CHCT vs. REFI

Last updated Jun 3, 2026

CHCT (Community Healthcare Trust Incorporated) and REFI (Chicago Atlantic Real Estate Finance, Inc.) are both stocks. Both are in the Real Estate sector — CHCT in REIT - Healthcare Facilities, REFI in REIT - Mortgage. Over the past 3 years, CHCT returned -11.59%/yr vs 4.70%/yr for REFI. At a 0.33 correlation, their price movements are largely independent.

Performance

CHCT vs. REFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Community Healthcare Trust Incorporated (CHCT) and Chicago Atlantic Real Estate Finance, Inc. (REFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHCT achieves a 12.28% return, which is significantly higher than REFI's -4.13% return.

CHCT

• 1D: 1.04%
• 1M: 1.76%
• YTD: 12.28%
• 6M: 17.05%
• 1Y: 20.04%
• 3Y*: -11.59%
• 5Y*: -11.80%
• 10Y*: 5.33%

REFI

• 1D: 0.18%
• 1M: -6.08%
• YTD: -4.13%
• 6M: -2.29%
• 1Y: -8.83%
• 3Y*: 4.70%
• 5Y*: —
• 10Y*: —

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

CHCT vs. REFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CHCT Community Healthcare Trust Incorporated	12.28%	-3.87%	-21.48%	-21.51%	-20.70%	4.26%
REFI Chicago Atlantic Real Estate Finance, Inc.	-4.13%	-8.70%	8.69%	23.70%	3.35%	0.97%

Correlation

The correlation between CHCT and REFI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.33

The correlation between CHCT and REFI shifts across timeframes, from 0.33 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CHCT : $470.45M REFI : $242.34M
EPS CHCT : $0.23 REFI : $226.63
PE Ratio CHCT : 77.37 REFI : 0.05
PS Ratio CHCT : 3.84 REFI : 5.46
PB Ratio CHCT : 1.12 REFI : 0.00
Total Revenue (TTM) CHCT : $122.11M REFI : $44.35M
Gross Profit (TTM) CHCT : $76.59M REFI : $42.41M
EBITDA (TTM) CHCT : $88.98M REFI : $8.16M

Return for Risk

CHCT vs. REFI — Risk / Return Rank

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

CHCT

CHCT Risk / Return Rank: 61
CHCT Sharpe Ratio Rank: 66
CHCT Sortino Ratio Rank: 58
CHCT Omega Ratio Rank: 57
CHCT Calmar Ratio Rank: 60
CHCT Martin Ratio Rank: 63

REFI

REFI Risk / Return Rank: 18
REFI Sharpe Ratio Rank: 24
REFI Sortino Ratio Rank: 21
REFI Omega Ratio Rank: 22
REFI Calmar Ratio Rank: 15
REFI Martin Ratio Rank: 10

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.

CHCT vs. REFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Community Healthcare Trust Incorporated (CHCT) and Chicago Atlantic Real Estate Finance, Inc. (REFI). 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.

	CHCT	REFI	Difference
Sharpe ratio Return per unit of total volatility	0.82	-0.38	+1.20
Sortino ratio Return per unit of downside risk	1.22	-0.38	+1.60
Omega ratio Gain probability vs. loss probability	1.15	0.95	+0.20
Calmar ratio Return relative to maximum drawdown	0.94	-0.69	+1.63
Martin ratio Return relative to average drawdown	2.48	-1.30	+3.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHCT vs. REFI - Sharpe Ratio Comparison

The current CHCT Sharpe Ratio is 0.82, which is higher than the REFI Sharpe Ratio of -0.38. The chart below compares the historical Sharpe Ratios of CHCT and REFI, 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

	CHCT	REFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	-0.38	+1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.19	-0.03

Drawdowns

CHCT vs. REFI - Drawdown Comparison

The maximum CHCT drawdown since its inception was -65.70%, which is greater than REFI's maximum drawdown of -26.55%. Use the drawdown chart below to compare losses from any high point for CHCT and REFI.

Drawdown Indicators

	CHCT	REFI	Difference
Max Drawdown Largest peak-to-trough decline	-65.70%	-26.55%	-39.15%
Max Drawdown (1Y) Largest decline over 1 year	-21.54%	-14.71%	-6.83%
Max Drawdown (3Y) Largest decline over 3 years	-55.67%	-19.25%	-36.42%
Max Drawdown (5Y) Largest decline over 5 years	-65.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-65.70%	—	—
Current Drawdown Current decline from peak	-50.92%	-16.89%	-34.03%
Average Drawdown Average peak-to-trough decline	-20.31%	-9.87%	-10.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.16%	7.83%	+0.33%

Volatility

CHCT vs. REFI - Volatility Comparison

The current volatility for Community Healthcare Trust Incorporated (CHCT) is 6.20%, while Chicago Atlantic Real Estate Finance, Inc. (REFI) has a volatility of 8.00%. This indicates that CHCT experiences smaller price fluctuations and is considered to be less risky than REFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHCT	REFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	8.00%	-1.80%
Volatility (6M) Calculated over the trailing 6-month period	16.03%	16.79%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	24.69%	23.38%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.08%	24.31%	+3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.49%	24.31%	+10.18%

Dividends

CHCT vs. REFI - Dividend Comparison

CHCT's dividend yield for the trailing twelve months is around 10.93%, less than REFI's 16.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHCT Community Healthcare Trust Incorporated	10.93%	11.48%	9.60%	6.78%	4.93%	3.65%	3.58%	3.84%	5.57%	5.57%	6.62%	2.81%
REFI Chicago Atlantic Real Estate Finance, Inc.	16.67%	15.33%	13.36%	13.41%	13.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both CHCT and REFI in my portfolio?

CHCT and REFI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHCT or REFI?

REFI has higher volatility (8.00%) compared to CHCT (6.20%). In terms of maximum drawdown, CHCT dropped -65.70% vs REFI's -26.55%.

Which has better risk-adjusted returns?

CHCT currently has the higher Sharpe Ratio (0.82 vs -0.38), 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.