BRSP vs. BXMT

Last updated Jun 23, 2026

BRSP (BrightSpire Capital, Inc.) and BXMT (Blackstone Mortgage Trust, Inc.) are both stocks. Both are in the Real Estate sector — BRSP in REIT - Diversified, BXMT in REIT - Mortgage. Over the past 5 years, BRSP returned -1.35%/yr vs -1.39%/yr for BXMT. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

BRSP vs. BXMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrightSpire Capital, Inc. (BRSP) and Blackstone Mortgage Trust, Inc. (BXMT). 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 BXMT's -3.50% return.

BRSP

• 1D: -0.72%
• 1M: -3.00%
• YTD: 1.10%
• 6M: -0.96%
• 1Y: 18.93%
• 3Y*: 6.94%
• 5Y*: -1.35%
• 10Y*: —

BXMT

• 1D: -0.44%
• 1M: 0.33%
• YTD: -3.50%
• 6M: -5.50%
• 1Y: 2.79%
• 3Y*: 8.78%
• 5Y*: -1.39%
• 10Y*: 5.17%

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

BRSP vs. BXMT - 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%	-15.98%
BXMT Blackstone Mortgage Trust, Inc.	-3.50%	21.13%	-7.90%	13.46%	-24.03%	20.27%	-17.83%	25.16%	11.02%

Correlation

The correlation between BRSP and BXMT is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Feb 1, 2018	0.64

The correlation between BRSP and BXMT has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.

Fundamentals

Market Cap BRSP : $709.07M BXMT : $3.05B
EPS BRSP : -$0.25 BXMT : $0.61
PS Ratio BRSP : 2.83 BXMT : 2.00
PB Ratio BRSP : 0.77 BXMT : 0.89
Total Revenue (TTM) BRSP : $248.92M BXMT : $1.54B
Gross Profit (TTM) BRSP : $107.84M BXMT : $960.53M
EBITDA (TTM) BRSP : -$13.14M BXMT : $957.49M

Return for Risk

BRSP vs. BXMT — Risk / Return Rank

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

BRSP

BRSP Risk / Return Rank: 67
BRSP Sharpe Ratio Rank: 69
BRSP Sortino Ratio Rank: 62
BRSP Omega Ratio Rank: 60
BRSP Calmar Ratio Rank: 71
BRSP Martin Ratio Rank: 71

BXMT

BXMT Risk / Return Rank: 44
BXMT Sharpe Ratio Rank: 46
BXMT Sortino Ratio Rank: 39
BXMT Omega Ratio Rank: 38
BXMT Calmar Ratio Rank: 48
BXMT 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.

BRSP vs. BXMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrightSpire Capital, Inc. (BRSP) and Blackstone Mortgage Trust, Inc. (BXMT). 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.

	BRSP	BXMT	Difference
Sharpe ratio: Return per unit of total volatility	0.85	0.13	+0.72
Sortino ratio: Return per unit of downside risk	1.30	0.33	+0.96
Omega ratio: Gain probability vs. loss probability	1.16	1.04	+0.12
Calmar ratio: Return relative to maximum drawdown	1.57	0.23	+1.34
Martin ratio: Return relative to average drawdown	3.56	0.51	+3.05

BRSP vs. BXMT - Sharpe Ratio Comparison

The current BRSP Sharpe Ratio is 0.85, which is higher than the BXMT Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of BRSP and BXMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BRSP vs. BXMT - Drawdown Comparison

The maximum BRSP drawdown since its inception was -85.71%, smaller than the maximum BXMT drawdown of -97.98%. Use the drawdown chart below to compare losses from any high point for BRSP and BXMT.

Drawdown Indicators

	BRSP	BXMT	Difference
Max Drawdown Largest peak-to-trough decline	-85.71%	-97.98%	+12.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-12.02%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-35.31%	-23.29%	-12.02%
Max Drawdown (5Y) Largest decline over 5 years	-41.28%	-43.02%	+1.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-67.86%	—
Current Drawdown Current decline from peak	-50.19%	-35.22%	-14.97%
Average Drawdown Average peak-to-trough decline	-47.03%	-49.04%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.33%	5.52%	-0.19%

Volatility

BRSP vs. BXMT - Volatility Comparison

The current volatility for BrightSpire Capital, Inc. (BRSP) is 6.57%, while Blackstone Mortgage Trust, Inc. (BXMT) has a volatility of 7.09%. This indicates that BRSP experiences smaller price fluctuations and is considered to be less risky than BXMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRSP	BXMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	7.09%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	16.05%	16.77%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	22.51%	21.91%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.95%	27.74%	+5.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.42%	32.66%	+18.76%

Dividends

BRSP vs. BXMT - Dividend Comparison

BRSP's dividend yield for the trailing twelve months is around 11.64%, more than BXMT's 10.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRSP BrightSpire Capital, Inc.	11.64%	11.43%	12.77%	10.75%	12.68%	5.65%	4.00%	12.54%	10.10%	0.00%	0.00%	0.00%
BXMT Blackstone Mortgage Trust, Inc.	10.44%	9.83%	12.52%	11.66%	11.71%	8.10%	9.01%	6.66%	7.78%	7.71%	8.25%	8.52%

Financials

Frequently Asked Questions

Can I hold both BRSP and BXMT in my portfolio?

BRSP and BXMT have a correlation of 0.65, 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 BXMT?

BXMT has higher volatility (7.09%) compared to BRSP (6.57%). In terms of maximum drawdown, BRSP dropped -85.71% vs BXMT's -97.98%.

Which has better risk-adjusted returns?

BRSP currently has the higher Sharpe Ratio (0.85 vs 0.13), 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.