GLAD vs. SAR
GLAD (Gladstone Capital Corporation) and SAR (Saratoga Investment Corp.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, GLAD returned 12.05%/yr vs 11.54%/yr for SAR. At a 0.25 correlation, their price movements are largely independent.
Performance
GLAD vs. SAR - Performance Comparison
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Returns By Period
In the year-to-date period, GLAD achieves a 0.31% return, which is significantly higher than SAR's -12.72% return. Both investments have delivered pretty close results over the past 10 years, with GLAD having a 12.05% annualized return and SAR not far behind at 11.54%.
GLAD
- 1D
- 1.75%
- 1M
- 2.69%
- 6M
- -0.89%
- YTD
- 0.31%
- 1Y
- -23.91%
- 3Y*
- 8.80%
- 5Y*
- 5.89%
- 10Y*
- 12.05%
SAR
- 1D
- 4.13%
- 1M
- -18.11%
- 6M
- -14.20%
- YTD
- -12.72%
- 1Y
- -13.68%
- 3Y*
- 1.88%
- 5Y*
- 4.07%
- 10Y*
- 11.54%
GLAD vs. SAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLAD Gladstone Capital Corporation | 0.31% | -21.14% | 46.99% | 22.71% | -10.43% | 40.50% | -0.69% | 48.58% | -13.07% | 7.05% |
SAR Saratoga Investment Corp. | -12.72% | 10.36% | 6.07% | 12.91% | -3.82% | 51.00% | -10.92% | 34.20% | -2.78% | 20.77% |
Correlation
The correlation between GLAD and SAR is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2007 | 0.25 |
Over the past year, GLAD and SAR have become more correlated (0.58) than their long-term average of 0.25, meaning their price movements have been converging.
Fundamentals
GLAD:
$446.21M
SAR:
$296.36M
GLAD:
$1.04
SAR:
$1.42
GLAD:
19.00
SAR:
12.82
GLAD:
1.10
SAR:
0.60
GLAD:
7.96
SAR:
0.01
GLAD:
1.16
SAR:
0.00
GLAD:
$66.59M
SAR:
$30.85B
GLAD:
$28.95M
SAR:
$33.08M
GLAD:
$27.90M
SAR:
$24.04M
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Return for Risk
GLAD vs. SAR — Risk / Return Rank
GLAD
SAR
GLAD vs. SAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gladstone Capital Corporation (GLAD) and Saratoga Investment Corp. (SAR). 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.
| GLAD | SAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.92 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | -0.59 | -0.01 |
| Martin ratioReturn relative to average drawdown | -0.88 | -2.26 | +1.38 |
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Drawdowns
GLAD vs. SAR - Drawdown Comparison
The maximum GLAD drawdown since its inception was -74.87%, smaller than the maximum SAR drawdown of -90.67%. Use the drawdown chart below to compare losses from any high point for GLAD and SAR.
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Drawdown Indicators
| GLAD | SAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.87% | -90.67% | +15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -39.22% | -22.46% | -16.76% |
Max Drawdown (3Y)Largest decline over 3 years | -39.59% | -22.46% | -17.13% |
Max Drawdown (5Y)Largest decline over 5 years | -39.59% | -26.19% | -13.40% |
Max Drawdown (10Y)Largest decline over 10 years | -58.37% | -69.89% | +11.52% |
Current DrawdownCurrent decline from peak | -26.13% | -19.26% | -6.87% |
Average DrawdownAverage peak-to-trough decline | -18.74% | -17.55% | -1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.65% | 5.84% | +20.81% |
Volatility
GLAD vs. SAR - Volatility Comparison
The current volatility for Gladstone Capital Corporation (GLAD) is 6.31%, while Saratoga Investment Corp. (SAR) has a volatility of 16.69%. This indicates that GLAD experiences smaller price fluctuations and is considered to be less risky than SAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLAD | SAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 16.69% | -10.38% |
Volatility (6M)Calculated over the trailing 6-month period | 19.25% | 22.30% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.07% | 24.88% | +1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.68% | 23.58% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.03% | 37.98% | -7.95% |
Dividends
GLAD vs. SAR - Dividend Comparison
GLAD's dividend yield for the trailing twelve months is around 9.85%, less than SAR's 21.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLAD Gladstone Capital Corporation | 9.85% | 9.85% | 8.37% | 9.16% | 8.42% | 6.73% | 8.97% | 8.46% | 11.51% | 9.12% | 8.95% | 11.49% |
SAR Saratoga Investment Corp. | 21.10% | 14.04% | 13.80% | 10.90% | 11.02% | 6.16% | 6.57% | 6.61% | 10.35% | 10.51% | 9.12% | 14.14% |
Financials
GLAD vs. SAR - Financials Comparison
This section allows you to compare key financial metrics between Gladstone Capital Corporation and Saratoga Investment Corp.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
GLAD vs. SAR - Profitability Comparison
GLAD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
SAR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Saratoga Investment Corp. reported a gross profit of 0.00 and revenue of 30.78B. Therefore, the gross margin over that period was 0.0%.
GLAD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Gladstone Capital Corporation reported an operating income of 0.00 and revenue of 21.49M, resulting in an operating margin of 0.0%.
SAR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Saratoga Investment Corp. reported an operating income of 0.00 and revenue of 30.78B, resulting in an operating margin of 0.0%.
GLAD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Gladstone Capital Corporation reported a net income of 0.00 and revenue of 21.49M, resulting in a net margin of 0.0%.
SAR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Saratoga Investment Corp. reported a net income of 0.00 and revenue of 30.78B, resulting in a net margin of 0.0%.
Frequently Asked Questions
GLAD and SAR have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAR has higher volatility (16.69%) compared to GLAD (6.31%). In terms of maximum drawdown, GLAD dropped -74.87% vs SAR's -90.67%.
SAR currently has the higher Sharpe Ratio (-0.53 vs -0.90), 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.
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