RWAY vs. ARCC
RWAY (Runway Growth Finance Corp.) and ARCC (Ares Capital Corporation) are both stocks. Both are in the Financial Services sector — RWAY in Credit Services, ARCC in Asset Management. Over the past 3 years, RWAY returned -11.98%/yr vs 8.39%/yr for ARCC. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
RWAY vs. ARCC - Performance Comparison
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Returns By Period
In the year-to-date period, RWAY achieves a -32.85% return, which is significantly lower than ARCC's -2.30% return.
RWAY
- 1D
- -1.09%
- 1M
- -0.55%
- 6M
- -34.54%
- YTD
- -32.85%
- 1Y
- -39.47%
- 3Y*
- -11.98%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.29%
ARCC
- 1D
- -0.37%
- 1M
- 0.16%
- 6M
- -0.63%
- YTD
- -2.30%
- 1Y
- -7.66%
- 3Y*
- 8.39%
- 5Y*
- 8.57%
- 10Y*
- 12.33%
- ALL TIME*
- 11.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $81.64M | $84.10M | $93.93M | |
| $2.17M | $3.33M | $3.80M |
RWAY vs. ARCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RWAY Runway Growth Finance Corp. | -32.85% | -6.56% | 1.65% | 25.73% | -0.61% | 1.77% |
ARCC Ares Capital Corporation | -2.30% | 1.07% | 19.78% | 20.03% | -3.84% | 2.56% |
Correlation
The correlation between RWAY and ARCC is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2021 | 0.45 |
The correlation between RWAY and ARCC has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.
Fundamentals
RWAY:
$231.86M
ARCC:
$13.47B
RWAY:
$0.89
ARCC:
$1.35
RWAY:
6.17
ARCC:
13.89
RWAY:
1.24
ARCC:
2.08
RWAY:
1.79
ARCC:
6.28
RWAY:
0.45
ARCC:
0.97
RWAY:
$110.63M
ARCC:
$2.13B
RWAY:
$105.16M
ARCC:
$1.36B
RWAY:
$74.86M
ARCC:
$1.26B
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Return for Risk
RWAY vs. ARCC — Risk / Return Rank
RWAY
ARCC
RWAY vs. ARCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Runway Growth Finance Corp. (RWAY) and Ares Capital Corporation (ARCC). 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.
| RWAY | ARCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.94 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.50 | -0.40 |
| Martin ratioReturn relative to average drawdown | -1.61 | -0.91 | -0.70 |
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Drawdowns
RWAY vs. ARCC - Drawdown Comparison
The maximum RWAY drawdown since its inception was -45.35%, smaller than the maximum ARCC drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for RWAY and ARCC.
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Drawdown Indicators
| RWAY | ARCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.35% | -79.36% | +34.01% |
Max Drawdown (1Y)Largest decline over 1 year | -45.12% | -17.35% | -27.77% |
Max Drawdown (3Y)Largest decline over 3 years | -45.35% | -19.35% | -26.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.77% | — |
Current DrawdownCurrent decline from peak | -43.27% | -11.07% | -32.20% |
Average DrawdownAverage peak-to-trough decline | -11.65% | -9.12% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.05% | 9.51% | +15.54% |
Volatility
RWAY vs. ARCC - Volatility Comparison
Runway Growth Finance Corp. (RWAY) has a higher volatility of 11.99% compared to Ares Capital Corporation (ARCC) at 4.33%. This indicates that RWAY's price experiences larger fluctuations and is considered to be riskier than ARCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWAY | ARCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.99% | 4.33% | +7.66% |
Volatility (6M)Calculated over the trailing 6-month period | 25.09% | 14.79% | +10.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.51% | 18.86% | +9.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.93% | 19.97% | +8.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.93% | 25.58% | +3.35% |
Dividends
RWAY vs. ARCC - Dividend Comparison
RWAY's dividend yield for the trailing twelve months is around 24.73%, more than ARCC's 10.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | 10.23% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
RWAY Runway Growth Finance Corp. | 24.73% | 15.68% | 16.33% | 14.34% | 10.87% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
RWAY vs. ARCC - Financials Comparison
This section allows you to compare key financial metrics between Runway Growth Finance Corp. and Ares Capital 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
RWAY vs. ARCC - Profitability Comparison
RWAY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Runway Growth Finance Corp. reported a gross profit of 0.00 and revenue of 29.45M. Therefore, the gross margin over that period was 0.0%.
ARCC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Ares Capital Corporation reported a gross profit of 408.00M and revenue of 581.00M. Therefore, the gross margin over that period was 70.2%.
RWAY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Runway Growth Finance Corp. reported an operating income of 0.00 and revenue of 29.45M, resulting in an operating margin of 0.0%.
ARCC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Ares Capital Corporation reported an operating income of 394.00M and revenue of 581.00M, resulting in an operating margin of 67.8%.
RWAY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Runway Growth Finance Corp. reported a net income of 0.00 and revenue of 29.45M, resulting in a net margin of 0.0%.
ARCC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Ares Capital Corporation reported a net income of 171.00M and revenue of 581.00M, resulting in a net margin of 29.4%.
Frequently Asked Questions
RWAY and ARCC 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.
RWAY has higher volatility (11.99%) compared to ARCC (4.33%). In terms of maximum drawdown, RWAY dropped -45.35% vs ARCC's -79.36%.
ARCC currently has the higher Sharpe Ratio (-0.46 vs -1.42), 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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