KMI vs. GBDC
KMI (Kinder Morgan, Inc.) and GBDC (Golub Capital BDC, Inc.) are both stocks. KMI operates in Oil & Gas Midstream (Energy), while GBDC operates in Asset Management (Financial Services). Over the past 10 years, KMI returned 10.37%/yr vs 5.67%/yr for GBDC. Their 0.24 correlation means their historical movements had little consistent relationship.
Performance
KMI vs. GBDC - Performance Comparison
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Returns By Period
In the year-to-date period, KMI achieves a 19.29% return, which is significantly higher than GBDC's -0.33% return. Over the past 10 years, KMI has outperformed GBDC with an annualized return of 10.37%, while GBDC has yielded a comparatively lower 5.67% annualized return.
KMI
- 1D
- 1.64%
- 1M
- 0.37%
- 6M
- 7.55%
- YTD
- 19.29%
- 1Y
- 18.01%
- 3Y*
- 28.06%
- 5Y*
- 19.17%
- 10Y*
- 10.37%
- ALL TIME*
- 4.86%
GBDC
- 1D
- -0.08%
- 1M
- -1.23%
- 6M
- 1.01%
- YTD
- -0.33%
- 1Y
- -2.97%
- 3Y*
- 8.93%
- 5Y*
- 6.34%
- 10Y*
- 5.67%
- ALL TIME*
- 8.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.46M | $11.76M | $15.35M | |
| $379.13M | $306.76M | $325.97M |
KMI vs. GBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KMI Kinder Morgan, Inc. | 19.29% | 4.74% | 64.42% | 4.10% | 21.23% | 23.75% | -30.77% | 44.43% | -11.18% | -10.56% |
GBDC Golub Capital BDC, Inc. | -0.33% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | -14.73% | 21.09% | -2.20% | 6.27% |
Correlation
The correlation between KMI and GBDC is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2011 | 0.24 |
Over the past year, the correlation between KMI and GBDC has dropped to 0.01 - well below their long-term average of 0.24, suggesting their price drivers have been diverging.
Fundamentals
KMI:
$71.66B
GBDC:
$3.34B
KMI:
$0.95
GBDC:
$0.95
KMI:
33.79
GBDC:
13.49
KMI:
2.06
GBDC:
7.59
KMI:
4.53
GBDC:
4.08
KMI:
$11.85B
GBDC:
$831.29M
KMI:
$5.16B
GBDC:
$525.36M
KMI:
$5.61B
GBDC:
$506.70M
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Return for Risk
KMI vs. GBDC — Risk / Return Rank
KMI
GBDC
KMI vs. GBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kinder Morgan, Inc. (KMI) and Golub Capital BDC, Inc. (GBDC). 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.
| KMI | GBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.98 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | -0.30 | +2.11 |
| Martin ratioReturn relative to average drawdown | 3.83 | -0.74 | +4.57 |
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Drawdowns
KMI vs. GBDC - Drawdown Comparison
The maximum KMI drawdown since its inception was -72.70%, which is greater than GBDC's maximum drawdown of -47.30%. Use the drawdown chart below to compare losses from any high point for KMI and GBDC.
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Drawdown Indicators
| KMI | GBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.70% | -47.30% | -25.40% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -15.13% | +5.05% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | -18.20% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -20.31% | -19.28% | -1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -55.13% | -47.30% | -7.83% |
Current DrawdownCurrent decline from peak | -6.21% | -7.73% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -31.84% | -6.15% | -25.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 6.29% | -1.53% |
Volatility
KMI vs. GBDC - Volatility Comparison
Kinder Morgan, Inc. (KMI) has a higher volatility of 5.69% compared to Golub Capital BDC, Inc. (GBDC) at 4.47%. This indicates that KMI's price experiences larger fluctuations and is considered to be riskier than GBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMI | GBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 4.47% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 14.36% | 16.18% | -1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 19.26% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 17.24% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.45% | 21.63% | +5.82% |
Dividends
KMI vs. GBDC - Dividend Comparison
KMI's dividend yield for the trailing twelve months is around 2.74%, less than GBDC's 11.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 11.22% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
KMI Kinder Morgan, Inc. | 2.74% | 4.24% | 4.18% | 6.38% | 6.10% | 6.76% | 7.59% | 4.49% | 4.71% | 2.77% | 2.41% | 12.94% |
Financials
KMI vs. GBDC - Financials Comparison
This section allows you to compare key financial metrics between Kinder Morgan, Inc. and Golub Capital BDC, Inc.. 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
KMI vs. GBDC - Profitability Comparison
KMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Kinder Morgan, Inc. reported a gross profit of -1.63B and revenue of -1.63B. Therefore, the gross margin over that period was 100.0%.
GBDC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Golub Capital BDC, Inc. reported a gross profit of 0.00 and revenue of 184.79M. Therefore, the gross margin over that period was 0.0%.
KMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Kinder Morgan, Inc. reported an operating income of -1.44B and revenue of -1.63B, resulting in an operating margin of 88.7%.
GBDC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Golub Capital BDC, Inc. reported an operating income of 0.00 and revenue of 184.79M, resulting in an operating margin of 0.0%.
KMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Kinder Morgan, Inc. reported a net income of -1.01B and revenue of -1.63B, resulting in a net margin of 62.1%.
GBDC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Golub Capital BDC, Inc. reported a net income of 0.00 and revenue of 184.79M, resulting in a net margin of 0.0%.
Frequently Asked Questions
KMI and GBDC have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMI has higher volatility (5.69%) compared to GBDC (4.47%). In terms of maximum drawdown, KMI dropped -72.70% vs GBDC's -47.30%.
KMI currently has the higher Sharpe Ratio (0.91 vs -0.24), 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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