NLCP vs. VICI

Last updated Jun 3, 2026

NLCP (NewLake Capital Partners, Inc.) and VICI (VICI Properties Inc.) are both stocks. Both are in the Real Estate sector — NLCP in REIT - Specialty, VICI in REIT - Diversified. Over the past 3 years, NLCP returned 18.18%/yr vs 1.02%/yr for VICI. At a 0.15 correlation, their price movements are largely independent.

Performance

NLCP vs. VICI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NewLake Capital Partners, Inc. (NLCP) and VICI Properties Inc. (VICI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NLCP achieves a -3.96% return, which is significantly lower than VICI's -0.47% return.

NLCP

• 1D: -4.01%
• 1M: 3.48%
• YTD: -3.96%
• 6M: 24.88%
• 1Y: 16.03%
• 3Y*: 18.18%
• 5Y*: —
• 10Y*: —

VICI

• 1D: -0.83%
• 1M: -3.64%
• YTD: -0.47%
• 6M: -0.03%
• 1Y: -8.00%
• 3Y*: 1.02%
• 5Y*: 2.49%
• 10Y*: —

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

NLCP vs. VICI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NLCP NewLake Capital Partners, Inc.	-3.96%	2.42%	19.43%	11.85%	-39.27%	-2.96%
VICI VICI Properties Inc.	-0.47%	1.90%	-3.07%	3.58%	13.01%	5.34%

Correlation

The correlation between NLCP and VICI is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (All Time) Calculated using the full available price history since Aug 23, 2021	0.15

Fundamentals

Market Cap NLCP : $312.14M VICI : $29.43B
EPS NLCP : $1.23 VICI : $2.92
PE Ratio NLCP : 12.09 VICI : 9.44
PEG Ratio NLCP : 0.40 VICI : 0.53
PS Ratio NLCP : 6.21 VICI : 7.24
PB Ratio NLCP : 0.81 VICI : 1.04
Total Revenue (TTM) NLCP : $50.17M VICI : $4.05B
Gross Profit (TTM) NLCP : $6.26M VICI : $3.01B
EBITDA (TTM) NLCP : $42.43M VICI : $2.90B

Return for Risk

NLCP vs. VICI — Risk / Return Rank

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

NLCP

NLCP Risk / Return Rank: 60
NLCP Sharpe Ratio Rank: 62
NLCP Sortino Ratio Rank: 58
NLCP Omega Ratio Rank: 55
NLCP Calmar Ratio Rank: 63
NLCP Martin Ratio Rank: 61

VICI

VICI Risk / Return Rank: 21
VICI Sharpe Ratio Rank: 19
VICI Sortino Ratio Rank: 18
VICI Omega Ratio Rank: 18
VICI Calmar Ratio Rank: 25
VICI Martin Ratio Rank: 26

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.

NLCP vs. VICI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NewLake Capital Partners, Inc. (NLCP) and VICI Properties Inc. (VICI). 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.

	NLCP	VICI	Difference
Sharpe ratio Return per unit of total volatility	0.68	-0.49	+1.17
Sortino ratio Return per unit of downside risk	1.22	-0.58	+1.81
Omega ratio Gain probability vs. loss probability	1.14	0.93	+0.21
Calmar ratio Return relative to maximum drawdown	1.14	-0.44	+1.57
Martin ratio Return relative to average drawdown	2.35	-0.76	+3.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NLCP vs. VICI - Sharpe Ratio Comparison

The current NLCP Sharpe Ratio is 0.68, which is higher than the VICI Sharpe Ratio of -0.49. The chart below compares the historical Sharpe Ratios of NLCP and VICI, 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

	NLCP	VICI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	-0.49	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	0.35	-0.52

Drawdowns

NLCP vs. VICI - Drawdown Comparison

The maximum NLCP drawdown since its inception was -58.59%, roughly equal to the maximum VICI drawdown of -60.21%. Use the drawdown chart below to compare losses from any high point for NLCP and VICI.

Drawdown Indicators

	NLCP	VICI	Difference
Max Drawdown Largest peak-to-trough decline	-58.59%	-60.21%	+1.62%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-17.88%	+3.10%
Max Drawdown (3Y) Largest decline over 3 years	-35.06%	-17.88%	-17.18%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.61%	—
Current Drawdown Current decline from peak	-27.36%	-15.01%	-12.35%
Average Drawdown Average peak-to-trough decline	-33.76%	-8.16%	-25.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.16%	10.31%	-3.15%

Volatility

NLCP vs. VICI - Volatility Comparison

NewLake Capital Partners, Inc. (NLCP) has a higher volatility of 8.87% compared to VICI Properties Inc. (VICI) at 4.47%. This indicates that NLCP's price experiences larger fluctuations and is considered to be riskier than VICI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NLCP	VICI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.87%	4.47%	+4.40%
Volatility (6M) Calculated over the trailing 6-month period	19.39%	12.28%	+7.11%
Volatility (1Y) Calculated over the trailing 1-year period	23.68%	16.42%	+7.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.97%	20.97%	+9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.97%	29.29%	+0.68%

Dividends

NLCP vs. VICI - Dividend Comparison

NLCP's dividend yield for the trailing twelve months is around 11.58%, more than VICI's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
NLCP NewLake Capital Partners, Inc.	11.58%	10.80%	9.71%	9.81%	8.99%	1.50%	0.00%	0.00%	0.00%
VICI VICI Properties Inc.	6.47%	6.28%	5.80%	5.05%	4.63%	4.58%	4.92%	4.58%	5.31%

Financials

NLCP vs. VICI - Profitability Comparison

The chart below illustrates the profitability comparison between NewLake Capital Partners, Inc. and VICI Properties Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NLCP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NewLake Capital Partners, Inc. reported a gross profit of 0.00 and revenue of 12.31M. Therefore, the gross margin over that period was 0.0%.

VICI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, VICI Properties Inc. reported a gross profit of 0.00 and revenue of 1.02B. Therefore, the gross margin over that period was 0.0%.

NLCP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NewLake Capital Partners, Inc. reported an operating income of 6.01M and revenue of 12.31M, resulting in an operating margin of 48.9%.

VICI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, VICI Properties Inc. reported an operating income of 0.00 and revenue of 1.02B, resulting in an operating margin of 0.0%.

NLCP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NewLake Capital Partners, Inc. reported a net income of 5.78M and revenue of 12.31M, resulting in a net margin of 46.9%.

VICI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, VICI Properties Inc. reported a net income of 872.39M and revenue of 1.02B, resulting in a net margin of 85.7%.

Frequently Asked Questions

Can I hold both NLCP and VICI in my portfolio?

NLCP and VICI have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NLCP or VICI?

NLCP has higher volatility (8.87%) compared to VICI (4.47%). In terms of maximum drawdown, NLCP dropped -58.59% vs VICI's -60.21%.

Which has better risk-adjusted returns?

NLCP currently has the higher Sharpe Ratio (0.68 vs -0.49), 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.