LIEN vs. TPVG

Last updated Jun 4, 2026

LIEN (Chicago Atlantic BDC, Inc) and TPVG (TriplePoint Venture Growth BDC Corp.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 3 years, LIEN returned 20.11%/yr vs -7.10%/yr for TPVG. At a 0.08 correlation, their price movements are largely independent.

Performance

LIEN vs. TPVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chicago Atlantic BDC, Inc (LIEN) and TriplePoint Venture Growth BDC Corp. (TPVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIEN achieves a -1.41% return, which is significantly higher than TPVG's -13.98% return.

LIEN

• 1D: -0.30%
• 1M: 5.25%
• YTD: -1.41%
• 6M: -2.27%
• 1Y: 7.76%
• 3Y*: 20.11%
• 5Y*: —
• 10Y*: —

TPVG

• 1D: -2.89%
• 1M: -4.10%
• YTD: -13.98%
• 6M: -11.11%
• 1Y: -10.47%
• 3Y*: -7.10%
• 5Y*: -7.44%
• 10Y*: 5.80%

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

LIEN vs. TPVG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LIEN Chicago Atlantic BDC, Inc	-1.41%	-3.99%	58.63%	-1.09%	-30.00%
TPVG TriplePoint Venture Growth BDC Corp.	-13.98%	3.93%	-20.01%	20.29%	-31.13%

Correlation

The correlation between LIEN and TPVG 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	0.12
Correlation (All Time) Calculated using the full available price history since Feb 7, 2022	0.08

Fundamentals

Market Cap LIEN : $224.10M TPVG : $217.85M
EPS LIEN : $1.50 TPVG : $1.14
PE Ratio LIEN : 6.55 TPVG : 4.71
PEG Ratio LIEN : 0.06 TPVG : 0.22
PS Ratio LIEN : 4.60 TPVG : 2.34
PB Ratio LIEN : 0.74 TPVG : 0.62
Total Revenue (TTM) LIEN : $48.69M TPVG : $92.89M
Gross Profit (TTM) LIEN : $44.09M TPVG : $65.21M
EBITDA (TTM) LIEN : $35.22M TPVG : $63.04M

Return for Risk

LIEN vs. TPVG — Risk / Return Rank

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

LIEN

LIEN Risk / Return Rank: 50
LIEN Sharpe Ratio Rank: 51
LIEN Sortino Ratio Rank: 45
LIEN Omega Ratio Rank: 45
LIEN Calmar Ratio Rank: 53
LIEN Martin Ratio Rank: 54

TPVG

TPVG Risk / Return Rank: 26
TPVG Sharpe Ratio Rank: 27
TPVG Sortino Ratio Rank: 24
TPVG Omega Ratio Rank: 24
TPVG Calmar Ratio Rank: 29
TPVG Martin Ratio Rank: 28

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.

LIEN vs. TPVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chicago Atlantic BDC, Inc (LIEN) and TriplePoint Venture Growth BDC Corp. (TPVG). 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.

	LIEN	TPVG	Difference
Sharpe ratio Return per unit of total volatility	0.28	-0.33	+0.61
Sortino ratio Return per unit of downside risk	0.62	-0.26	+0.88
Omega ratio Gain probability vs. loss probability	1.08	0.97	+0.11
Calmar ratio Return relative to maximum drawdown	0.54	-0.33	+0.88
Martin ratio Return relative to average drawdown	1.19	-0.67	+1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LIEN vs. TPVG - Sharpe Ratio Comparison

The current LIEN Sharpe Ratio is 0.28, which is higher than the TPVG Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of LIEN and TPVG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LIEN	TPVG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	-0.33	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.06	-0.04

Drawdowns

LIEN vs. TPVG - Drawdown Comparison

The maximum LIEN drawdown since its inception was -46.91%, smaller than the maximum TPVG drawdown of -81.78%. Use the drawdown chart below to compare losses from any high point for LIEN and TPVG.

Drawdown Indicators

	LIEN	TPVG	Difference
Max Drawdown Largest peak-to-trough decline	-46.91%	-81.78%	+34.87%
Max Drawdown (1Y) Largest decline over 1 year	-14.35%	-31.61%	+17.26%
Max Drawdown (3Y) Largest decline over 3 years	-22.49%	-44.54%	+22.05%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.78%	—
Current Drawdown Current decline from peak	-10.54%	-45.95%	+35.41%
Average Drawdown Average peak-to-trough decline	-20.21%	-18.36%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.53%	15.55%	-9.02%

Volatility

LIEN vs. TPVG - Volatility Comparison

The current volatility for Chicago Atlantic BDC, Inc (LIEN) is 9.96%, while TriplePoint Venture Growth BDC Corp. (TPVG) has a volatility of 11.14%. This indicates that LIEN experiences smaller price fluctuations and is considered to be less risky than TPVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIEN	TPVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.96%	11.14%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	17.47%	24.87%	-7.40%
Volatility (1Y) Calculated over the trailing 1-year period	27.55%	32.01%	-4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.44%	31.54%	+7.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.44%	67.74%	-28.30%

Dividends

LIEN vs. TPVG - Dividend Comparison

LIEN's dividend yield for the trailing twelve months is around 13.85%, less than TPVG's 18.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIEN Chicago Atlantic BDC, Inc	13.85%	13.17%	8.95%	15.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPVG TriplePoint Venture Growth BDC Corp.	18.77%	16.51%	18.97%	14.73%	14.86%	8.02%	11.81%	10.13%	14.14%	11.35%	12.22%	12.04%

Financials

LIEN vs. TPVG - Profitability Comparison

The chart below illustrates the profitability comparison between Chicago Atlantic BDC, Inc and TriplePoint Venture Growth BDC Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

LIEN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Chicago Atlantic BDC, Inc reported a gross profit of 12.58M and revenue of 16.70M. Therefore, the gross margin over that period was 75.3%.

TPVG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TriplePoint Venture Growth BDC Corp. reported a gross profit of 0.00 and revenue of 22.78M. Therefore, the gross margin over that period was 0.0%.

LIEN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Chicago Atlantic BDC, Inc reported an operating income of 9.56M and revenue of 16.70M, resulting in an operating margin of 57.2%.

TPVG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TriplePoint Venture Growth BDC Corp. reported an operating income of 0.00 and revenue of 22.78M, resulting in an operating margin of 0.0%.

LIEN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Chicago Atlantic BDC, Inc reported a net income of 8.54M and revenue of 16.70M, resulting in a net margin of 51.1%.

TPVG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TriplePoint Venture Growth BDC Corp. reported a net income of 9.56M and revenue of 22.78M, resulting in a net margin of 42.0%.

Frequently Asked Questions

Can I hold both LIEN and TPVG in my portfolio?

LIEN and TPVG 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.

Which is riskier, LIEN or TPVG?

TPVG has higher volatility (11.14%) compared to LIEN (9.96%). In terms of maximum drawdown, LIEN dropped -46.91% vs TPVG's -81.78%.

Which has better risk-adjusted returns?

LIEN currently has the higher Sharpe Ratio (0.28 vs -0.33), 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.