Asked Questions
BNL and ADC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNL has higher volatility (6.99%) compared to ADC (6.01%). In terms of maximum drawdown, BNL dropped -43.56% vs ADC's -70.25%.
BNL currently has the higher Sharpe Ratio (2.16 vs 0.81), 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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