KREF vs. BXMT
KREF (KKR Real Estate Finance Trust Inc.) and BXMT (Blackstone Mortgage Trust, Inc.) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 5 years, KREF returned -11.60%/yr vs -1.60%/yr for BXMT. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
KREF vs. BXMT - Performance Comparison
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Returns By Period
In the year-to-date period, KREF achieves a -14.22% return, which is significantly lower than BXMT's -3.50% return.
KREF
- 1D
- -0.59%
- 1M
- 4.96%
- YTD
- -14.22%
- 6M
- -14.32%
- 1Y
- -14.64%
- 3Y*
- -6.64%
- 5Y*
- -11.60%
- 10Y*
- —
BXMT
- 1D
- -1.64%
- 1M
- -4.81%
- YTD
- -3.50%
- 6M
- -4.30%
- 1Y
- 5.80%
- 3Y*
- 9.52%
- 5Y*
- -1.60%
- 10Y*
- 4.80%
KREF vs. BXMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KREF KKR Real Estate Finance Trust Inc. | -14.22% | -9.25% | -15.80% | 9.15% | -25.89% | 27.86% | -2.82% | 16.15% | 4.26% | -5.19% |
BXMT Blackstone Mortgage Trust, Inc. | -3.50% | 21.13% | -7.90% | 13.46% | -24.03% | 20.27% | -17.83% | 25.16% | 6.95% | 11.85% |
Correlation
The correlation between KREF and BXMT is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 8, 2017 | 0.70 |
The correlation between KREF and BXMT has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
Fundamentals
KREF:
$437.84M
BXMT:
$3.05B
KREF:
-$1.58
BXMT:
$0.61
KREF:
1.22
BXMT:
2.00
KREF:
0.40
BXMT:
0.89
KREF:
$366.11M
BXMT:
$1.54B
KREF:
$298.61M
BXMT:
$960.53M
KREF:
$197.55M
BXMT:
$957.49M
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Return for Risk
KREF vs. BXMT — Risk / Return Rank
KREF
BXMT
KREF vs. BXMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Real Estate Finance Trust Inc. (KREF) and Blackstone Mortgage Trust, Inc. (BXMT). 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.
| KREF | BXMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.06 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 0.48 | -0.91 |
| Martin ratioReturn relative to average drawdown | -0.84 | 1.15 | -1.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KREF | BXMT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | 0.27 | -0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | -0.06 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.08 | -0.18 |
Drawdowns
KREF vs. BXMT - Drawdown Comparison
The maximum KREF drawdown since its inception was -57.33%, smaller than the maximum BXMT drawdown of -97.98%. Use the drawdown chart below to compare losses from any high point for KREF and BXMT.
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Drawdown Indicators
| KREF | BXMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.33% | -97.98% | +40.65% |
Max Drawdown (1Y)Largest decline over 1 year | -34.53% | -12.02% | -22.51% |
Max Drawdown (3Y)Largest decline over 3 years | -44.87% | -23.29% | -21.58% |
Max Drawdown (5Y)Largest decline over 5 years | -57.33% | -43.02% | -14.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -67.86% | — |
Current DrawdownCurrent decline from peak | -50.67% | -35.22% | -15.45% |
Average DrawdownAverage peak-to-trough decline | -19.51% | -49.07% | +29.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.45% | 5.08% | +12.37% |
Volatility
KREF vs. BXMT - Volatility Comparison
KKR Real Estate Finance Trust Inc. (KREF) has a higher volatility of 7.76% compared to Blackstone Mortgage Trust, Inc. (BXMT) at 7.31%. This indicates that KREF's price experiences larger fluctuations and is considered to be riskier than BXMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KREF | BXMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.76% | 7.31% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 24.23% | 16.44% | +7.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.06% | 21.49% | +7.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.88% | 27.72% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.64% | 32.61% | -1.97% |
Dividends
KREF vs. BXMT - Dividend Comparison
KREF's dividend yield for the trailing twelve months is around 14.77%, more than BXMT's 10.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXMT Blackstone Mortgage Trust, Inc. | 10.44% | 9.83% | 12.52% | 11.66% | 11.71% | 8.10% | 9.01% | 6.66% | 7.78% | 7.71% | 8.25% | 8.52% |
KREF KKR Real Estate Finance Trust Inc. | 14.77% | 12.17% | 9.90% | 13.00% | 12.32% | 9.53% | 9.60% | 8.42% | 8.83% | 4.95% | 0.00% | 0.00% |
Financials
KREF vs. BXMT - Financials Comparison
This section allows you to compare key financial metrics between KKR Real Estate Finance Trust Inc. and Blackstone Mortgage Trust, 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
Frequently Asked Questions
KREF and BXMT have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KREF has higher volatility (7.76%) compared to BXMT (7.31%). In terms of maximum drawdown, KREF dropped -57.33% vs BXMT's -97.98%.
BXMT currently has the higher Sharpe Ratio (0.27 vs -0.51), 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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