BNL vs. ADC

Last updated Apr 1, 2026

Compare and contrast key facts about Broadstone Net Lease, Inc. (BNL) and Agree Realty Corporation (ADC).

Performance

BNL vs. ADC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Broadstone Net Lease, Inc. (BNL) and Agree Realty Corporation (ADC). The values are adjusted to include any dividend payments, if applicable.

BNL vs. ADC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BNL Broadstone Net Lease, Inc.	6.86%	17.27%	-1.08%	14.00%	-30.75%	42.88%
ADC Agree Realty Corporation	5.75%	6.62%	17.20%	-7.07%	3.50%	11.37%

Fundamentals

Market Cap BNL : $3.62B ADC : $8.67B
EPS BNL : $0.49 ADC : $1.79
PE Ratio BNL : 37.40 ADC : 42.23
PS Ratio BNL : 7.95 ADC : 11.68
PB Ratio BNL : 1.25 ADC : 1.42
Total Revenue (TTM) BNL : $454.14M ADC : $718.40M
Gross Profit (TTM) BNL : $103.00M ADC : $648.34M
EBITDA (TTM) BNL : $313.35M ADC : $595.08M

Returns By Period

In the year-to-date period, BNL achieves a 6.86% return, which is significantly higher than ADC's 5.75% return.

BNL

• 1D: -0.10%
• 1M: -4.27%
• YTD: 6.86%
• 6M: 5.62%
• 1Y: 14.65%
• 3Y*: 9.83%
• 5Y*: 6.39%
• 10Y*: —

ADC

• 1D: 0.90%
• 1M: -6.01%
• YTD: 5.75%
• 6M: 8.38%
• 1Y: 1.86%
• 3Y*: 7.91%
• 5Y*: 6.50%
• 10Y*: 11.40%

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

Return for Risk

BNL vs. ADC — Risk / Return Rank

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

BNL

BNL Risk / Return Rank: 64
BNL Sharpe Ratio Rank: 67
BNL Sortino Ratio Rank: 58
BNL Omega Ratio Rank: 58
BNL Calmar Ratio Rank: 67
BNL Martin Ratio Rank: 71

ADC

ADC Risk / Return Rank: 44
ADC Sharpe Ratio Rank: 46
ADC Sortino Ratio Rank: 37
ADC Omega Ratio Rank: 37
ADC Calmar Ratio Rank: 50
ADC Martin Ratio Rank: 48

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.

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.

	BNL	ADC	Difference
Sharpe ratio Return per unit of total volatility	0.71	0.11	+0.60
Sortino ratio Return per unit of downside risk	1.07	0.28	+0.79
Omega ratio Gain probability vs. loss probability	1.14	1.03	+0.11
Calmar ratio Return relative to maximum drawdown	1.22	0.31	+0.90
Martin ratio Return relative to average drawdown	3.53	0.51	+3.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNL vs. ADC - Sharpe Ratio Comparison

The current BNL Sharpe Ratio is 0.71, which is higher than the ADC Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of BNL and ADC, 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

	BNL	ADC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	0.11	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.35	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.38	-0.08

Correlation

The correlation between BNL and ADC is 0.59, 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

BNL vs. ADC - Dividend Comparison

BNL's dividend yield for the trailing twelve months is around 6.36%, more than ADC's 4.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNL Broadstone Net Lease, Inc.	6.36%	6.68%	7.28%	6.50%	6.66%	4.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ADC Agree Realty Corporation	4.12%	4.28%	4.26%	4.64%	3.95%	3.65%	3.61%	3.25%	3.65%	3.94%	4.17%	5.43%

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.

Drawdown Indicators

	BNL	ADC	Difference
Max Drawdown Largest peak-to-trough decline	-43.56%	-70.25%	+26.69%
Max Drawdown (1Y) Largest decline over 1 year	-14.07%	-9.40%	-4.67%
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 Drawdown Current decline from peak	-11.12%	-7.66%	-3.46%
Average Drawdown Average peak-to-trough decline	-23.41%	-9.65%	-13.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.85%	5.76%	-0.91%

Volatility

BNL vs. ADC - Volatility Comparison

Broadstone Net Lease, Inc. (BNL) has a higher volatility of 5.70% compared to Agree Realty Corporation (ADC) at 4.39%. 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.

Volatility by Period

	BNL	ADC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	4.39%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	13.63%	11.35%	+2.28%
Volatility (1Y) Calculated over the trailing 1-year period	20.82%	17.42%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.24%	18.84%	+4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	23.72%	-0.49%

Financials