OCSL vs. SAND

Last updated Apr 1, 2026

Compare and contrast key facts about Oaktree Specialty Lending Corporation (OCSL) and Sandstorm Gold Ltd. (SAND).

Performance

OCSL vs. SAND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oaktree Specialty Lending Corporation (OCSL) and Sandstorm Gold Ltd. (SAND). The values are adjusted to include any dividend payments, if applicable.

OCSL vs. SAND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OCSL Oaktree Specialty Lending Corporation	-7.99%	-6.06%	-15.15%	11.25%	3.74%	44.99%	11.00%	38.74%	-6.31%	-1.09%
SAND Sandstorm Gold Ltd.	0.00%	118.72%	12.15%	-3.32%	-14.29%	-13.53%	-3.76%	61.61%	-7.62%	27.95%

Fundamentals

Market Cap OCSL : $995.37M SAND : $3.64B
EPS OCSL : $0.72 SAND : $0.11
PE Ratio OCSL : 15.70 SAND : 105.77
PEG Ratio OCSL : 1.29 SAND : 4.56
PS Ratio OCSL : 4.82 SAND : 18.81
PB Ratio OCSL : 0.69 SAND : 2.55
Total Revenue (TTM) OCSL : $206.63M SAND : $193.59M
Gross Profit (TTM) OCSL : $67.34M SAND : $114.43M
EBITDA (TTM) OCSL : $53.57M SAND : $144.88M

Returns By Period

OCSL

• 1D: 0.80%
• 1M: 3.37%
• YTD: -7.99%
• 6M: -7.45%
• 1Y: -16.58%
• 3Y*: -4.56%
• 5Y*: 1.42%
• 10Y*: 7.28%

SAND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

OCSL vs. SAND — Risk / Return Rank

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

OCSL

OCSL Risk / Return Rank: 12
OCSL Sharpe Ratio Rank: 13
OCSL Sortino Ratio Rank: 14
OCSL Omega Ratio Rank: 15
OCSL Calmar Ratio Rank: 13
OCSL Martin Ratio Rank: 6

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.

OCSL vs. SAND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oaktree Specialty Lending Corporation (OCSL) and Sandstorm Gold Ltd. (SAND). 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.

	OCSL	SAND	Difference
Sharpe ratio Return per unit of total volatility	-0.67	—	—
Sortino ratio Return per unit of downside risk	-0.81	—	—
Omega ratio Gain probability vs. loss probability	0.90	—	—
Calmar ratio Return relative to maximum drawdown	-0.81	—	—
Martin ratio Return relative to average drawdown	-1.68	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OCSL	SAND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.67	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	—	—

Correlation

The correlation between OCSL and SAND is 0.13, 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.

Dividends

OCSL vs. SAND - Dividend Comparison

OCSL's dividend yield for the trailing twelve months is around 14.34%, more than SAND's 0.36% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OCSL Oaktree Specialty Lending Corporation	14.34%	13.27%	14.40%	11.12%	11.86%	7.37%	7.27%	6.96%	8.75%	8.38%	13.41%	10.84%
SAND Sandstorm Gold Ltd.	0.36%	0.47%	1.06%	1.19%	1.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	OCSL	SAND	Difference
Max Drawdown Largest peak-to-trough decline	-59.52%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-21.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.32%	—	—
Current Drawdown Current decline from peak	-30.47%	—	—
Average Drawdown Average peak-to-trough decline	-16.33%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	10.30%	—	—

Volatility

Volatility by Period

	OCSL	SAND	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.76%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.68%	—	—

Financials

OCSL vs. SAND - Profitability Comparison

The chart below illustrates the profitability comparison between Oaktree Specialty Lending Corporation and Sandstorm Gold Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OCSL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Oaktree Specialty Lending Corporation reported a gross profit of 0.00 and revenue of 66.92M. Therefore, the gross margin over that period was 0.0%.

SAND - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Sandstorm Gold Ltd. reported a gross profit of 33.10M and revenue of 51.42M. Therefore, the gross margin over that period was 64.4%.

OCSL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Oaktree Specialty Lending Corporation reported an operating income of 0.00 and revenue of 66.92M, resulting in an operating margin of 0.0%.

SAND - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Sandstorm Gold Ltd. reported an operating income of 26.02M and revenue of 51.42M, resulting in an operating margin of 50.6%.

OCSL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Oaktree Specialty Lending Corporation reported a net income of 36.74M and revenue of 66.92M, resulting in a net margin of 54.9%.

SAND - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Sandstorm Gold Ltd. reported a net income of 15.46M and revenue of 51.42M, resulting in a net margin of 30.1%.