HAFN vs. DHT

Last updated Apr 1, 2026

Compare and contrast key facts about Hafnia Limited (HAFN) and DHT Holdings, Inc. (DHT).

Performance

HAFN vs. DHT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hafnia Limited (HAFN) and DHT Holdings, Inc. (DHT). The values are adjusted to include any dividend payments, if applicable.

HAFN vs. DHT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HAFN Hafnia Limited	46.02%	2.71%	-12.52%
DHT DHT Holdings, Inc.	53.40%	40.04%	-12.34%

Fundamentals

Market Cap HAFN : $3.83B DHT : $2.94B
EPS HAFN : $0.67 DHT : $1.31
PE Ratio HAFN : 11.28 DHT : 13.92
PEG Ratio HAFN : 0.24 DHT : 0.47
PS Ratio HAFN : 1.68 DHT : 5.90
PB Ratio HAFN : 1.64 DHT : 2.59
Total Revenue (TTM) HAFN : $2.28B DHT : $498.17M
Gross Profit (TTM) HAFN : $429.85M DHT : $190.72M
EBITDA (TTM) HAFN : $567.31M DHT : $331.91M

Returns By Period

In the year-to-date period, HAFN achieves a 46.02% return, which is significantly lower than DHT's 53.40% return.

HAFN

• 1D: 1.74%
• 1M: 1.21%
• YTD: 46.02%
• 6M: 33.25%
• 1Y: 99.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DHT

• 1D: 1.90%
• 1M: -6.26%
• YTD: 53.40%
• 6M: 58.88%
• 1Y: 87.18%
• 3Y*: 29.90%
• 5Y*: 33.08%
• 10Y*: 21.20%

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

Return for Risk

HAFN vs. DHT — Risk / Return Rank

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

HAFN

HAFN Risk / Return Rank: 93
HAFN Sharpe Ratio Rank: 95
HAFN Sortino Ratio Rank: 93
HAFN Omega Ratio Rank: 92
HAFN Calmar Ratio Rank: 94
HAFN Martin Ratio Rank: 93

DHT

DHT Risk / Return Rank: 93
DHT Sharpe Ratio Rank: 94
DHT Sortino Ratio Rank: 93
DHT Omega Ratio Rank: 89
DHT Calmar Ratio Rank: 95
DHT Martin Ratio Rank: 93

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.

HAFN vs. DHT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hafnia Limited (HAFN) and DHT Holdings, Inc. (DHT). 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.

	HAFN	DHT	Difference
Sharpe ratio Return per unit of total volatility	2.68	2.47	+0.21
Sortino ratio Return per unit of downside risk	3.24	3.21	+0.04
Omega ratio Gain probability vs. loss probability	1.42	1.38	+0.04
Calmar ratio Return relative to maximum drawdown	5.05	5.49	-0.44
Martin ratio Return relative to average drawdown	13.76	13.34	+0.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAFN vs. DHT - Sharpe Ratio Comparison

The current HAFN Sharpe Ratio is 2.68, which is comparable to the DHT Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of HAFN and DHT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HAFN	DHT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.68	2.47	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	-0.05	+0.43

Correlation

The correlation between HAFN and DHT is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HAFN vs. DHT - Dividend Comparison

HAFN's dividend yield for the trailing twelve months is around 7.18%, more than DHT's 5.36% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HAFN Hafnia Limited	7.18%	7.48%	20.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DHT DHT Holdings, Inc.	5.36%	6.06%	10.76%	11.72%	1.35%	2.50%	25.81%	2.42%	2.04%	5.57%	17.15%	6.55%

Drawdowns

HAFN vs. DHT - Drawdown Comparison

The maximum HAFN drawdown since its inception was -53.75%, smaller than the maximum DHT drawdown of -97.12%. Use the drawdown chart below to compare losses from any high point for HAFN and DHT.

Drawdown Indicators

	HAFN	DHT	Difference
Max Drawdown Largest peak-to-trough decline	-53.75%	-97.12%	+43.37%
Max Drawdown (1Y) Largest decline over 1 year	-19.04%	-15.22%	-3.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.56%	—
Current Drawdown Current decline from peak	-0.98%	-64.59%	+63.61%
Average Drawdown Average peak-to-trough decline	-22.64%	-76.48%	+53.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.99%	6.26%	+0.73%

Volatility

HAFN vs. DHT - Volatility Comparison

The current volatility for Hafnia Limited (HAFN) is 13.80%, while DHT Holdings, Inc. (DHT) has a volatility of 14.57%. This indicates that HAFN experiences smaller price fluctuations and is considered to be less risky than DHT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAFN	DHT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.80%	14.57%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	24.98%	25.16%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	37.36%	35.53%	+1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.53%	38.24%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.53%	41.53%	-3.00%

Financials

HAFN vs. DHT - Profitability Comparison

The chart below illustrates the profitability comparison between Hafnia Limited and DHT Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HAFN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Hafnia Limited reported a gross profit of 120.48M and revenue of 593.24M. Therefore, the gross margin over that period was 20.3%.

DHT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, DHT Holdings, Inc. reported a gross profit of 73.73M and revenue of 143.93M. Therefore, the gross margin over that period was 51.2%.

HAFN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Hafnia Limited reported an operating income of 93.53M and revenue of 593.24M, resulting in an operating margin of 15.8%.

DHT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, DHT Holdings, Inc. reported an operating income of 68.11M and revenue of 143.93M, resulting in an operating margin of 47.3%.

HAFN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Hafnia Limited reported a net income of 109.71M and revenue of 593.24M, resulting in a net margin of 18.5%.

DHT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, DHT Holdings, Inc. reported a net income of 66.07M and revenue of 143.93M, resulting in a net margin of 45.9%.