FMAO vs. AGM

Last updated Jun 3, 2026

FMAO (Farmers & Merchants Bancorp, Inc.) and AGM (Federal Agricultural Mortgage Corporation) are both stocks. Both are in the Financial Services sector — FMAO in Banks - Regional, AGM in Credit Services. Over the past 10 years, FMAO returned 10.02%/yr vs 21.44%/yr for AGM. At a 0.18 correlation, their price movements are largely independent.

Performance

FMAO vs. AGM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Farmers & Merchants Bancorp, Inc. (FMAO) and Federal Agricultural Mortgage Corporation (AGM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMAO achieves a 14.49% return, which is significantly higher than AGM's 4.22% return. Over the past 10 years, FMAO has underperformed AGM with an annualized return of 10.02%, while AGM has yielded a comparatively higher 21.44% annualized return.

FMAO

• 1D: 2.37%
• 1M: 2.94%
• YTD: 14.49%
• 6M: 17.07%
• 1Y: 26.35%
• 3Y*: 11.45%
• 5Y*: 8.22%
• 10Y*: 10.02%

AGM

• 1D: 1.51%
• 1M: 3.61%
• YTD: 4.22%
• 6M: 5.88%
• 1Y: 0.54%
• 3Y*: 12.13%
• 5Y*: 15.87%
• 10Y*: 21.44%

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

FMAO vs. AGM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMAO Farmers & Merchants Bancorp, Inc.	14.49%	-12.98%	23.07%	-5.27%	-14.95%	46.86%	-21.39%	-19.94%	-4.39%	137.14%
AGM Federal Agricultural Mortgage Corporation	4.22%	-7.96%	6.08%	74.61%	-5.83%	72.62%	-6.60%	43.16%	-20.38%	39.64%

Correlation

The correlation between FMAO and AGM is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Nov 24, 2004	0.18

Over the past year, FMAO and AGM have become more correlated (0.39) than their long-term average of 0.18, meaning their price movements have been converging.

Fundamentals

EPS FMAO : $3.52 AGM : $24.06
PE Ratio FMAO : 7.98 AGM : 7.53
PEG Ratio FMAO : 0.38 AGM : 0.56
PS Ratio FMAO : 2.00 AGM : 1.17
Total Revenue (TTM) FMAO : $143.52M AGM : $1.35B
Gross Profit (TTM) FMAO : $89.83M AGM : $295.93M
EBITDA (TTM) FMAO : $37.49M AGM : $192.59M

Return for Risk

FMAO vs. AGM — Risk / Return Rank

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

FMAO

FMAO Risk / Return Rank: 61
FMAO Sharpe Ratio Rank: 64
FMAO Sortino Ratio Rank: 59
FMAO Omega Ratio Rank: 56
FMAO Calmar Ratio Rank: 64
FMAO Martin Ratio Rank: 62

AGM

AGM Risk / Return Rank: 38
AGM Sharpe Ratio Rank: 41
AGM Sortino Ratio Rank: 35
AGM Omega Ratio Rank: 35
AGM Calmar Ratio Rank: 40
AGM Martin Ratio Rank: 39

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.

FMAO vs. AGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Farmers & Merchants Bancorp, Inc. (FMAO) and Federal Agricultural Mortgage Corporation (AGM). 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.

	FMAO	AGM	Difference
Sharpe ratio Return per unit of total volatility	0.74	0.02	+0.72
Sortino ratio Return per unit of downside risk	1.27	0.23	+1.04
Omega ratio Gain probability vs. loss probability	1.15	1.03	+0.12
Calmar ratio Return relative to maximum drawdown	1.23	0.02	+1.21
Martin ratio Return relative to average drawdown	2.35	0.03	+2.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMAO vs. AGM - Sharpe Ratio Comparison

The current FMAO Sharpe Ratio is 0.74, which is higher than the AGM Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of FMAO and AGM, 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

	FMAO	AGM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	0.02	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.53	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.62	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.32	-0.33

Drawdowns

FMAO vs. AGM - Drawdown Comparison

The maximum FMAO drawdown since its inception was -84.94%, smaller than the maximum AGM drawdown of -94.63%. Use the drawdown chart below to compare losses from any high point for FMAO and AGM.

Drawdown Indicators

	FMAO	AGM	Difference
Max Drawdown Largest peak-to-trough decline	-84.94%	-94.63%	+9.69%
Max Drawdown (1Y) Largest decline over 1 year	-17.92%	-31.94%	+14.02%
Max Drawdown (3Y) Largest decline over 3 years	-34.97%	-32.54%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	-57.16%	-32.54%	-24.62%
Max Drawdown (10Y) Largest decline over 10 years	-62.88%	-53.30%	-9.58%
Current Drawdown Current decline from peak	-26.64%	-12.14%	-14.50%
Average Drawdown Average peak-to-trough decline	-54.18%	-27.87%	-26.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.38%	16.79%	-7.41%

Volatility

FMAO vs. AGM - Volatility Comparison

The current volatility for Farmers & Merchants Bancorp, Inc. (FMAO) is 7.38%, while Federal Agricultural Mortgage Corporation (AGM) has a volatility of 8.93%. This indicates that FMAO experiences smaller price fluctuations and is considered to be less risky than AGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMAO	AGM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	8.93%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	23.24%	24.41%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	36.17%	31.77%	+4.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.22%	29.83%	+10.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.18%	34.49%	+9.69%

Dividends

FMAO vs. AGM - Dividend Comparison

FMAO's dividend yield for the trailing twelve months is around 3.24%, less than AGM's 3.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGM Federal Agricultural Mortgage Corporation	3.37%	3.42%	2.84%	2.30%	3.37%	2.84%	4.31%	3.35%	3.84%	1.84%	1.82%	2.03%
FMAO Farmers & Merchants Bancorp, Inc.	3.24%	3.64%	3.00%	3.43%	2.99%	2.16%	2.87%	2.02%	1.45%	1.23%	2.60%	3.23%

Financials

Frequently Asked Questions

Can I hold both FMAO and AGM in my portfolio?

FMAO and AGM have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMAO or AGM?

AGM has higher volatility (8.93%) compared to FMAO (7.38%). In terms of maximum drawdown, FMAO dropped -84.94% vs AGM's -94.63%.

Which has better risk-adjusted returns?

FMAO currently has the higher Sharpe Ratio (0.74 vs 0.02), 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.