NREF vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about NexPoint Real Estate Finance, Inc. (NREF) and S&P 500 Index (^GSPC).

Performance

NREF vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NexPoint Real Estate Finance, Inc. (NREF) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

NREF vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NREF NexPoint Real Estate Finance, Inc.	-0.84%	2.28%	13.51%	17.36%	-8.90%	27.81%	-2.81%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	12.87%

Returns By Period

In the year-to-date period, NREF achieves a -0.84% return, which is significantly higher than ^GSPC's -4.63% return.

NREF

• 1D: 0.67%
• 1M: -3.77%
• YTD: -0.84%
• 6M: 1.86%
• 1Y: 0.85%
• 3Y*: 9.52%
• 5Y*: 5.49%
• 10Y*: —

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

NREF vs. ^GSPC — Risk / Return Rank

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

NREF

NREF Risk / Return Rank: 40
NREF Sharpe Ratio Rank: 42
NREF Sortino Ratio Rank: 36
NREF Omega Ratio Rank: 35
NREF Calmar Ratio Rank: 44
NREF Martin Ratio Rank: 44

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

NREF vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NexPoint Real Estate Finance, Inc. (NREF) and S&P 500 Index (^GSPC). 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.

	NREF	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.03	0.90	-0.87
Sortino ratio Return per unit of downside risk	0.24	1.39	-1.15
Omega ratio Gain probability vs. loss probability	1.03	1.21	-0.18
Calmar ratio Return relative to maximum drawdown	0.09	1.40	-1.31
Martin ratio Return relative to average drawdown	0.23	6.61	-6.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NREF vs. ^GSPC - Sharpe Ratio Comparison

The current NREF Sharpe Ratio is 0.03, which is lower than the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of NREF and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NREF	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.03	0.90	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.61	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.46	-0.30

Correlation

The correlation between NREF and ^GSPC is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

NREF vs. ^GSPC - Drawdown Comparison

The maximum NREF drawdown since its inception was -66.09%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for NREF and ^GSPC.

Drawdown Indicators

	NREF	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-66.09%	-56.78%	-9.31%
Max Drawdown (1Y) Largest decline over 1 year	-14.80%	-12.14%	-2.66%
Max Drawdown (5Y) Largest decline over 5 years	-44.78%	-25.43%	-19.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-10.35%	-6.45%	-3.90%
Average Drawdown Average peak-to-trough decline	-17.20%	-10.75%	-6.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.68%	2.57%	+4.11%

Volatility

NREF vs. ^GSPC - Volatility Comparison

NexPoint Real Estate Finance, Inc. (NREF) has a higher volatility of 8.66% compared to S&P 500 Index (^GSPC) at 5.34%. This indicates that NREF's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NREF	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.66%	5.34%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	17.31%	9.54%	+7.77%
Volatility (1Y) Calculated over the trailing 1-year period	28.59%	18.33%	+10.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.24%	16.91%	+16.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.26%	18.05%	+28.21%