III.L vs. BMI

Last updated Jun 13, 2026

III.L (3I Group plc) and BMI (Badger Meter, Inc.) are both stocks. III.L operates in Investment Banking & Investment Services (Financial Services), while BMI operates in Electrical Equipment & Parts (Industrials). Over the past 10 years, III.L returned 19.84%/yr vs 15.58%/yr for BMI. At a 0.20 correlation, their price movements are largely independent.

Performance

III.L vs. BMI - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in 3I Group plc (III.L) and Badger Meter, Inc. (BMI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

III.L is traded in GBp, while BMI is traded in USD. To make them comparable, the BMI values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, III.L achieves a -29.24% return, which is significantly lower than BMI's -23.64% return. Over the past 10 years, III.L has outperformed BMI with an annualized return of 19.84%, while BMI has yielded a comparatively lower 15.58% annualized return.

III.L

• 1D: 3.78%
• 1M: -4.63%
• YTD: -29.24%
• 6M: -26.18%
• 1Y: -43.66%
• 3Y*: 7.01%
• 5Y*: 16.34%
• 10Y*: 19.84%

BMI

• 1D: 1.02%
• 1M: 14.87%
• YTD: -23.64%
• 6M: -28.47%
• 1Y: -44.72%
• 3Y*: -5.86%
• 5Y*: 8.82%
• 10Y*: 15.58%

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

III.L vs. BMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
III.L 3I Group plc	-29.24%	-6.44%	50.11%	85.46%	-3.46%	28.99%	9.36%	47.12%	-11.76%	33.70%
BMI Badger Meter, Inc.	-23.64%	-23.05%	40.70%	35.46%	15.50%	15.19%	42.07%	28.39%	10.27%	19.59%

Correlation

The correlation between III.L and BMI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jul 11, 2007	0.20

Fundamentals

Market Cap III.L : £23.50B BMI : $3.87B
EPS III.L : £10.41 BMI : $4.42
PE Ratio III.L : 2.22 BMI : 29.78
PEG Ratio III.L : 0.27 BMI : 1.25
PS Ratio III.L : 10.82 BMI : 4.34
PB Ratio III.L : 0.76 BMI : 3.98
Total Revenue (TTM) III.L : £2.12B BMI : $896.73M
Gross Profit (TTM) III.L : £5.57B BMI : $370.96M
EBITDA (TTM) III.L : £9.82B BMI : $199.34M

Return for Risk

III.L vs. BMI — Risk / Return Rank

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

III.L

III.L Risk / Return Rank: 7
III.L Sharpe Ratio Rank: 5
III.L Sortino Ratio Rank: 8
III.L Omega Ratio Rank: 6
III.L Calmar Ratio Rank: 11
III.L Martin Ratio Rank: 4

BMI

BMI Risk / Return Rank: 7
BMI Sharpe Ratio Rank: 5
BMI Sortino Ratio Rank: 8
BMI Omega Ratio Rank: 5
BMI Calmar Ratio Rank: 9
BMI Martin Ratio Rank: 10

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.

III.L vs. BMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 3I Group plc (III.L) and Badger Meter, Inc. (BMI). 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.

	III.L	BMI	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	-1.01	+0.01
Sortino ratio: Return per unit of downside risk	-1.34	-1.27	-0.07
Omega ratio: Gain probability vs. loss probability	0.80	0.79	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.83	+0.01
Martin ratio: Return relative to average drawdown	-1.63	-1.37	-0.26

III.L vs. BMI - Sharpe Ratio Comparison

The current III.L Sharpe Ratio is -1.00, which is comparable to the BMI Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of III.L and BMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

III.L vs. BMI - Drawdown Comparison

The maximum III.L drawdown since its inception was -84.90%, which is greater than BMI's maximum drawdown of -60.74%. Use the drawdown chart below to compare losses from any high point for III.L and BMI.

Drawdown Indicators

	III.L	BMI	Difference
Max Drawdown Largest peak-to-trough decline	-84.90%	-60.74%	-24.16%
Max Drawdown (1Y) Largest decline over 1 year	-52.78%	-53.93%	+1.15%
Max Drawdown (3Y) Largest decline over 3 years	-52.78%	-55.11%	+2.33%
Max Drawdown (5Y) Largest decline over 5 years	-52.78%	-55.11%	+2.33%
Max Drawdown (10Y) Largest decline over 10 years	-52.78%	-55.11%	+2.33%
Current Drawdown Current decline from peak	-47.63%	-47.19%	-0.44%
Average Drawdown Average peak-to-trough decline	-23.08%	-12.70%	-10.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.82%	32.75%	-5.93%

Volatility

III.L vs. BMI - Volatility Comparison

3I Group plc (III.L) has a higher volatility of 19.01% compared to Badger Meter, Inc. (BMI) at 9.18%. This indicates that III.L's price experiences larger fluctuations and is considered to be riskier than BMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	III.L	BMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.01%	9.18%	+9.83%
Volatility (6M) Calculated over the trailing 6-month period	37.16%	38.68%	-1.52%
Volatility (1Y) Calculated over the trailing 1-year period	43.35%	44.25%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.78%	33.47%	-2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.35%	33.65%	-3.30%

Dividends

III.L vs. BMI - Dividend Comparison

III.L's dividend yield for the trailing twelve months is around 3.42%, more than BMI's 1.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMI Badger Meter, Inc.	1.21%	0.85%	0.58%	0.64%	0.78%	0.71%	0.74%	0.99%	1.14%	1.03%	1.16%	1.33%
III.L 3I Group plc	3.42%	2.42%	1.82%	2.32%	3.76%	2.78%	3.02%	3.42%	4.78%	2.90%	3.41%	2.37%

Financials

Frequently Asked Questions

Can I hold both III.L and BMI in my portfolio?

III.L and BMI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.