MITT vs. REFI

Last updated Jun 4, 2026

MITT (AG Mortgage Investment Trust, Inc.) and REFI (Chicago Atlantic Real Estate Finance, Inc.) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 3 years, MITT returned 22.87%/yr vs 4.02%/yr for REFI. At a 0.37 correlation, their price movements are largely independent.

Performance

MITT vs. REFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AG Mortgage Investment Trust, Inc. (MITT) and Chicago Atlantic Real Estate Finance, Inc. (REFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MITT achieves a -8.17% return, which is significantly lower than REFI's -6.00% return.

MITT

• 1D: -3.44%
• 1M: -2.82%
• YTD: -8.17%
• 6M: -4.02%
• 1Y: 12.41%
• 3Y*: 22.87%
• 5Y*: 1.15%
• 10Y*: -6.95%

REFI

• 1D: -1.95%
• 1M: -7.53%
• YTD: -6.00%
• 6M: -6.37%
• 1Y: -11.23%
• 3Y*: 4.02%
• 5Y*: —
• 10Y*: —

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

MITT vs. REFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MITT AG Mortgage Investment Trust, Inc.	-8.17%	42.79%	17.10%	35.77%	-41.03%	-3.34%
REFI Chicago Atlantic Real Estate Finance, Inc.	-6.00%	-8.70%	8.69%	23.70%	3.35%	0.97%

Correlation

The correlation between MITT and REFI is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.37

The correlation between MITT and REFI shifts across timeframes, from 0.37 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MITT : $240.26M REFI : $237.61M
EPS MITT : $1.09 REFI : $226.63
PE Ratio MITT : 6.95 REFI : 0.05
PS Ratio MITT : 0.47 REFI : 5.35
PB Ratio MITT : 0.74 REFI : 0.00
Total Revenue (TTM) MITT : $492.91M REFI : $44.35M
Gross Profit (TTM) MITT : $464.48M REFI : $42.41M
EBITDA (TTM) MITT : $457.33M REFI : $8.16M

Return for Risk

MITT vs. REFI — Risk / Return Rank

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

MITT

MITT Risk / Return Rank: 52
MITT Sharpe Ratio Rank: 56
MITT Sortino Ratio Rank: 49
MITT Omega Ratio Rank: 47
MITT Calmar Ratio Rank: 54
MITT Martin Ratio Rank: 56

REFI

REFI Risk / Return Rank: 15
REFI Sharpe Ratio Rank: 20
REFI Sortino Ratio Rank: 19
REFI Omega Ratio Rank: 19
REFI Calmar Ratio Rank: 12
REFI Martin Ratio Rank: 7

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.

MITT vs. REFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AG Mortgage Investment Trust, Inc. (MITT) and Chicago Atlantic Real Estate Finance, Inc. (REFI). 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.

	MITT	REFI	Difference
Sharpe ratio Return per unit of total volatility	0.44	-0.48	+0.93
Sortino ratio Return per unit of downside risk	0.79	-0.53	+1.32
Omega ratio Gain probability vs. loss probability	1.10	0.94	+0.16
Calmar ratio Return relative to maximum drawdown	0.60	-0.77	+1.37
Martin ratio Return relative to average drawdown	1.50	-1.43	+2.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MITT vs. REFI - Sharpe Ratio Comparison

The current MITT Sharpe Ratio is 0.44, which is higher than the REFI Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of MITT and REFI, 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

	MITT	REFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	-0.48	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.18	-0.22

Drawdowns

MITT vs. REFI - Drawdown Comparison

The maximum MITT drawdown since its inception was -91.49%, which is greater than REFI's maximum drawdown of -26.55%. Use the drawdown chart below to compare losses from any high point for MITT and REFI.

Drawdown Indicators

	MITT	REFI	Difference
Max Drawdown Largest peak-to-trough decline	-91.49%	-26.55%	-64.94%
Max Drawdown (1Y) Largest decline over 1 year	-20.74%	-14.71%	-6.03%
Max Drawdown (3Y) Largest decline over 3 years	-25.77%	-19.25%	-6.52%
Max Drawdown (5Y) Largest decline over 5 years	-71.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-91.49%	—	—
Current Drawdown Current decline from peak	-72.72%	-18.51%	-54.21%
Average Drawdown Average peak-to-trough decline	-38.69%	-9.87%	-28.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.29%	7.88%	+0.41%

Volatility

MITT vs. REFI - Volatility Comparison

The current volatility for AG Mortgage Investment Trust, Inc. (MITT) is 7.30%, while Chicago Atlantic Real Estate Finance, Inc. (REFI) has a volatility of 8.18%. This indicates that MITT experiences smaller price fluctuations and is considered to be less risky than REFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MITT	REFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	8.18%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	20.07%	16.85%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	28.44%	23.42%	+5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.59%	24.32%	+11.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.65%	24.32%	+43.33%

Dividends

MITT vs. REFI - Dividend Comparison

MITT's dividend yield for the trailing twelve months is around 11.76%, less than REFI's 17.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MITT AG Mortgage Investment Trust, Inc.	11.76%	9.98%	11.28%	11.34%	15.25%	7.90%	1.02%	12.32%	12.40%	10.52%	11.10%	17.72%
REFI Chicago Atlantic Real Estate Finance, Inc.	17.00%	15.33%	13.36%	13.41%	13.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both MITT and REFI in my portfolio?

MITT and REFI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MITT or REFI?

REFI has higher volatility (8.18%) compared to MITT (7.30%). In terms of maximum drawdown, MITT dropped -91.49% vs REFI's -26.55%.

Which has better risk-adjusted returns?

MITT currently has the higher Sharpe Ratio (0.44 vs -0.48), 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.