FAF vs. FNF

Last updated Jun 4, 2026

FAF (First American Financial Corporation) and FNF (Fidelity National Financial, Inc.) are both stocks. Both operate in the Insurance - Specialty industry within the Financial Services sector. Over the past 10 years, FAF returned 8.95%/yr vs 10.84%/yr for FNF. A 0.70 correlation means they provide meaningful diversification when combined.

Performance

FAF vs. FNF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First American Financial Corporation (FAF) and Fidelity National Financial, Inc. (FNF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAF achieves a 5.97% return, which is significantly higher than FNF's -15.88% return. Over the past 10 years, FAF has underperformed FNF with an annualized return of 8.95%, while FNF has yielded a comparatively higher 10.84% annualized return.

FAF

• 1D: -0.95%
• 1M: -5.46%
• YTD: 5.97%
• 6M: 1.39%
• 1Y: 19.90%
• 3Y*: 8.04%
• 5Y*: 3.49%
• 10Y*: 8.95%

FNF

• 1D: -2.20%
• 1M: -11.12%
• YTD: -15.88%
• 6M: -17.42%
• 1Y: -10.54%
• 3Y*: 14.55%
• 5Y*: 4.85%
• 10Y*: 10.84%

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

FAF vs. FNF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAF First American Financial Corporation	5.97%	1.90%	0.36%	27.66%	-30.62%	56.18%	-8.55%	34.63%	-17.89%	57.91%
FNF Fidelity National Financial, Inc.	-15.88%	4.35%	14.02%	42.18%	-21.64%	38.04%	-10.34%	48.75%	-17.22%	65.53%

Correlation

The correlation between FAF and FNF is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 1, 2010	0.70

The correlation between FAF and FNF has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.

Fundamentals

Market Cap FAF : $6.67B FNF : $12.22B
EPS FAF : $6.49 FNF : $2.81
PE Ratio FAF : 9.94 FNF : 16.17
PS Ratio FAF : 0.87 FNF : 0.83
PB Ratio FAF : 1.22 FNF : 1.40
Total Revenue (TTM) FAF : $7.71B FNF : $14.81B
Gross Profit (TTM) FAF : $4.40B FNF : $7.82B
EBITDA (TTM) FAF : $1.02B FNF : $2.12B

Return for Risk

FAF vs. FNF — Risk / Return Rank

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

FAF

FAF Risk / Return Rank: 61
FAF Sharpe Ratio Rank: 64
FAF Sortino Ratio Rank: 56
FAF Omega Ratio Rank: 55
FAF Calmar Ratio Rank: 63
FAF Martin Ratio Rank: 66

FNF

FNF Risk / Return Rank: 21
FNF Sharpe Ratio Rank: 23
FNF Sortino Ratio Rank: 21
FNF Omega Ratio Rank: 21
FNF Calmar Ratio Rank: 26
FNF Martin Ratio Rank: 16

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.

FAF vs. FNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First American Financial Corporation (FAF) and Fidelity National Financial, Inc. (FNF). 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.

	FAF	FNF	Difference
Sharpe ratio Return per unit of total volatility	0.72	-0.41	+1.14
Sortino ratio Return per unit of downside risk	1.11	-0.41	+1.51
Omega ratio Gain probability vs. loss probability	1.14	0.95	+0.19
Calmar ratio Return relative to maximum drawdown	1.08	-0.43	+1.52
Martin ratio Return relative to average drawdown	2.99	-1.14	+4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAF vs. FNF - Sharpe Ratio Comparison

The current FAF Sharpe Ratio is 0.72, which is higher than the FNF Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of FAF and FNF, 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

	FAF	FNF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	-0.41	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.19	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.39	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.25	+0.13

Drawdowns

FAF vs. FNF - Drawdown Comparison

The maximum FAF drawdown since its inception was -50.13%, smaller than the maximum FNF drawdown of -72.49%. Use the drawdown chart below to compare losses from any high point for FAF and FNF.

Drawdown Indicators

	FAF	FNF	Difference
Max Drawdown Largest peak-to-trough decline	-50.13%	-72.49%	+22.36%
Max Drawdown (1Y) Largest decline over 1 year	-18.46%	-24.43%	+5.97%
Max Drawdown (3Y) Largest decline over 3 years	-22.13%	-30.06%	+7.93%
Max Drawdown (5Y) Largest decline over 5 years	-43.65%	-36.69%	-6.96%
Max Drawdown (10Y) Largest decline over 10 years	-50.13%	-56.21%	+6.08%
Current Drawdown Current decline from peak	-9.20%	-26.57%	+17.37%
Average Drawdown Average peak-to-trough decline	-13.26%	-17.12%	+3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.68%	9.29%	-2.61%

Volatility

FAF vs. FNF - Volatility Comparison

The current volatility for First American Financial Corporation (FAF) is 6.67%, while Fidelity National Financial, Inc. (FNF) has a volatility of 7.10%. This indicates that FAF experiences smaller price fluctuations and is considered to be less risky than FNF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAF	FNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.67%	7.10%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	21.26%	19.40%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	27.64%	25.73%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.99%	26.07%	+0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.62%	28.11%	+0.51%

Dividends

FAF vs. FNF - Dividend Comparison

FAF's dividend yield for the trailing twelve months is around 3.39%, less than FNF's 4.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAF First American Financial Corporation	3.39%	3.55%	3.43%	3.26%	3.94%	2.48%	3.45%	2.88%	3.58%	2.57%	3.28%	2.79%
FNF Fidelity National Financial, Inc.	4.41%	3.60%	3.46%	3.59%	4.57%	2.99%	3.45%	2.78%	3.82%	37.01%	2.59%	2.31%

Financials

FAF vs. FNF - Profitability Comparison

The chart below illustrates the profitability comparison between First American Financial Corporation and Fidelity National Financial, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FAF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First American Financial Corporation reported a gross profit of 0.00 and revenue of 1.84B. Therefore, the gross margin over that period was 0.0%.

FNF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fidelity National Financial, Inc. reported a gross profit of 0.00 and revenue of 3.23B. Therefore, the gross margin over that period was 0.0%.

FAF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First American Financial Corporation reported an operating income of 0.00 and revenue of 1.84B, resulting in an operating margin of 0.0%.

FNF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fidelity National Financial, Inc. reported an operating income of 0.00 and revenue of 3.23B, resulting in an operating margin of 0.0%.

FAF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First American Financial Corporation reported a net income of 125.10M and revenue of 1.84B, resulting in a net margin of 6.8%.

FNF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fidelity National Financial, Inc. reported a net income of 243.00M and revenue of 3.23B, resulting in a net margin of 7.5%.

Frequently Asked Questions

Can I hold both FAF and FNF in my portfolio?

FAF and FNF have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAF or FNF?

FNF has higher volatility (7.10%) compared to FAF (6.67%). In terms of maximum drawdown, FAF dropped -50.13% vs FNF's -72.49%.

Which has better risk-adjusted returns?

FAF currently has the higher Sharpe Ratio (0.72 vs -0.41), 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.