SAR vs. GLAD
SAR (Saratoga Investment Corp.) and GLAD (Gladstone Capital Corporation) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, SAR returned 12.17%/yr vs 12.11%/yr for GLAD. At a 0.25 correlation, their price movements are largely independent.
Performance
SAR vs. GLAD - Performance Comparison
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Returns By Period
In the year-to-date period, SAR achieves a -8.49% return, which is significantly lower than GLAD's 0.67% return. Both investments have delivered pretty close results over the past 10 years, with SAR having a 12.17% annualized return and GLAD not far behind at 12.11%.
SAR
- 1D
- 4.84%
- 1M
- -14.15%
- 6M
- -9.66%
- YTD
- -8.49%
- 1Y
- -9.50%
- 3Y*
- 3.34%
- 5Y*
- 4.89%
- 10Y*
- 12.17%
GLAD
- 1D
- 0.35%
- 1M
- 3.06%
- 6M
- -1.06%
- YTD
- 0.67%
- 1Y
- -23.64%
- 3Y*
- 7.74%
- 5Y*
- 6.08%
- 10Y*
- 12.11%
SAR vs. GLAD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAR Saratoga Investment Corp. | -8.49% | 10.36% | 6.07% | 12.91% | -3.82% | 51.00% | -10.92% | 34.20% | -2.78% | 20.77% |
GLAD Gladstone Capital Corporation | 0.67% | -21.14% | 46.99% | 22.71% | -10.43% | 40.50% | -0.69% | 48.58% | -13.07% | 7.05% |
Correlation
The correlation between SAR and GLAD 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 | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2007 | 0.25 |
Over the past year, SAR and GLAD have become more correlated (0.58) than their long-term average of 0.25, meaning their price movements have been converging.
Fundamentals
SAR:
$310.72M
GLAD:
$447.79M
SAR:
$1.42
GLAD:
$1.04
SAR:
13.44
GLAD:
19.07
SAR:
0.63
GLAD:
1.11
SAR:
0.01
GLAD:
7.99
SAR:
0.00
GLAD:
1.16
SAR:
$30.85B
GLAD:
$66.59M
SAR:
$33.08M
GLAD:
$28.95M
SAR:
$24.04M
GLAD:
$27.90M
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Return for Risk
SAR vs. GLAD — Risk / Return Rank
SAR
GLAD
SAR vs. GLAD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Investment Corp. (SAR) and Gladstone Capital Corporation (GLAD). 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 | GLAD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.86 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.60 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.61 | -0.89 | -0.72 |
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Drawdowns
SAR vs. GLAD - Drawdown Comparison
The maximum SAR drawdown since its inception was -90.67%, which is greater than GLAD's maximum drawdown of -74.87%. Use the drawdown chart below to compare losses from any high point for SAR and GLAD.
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Drawdown Indicators
| SAR | GLAD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.67% | -74.87% | -15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -22.46% | -39.22% | +16.76% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | -39.59% | +17.13% |
Max Drawdown (5Y)Largest decline over 5 years | -26.19% | -39.59% | +13.40% |
Max Drawdown (10Y)Largest decline over 10 years | -69.89% | -58.37% | -11.52% |
Current DrawdownCurrent decline from peak | -15.35% | -25.87% | +10.52% |
Average DrawdownAverage peak-to-trough decline | -17.55% | -18.74% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.92% | 26.70% | -20.78% |
Volatility
SAR vs. GLAD - Volatility Comparison
Saratoga Investment Corp. (SAR) has a higher volatility of 17.61% compared to Gladstone Capital Corporation (GLAD) at 6.11%. This indicates that SAR's price experiences larger fluctuations and is considered to be riskier than GLAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAR | GLAD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.61% | 6.11% | +11.50% |
Volatility (6M)Calculated over the trailing 6-month period | 22.76% | 19.00% | +3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.35% | 26.07% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.67% | 23.68% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.03% | 30.04% | +7.99% |
Dividends
SAR vs. GLAD - Dividend Comparison
SAR's dividend yield for the trailing twelve months is around 20.12%, more than GLAD's 9.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLAD Gladstone Capital Corporation | 9.81% | 9.85% | 8.37% | 9.16% | 8.42% | 6.73% | 8.97% | 8.46% | 11.51% | 9.12% | 8.95% | 11.49% |
SAR Saratoga Investment Corp. | 20.12% | 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. GLAD - Financials Comparison
This section allows you to compare key financial metrics between Saratoga Investment Corp. and Gladstone 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
SAR vs. GLAD - Profitability Comparison
SAR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Saratoga Investment Corp. reported a gross profit of 0.00 and revenue of 30.78B. Therefore, the gross margin over that period was 0.0%.
GLAD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Gladstone Capital Corporation reported a gross profit of 0.00 and revenue of 21.49M. 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 Jul 2026, Saratoga Investment Corp. reported an operating income of 0.00 and revenue of 30.78B, resulting in an operating margin of 0.0%.
GLAD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Gladstone Capital Corporation reported an operating income of 0.00 and revenue of 21.49M, 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 Jul 2026, Saratoga Investment Corp. reported a net income of 0.00 and revenue of 30.78B, resulting in a net margin of 0.0%.
GLAD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Gladstone Capital Corporation reported a net income of 0.00 and revenue of 21.49M, resulting in a net margin of 0.0%.
Frequently Asked Questions
SAR and GLAD 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.
SAR has higher volatility (17.61%) compared to GLAD (6.11%). In terms of maximum drawdown, SAR dropped -90.67% vs GLAD's -74.87%.
SAR currently has the higher Sharpe Ratio (-0.38 vs -0.91), 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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