PCFT.L vs. TPL

Last updated Jun 4, 2026

PCFT.L (Polar Capital Global Financials Trust plc) and TPL (Texas Pacific Land Corporation) are both stocks. PCFT.L operates in Collective Investments (Financial Services), while TPL operates in Oil & Gas E&P (Energy). Over the past 10 years, PCFT.L returned 11.68%/yr vs 38.26%/yr for TPL. At a 0.12 correlation, their price movements are largely independent.

Performance

PCFT.L vs. TPL - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Polar Capital Global Financials Trust plc (PCFT.L) and Texas Pacific Land Corporation (TPL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PCFT.L is traded in GBp, while TPL is traded in USD. To make them comparable, the TPL values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, PCFT.L achieves a -1.34% return, which is significantly lower than TPL's 42.52% return. Over the past 10 years, PCFT.L has underperformed TPL with an annualized return of 11.68%, while TPL has yielded a comparatively higher 38.26% annualized return.

PCFT.L

• 1D: 0.22%
• 1M: 0.22%
• YTD: -1.34%
• 6M: 4.53%
• 1Y: 12.53%
• 3Y*: 20.67%
• 5Y*: 8.90%
• 10Y*: 11.68%

TPL

• 1D: 9.98%
• 1M: -5.12%
• YTD: 42.52%
• 6M: 33.06%
• 1Y: 9.78%
• 3Y*: 36.86%
• 5Y*: 22.55%
• 10Y*: 38.26%

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

PCFT.L vs. TPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCFT.L Polar Capital Global Financials Trust plc	-1.34%	24.68%	31.76%	0.81%	-9.24%	25.04%	0.15%	24.36%	-13.50%	15.53%
TPL Texas Pacific Land Corporation	42.52%	-27.20%	119.08%	-35.78%	114.04%	74.89%	-7.49%	39.08%	29.20%	38.10%

Correlation

The correlation between PCFT.L and TPL is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jul 9, 2013	0.12

The correlation between PCFT.L and TPL shifts across timeframes, from -0.02 (1 year) to 0.14 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PCFT.L : £542.32M TPL : $28.07B
EPS PCFT.L : £0.90 TPL : $7.30
PE Ratio PCFT.L : 2.47 TPL : 55.75
PEG Ratio PCFT.L : 0.00 TPL : 2.95
PS Ratio PCFT.L : 2.94 TPL : 33.46
PB Ratio PCFT.L : 1.44 TPL : 18.04
Total Revenue (TTM) PCFT.L : £184.77M TPL : $839.03M
Gross Profit (TTM) PCFT.L : £181.04M TPL : $625.27M
EBITDA (TTM) PCFT.L : £232.42M TPL : $690.06M

Return for Risk

PCFT.L vs. TPL — Risk / Return Rank

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

PCFT.L

PCFT.L Risk / Return Rank: 63
PCFT.L Sharpe Ratio Rank: 67
PCFT.L Sortino Ratio Rank: 59
PCFT.L Omega Ratio Rank: 59
PCFT.L Calmar Ratio Rank: 62
PCFT.L Martin Ratio Rank: 67

TPL

TPL Risk / Return Rank: 46
TPL Sharpe Ratio Rank: 47
TPL Sortino Ratio Rank: 44
TPL Omega Ratio Rank: 44
TPL Calmar Ratio Rank: 47
TPL Martin Ratio Rank: 47

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.

PCFT.L vs. TPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polar Capital Global Financials Trust plc (PCFT.L) and Texas Pacific Land Corporation (TPL). 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.

	PCFT.L	TPL	Difference
Sharpe ratio: Return per unit of total volatility	0.81	0.21	+0.60
Sortino ratio: Return per unit of downside risk	1.22	0.62	+0.59
Omega ratio: Gain probability vs. loss probability	1.15	1.08	+0.07
Calmar ratio: Return relative to maximum drawdown	1.03	0.31	+0.72
Martin ratio: Return relative to average drawdown	3.10	0.62	+2.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCFT.L vs. TPL - Sharpe Ratio Comparison

The current PCFT.L Sharpe Ratio is 0.81, which is higher than the TPL Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of PCFT.L and TPL, 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

	PCFT.L	TPL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	0.21	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.49	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.82	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.63	-0.15

Drawdowns

PCFT.L vs. TPL - Drawdown Comparison

The maximum PCFT.L drawdown since its inception was -40.21%, smaller than the maximum TPL drawdown of -61.16%. Use the drawdown chart below to compare losses from any high point for PCFT.L and TPL.

Drawdown Indicators

	PCFT.L	TPL	Difference
Max Drawdown Largest peak-to-trough decline	-40.21%	-61.16%	+20.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.08%	-31.85%	+19.77%
Max Drawdown (3Y) Largest decline over 3 years	-14.81%	-55.39%	+40.58%
Max Drawdown (5Y) Largest decline over 5 years	-27.05%	-57.00%	+29.95%
Max Drawdown (10Y) Largest decline over 10 years	-40.21%	-61.16%	+20.95%
Current Drawdown Current decline from peak	-4.26%	-33.51%	+29.25%
Average Drawdown Average peak-to-trough decline	-8.05%	-22.20%	+14.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	16.38%	-12.35%

Volatility

PCFT.L vs. TPL - Volatility Comparison

The current volatility for Polar Capital Global Financials Trust plc (PCFT.L) is 3.66%, while Texas Pacific Land Corporation (TPL) has a volatility of 14.72%. This indicates that PCFT.L experiences smaller price fluctuations and is considered to be less risky than TPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCFT.L	TPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	14.72%	-11.06%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	38.32%	-25.85%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	46.78%	-31.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.56%	45.80%	-28.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.85%	46.89%	-27.04%

Dividends

PCFT.L vs. TPL - Dividend Comparison

PCFT.L's dividend yield for the trailing twelve months is around 4.07%, more than TPL's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCFT.L Polar Capital Global Financials Trust plc	4.07%	2.76%	2.40%	3.01%	2.88%	2.32%	2.51%	4.03%	2.68%	2.06%	2.10%	2.97%
TPL Texas Pacific Land Corporation	0.56%	0.74%	1.37%	0.83%	1.37%	0.88%	2.20%	0.22%	0.55%	0.30%	0.10%	0.22%

Financials

Frequently Asked Questions

Can I hold both PCFT.L and TPL in my portfolio?

PCFT.L and TPL have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.