GSL vs. FRO
GSL (Global Ship Lease, Inc.) and FRO (Frontline Ltd.) are both stocks. GSL operates in Marine Shipping (Industrials), while FRO operates in Oil & Gas Midstream (Energy). Over the past 10 years, GSL returned 18.12%/yr vs 26.05%/yr for FRO. At a 0.27 correlation, their price movements are largely independent.
Performance
GSL vs. FRO - Performance Comparison
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Returns By Period
In the year-to-date period, GSL achieves a 13.93% return, which is significantly lower than FRO's 100.93% return. Over the past 10 years, GSL has underperformed FRO with an annualized return of 18.12%, while FRO has yielded a comparatively higher 26.05% annualized return.
GSL
- 1D
- -0.90%
- 1M
- 1.76%
- YTD
- 13.93%
- 6M
- 15.61%
- 1Y
- 59.65%
- 3Y*
- 36.81%
- 5Y*
- 21.41%
- 10Y*
- 18.12%
FRO
- 1D
- -5.04%
- 1M
- 14.48%
- YTD
- 100.93%
- 6M
- 104.58%
- 1Y
- 156.19%
- 3Y*
- 55.27%
- 5Y*
- 46.91%
- 10Y*
- 26.05%
GSL vs. FRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSL Global Ship Lease, Inc. | 13.93% | 73.47% | 18.09% | 28.97% | -22.16% | 100.35% | 34.65% | 78.02% | -46.55% | -22.67% |
FRO Frontline Ltd. | 100.93% | 61.17% | -22.48% | 96.23% | 73.67% | 13.67% | -41.47% | 134.59% | 20.48% | -32.17% |
Correlation
The correlation between GSL and FRO is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2008 | 0.27 |
Over the past year, GSL and FRO have become more correlated (0.51) than their long-term average of 0.27, meaning their price movements have been converging.
Fundamentals
GSL:
$1.42B
FRO:
$9.07B
GSL:
$10.76
FRO:
$4.06
GSL:
3.60
FRO:
10.02
GSL:
1.81
FRO:
4.03
GSL:
0.76
FRO:
3.19
GSL:
$770.24M
FRO:
$2.25B
GSL:
$409.23M
FRO:
$933.72M
GSL:
$528.32M
FRO:
$1.21B
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Return for Risk
GSL vs. FRO — Risk / Return Rank
GSL
FRO
GSL vs. FRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global Ship Lease, Inc. (GSL) and Frontline Ltd. (FRO). 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.
| GSL | FRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.48 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 7.34 | -3.83 |
| Martin ratioReturn relative to average drawdown | 10.38 | 21.16 | -10.78 |
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Drawdowns
GSL vs. FRO - Drawdown Comparison
The maximum GSL drawdown since its inception was -95.26%, roughly equal to the maximum FRO drawdown of -98.36%. Use the drawdown chart below to compare losses from any high point for GSL and FRO.
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Drawdown Indicators
| GSL | FRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.26% | -98.36% | +3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -17.09% | -21.41% | +4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -35.82% | -52.04% | +16.22% |
Max Drawdown (5Y)Largest decline over 5 years | -47.50% | -52.04% | +4.54% |
Max Drawdown (10Y)Largest decline over 10 years | -86.50% | -52.04% | -34.46% |
Current DrawdownCurrent decline from peak | -7.09% | -68.71% | +61.62% |
Average DrawdownAverage peak-to-trough decline | -58.63% | -67.84% | +9.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 7.41% | -1.65% |
Volatility
GSL vs. FRO - Volatility Comparison
The current volatility for Global Ship Lease, Inc. (GSL) is 7.98%, while Frontline Ltd. (FRO) has a volatility of 14.30%. This indicates that GSL experiences smaller price fluctuations and is considered to be less risky than FRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSL | FRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.98% | 14.30% | -6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 20.64% | 32.50% | -11.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.82% | 42.46% | -14.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.90% | 49.61% | -12.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.57% | 51.12% | +3.45% |
Dividends
GSL vs. FRO - Dividend Comparison
GSL's dividend yield for the trailing twelve months is around 6.20%, less than FRO's 7.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRO Frontline Ltd. | 7.69% | 4.26% | 13.74% | 14.31% | 1.24% | 0.00% | 25.72% | 0.78% | 0.00% | 6.54% | 19.83% | 1.67% |
GSL Global Ship Lease, Inc. | 6.20% | 6.06% | 7.56% | 7.57% | 8.26% | 3.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.69% |
Financials
GSL vs. FRO - Financials Comparison
This section allows you to compare key financial metrics between Global Ship Lease, Inc. and Frontline Ltd.. 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
GSL vs. FRO - Profitability Comparison
GSL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Global Ship Lease, Inc. reported a gross profit of 106.27M and revenue of 198.08M. Therefore, the gross margin over that period was 53.7%.
FRO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported a gross profit of 395.96M and revenue of 714.24M. Therefore, the gross margin over that period was 55.4%.
GSL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Global Ship Lease, Inc. reported an operating income of 97.42M and revenue of 198.08M, resulting in an operating margin of 49.2%.
FRO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported an operating income of 370.04M and revenue of 714.24M, resulting in an operating margin of 51.8%.
GSL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Global Ship Lease, Inc. reported a net income of 93.83M and revenue of 198.08M, resulting in a net margin of 47.4%.
FRO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported a net income of 559.12M and revenue of 714.24M, resulting in a net margin of 78.3%.
Frequently Asked Questions
GSL and FRO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRO has higher volatility (14.30%) compared to GSL (7.98%). In terms of maximum drawdown, GSL dropped -95.26% vs FRO's -98.36%.
FRO currently has the higher Sharpe Ratio (3.74 vs 2.16), 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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