SAR vs. BCSF
SAR (Saratoga Investment Corp.) and BCSF (Bain Capital Specialty Finance, Inc.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 5 years, SAR returned 8.62%/yr vs 6.70%/yr for BCSF. At a 0.43 correlation, their price movements are largely independent.
Performance
SAR vs. BCSF - Performance Comparison
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Returns By Period
In the year-to-date period, SAR achieves a 4.97% return, which is significantly higher than BCSF's -6.30% return.
SAR
- 1D
- 0.05%
- 1M
- 0.54%
- YTD
- 4.97%
- 6M
- 4.52%
- 1Y
- 6.39%
- 3Y*
- 9.08%
- 5Y*
- 8.62%
- 10Y*
- 13.90%
BCSF
- 1D
- -1.54%
- 1M
- -4.69%
- YTD
- -6.30%
- 6M
- -3.97%
- 1Y
- -6.04%
- 3Y*
- 10.52%
- 5Y*
- 6.70%
- 10Y*
- —
SAR vs. BCSF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SAR Saratoga Investment Corp. | 4.97% | 10.36% | 6.07% | 12.91% | -3.82% | 51.00% | -10.92% | 34.20% | -1.13% |
BCSF Bain Capital Specialty Finance, Inc. | -6.30% | -9.60% | 29.52% | 41.95% | -13.31% | 36.98% | -28.91% | 28.19% | -4.60% |
Correlation
The correlation between SAR and BCSF is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018 | 0.43 |
The correlation between SAR and BCSF shifts across timeframes, from 0.43 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
SAR:
$350.29M
BCSF:
$790.10M
SAR:
$2.46
BCSF:
$1.50
SAR:
8.97
BCSF:
8.10
SAR:
0.01
BCSF:
3.33
SAR:
$62.82B
BCSF:
$237.34M
SAR:
$47.57M
BCSF:
$150.81M
SAR:
$1.29B
BCSF:
-$29.62M
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Return for Risk
SAR vs. BCSF — Risk / Return Rank
SAR
BCSF
SAR vs. BCSF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Investment Corp. (SAR) and Bain Capital Specialty Finance, Inc. (BCSF). 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.
| SAR | BCSF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.97 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | -0.37 | +0.84 |
| Martin ratioReturn relative to average drawdown | 1.20 | -0.76 | +1.95 |
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Drawdowns
SAR vs. BCSF - Drawdown Comparison
The maximum SAR drawdown since its inception was -90.67%, which is greater than BCSF's maximum drawdown of -62.42%. Use the drawdown chart below to compare losses from any high point for SAR and BCSF.
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Drawdown Indicators
| SAR | BCSF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.67% | -62.42% | -28.25% |
Max Drawdown (1Y)Largest decline over 1 year | -13.89% | -16.17% | +2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -14.38% | -26.38% | +12.00% |
Max Drawdown (5Y)Largest decline over 5 years | -26.19% | -26.38% | +0.19% |
Max Drawdown (10Y)Largest decline over 10 years | -69.89% | — | — |
Current DrawdownCurrent decline from peak | -2.90% | -22.18% | +19.28% |
Average DrawdownAverage peak-to-trough decline | -17.57% | -12.31% | -5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 8.01% | -2.65% |
Volatility
SAR vs. BCSF - Volatility Comparison
The current volatility for Saratoga Investment Corp. (SAR) is 4.19%, while Bain Capital Specialty Finance, Inc. (BCSF) has a volatility of 7.28%. This indicates that SAR experiences smaller price fluctuations and is considered to be less risky than BCSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAR | BCSF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.19% | 7.28% | -3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.33% | 18.00% | -2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 21.93% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 20.36% | +2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.67% | 30.97% | +6.70% |
Dividends
SAR vs. BCSF - Dividend Comparison
SAR's dividend yield for the trailing twelve months is around 17.35%, more than BCSF's 15.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCSF Bain Capital Specialty Finance, Inc. | 15.52% | 14.02% | 10.27% | 10.62% | 11.60% | 8.94% | 11.73% | 8.30% | 2.44% | 0.00% | 0.00% | 0.00% |
SAR Saratoga Investment Corp. | 17.35% | 14.04% | 13.80% | 10.90% | 11.02% | 6.16% | 6.57% | 6.61% | 10.35% | 10.51% | 9.12% | 14.14% |
Financials
SAR vs. BCSF - Financials Comparison
This section allows you to compare key financial metrics between Saratoga Investment Corp. and Bain Capital Specialty Finance, Inc.. 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
SAR vs. BCSF - Profitability Comparison
SAR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported a gross profit of 0.00 and revenue of 62.74B. Therefore, the gross margin over that period was 0.0%.
BCSF - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bain Capital Specialty Finance, Inc. reported a gross profit of 0.00 and revenue of 50.13M. Therefore, the gross margin over that period was 0.0%.
SAR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported an operating income of 0.00 and revenue of 62.74B, resulting in an operating margin of 0.0%.
BCSF - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bain Capital Specialty Finance, Inc. reported an operating income of 0.00 and revenue of 50.13M, resulting in an operating margin of 0.0%.
SAR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported a net income of 0.00 and revenue of 62.74B, resulting in a net margin of 0.0%.
BCSF - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bain Capital Specialty Finance, Inc. reported a net income of 27.36M and revenue of 50.13M, resulting in a net margin of 54.6%.
Frequently Asked Questions
SAR and BCSF have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCSF has higher volatility (7.28%) compared to SAR (4.19%). In terms of maximum drawdown, SAR dropped -90.67% vs BCSF's -62.42%.
SAR currently has the higher Sharpe Ratio (0.33 vs -0.28), 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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