GLAD vs. FPI

Last updated Jun 3, 2026

GLAD (Gladstone Capital Corporation) and FPI (Farmland Partners Inc.) are both stocks. GLAD operates in Asset Management (Financial Services), while FPI operates in REIT - Specialty (Real Estate). Over the past 10 years, GLAD returned 12.75%/yr vs 3.61%/yr for FPI. At a 0.26 correlation, their price movements are largely independent.

Performance

GLAD vs. FPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gladstone Capital Corporation (GLAD) and Farmland Partners Inc. (FPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLAD achieves a -1.91% return, which is significantly lower than FPI's 8.66% return. Over the past 10 years, GLAD has outperformed FPI with an annualized return of 12.75%, while FPI has yielded a comparatively lower 3.61% annualized return.

GLAD

• 1D: -0.41%
• 1M: 1.90%
• YTD: -1.91%
• 6M: -2.47%
• 1Y: -19.16%
• 3Y*: 11.05%
• 5Y*: 5.33%
• 10Y*: 12.75%

FPI

• 1D: 0.78%
• 1M: -3.08%
• YTD: 8.66%
• 6M: 9.30%
• 1Y: -5.23%
• 3Y*: 2.61%
• 5Y*: 0.02%
• 10Y*: 3.61%

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

GLAD vs. FPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLAD Gladstone Capital Corporation	-1.91%	-21.14%	46.99%	22.71%	-10.43%	40.50%	-0.69%	48.58%	-13.07%	7.05%
FPI Farmland Partners Inc.	8.66%	-14.11%	5.66%	3.99%	6.09%	39.70%	32.09%	53.84%	-45.13%	-17.84%

Correlation

The correlation between GLAD and FPI is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Apr 14, 2014	0.26

The correlation between GLAD and FPI shifts across timeframes, from 0.18 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap GLAD : $552.26M FPI : $448.38M
EPS GLAD : $1.09 FPI : $0.63
PE Ratio GLAD : 17.94 FPI : 16.51
PEG Ratio GLAD : 1.04 FPI : 0.25
PS Ratio GLAD : 7.52 FPI : 9.25
PB Ratio GLAD : 1.14 FPI : 0.97
Total Revenue (TTM) GLAD : $66.59M FPI : $53.83M
Gross Profit (TTM) GLAD : $28.95M FPI : $42.39M
EBITDA (TTM) GLAD : $27.90M FPI : $36.98M

Return for Risk

GLAD vs. FPI — Risk / Return Rank

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

GLAD

GLAD Risk / Return Rank: 16
GLAD Sharpe Ratio Rank: 9
GLAD Sortino Ratio Rank: 11
GLAD Omega Ratio Rank: 12
GLAD Calmar Ratio Rank: 23
GLAD Martin Ratio Rank: 25

FPI

FPI Risk / Return Rank: 30
FPI Sharpe Ratio Rank: 31
FPI Sortino Ratio Rank: 26
FPI Omega Ratio Rank: 26
FPI Calmar Ratio Rank: 34
FPI Martin Ratio Rank: 33

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.

GLAD vs. FPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gladstone Capital Corporation (GLAD) and Farmland Partners Inc. (FPI). 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.

	GLAD	FPI	Difference
Sharpe ratio Return per unit of total volatility	-0.77	-0.23	-0.53
Sortino ratio Return per unit of downside risk	-0.94	-0.16	-0.78
Omega ratio Gain probability vs. loss probability	0.88	0.98	-0.10
Calmar ratio Return relative to maximum drawdown	-0.51	-0.19	-0.32
Martin ratio Return relative to average drawdown	-0.80	-0.37	-0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLAD vs. FPI - Sharpe Ratio Comparison

The current GLAD Sharpe Ratio is -0.77, which is lower than the FPI Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of GLAD and FPI, 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

	GLAD	FPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.77	-0.23	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.00	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.10	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.07	+0.11

Drawdowns

GLAD vs. FPI - Drawdown Comparison

The maximum GLAD drawdown since its inception was -74.87%, which is greater than FPI's maximum drawdown of -59.77%. Use the drawdown chart below to compare losses from any high point for GLAD and FPI.

Drawdown Indicators

	GLAD	FPI	Difference
Max Drawdown Largest peak-to-trough decline	-74.87%	-59.77%	-15.10%
Max Drawdown (1Y) Largest decline over 1 year	-39.22%	-21.46%	-17.76%
Max Drawdown (3Y) Largest decline over 3 years	-39.59%	-23.64%	-15.95%
Max Drawdown (5Y) Largest decline over 5 years	-39.59%	-39.88%	+0.29%
Max Drawdown (10Y) Largest decline over 10 years	-58.37%	-57.44%	-0.93%
Current Drawdown Current decline from peak	-27.77%	-20.48%	-7.29%
Average Drawdown Average peak-to-trough decline	-18.70%	-23.62%	+4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.08%	11.08%	+14.00%

Volatility

GLAD vs. FPI - Volatility Comparison

Gladstone Capital Corporation (GLAD) has a higher volatility of 6.62% compared to Farmland Partners Inc. (FPI) at 5.39%. This indicates that GLAD's price experiences larger fluctuations and is considered to be riskier than FPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLAD	FPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.62%	5.39%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	18.49%	18.18%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	25.13%	22.72%	+2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.62%	28.34%	-4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.01%	35.64%	-5.63%

Dividends

GLAD vs. FPI - Dividend Comparison

GLAD's dividend yield for the trailing twelve months is around 10.07%, more than FPI's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPI Farmland Partners Inc.	4.53%	4.54%	11.31%	3.61%	1.85%	1.67%	2.30%	2.95%	7.82%	5.88%	4.57%	4.54%
GLAD Gladstone Capital Corporation	10.07%	9.85%	8.37%	9.16%	8.42%	6.73%	8.97%	8.46%	11.51%	9.12%	8.95%	11.49%

Financials

GLAD vs. FPI - Profitability Comparison

The chart below illustrates the profitability comparison between Gladstone Capital Corporation and Farmland Partners Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

GLAD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Gladstone Capital Corporation reported a gross profit of 0.00 and revenue of 21.49M. Therefore, the gross margin over that period was 0.0%.

FPI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Farmland Partners Inc. reported a gross profit of 8.63M and revenue of 10.10M. Therefore, the gross margin over that period was 85.5%.

GLAD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Gladstone Capital Corporation reported an operating income of 0.00 and revenue of 21.49M, resulting in an operating margin of 0.0%.

FPI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Farmland Partners Inc. reported an operating income of 3.57M and revenue of 10.10M, resulting in an operating margin of 35.4%.

GLAD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Gladstone Capital Corporation reported a net income of 0.00 and revenue of 21.49M, resulting in a net margin of 0.0%.

FPI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Farmland Partners Inc. reported a net income of 640.00K and revenue of 10.10M, resulting in a net margin of 6.3%.

Frequently Asked Questions

Can I hold both GLAD and FPI in my portfolio?

GLAD and FPI have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLAD or FPI?

GLAD has higher volatility (6.62%) compared to FPI (5.39%). In terms of maximum drawdown, GLAD dropped -74.87% vs FPI's -59.77%.

Which has better risk-adjusted returns?

FPI currently has the higher Sharpe Ratio (-0.23 vs -0.77), 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.