RWAY vs. PNNT
RWAY (Runway Growth Finance Corp.) and PNNT (PennantPark Investment Corporation) are both stocks. Both are in the Financial Services sector — RWAY in Credit Services, PNNT in Asset Management. Over the past 3 years, RWAY returned -10.18%/yr vs -1.80%/yr for PNNT. At a 0.43 correlation, their price movements are largely independent.
Performance
RWAY vs. PNNT - Performance Comparison
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Returns By Period
In the year-to-date period, RWAY achieves a -33.71% return, which is significantly higher than PNNT's -35.79% return.
RWAY
- 1D
- 0.56%
- 1M
- -14.72%
- YTD
- -33.71%
- 6M
- -32.50%
- 1Y
- -37.84%
- 3Y*
- -10.18%
- 5Y*
- —
- 10Y*
- —
PNNT
- 1D
- 3.29%
- 1M
- -7.28%
- YTD
- -35.79%
- 6M
- -33.79%
- 1Y
- -38.27%
- 3Y*
- -1.80%
- 5Y*
- -0.88%
- 10Y*
- 5.59%
RWAY vs. PNNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RWAY Runway Growth Finance Corp. | -33.71% | -6.56% | 1.65% | 25.73% | -0.61% | 1.77% |
PNNT PennantPark Investment Corporation | -35.79% | -2.96% | 16.56% | 37.25% | -8.90% | 3.76% |
Correlation
The correlation between RWAY and PNNT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2021 | 0.43 |
The correlation between RWAY and PNNT has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
Fundamentals
RWAY:
$0.88
PNNT:
$302.41
RWAY:
6.12
PNNT:
0.01
RWAY:
1.23
PNNT:
0.00
RWAY:
1.78
PNNT:
1.97
RWAY:
$110.63M
PNNT:
$85.01M
RWAY:
$105.16M
PNNT:
$24.12M
RWAY:
$74.86M
PNNT:
$16.10M
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Return for Risk
RWAY vs. PNNT — Risk / Return Rank
RWAY
PNNT
RWAY vs. PNNT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Runway Growth Finance Corp. (RWAY) and PennantPark Investment Corporation (PNNT). 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 | PNNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.76 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.82 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.80 | -1.77 | -0.03 |
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Drawdowns
RWAY vs. PNNT - Drawdown Comparison
The maximum RWAY drawdown since its inception was -44.31%, smaller than the maximum PNNT drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for RWAY and PNNT.
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Drawdown Indicators
| RWAY | PNNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.31% | -82.16% | +37.85% |
Max Drawdown (1Y)Largest decline over 1 year | -44.31% | -47.09% | +2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -44.31% | -47.09% | +2.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.09% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -69.14% | — |
Current DrawdownCurrent decline from peak | -44.00% | -45.35% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -10.92% | -15.33% | +4.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.03% | 21.67% | -0.64% |
Volatility
RWAY vs. PNNT - Volatility Comparison
Runway Growth Finance Corp. (RWAY) has a higher volatility of 11.42% compared to PennantPark Investment Corporation (PNNT) at 10.55%. This indicates that RWAY's price experiences larger fluctuations and is considered to be riskier than PNNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWAY | PNNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.42% | 10.55% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 22.68% | 24.47% | -1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.31% | 27.87% | -1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.65% | 23.70% | +4.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.65% | 32.85% | -4.20% |
Dividends
RWAY vs. PNNT - Dividend Comparison
RWAY's dividend yield for the trailing twelve months is around 25.05%, less than PNNT's 27.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | 27.83% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
RWAY Runway Growth Finance Corp. | 25.05% | 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. PNNT - Financials Comparison
This section allows you to compare key financial metrics between Runway Growth Finance Corp. and PennantPark Investment 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
RWAY and PNNT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWAY has higher volatility (11.42%) compared to PNNT (10.55%). In terms of maximum drawdown, RWAY dropped -44.31% vs PNNT's -82.16%.
PNNT currently has the higher Sharpe Ratio (-1.38 vs -1.44), 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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