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 -10.87%/yr vs -5.42%/yr for BXMT. Their 0.70 correlation means they have sometimes moved together and sometimes differently.
Performance
KREF vs. BXMT - Performance Comparison
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Returns By Period
In the year-to-date period, KREF achieves a -10.55% return, which is significantly higher than BXMT's -19.93% return.
KREF
- 1D
- -1.28%
- 1M
- -1.00%
- 6M
- -11.19%
- YTD
- -10.55%
- 1Y
- -14.12%
- 3Y*
- -7.47%
- 5Y*
- -10.87%
- 10Y*
- —
- ALL TIME*
- -1.98%
BXMT
- 1D
- -2.87%
- 1M
- -15.71%
- 6M
- -20.43%
- YTD
- -19.93%
- 1Y
- -13.66%
- 3Y*
- -3.97%
- 5Y*
- -5.42%
- 10Y*
- 2.56%
- ALL TIME*
- 4.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $34.63M | $30.38M | $28.02M | |
| $11.73M | $8.76M | $7.87M |
KREF vs. BXMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KREF KKR Real Estate Finance Trust Inc. | -10.55% | -9.25% | -15.80% | 9.15% | -25.89% | 27.86% | -2.82% | 16.15% | 4.26% | -0.09% |
BXMT Blackstone Mortgage Trust, Inc. | -19.93% | 21.13% | -7.90% | 13.46% | -24.03% | 20.27% | -17.83% | 25.16% | 6.95% | 12.82% |
Correlation
The correlation between KREF and BXMT is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (All Time) Calculated using the full available price history since May 5, 2017 | 0.70 |
The correlation between KREF and BXMT shifts across timeframes, from 0.63 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
KREF:
$447.53M
BXMT:
$2.45B
KREF:
-$2.95
BXMT:
$0.09
KREF:
1.32
BXMT:
1.90
KREF:
0.47
BXMT:
0.75
KREF:
$341.29M
BXMT:
$1.30B
KREF:
$279.11M
BXMT:
$648.75M
KREF:
$159.07M
BXMT:
$837.63M
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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.
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.
| KREF | BXMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.92 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | -0.50 | +0.09 |
| Martin ratioReturn relative to average drawdown | -0.73 | -1.80 | +1.08 |
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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% | -26.10% | -8.43% |
Max Drawdown (3Y)Largest decline over 3 years | -44.87% | -26.10% | -18.77% |
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 | -48.56% | -46.25% | -2.31% |
Average DrawdownAverage peak-to-trough decline | -19.98% | -49.01% | +29.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.03% | 7.17% | +11.86% |
Volatility
KREF vs. BXMT - Volatility Comparison
The current volatility for KKR Real Estate Finance Trust Inc. (KREF) is 9.79%, while Blackstone Mortgage Trust, Inc. (BXMT) has a volatility of 10.82%. This indicates that KREF experiences smaller price fluctuations and is considered to be less risky 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 | 9.79% | 10.82% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 26.10% | 19.43% | +6.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.11% | 23.80% | +7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.27% | 27.99% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.77% | 32.79% | -2.02% |
Dividends
KREF vs. BXMT - Dividend Comparison
KREF's dividend yield for the trailing twelve months is around 12.21%, less than BXMT's 12.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXMT Blackstone Mortgage Trust, Inc. | 12.93% | 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. | 12.21% | 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 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXMT has higher volatility (10.82%) compared to KREF (9.79%). In terms of maximum drawdown, KREF dropped -57.33% vs BXMT's -97.98%.
KREF currently has the higher Sharpe Ratio (-0.45 vs -0.55), 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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