TRTX vs. EFC

Last updated Jun 4, 2026

TRTX (TPG RE Finance Trust, Inc.) and EFC (Ellington Financial Inc.) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 5 years, TRTX returned 1.89%/yr vs 5.51%/yr for EFC. A 0.60 correlation means they provide meaningful diversification when combined.

Performance

TRTX vs. EFC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TPG RE Finance Trust, Inc. (TRTX) and Ellington Financial Inc. (EFC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRTX achieves a 0.32% return, which is significantly lower than EFC's 3.50% return.

TRTX

• 1D: -1.41%
• 1M: 0.24%
• YTD: 0.32%
• 6M: -3.05%
• 1Y: 22.24%
• 3Y*: 20.82%
• 5Y*: 1.89%
• 10Y*: —

EFC

• 1D: -1.76%
• 1M: 3.68%
• YTD: 3.50%
• 6M: 3.72%
• 1Y: 20.29%
• 3Y*: 14.78%
• 5Y*: 5.51%
• 10Y*: 9.08%

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

TRTX vs. EFC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRTX TPG RE Finance Trust, Inc.	0.32%	13.50%	46.93%	9.71%	-38.40%	25.11%	-31.46%	20.90%	4.67%	0.91%
EFC Ellington Financial Inc.	3.50%	26.13%	8.68%	18.16%	-18.32%	26.33%	-10.16%	32.43%	17.29%	-5.08%

Correlation

The correlation between TRTX and EFC is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jul 21, 2017	0.60

The correlation between TRTX and EFC has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

Fundamentals

Market Cap TRTX : $662.55M EFC : $1.63B
EPS TRTX : $0.78 EFC : $1.95
PE Ratio TRTX : 10.80 EFC : 6.87
PS Ratio TRTX : 2.51 EFC : 3.35
PB Ratio TRTX : 0.62 EFC : 0.96
Total Revenue (TTM) TRTX : $264.49M EFC : $417.93M
Gross Profit (TTM) TRTX : $207.51M EFC : $347.01M
EBITDA (TTM) TRTX : $195.60M EFC : $270.77M

Return for Risk

TRTX vs. EFC — Risk / Return Rank

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

TRTX

TRTX Risk / Return Rank: 68
TRTX Sharpe Ratio Rank: 73
TRTX Sortino Ratio Rank: 67
TRTX Omega Ratio Rank: 64
TRTX Calmar Ratio Rank: 67
TRTX Martin Ratio Rank: 68

EFC

EFC Risk / Return Rank: 69
EFC Sharpe Ratio Rank: 75
EFC Sortino Ratio Rank: 69
EFC Omega Ratio Rank: 67
EFC Calmar Ratio Rank: 63
EFC Martin Ratio Rank: 69

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.

TRTX vs. EFC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TPG RE Finance Trust, Inc. (TRTX) and Ellington Financial Inc. (EFC). 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.

	TRTX	EFC	Difference
Sharpe ratio Return per unit of total volatility	1.10	1.16	-0.06
Sortino ratio Return per unit of downside risk	1.62	1.70	-0.08
Omega ratio Gain probability vs. loss probability	1.19	1.21	-0.02
Calmar ratio Return relative to maximum drawdown	1.41	1.15	+0.25
Martin ratio Return relative to average drawdown	3.34	3.74	-0.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRTX vs. EFC - Sharpe Ratio Comparison

The current TRTX Sharpe Ratio is 1.10, which is comparable to the EFC Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of TRTX and EFC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRTX	EFC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	1.16	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.23	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.26	-0.22

Drawdowns

TRTX vs. EFC - Drawdown Comparison

The maximum TRTX drawdown since its inception was -86.18%, which is greater than EFC's maximum drawdown of -79.08%. Use the drawdown chart below to compare losses from any high point for TRTX and EFC.

Drawdown Indicators

	TRTX	EFC	Difference
Max Drawdown Largest peak-to-trough decline	-86.18%	-79.08%	-7.10%
Max Drawdown (1Y) Largest decline over 1 year	-15.90%	-17.71%	+1.81%
Max Drawdown (3Y) Largest decline over 3 years	-30.01%	-18.86%	-11.15%
Max Drawdown (5Y) Largest decline over 5 years	-54.39%	-34.19%	-20.20%
Max Drawdown (10Y) Largest decline over 10 years	—	-79.08%	—
Current Drawdown Current decline from peak	-7.23%	-1.76%	-5.47%
Average Drawdown Average peak-to-trough decline	-21.01%	-9.95%	-11.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.67%	5.43%	+1.24%

Volatility

TRTX vs. EFC - Volatility Comparison

TPG RE Finance Trust, Inc. (TRTX) has a higher volatility of 5.40% compared to Ellington Financial Inc. (EFC) at 4.98%. This indicates that TRTX's price experiences larger fluctuations and is considered to be riskier than EFC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRTX	EFC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	4.98%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	14.40%	13.05%	+1.35%
Volatility (1Y) Calculated over the trailing 1-year period	20.45%	17.62%	+2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.95%	23.96%	+10.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.83%	42.26%	+15.57%

Dividends

TRTX vs. EFC - Dividend Comparison

TRTX's dividend yield for the trailing twelve months is around 11.46%, less than EFC's 11.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFC Ellington Financial Inc.	11.68%	11.49%	13.20%	14.16%	14.55%	9.60%	8.49%	9.87%	10.70%	12.13%	12.56%	14.60%
TRTX TPG RE Finance Trust, Inc.	11.46%	11.15%	11.29%	14.77%	14.14%	7.71%	15.44%	8.49%	9.35%	3.73%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both TRTX and EFC in my portfolio?

TRTX and EFC 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.

Which is riskier, TRTX or EFC?

TRTX has higher volatility (5.40%) compared to EFC (4.98%). In terms of maximum drawdown, TRTX dropped -86.18% vs EFC's -79.08%.

Which has better risk-adjusted returns?

EFC currently has the higher Sharpe Ratio (1.16 vs 1.10), 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.