BNL vs. GOOD

Last updated Jun 3, 2026

BNL (Broadstone Net Lease, Inc.) and GOOD (Gladstone Commercial Corporation) are both stocks. Both operate in the REIT - Diversified industry within the Real Estate sector. Over the past 5 years, BNL returned 3.32%/yr vs -2.94%/yr for GOOD. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

BNL vs. GOOD - Performance Comparison

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

Returns By Period

In the year-to-date period, BNL achieves a 18.15% return, which is significantly lower than GOOD's 21.00% return.

BNL

• 1D: 1.71%
• 1M: 2.85%
• YTD: 18.15%
• 6M: 19.73%
• 1Y: 34.83%
• 3Y*: 15.60%
• 5Y*: 3.32%
• 10Y*: —

GOOD

• 1D: -1.98%
• 1M: -2.35%
• YTD: 21.00%
• 6M: 19.99%
• 1Y: -5.77%
• 3Y*: 10.69%
• 5Y*: -2.94%
• 10Y*: 5.30%

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

BNL vs. GOOD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BNL Broadstone Net Lease, Inc.	18.15%	17.27%	-1.08%	14.00%	-30.75%	42.88%
GOOD Gladstone Commercial Corporation	21.00%	-28.11%	33.25%	-21.63%	-22.52%	39.58%

Correlation

The correlation between BNL and GOOD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Mar 23, 2021	0.58

The correlation between BNL and GOOD shifts across timeframes, from 0.44 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS BNL : $0.41 GOOD : $0.60
PE Ratio BNL : 48.88 GOOD : 20.60
PS Ratio BNL : 8.54 GOOD : 2.63
Total Revenue (TTM) BNL : $468.77M GOOD : $165.74M
Gross Profit (TTM) BNL : $80.71M GOOD : -$19.45M
EBITDA (TTM) BNL : $332.30M GOOD : $45.52M

Return for Risk

BNL vs. GOOD — Risk / Return Rank

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

BNL

BNL Risk / Return Rank: 86
BNL Sharpe Ratio Rank: 86
BNL Sortino Ratio Rank: 84
BNL Omega Ratio Rank: 82
BNL Calmar Ratio Rank: 88
BNL Martin Ratio Rank: 88

GOOD

GOOD Risk / Return Rank: 29
GOOD Sharpe Ratio Rank: 29
GOOD Sortino Ratio Rank: 25
GOOD Omega Ratio Rank: 25
GOOD Calmar Ratio Rank: 33
GOOD Martin Ratio Rank: 33

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. GOOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Broadstone Net Lease, Inc. (BNL) and Gladstone Commercial Corporation (GOOD). 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	GOOD	Difference
Sharpe ratio Return per unit of total volatility	1.93	-0.27	+2.20
Sortino ratio Return per unit of downside risk	2.63	-0.23	+2.87
Omega ratio Gain probability vs. loss probability	1.33	0.97	+0.36
Calmar ratio Return relative to maximum drawdown	4.29	-0.22	+4.51
Martin ratio Return relative to average drawdown	10.75	-0.39	+11.15
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. GOOD - Sharpe Ratio Comparison

The current BNL Sharpe Ratio is 1.93, which is higher than the GOOD Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of BNL and GOOD, 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	GOOD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	-0.27	+2.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	-0.12	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.22	+0.16

Drawdowns

BNL vs. GOOD - Drawdown Comparison

The maximum BNL drawdown since its inception was -43.56%, smaller than the maximum GOOD drawdown of -67.22%. Use the drawdown chart below to compare losses from any high point for BNL and GOOD.

Drawdown Indicators

	BNL	GOOD	Difference
Max Drawdown Largest peak-to-trough decline	-43.56%	-67.22%	+23.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-25.87%	+17.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.51%	-35.29%	+15.78%
Max Drawdown (5Y) Largest decline over 5 years	-43.56%	-53.30%	+9.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.25%	—
Current Drawdown Current decline from peak	-2.04%	-29.61%	+27.57%
Average Drawdown Average peak-to-trough decline	-22.75%	-13.42%	-9.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	14.70%	-11.37%

Volatility

BNL vs. GOOD - Volatility Comparison

The current volatility for Broadstone Net Lease, Inc. (BNL) is 4.48%, while Gladstone Commercial Corporation (GOOD) has a volatility of 7.93%. This indicates that BNL experiences smaller price fluctuations and is considered to be less risky than GOOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNL	GOOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	7.93%	-3.45%
Volatility (6M) Calculated over the trailing 6-month period	12.84%	15.71%	-2.87%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	21.66%	-3.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.18%	25.04%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.06%	32.15%	-9.09%

Dividends

BNL vs. GOOD - Dividend Comparison

BNL's dividend yield for the trailing twelve months is around 5.75%, less than GOOD's 9.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNL Broadstone Net Lease, Inc.	5.75%	6.68%	7.28%	6.50%	6.66%	4.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GOOD Gladstone Commercial Corporation	9.69%	11.25%	7.39%	9.06%	8.13%	5.83%	8.34%	6.86%	8.37%	7.12%	7.46%	10.28%

Financials

BNL vs. GOOD - Profitability Comparison

The chart below illustrates the profitability comparison between Broadstone Net Lease, Inc. and Gladstone Commercial Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BNL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Broadstone Net Lease, Inc. reported a gross profit of 0.00 and revenue of 121.40M. Therefore, the gross margin over that period was 0.0%.

GOOD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Gladstone Commercial Corporation reported a gross profit of 0.00 and revenue of 41.91M. Therefore, the gross margin over that period was 0.0%.

BNL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Broadstone Net Lease, Inc. reported an operating income of 0.00 and revenue of 121.40M, resulting in an operating margin of 0.0%.

GOOD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Gladstone Commercial Corporation reported an operating income of 0.00 and revenue of 41.91M, resulting in an operating margin of 0.0%.

BNL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Broadstone Net Lease, Inc. reported a net income of -27.00K and revenue of 121.40M, resulting in a net margin of -0.0%.

GOOD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Gladstone Commercial Corporation reported a net income of 6.97M and revenue of 41.91M, resulting in a net margin of 16.6%.

Frequently Asked Questions

Can I hold both BNL and GOOD in my portfolio?

BNL and GOOD have a correlation of 0.44, 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 GOOD?

GOOD has higher volatility (7.93%) compared to BNL (4.48%). In terms of maximum drawdown, BNL dropped -43.56% vs GOOD's -67.22%.

Which has better risk-adjusted returns?

BNL currently has the higher Sharpe Ratio (1.93 vs -0.27), 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.