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NNN vs. EXR
Performance
Return for Risk
Drawdowns
Volatility
Dividends
Financials

Performance

NNN vs. EXR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in National Retail Properties, Inc. (NNN) and Extra Space Storage Inc. (EXR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NNN achieves a 16.81% return, which is significantly higher than EXR's 14.12% return. Over the past 10 years, NNN has underperformed EXR with an annualized return of 4.59%, while EXR has yielded a comparatively higher 9.30% annualized return.


NNN

1D
-0.29%
1M
-0.66%
YTD
16.81%
6M
16.43%
1Y
11.62%
3Y*
7.70%
5Y*
4.49%
10Y*
4.59%

EXR

1D
0.98%
1M
3.28%
YTD
14.12%
6M
14.26%
1Y
3.86%
3Y*
4.48%
5Y*
2.17%
10Y*
9.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NNN vs. EXR - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
NNN
National Retail Properties, Inc.
16.81%2.81%-0.06%-0.60%-0.01%23.08%-19.29%14.78%17.82%2.00%
EXR
Extra Space Storage Inc.
14.12%-8.92%-2.81%13.86%-32.82%100.98%13.64%20.71%7.29%17.83%

Correlation

The correlation between NNN and EXR is 0.60, 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

0.60

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (10Y)
Calculated over the trailing 10-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Aug 16, 2004

0.60

The correlation between NNN and EXR has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.

Fundamentals

Market Cap

NNN:

$8.53B

EXR:

$32.02B

EPS

NNN:

$2.05

EXR:

$4.36

PE Ratio

NNN:

21.91

EXR:

33.30

PS Ratio

NNN:

9.07

EXR:

9.26

PB Ratio

NNN:

1.94

EXR:

2.40

Total Revenue (TTM)

NNN:

$935.78M

EXR:

$3.39B

Gross Profit (TTM)

NNN:

$761.54M

EXR:

$345.79M

EBITDA (TTM)

NNN:

$870.06M

EXR:

$2.91B

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Return for Risk

NNN vs. EXR — Risk / Return Rank

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

NNN
NNN Risk / Return Rank: 6262
Overall Rank
NNN Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
NNN Sortino Ratio Rank: 5757
Sortino Ratio Rank
NNN Omega Ratio Rank: 5555
Omega Ratio Rank
NNN Calmar Ratio Rank: 6868
Calmar Ratio Rank
NNN Martin Ratio Rank: 6868
Martin Ratio Rank

EXR
EXR Risk / Return Rank: 4545
Overall Rank
EXR Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
EXR Sortino Ratio Rank: 4040
Sortino Ratio Rank
EXR Omega Ratio Rank: 4040
Omega Ratio Rank
EXR Calmar Ratio Rank: 4848
Calmar Ratio Rank
EXR Martin Ratio Rank: 4848
Martin Ratio Rank
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.

NNN vs. EXR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for National Retail Properties, Inc. (NNN) and Extra Space Storage Inc. (EXR). 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.


NNNEXRDifference
Sharpe ratioReturn per unit of total volatility

+0.54

Sortino ratioReturn per unit of downside risk

+0.70

Omega ratioGain probability vs. loss probability

1.13

1.05

+0.08

Calmar ratioReturn relative to maximum drawdown

1.32

0.23

+1.09

Martin ratioReturn relative to average drawdown

3.03

0.47

+2.56

NNN vs. EXR - Sharpe Ratio Comparison

The current NNN Sharpe Ratio is 0.70, which is higher than the EXR Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of NNN and EXR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

NNN vs. EXR - Drawdown Comparison

The maximum NNN drawdown since its inception was -56.17%, smaller than the maximum EXR drawdown of -71.22%. Use the drawdown chart below to compare losses from any high point for NNN and EXR.


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Drawdown Indicators


NNNEXRDifference

Max Drawdown

Largest peak-to-trough decline

-56.17%

-71.22%

+15.05%

Max Drawdown (1Y)

Largest decline over 1 year

-8.83%

-16.70%

+7.87%

Max Drawdown (3Y)

Largest decline over 3 years

-22.03%

-33.78%

+11.75%

Max Drawdown (5Y)

Largest decline over 5 years

-25.22%

-51.36%

+26.14%

Max Drawdown (10Y)

Largest decline over 10 years

-54.99%

-51.36%

-3.63%

Current Drawdown

Current decline from peak

-3.41%

-22.72%

+19.31%

Average Drawdown

Average peak-to-trough decline

-9.81%

-13.39%

+3.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.84%

8.17%

-4.33%

Volatility

NNN vs. EXR - Volatility Comparison

National Retail Properties, Inc. (NNN) and Extra Space Storage Inc. (EXR) have volatilities of 5.84% and 5.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


NNNEXRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.84%

5.72%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

11.73%

16.85%

-5.12%

Volatility (1Y)

Calculated over the trailing 1-year period

16.73%

24.90%

-8.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.67%

28.23%

-8.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.10%

26.93%

+1.17%

Dividends

NNN vs. EXR - Dividend Comparison

NNN's dividend yield for the trailing twelve months is around 5.33%, more than EXR's 4.46% yield.


PositionTTM20252024202320222021202020192018201720162015
EXR
Extra Space Storage Inc.
4.46%4.98%4.33%4.04%4.08%1.98%3.11%3.37%3.71%3.57%3.79%2.54%
NNN
National Retail Properties, Inc.
5.33%5.96%5.61%5.17%4.72%4.37%5.06%3.79%4.02%4.31%4.03%4.27%

Financials

NNN vs. EXR - Financials Comparison

This section allows you to compare key financial metrics between National Retail Properties, Inc. and Extra Space Storage 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.


Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities


200.00M400.00M600.00M800.00M1.00B20222023202420252026
240.42M
856.03M
(NNN) Total Revenue
(EXR) Total Revenue
Values in USD except per share items

NNN vs. EXR - Profitability Comparison

The chart below illustrates the profitability comparison between National Retail Properties, Inc. and Extra Space Storage Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Gross Margin
Operating Margin
Net Margin
Quarterly
Annual

-50.0%0.0%50.0%100.0%20222023202420252026
95.9%
0
Portfolio components
NNN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Retail Properties, Inc. reported a gross profit of 230.63M and revenue of 240.42M. Therefore, the gross margin over that period was 95.9%.

EXR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Extra Space Storage Inc. reported a gross profit of 0.00 and revenue of 856.03M. Therefore, the gross margin over that period was 0.0%.

NNN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Retail Properties, Inc. reported an operating income of 146.65M and revenue of 240.42M, resulting in an operating margin of 61.0%.

EXR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Extra Space Storage Inc. reported an operating income of 367.55M and revenue of 856.03M, resulting in an operating margin of 42.9%.

NNN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Retail Properties, Inc. reported a net income of 93.95M and revenue of 240.42M, resulting in a net margin of 39.1%.

EXR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Extra Space Storage Inc. reported a net income of 240.98M and revenue of 856.03M, resulting in a net margin of 28.2%.


Frequently Asked Questions


NNN and EXR have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NNN has higher volatility (5.84%) compared to EXR (5.72%). In terms of maximum drawdown, NNN dropped -56.17% vs EXR's -71.22%.

NNN currently has the higher Sharpe Ratio (0.70 vs 0.16), 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.

Portfolio Optimizer

Find the right allocation for NNN and EXR

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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