PFX vs. NMFC

Last updated Jun 4, 2026

PFX (PhenixFIN Corporation) and NMFC (New Mountain Finance Corporation) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, PFX returned -6.38%/yr vs 6.17%/yr for NMFC. At a 0.24 correlation, their price movements are largely independent.

Performance

PFX vs. NMFC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PhenixFIN Corporation (PFX) and New Mountain Finance Corporation (NMFC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFX achieves a 3.17% return, which is significantly higher than NMFC's -11.34% return. Over the past 10 years, PFX has underperformed NMFC with an annualized return of -6.38%, while NMFC has yielded a comparatively higher 6.17% annualized return.

PFX

• 1D: 1.11%
• 1M: 14.52%
• YTD: 3.17%
• 6M: 6.00%
• 1Y: -6.98%
• 3Y*: 11.39%
• 5Y*: 2.53%
• 10Y*: -6.38%

NMFC

• 1D: -3.33%
• 1M: -8.53%
• YTD: -11.34%
• 6M: -13.00%
• 1Y: -16.26%
• 3Y*: -2.19%
• 5Y*: 0.56%
• 10Y*: 6.17%

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

PFX vs. NMFC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFX PhenixFIN Corporation	3.17%	-10.14%	23.30%	36.06%	-25.52%	47.74%	-35.07%	-14.53%	-42.50%	-22.50%
NMFC New Mountain Finance Corporation	-11.34%	-7.17%	-0.95%	15.47%	-0.55%	31.94%	-7.13%	20.64%	2.78%	5.71%

Correlation

The correlation between PFX and NMFC is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since May 23, 2011	0.24

The correlation between PFX and NMFC shifts across timeframes, from 0.05 (3 years) to 0.24 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS PFX : -$1.09 NMFC : $328.53
PS Ratio PFX : 0.02 NMFC : 2.31
Total Revenue (TTM) PFX : $4.15B NMFC : $315.55M
Gross Profit (TTM) PFX : $3.13B NMFC : $203.95M
EBITDA (TTM) PFX : $2.35B NMFC : $106.53M

Return for Risk

PFX vs. NMFC — Risk / Return Rank

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

PFX

PFX Risk / Return Rank: 30
PFX Sharpe Ratio Rank: 32
PFX Sortino Ratio Rank: 27
PFX Omega Ratio Rank: 27
PFX Calmar Ratio Rank: 31
PFX Martin Ratio Rank: 31

NMFC

NMFC Risk / Return Rank: 12
NMFC Sharpe Ratio Rank: 11
NMFC Sortino Ratio Rank: 12
NMFC Omega Ratio Rank: 13
NMFC Calmar Ratio Rank: 16
NMFC Martin Ratio Rank: 10

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.

PFX vs. NMFC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PhenixFIN Corporation (PFX) and New Mountain Finance Corporation (NMFC). 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.

	PFX	NMFC	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	-0.73	+0.51
Sortino ratio: Return per unit of downside risk	-0.10	-0.95	+0.85
Omega ratio: Gain probability vs. loss probability	0.99	0.89	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.29	-0.66	+0.38
Martin ratio: Return relative to average drawdown	-0.54	-1.32	+0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFX vs. NMFC - Sharpe Ratio Comparison

The current PFX Sharpe Ratio is -0.22, which is higher than the NMFC Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of PFX and NMFC, 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

	PFX	NMFC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.22	-0.73	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.03	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.13	0.24	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.31	-0.41

Drawdowns

PFX vs. NMFC - Drawdown Comparison

The maximum PFX drawdown since its inception was -95.38%, which is greater than NMFC's maximum drawdown of -64.16%. Use the drawdown chart below to compare losses from any high point for PFX and NMFC.

Drawdown Indicators

	PFX	NMFC	Difference
Max Drawdown Largest peak-to-trough decline	-95.38%	-64.16%	-31.22%
Max Drawdown (1Y) Largest decline over 1 year	-24.38%	-24.56%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-29.57%	-27.77%	-1.80%
Max Drawdown (5Y) Largest decline over 5 years	-29.57%	-27.77%	-1.80%
Max Drawdown (10Y) Largest decline over 10 years	-94.31%	-64.16%	-30.15%
Current Drawdown Current decline from peak	-67.99%	-22.90%	-45.09%
Average Drawdown Average peak-to-trough decline	-46.81%	-5.43%	-41.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.01%	12.31%	+0.70%

Volatility

PFX vs. NMFC - Volatility Comparison

PhenixFIN Corporation (PFX) has a higher volatility of 13.26% compared to New Mountain Finance Corporation (NMFC) at 6.32%. This indicates that PFX's price experiences larger fluctuations and is considered to be riskier than NMFC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFX	NMFC	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.26%	6.32%	+6.94%
Volatility (6M) Calculated over the trailing 6-month period	29.18%	17.96%	+11.22%
Volatility (1Y) Calculated over the trailing 1-year period	32.08%	22.43%	+9.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.20%	18.49%	+6.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.25%	25.89%	+24.36%

Dividends

PFX vs. NMFC - Dividend Comparison

PFX's dividend yield for the trailing twelve months is around 0.16%, less than NMFC's 16.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NMFC New Mountain Finance Corporation	16.35%	13.90%	12.17%	11.40%	9.86%	8.76%	10.92%	9.90%	10.81%	10.04%	9.65%	10.45%
PFX PhenixFIN Corporation	0.16%	3.24%	2.59%	0.00%	0.39%	0.00%	0.00%	4.72%	17.29%	13.41%	13.85%	15.96%

Financials

Frequently Asked Questions

Can I hold both PFX and NMFC in my portfolio?

PFX and NMFC have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFX or NMFC?

PFX has higher volatility (13.26%) compared to NMFC (6.32%). In terms of maximum drawdown, PFX dropped -95.38% vs NMFC's -64.16%.

Which has better risk-adjusted returns?

PFX currently has the higher Sharpe Ratio (-0.22 vs -0.73), 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.