BNL vs. GAIN

Last updated Jun 4, 2026

BNL (Broadstone Net Lease, Inc.) and GAIN (Gladstone Investment Corporation) are both stocks. BNL operates in REIT - Diversified (Real Estate), while GAIN operates in Asset Management (Financial Services). Over the past 5 years, BNL returned 2.99%/yr vs 13.29%/yr for GAIN. At a 0.34 correlation, their price movements are largely independent.

Performance

BNL vs. GAIN - Performance Comparison

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

Returns By Period

In the year-to-date period, BNL achieves a 18.04% return, which is significantly higher than GAIN's 14.45% return.

BNL

• 1D: -0.10%
• 1M: 3.97%
• YTD: 18.04%
• 6M: 18.92%
• 1Y: 34.20%
• 3Y*: 15.56%
• 5Y*: 2.99%
• 10Y*: —

GAIN

• 1D: -2.81%
• 1M: -7.09%
• YTD: 14.45%
• 6M: 15.36%
• 1Y: 13.60%
• 3Y*: 20.65%
• 5Y*: 13.29%
• 10Y*: 19.44%

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

BNL vs. GAIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BNL Broadstone Net Lease, Inc.	18.04%	17.27%	-1.08%	14.00%	-30.75%	42.88%
GAIN Gladstone Investment Corporation	14.45%	17.11%	5.33%	31.01%	-17.55%	47.72%

Correlation

The correlation between BNL and GAIN is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Mar 23, 2021	0.34

Over the past year, the correlation between BNL and GAIN has dropped to 0.07 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

Fundamentals

EPS BNL : $0.41 GAIN : $3.40
PE Ratio BNL : 48.83 GAIN : 4.58
PS Ratio BNL : 8.53 GAIN : 5.30
Total Revenue (TTM) BNL : $468.77M GAIN : $112.66M
Gross Profit (TTM) BNL : $80.71M GAIN : $80.66M
EBITDA (TTM) BNL : $332.30M GAIN : $57.95M

Return for Risk

BNL vs. GAIN — Risk / Return Rank

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

BNL

BNL Risk / Return Rank: 85
BNL Sharpe Ratio Rank: 86
BNL Sortino Ratio Rank: 83
BNL Omega Ratio Rank: 82
BNL Calmar Ratio Rank: 88
BNL Martin Ratio Rank: 87

GAIN

GAIN Risk / Return Rank: 64
GAIN Sharpe Ratio Rank: 64
GAIN Sortino Ratio Rank: 56
GAIN Omega Ratio Rank: 56
GAIN Calmar Ratio Rank: 70
GAIN Martin Ratio Rank: 75

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. GAIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Broadstone Net Lease, Inc. (BNL) and Gladstone Investment Corporation (GAIN). 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	GAIN	Difference
Sharpe ratio Return per unit of total volatility	1.89	0.72	+1.17
Sortino ratio Return per unit of downside risk	2.59	1.12	+1.47
Omega ratio Gain probability vs. loss probability	1.33	1.15	+0.18
Calmar ratio Return relative to maximum drawdown	4.12	1.68	+2.44
Martin ratio Return relative to average drawdown	10.30	5.20	+5.10
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. GAIN - Sharpe Ratio Comparison

The current BNL Sharpe Ratio is 1.89, which is higher than the GAIN Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of BNL and GAIN, 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

	BNL	GAIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	0.72	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.60	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.25	+0.13

Drawdowns

BNL vs. GAIN - Drawdown Comparison

The maximum BNL drawdown since its inception was -43.56%, smaller than the maximum GAIN drawdown of -80.87%. Use the drawdown chart below to compare losses from any high point for BNL and GAIN.

Drawdown Indicators

	BNL	GAIN	Difference
Max Drawdown Largest peak-to-trough decline	-43.56%	-80.87%	+37.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-8.12%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-19.51%	-14.76%	-4.75%
Max Drawdown (5Y) Largest decline over 5 years	-43.56%	-26.26%	-17.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.28%	—
Current Drawdown Current decline from peak	-2.13%	-8.02%	+5.89%
Average Drawdown Average peak-to-trough decline	-22.73%	-15.92%	-6.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	2.90%	+0.43%

Volatility

BNL vs. GAIN - Volatility Comparison

The current volatility for Broadstone Net Lease, Inc. (BNL) is 4.27%, while Gladstone Investment Corporation (GAIN) has a volatility of 11.06%. This indicates that BNL experiences smaller price fluctuations and is considered to be less risky than GAIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNL	GAIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	11.06%	-6.79%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	16.08%	-3.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.15%	18.90%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.17%	22.32%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.05%	25.67%	-2.62%

Dividends

BNL vs. GAIN - Dividend Comparison

BNL's dividend yield for the trailing twelve months is around 5.76%, less than GAIN's 9.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNL Broadstone Net Lease, Inc.	5.76%	6.68%	7.28%	6.50%	6.66%	4.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GAIN Gladstone Investment Corporation	9.64%	10.74%	12.53%	17.24%	9.88%	6.06%	9.22%	7.06%	9.24%	7.94%	8.87%	9.68%

Financials

Frequently Asked Questions

Can I hold both BNL and GAIN in my portfolio?

BNL and GAIN have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNL or GAIN?

GAIN has higher volatility (11.06%) compared to BNL (4.27%). In terms of maximum drawdown, BNL dropped -43.56% vs GAIN's -80.87%.

Which has better risk-adjusted returns?

BNL currently has the higher Sharpe Ratio (1.89 vs 0.72), 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.