NEWT vs. GECC

Last updated Jun 3, 2026

NEWT (Newtek Business Services Corp.) and GECC (Great Elm Capital Corp.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 5 years, NEWT returned -11.23%/yr vs -9.80%/yr for GECC. At a 0.16 correlation, their price movements are largely independent.

Performance

NEWT vs. GECC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Newtek Business Services Corp. (NEWT) and Great Elm Capital Corp. (GECC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEWT achieves a 22.20% return, which is significantly higher than GECC's -6.84% return.

NEWT

• 1D: 0.07%
• 1M: 3.96%
• YTD: 22.20%
• 6M: 29.61%
• 1Y: 36.26%
• 3Y*: 7.23%
• 5Y*: -11.23%
• 10Y*: 10.13%

GECC

• 1D: -4.62%
• 1M: 11.51%
• YTD: -6.84%
• 6M: -9.65%
• 1Y: -30.30%
• 3Y*: 7.69%
• 5Y*: -9.80%
• 10Y*: —

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

NEWT vs. GECC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEWT Newtek Business Services Corp.	22.20%	-4.90%	-1.56%	-10.65%	-32.96%	55.76%	-1.80%	42.85%	3.21%	27.51%
GECC Great Elm Capital Corp.	-6.84%	-25.44%	18.85%	50.81%	-47.39%	-4.46%	-36.93%	12.30%	-11.10%	-7.41%

Correlation

The correlation between NEWT and GECC is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Nov 7, 2016	0.16

The correlation between NEWT and GECC shifts across timeframes, from 0.16 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NEWT : $425.09M GECC : $86.71M
EPS NEWT : $2.39 GECC : -$2.16
PS Ratio NEWT : 1.11 GECC : 2.05
PB Ratio NEWT : 1.19 GECC : 0.81
Total Revenue (TTM) NEWT : $331.88M GECC : $37.98M
Gross Profit (TTM) NEWT : $233.96M GECC : $32.17M
EBITDA (TTM) NEWT : $130.57M GECC : -$7.56M

Return for Risk

NEWT vs. GECC — Risk / Return Rank

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

NEWT

NEWT Risk / Return Rank: 67
NEWT Sharpe Ratio Rank: 72
NEWT Sortino Ratio Rank: 66
NEWT Omega Ratio Rank: 64
NEWT Calmar Ratio Rank: 65
NEWT Martin Ratio Rank: 67

GECC

GECC Risk / Return Rank: 15
GECC Sharpe Ratio Rank: 9
GECC Sortino Ratio Rank: 12
GECC Omega Ratio Rank: 11
GECC Calmar Ratio Rank: 20
GECC Martin Ratio Rank: 21

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.

NEWT vs. GECC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Newtek Business Services Corp. (NEWT) and Great Elm Capital Corp. (GECC). 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.

	NEWT	GECC	Difference
Sharpe ratio Return per unit of total volatility	1.06	-0.76	+1.82
Sortino ratio Return per unit of downside risk	1.56	-0.88	+2.44
Omega ratio Gain probability vs. loss probability	1.19	0.87	+0.32
Calmar ratio Return relative to maximum drawdown	1.25	-0.57	+1.82
Martin ratio Return relative to average drawdown	3.18	-0.93	+4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEWT vs. GECC - Sharpe Ratio Comparison

The current NEWT Sharpe Ratio is 1.06, which is higher than the GECC Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of NEWT and GECC, 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

	NEWT	GECC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	-0.76	+1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	-0.32	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	-0.28	+0.31

Drawdowns

NEWT vs. GECC - Drawdown Comparison

The maximum NEWT drawdown since its inception was -97.33%, which is greater than GECC's maximum drawdown of -74.01%. Use the drawdown chart below to compare losses from any high point for NEWT and GECC.

Drawdown Indicators

	NEWT	GECC	Difference
Max Drawdown Largest peak-to-trough decline	-97.33%	-74.01%	-23.32%
Max Drawdown (1Y) Largest decline over 1 year	-27.35%	-53.97%	+26.62%
Max Drawdown (3Y) Largest decline over 3 years	-45.77%	-53.97%	+8.20%
Max Drawdown (5Y) Largest decline over 5 years	-65.66%	-57.49%	-8.17%
Max Drawdown (10Y) Largest decline over 10 years	-65.66%	—	—
Current Drawdown Current decline from peak	-46.70%	-65.02%	+18.32%
Average Drawdown Average peak-to-trough decline	-51.66%	-40.34%	-11.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.75%	32.84%	-22.09%

Volatility

NEWT vs. GECC - Volatility Comparison

The current volatility for Newtek Business Services Corp. (NEWT) is 11.62%, while Great Elm Capital Corp. (GECC) has a volatility of 19.72%. This indicates that NEWT experiences smaller price fluctuations and is considered to be less risky than GECC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEWT	GECC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.62%	19.72%	-8.10%
Volatility (6M) Calculated over the trailing 6-month period	26.94%	30.57%	-3.63%
Volatility (1Y) Calculated over the trailing 1-year period	34.49%	39.95%	-5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.18%	30.59%	+10.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.13%	36.80%	+2.33%

Dividends

NEWT vs. GECC - Dividend Comparison

NEWT's dividend yield for the trailing twelve months is around 5.57%, less than GECC's 22.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GECC Great Elm Capital Corp.	22.74%	21.01%	13.19%	14.09%	23.52%	12.99%	31.60%	13.44%	12.69%	10.12%	1.42%	0.00%
NEWT Newtek Business Services Corp.	5.57%	6.70%	5.95%	5.22%	17.54%	11.40%	10.41%	9.49%	10.32%	8.87%	12.14%	28.28%

Financials

NEWT vs. GECC - Profitability Comparison

The chart below illustrates the profitability comparison between Newtek Business Services Corp. and Great Elm Capital Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NEWT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Newtek Business Services Corp. reported a gross profit of 59.99M and revenue of 73.29M. Therefore, the gross margin over that period was 81.9%.

GECC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Great Elm Capital Corp. reported a gross profit of 6.21M and revenue of 6.72M. Therefore, the gross margin over that period was 92.4%.

NEWT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Newtek Business Services Corp. reported an operating income of 46.10M and revenue of 73.29M, resulting in an operating margin of 62.9%.

GECC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Great Elm Capital Corp. reported an operating income of 5.70M and revenue of 6.72M, resulting in an operating margin of 84.8%.

NEWT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Newtek Business Services Corp. reported a net income of 13.40M and revenue of 73.29M, resulting in a net margin of 18.3%.

GECC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Great Elm Capital Corp. reported a net income of 5.07M and revenue of 6.72M, resulting in a net margin of 75.5%.

Frequently Asked Questions

Can I hold both NEWT and GECC in my portfolio?

NEWT and GECC have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEWT or GECC?

GECC has higher volatility (19.72%) compared to NEWT (11.62%). In terms of maximum drawdown, NEWT dropped -97.33% vs GECC's -74.01%.

Which has better risk-adjusted returns?

NEWT currently has the higher Sharpe Ratio (1.06 vs -0.76), 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.