REFI vs. O

Last updated Apr 2, 2026

Compare and contrast key facts about Chicago Atlantic Real Estate Finance, Inc. (REFI) and Realty Income Corporation (O).

Performance

REFI vs. O - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chicago Atlantic Real Estate Finance, Inc. (REFI) and Realty Income Corporation (O). The values are adjusted to include any dividend payments, if applicable.

REFI vs. O - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
REFI Chicago Atlantic Real Estate Finance, Inc.	-6.59%	-8.70%	8.69%	23.70%	3.35%	0.97%
O Realty Income Corporation	11.21%	12.20%	-2.11%	-4.55%	-7.38%	4.34%

Fundamentals

EPS REFI : $1.68K O : $1.75
PE Ratio REFI : 0.01 O : 35.44
PEG Ratio REFI : 0.00 O : 7.26
PS Ratio REFI : 5.71 O : 6.53
Total Revenue (TTM) REFI : $41.32M O : $5.75B
Gross Profit (TTM) REFI : $41.32M O : -$3.85B
EBITDA (TTM) REFI : $0.00 O : $4.22B

Returns By Period

In the year-to-date period, REFI achieves a -6.59% return, which is significantly lower than O's 11.21% return.

REFI

• 1D: -2.92%
• 1M: -6.82%
• YTD: -6.59%
• 6M: -5.56%
• 1Y: -13.82%
• 3Y*: 7.29%
• 5Y*: —
• 10Y*: —

O

• 1D: 1.14%
• 1M: -8.00%
• YTD: 11.21%
• 6M: 5.16%
• 1Y: 14.40%
• 3Y*: 4.90%
• 5Y*: 4.79%
• 10Y*: 5.07%

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

Return for Risk

REFI vs. O — Risk / Return Rank

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

REFI

REFI Risk / Return Rank: 12
REFI Sharpe Ratio Rank: 14
REFI Sortino Ratio Rank: 15
REFI Omega Ratio Rank: 16
REFI Calmar Ratio Rank: 10
REFI Martin Ratio Rank: 5

O

O Risk / Return Rank: 65
O Sharpe Ratio Rank: 70
O Sortino Ratio Rank: 61
O Omega Ratio Rank: 58
O Calmar Ratio Rank: 65
O Martin Ratio Rank: 70

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.

REFI vs. O - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chicago Atlantic Real Estate Finance, Inc. (REFI) and Realty Income Corporation (O). 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.

	REFI	O	Difference
Sharpe ratio Return per unit of total volatility	-0.61	0.86	-1.47
Sortino ratio Return per unit of downside risk	-0.73	1.24	-1.97
Omega ratio Gain probability vs. loss probability	0.91	1.15	-0.24
Calmar ratio Return relative to maximum drawdown	-0.85	1.19	-2.04
Martin ratio Return relative to average drawdown	-1.65	3.57	-5.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

REFI vs. O - Sharpe Ratio Comparison

The current REFI Sharpe Ratio is -0.61, which is lower than the O Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of REFI and O, 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

	REFI	O	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	0.86	-1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.25	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.49	-0.31

Correlation

The correlation between REFI and O is 0.26, 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

REFI vs. O - Dividend Comparison

REFI's dividend yield for the trailing twelve months is around 17.11%, more than O's 5.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REFI Chicago Atlantic Real Estate Finance, Inc.	17.11%	15.33%	13.36%	13.41%	13.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
O Realty Income Corporation	5.22%	6.19%	5.37%	5.33%	4.68%	3.87%	4.51%	3.69%	4.19%	4.45%	4.18%	4.41%

Drawdowns

REFI vs. O - Drawdown Comparison

The maximum REFI drawdown since its inception was -26.55%, smaller than the maximum O drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for REFI and O.

Drawdown Indicators

	REFI	O	Difference
Max Drawdown Largest peak-to-trough decline	-26.55%	-48.45%	+21.90%
Max Drawdown (1Y) Largest decline over 1 year	-15.71%	-11.10%	-4.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.28%	—
Current Drawdown Current decline from peak	-19.02%	-8.00%	-11.02%
Average Drawdown Average peak-to-trough decline	-9.70%	-9.22%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.04%	3.70%	+4.34%

Volatility

REFI vs. O - Volatility Comparison

Chicago Atlantic Real Estate Finance, Inc. (REFI) has a higher volatility of 7.42% compared to Realty Income Corporation (O) at 4.53%. This indicates that REFI's price experiences larger fluctuations and is considered to be riskier than O based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REFI	O	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.42%	4.53%	+2.89%
Volatility (6M) Calculated over the trailing 6-month period	16.81%	11.31%	+5.50%
Volatility (1Y) Calculated over the trailing 1-year period	22.76%	16.84%	+5.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.28%	18.89%	+5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.28%	25.69%	-1.41%

Financials