BRSP vs. BBDC

Last updated Jun 4, 2026

BRSP (BrightSpire Capital, Inc.) and BBDC (Barings BDC, Inc.) are both stocks. BRSP operates in REIT - Diversified (Real Estate), while BBDC operates in Credit Services (Financial Services). Over the past 5 years, BRSP returned -0.22%/yr vs 6.19%/yr for BBDC. At a 0.39 correlation, their price movements are largely independent.

Performance

BRSP vs. BBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrightSpire Capital, Inc. (BRSP) and Barings BDC, Inc. (BBDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRSP achieves a 1.10% return, which is significantly higher than BBDC's -4.95% return.

BRSP

• 1D: -1.43%
• 1M: -5.50%
• YTD: 1.10%
• 6M: 1.28%
• 1Y: 19.86%
• 3Y*: 7.73%
• 5Y*: -0.22%
• 10Y*: —

BBDC

• 1D: -3.41%
• 1M: -8.43%
• YTD: -4.95%
• 6M: -0.05%
• 1Y: 3.44%
• 3Y*: 14.74%
• 5Y*: 6.19%
• 10Y*: —

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

BRSP vs. BBDC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BRSP BrightSpire Capital, Inc.	1.10%	11.61%	-14.45%	34.92%	-32.42%	45.52%	-40.97%	-6.95%	-21.90%
BBDC Barings BDC, Inc.	-4.95%	8.84%	23.86%	18.53%	-18.59%	29.31%	-3.48%	20.40%	-13.52%

Correlation

The correlation between BRSP and BBDC is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 6, 2018	0.39

Fundamentals

Market Cap BRSP : $709.07M BBDC : $859.64M
EPS BRSP : -$0.25 BBDC : $0.66
PS Ratio BRSP : 2.83 BBDC : 4.95
PB Ratio BRSP : 0.77 BBDC : 0.75
Total Revenue (TTM) BRSP : $248.92M BBDC : $174.30M
Gross Profit (TTM) BRSP : $107.84M BBDC : $149.47M
EBITDA (TTM) BRSP : -$13.14M BBDC : $90.27M

Return for Risk

BRSP vs. BBDC — Risk / Return Rank

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

BRSP

BRSP Risk / Return Rank: 66
BRSP Sharpe Ratio Rank: 69
BRSP Sortino Ratio Rank: 63
BRSP Omega Ratio Rank: 60
BRSP Calmar Ratio Rank: 71
BRSP Martin Ratio Rank: 70

BBDC

BBDC Risk / Return Rank: 44
BBDC Sharpe Ratio Rank: 47
BBDC Sortino Ratio Rank: 39
BBDC Omega Ratio Rank: 38
BBDC Calmar Ratio Rank: 47
BBDC Martin Ratio Rank: 47

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.

BRSP vs. BBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrightSpire Capital, Inc. (BRSP) and Barings BDC, Inc. (BBDC). 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.

	BRSP	BBDC	Difference
Sharpe ratio Return per unit of total volatility	0.89	0.19	+0.71
Sortino ratio Return per unit of downside risk	1.37	0.39	+0.98
Omega ratio Gain probability vs. loss probability	1.16	1.05	+0.12
Calmar ratio Return relative to maximum drawdown	1.65	0.28	+1.36
Martin ratio Return relative to average drawdown	3.94	0.63	+3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRSP vs. BBDC - Sharpe Ratio Comparison

The current BRSP Sharpe Ratio is 0.89, which is higher than the BBDC Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of BRSP and BBDC, 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

	BRSP	BBDC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	0.19	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	0.32	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	0.26	-0.38

Drawdowns

BRSP vs. BBDC - Drawdown Comparison

The maximum BRSP drawdown since its inception was -85.71%, which is greater than BBDC's maximum drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for BRSP and BBDC.

Drawdown Indicators

	BRSP	BBDC	Difference
Max Drawdown Largest peak-to-trough decline	-85.71%	-48.45%	-37.26%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-12.28%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-35.31%	-24.51%	-10.80%
Max Drawdown (5Y) Largest decline over 5 years	-41.28%	-27.55%	-13.73%
Current Drawdown Current decline from peak	-50.19%	-8.43%	-41.76%
Average Drawdown Average peak-to-trough decline	-47.04%	-7.99%	-39.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.05%	5.49%	-0.44%

Volatility

BRSP vs. BBDC - Volatility Comparison

The current volatility for BrightSpire Capital, Inc. (BRSP) is 5.70%, while Barings BDC, Inc. (BBDC) has a volatility of 6.82%. This indicates that BRSP experiences smaller price fluctuations and is considered to be less risky than BBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRSP	BBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	6.82%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	15.44%	14.82%	+0.62%
Volatility (1Y) Calculated over the trailing 1-year period	22.45%	18.50%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.99%	19.35%	+13.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.55%	24.18%	+27.37%

Dividends

BRSP vs. BBDC - Dividend Comparison

BRSP's dividend yield for the trailing twelve months is around 11.64%, less than BBDC's 17.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBDC Barings BDC, Inc.	17.05%	12.96%	10.87%	11.89%	11.66%	7.44%	7.07%	5.25%	21.24%
BRSP BrightSpire Capital, Inc.	11.64%	11.43%	12.77%	10.75%	12.68%	5.65%	4.00%	12.54%	10.10%

Financials

Frequently Asked Questions

Can I hold both BRSP and BBDC in my portfolio?

BRSP and BBDC have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRSP or BBDC?

BBDC has higher volatility (6.82%) compared to BRSP (5.70%). In terms of maximum drawdown, BRSP dropped -85.71% vs BBDC's -48.45%.

Which has better risk-adjusted returns?

BRSP currently has the higher Sharpe Ratio (0.89 vs 0.19), 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.