TRTX vs. NREF
TRTX (TPG RE Finance Trust, Inc.) and NREF (NexPoint Real Estate Finance, Inc.) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 5 years, TRTX returned 3.59%/yr vs 8.51%/yr for NREF. At a 0.44 correlation, their price movements are largely independent.
Performance
TRTX vs. NREF - Performance Comparison
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Returns By Period
In the year-to-date period, TRTX achieves a 9.99% return, which is significantly lower than NREF's 23.07% return.
TRTX
- 1D
- 1.31%
- 1M
- 7.09%
- 6M
- 4.76%
- YTD
- 9.99%
- 1Y
- 22.68%
- 3Y*
- 20.72%
- 5Y*
- 3.59%
- 10Y*
- —
NREF
- 1D
- 1.57%
- 1M
- 6.68%
- 6M
- 22.11%
- YTD
- 23.07%
- 1Y
- 33.22%
- 3Y*
- 15.54%
- 5Y*
- 8.51%
- 10Y*
- —
TRTX vs. NREF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TRTX TPG RE Finance Trust, Inc. | 9.99% | 13.50% | 46.93% | 9.71% | -38.40% | 25.11% | -33.11% |
NREF NexPoint Real Estate Finance, Inc. | 23.07% | 2.28% | 13.51% | 17.36% | -8.90% | 27.81% | -3.83% |
Correlation
The correlation between TRTX and NREF is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2020 | 0.44 |
The correlation between TRTX and NREF shifts across timeframes, from 0.44 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
TRTX:
$658.67M
NREF:
$305.15M
TRTX:
$0.78
NREF:
$2.16
TRTX:
10.93
NREF:
7.51
TRTX:
2.54
NREF:
5.00
TRTX:
0.63
NREF:
2.14
TRTX:
$264.49M
NREF:
$155.54M
TRTX:
$207.51M
NREF:
$132.51M
TRTX:
$195.60M
NREF:
$152.30M
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Return for Risk
TRTX vs. NREF — Risk / Return Rank
TRTX
NREF
TRTX vs. NREF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TPG RE Finance Trust, Inc. (TRTX) and NexPoint Real Estate Finance, Inc. (NREF). 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.
| TRTX | NREF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 2.57 | -1.14 |
| Martin ratioReturn relative to average drawdown | 3.35 | 6.50 | -3.16 |
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Drawdowns
TRTX vs. NREF - Drawdown Comparison
The maximum TRTX drawdown since its inception was -86.18%, which is greater than NREF's maximum drawdown of -66.09%. Use the drawdown chart below to compare losses from any high point for TRTX and NREF.
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Drawdown Indicators
| TRTX | NREF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.18% | -66.09% | -20.09% |
Max Drawdown (1Y)Largest decline over 1 year | -15.90% | -12.92% | -2.98% |
Max Drawdown (3Y)Largest decline over 3 years | -30.01% | -24.00% | -6.01% |
Max Drawdown (5Y)Largest decline over 5 years | -53.18% | -44.78% | -8.40% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -20.80% | -16.62% | -4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.75% | 5.09% | +1.66% |
Volatility
TRTX vs. NREF - Volatility Comparison
TPG RE Finance Trust, Inc. (TRTX) and NexPoint Real Estate Finance, Inc. (NREF) have volatilities of 7.16% and 7.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRTX | NREF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 7.12% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 15.69% | 17.45% | -1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.12% | 24.10% | -2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.87% | 33.32% | +1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.56% | 45.50% | +12.06% |
Dividends
TRTX vs. NREF - Dividend Comparison
TRTX's dividend yield for the trailing twelve months is around 15.85%, more than NREF's 12.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NREF NexPoint Real Estate Finance, Inc. | 12.35% | 14.20% | 12.75% | 17.40% | 12.59% | 9.87% | 8.59% | 0.00% | 0.00% | 0.00% |
TRTX TPG RE Finance Trust, Inc. | 15.85% | 11.15% | 11.29% | 14.77% | 14.14% | 7.71% | 15.44% | 8.49% | 9.35% | 3.73% |
Financials
TRTX vs. NREF - Financials Comparison
This section allows you to compare key financial metrics between TPG RE Finance Trust, Inc. and NexPoint Real Estate 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
Frequently Asked Questions
TRTX and NREF have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRTX has higher volatility (7.16%) compared to NREF (7.12%). In terms of maximum drawdown, TRTX dropped -86.18% vs NREF's -66.09%.
NREF currently has the higher Sharpe Ratio (1.38 vs 1.07), 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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