REFI vs. ACRE
REFI (Chicago Atlantic Real Estate Finance, Inc.) and ACRE (Ares Commercial Real Estate Corporation) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 3 years, REFI returned 3.02%/yr vs -11.85%/yr for ACRE. At a 0.42 correlation, their price movements are largely independent.
Performance
REFI vs. ACRE - Performance Comparison
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Returns By Period
In the year-to-date period, REFI achieves a -2.68% return, which is significantly lower than ACRE's -0.26% return.
REFI
- 1D
- 3.06%
- 1M
- 0.53%
- YTD
- -2.68%
- 6M
- -4.63%
- 1Y
- -6.81%
- 3Y*
- 3.02%
- 5Y*
- —
- 10Y*
- —
ACRE
- 1D
- 0.22%
- 1M
- -3.75%
- YTD
- -0.26%
- 6M
- -7.58%
- 1Y
- 8.41%
- 3Y*
- -11.85%
- 5Y*
- -9.67%
- 10Y*
- 1.22%
REFI vs. ACRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
REFI Chicago Atlantic Real Estate Finance, Inc. | -2.68% | -8.70% | 8.69% | 23.70% | 3.35% | 1.52% |
ACRE Ares Commercial Real Estate Corporation | -0.26% | -7.92% | -34.00% | 15.56% | -20.44% | -1.98% |
Correlation
The correlation between REFI and ACRE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2021 | 0.42 |
The correlation between REFI and ACRE shifts across timeframes, from 0.42 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
REFI:
$245.99M
ACRE:
$255.59M
REFI:
$226.63
ACRE:
-$0.36
REFI:
5.54
ACRE:
4.66
REFI:
0.00
ACRE:
0.52
REFI:
$44.35M
ACRE:
$54.71M
REFI:
$42.41M
ACRE:
$25.31M
REFI:
$8.16M
ACRE:
$30.62M
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Return for Risk
REFI vs. ACRE — Risk / Return Rank
REFI
ACRE
REFI vs. ACRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chicago Atlantic Real Estate Finance, Inc. (REFI) and Ares Commercial Real Estate Corporation (ACRE). 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.
| REFI | ACRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.07 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 0.48 | -0.94 |
| Martin ratioReturn relative to average drawdown | -0.82 | 0.97 | -1.79 |
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Drawdowns
REFI vs. ACRE - Drawdown Comparison
The maximum REFI drawdown since its inception was -26.55%, smaller than the maximum ACRE drawdown of -75.68%. Use the drawdown chart below to compare losses from any high point for REFI and ACRE.
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Drawdown Indicators
| REFI | ACRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.55% | -75.68% | +49.13% |
Max Drawdown (1Y)Largest decline over 1 year | -14.71% | -17.69% | +2.98% |
Max Drawdown (3Y)Largest decline over 3 years | -19.25% | -61.28% | +42.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -67.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.68% | — |
Current DrawdownCurrent decline from peak | -15.63% | -51.39% | +35.76% |
Average DrawdownAverage peak-to-trough decline | -9.93% | -19.90% | +9.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.28% | 8.71% | -0.43% |
Volatility
REFI vs. ACRE - Volatility Comparison
The current volatility for Chicago Atlantic Real Estate Finance, Inc. (REFI) is 6.25%, while Ares Commercial Real Estate Corporation (ACRE) has a volatility of 10.73%. This indicates that REFI experiences smaller price fluctuations and is considered to be less risky than ACRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REFI | ACRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 10.73% | -4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 16.18% | 24.56% | -8.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.78% | 37.57% | -13.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.32% | 35.45% | -11.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.32% | 45.08% | -20.76% |
Dividends
REFI vs. ACRE - Dividend Comparison
REFI's dividend yield for the trailing twelve months is around 16.42%, more than ACRE's 12.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACRE Ares Commercial Real Estate Corporation | 12.99% | 12.55% | 16.98% | 13.13% | 13.61% | 9.63% | 11.08% | 8.33% | 8.90% | 8.37% | 7.57% | 8.74% |
REFI Chicago Atlantic Real Estate Finance, Inc. | 16.42% | 15.33% | 13.36% | 13.41% | 13.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
REFI vs. ACRE - Financials Comparison
This section allows you to compare key financial metrics between Chicago Atlantic Real Estate Finance, Inc. and Ares Commercial Real Estate Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
REFI and ACRE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACRE has higher volatility (10.73%) compared to REFI (6.25%). In terms of maximum drawdown, REFI dropped -26.55% vs ACRE's -75.68%.
ACRE currently has the higher Sharpe Ratio (0.22 vs -0.29), 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.
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