UPST vs. EXFY
UPST (Upstart Holdings, Inc.) and EXFY (Expensify Inc) are both stocks. UPST operates in Credit Services (Financial Services), while EXFY operates in Software - Application (Technology). Over the past 3 years, UPST returned -6.21%/yr vs -43.70%/yr for EXFY. At a 0.42 correlation, their price movements are largely independent.
Performance
UPST vs. EXFY - Performance Comparison
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Returns By Period
In the year-to-date period, UPST achieves a -30.25% return, which is significantly lower than EXFY's -16.56% return.
UPST
- 1D
- -4.06%
- 1M
- 13.00%
- YTD
- -30.25%
- 6M
- -38.20%
- 1Y
- -44.12%
- 3Y*
- -6.21%
- 5Y*
- -24.64%
- 10Y*
- —
EXFY
- 1D
- -1.56%
- 1M
- 10.53%
- YTD
- -16.56%
- 6M
- -21.74%
- 1Y
- -46.38%
- 3Y*
- -43.70%
- 5Y*
- —
- 10Y*
- —
UPST vs. EXFY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UPST Upstart Holdings, Inc. | -30.25% | -28.98% | 50.69% | 209.08% | -91.26% | -51.77% |
EXFY Expensify Inc | -16.56% | -54.93% | 35.63% | -72.03% | -79.93% | 10.69% |
Correlation
The correlation between UPST and EXFY is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.42 |
The correlation between UPST and EXFY shifts across timeframes, from 0.27 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
Fundamentals
UPST:
$2.96B
EXFY:
$118.09M
UPST:
$0.47
EXFY:
-$0.22
UPST:
2.76
EXFY:
0.84
UPST:
4.03
EXFY:
0.85
UPST:
$1.16B
EXFY:
$140.00M
UPST:
$810.61M
EXFY:
$69.46M
UPST:
$67.66M
EXFY:
-$13.41M
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Return for Risk
UPST vs. EXFY — Risk / Return Rank
UPST
EXFY
UPST vs. EXFY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Upstart Holdings, Inc. (UPST) and Expensify Inc (EXFY). 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.
| UPST | EXFY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.88 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | -0.65 | +0.03 |
| Martin ratioReturn relative to average drawdown | -0.92 | -1.03 | +0.11 |
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Drawdowns
UPST vs. EXFY - Drawdown Comparison
The maximum UPST drawdown since its inception was -96.90%, roughly equal to the maximum EXFY drawdown of -98.46%. Use the drawdown chart below to compare losses from any high point for UPST and EXFY.
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Drawdown Indicators
| UPST | EXFY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.90% | -98.46% | +1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -71.21% | -71.38% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -72.72% | -90.86% | +18.14% |
Max Drawdown (5Y)Largest decline over 5 years | -96.90% | — | — |
Current DrawdownCurrent decline from peak | -92.18% | -97.40% | +5.22% |
Average DrawdownAverage peak-to-trough decline | -76.18% | -84.34% | +8.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.83% | 45.00% | +2.83% |
Volatility
UPST vs. EXFY - Volatility Comparison
Upstart Holdings, Inc. (UPST) has a higher volatility of 21.77% compared to Expensify Inc (EXFY) at 7.30%. This indicates that UPST's price experiences larger fluctuations and is considered to be riskier than EXFY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UPST | EXFY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.77% | 7.30% | +14.47% |
Volatility (6M)Calculated over the trailing 6-month period | 50.33% | 51.70% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.10% | 62.48% | +8.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.59% | 80.23% | +23.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 113.97% | 80.23% | +33.74% |
Dividends
UPST vs. EXFY - Dividend Comparison
Neither UPST nor EXFY has paid dividends to shareholders.
Financials
UPST vs. EXFY - Financials Comparison
This section allows you to compare key financial metrics between Upstart Holdings, Inc. and Expensify 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
UPST vs. EXFY - Profitability Comparison
UPST - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Upstart Holdings, Inc. reported a gross profit of 0.00 and revenue of 308.21M. Therefore, the gross margin over that period was 0.0%.
EXFY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Expensify Inc reported a gross profit of 16.17M and revenue of 33.97M. Therefore, the gross margin over that period was 47.6%.
UPST - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Upstart Holdings, Inc. reported an operating income of -7.52M and revenue of 308.21M, resulting in an operating margin of -2.4%.
EXFY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Expensify Inc reported an operating income of -1.97M and revenue of 33.97M, resulting in an operating margin of -5.8%.
UPST - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Upstart Holdings, Inc. reported a net income of -6.65M and revenue of 308.21M, resulting in a net margin of -2.2%.
EXFY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Expensify Inc reported a net income of -2.34M and revenue of 33.97M, resulting in a net margin of -6.9%.
Frequently Asked Questions
UPST and EXFY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPST has higher volatility (21.77%) compared to EXFY (7.30%). In terms of maximum drawdown, UPST dropped -96.90% vs EXFY's -98.46%.
UPST currently has the higher Sharpe Ratio (-0.62 vs -0.75), 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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