VATE vs. VST

Last updated Apr 1, 2026

Compare and contrast key facts about INNOVATE Corp. (VATE) and Vistra Corp. (VST).

Performance

VATE vs. VST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in INNOVATE Corp. (VATE) and Vistra Corp. (VST). The values are adjusted to include any dividend payments, if applicable.

VATE vs. VST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VATE INNOVATE Corp.	25.66%	-8.50%	-59.84%	-34.22%	-49.46%	13.50%	50.23%	-17.80%	-55.63%	63.41%
VST Vistra Corp.	-6.69%	17.66%	261.52%	70.73%	5.08%	19.57%	-11.87%	2.46%	24.95%	18.19%

Fundamentals

EPS VATE : -$4.60 VST : $4.17
PS Ratio VATE : 0.06 VST : 1.92
Total Revenue (TTM) VATE : $1.25B VST : $17.74B
Gross Profit (TTM) VATE : $199.70M VST : $3.96B
EBITDA (TTM) VATE : $6.70M VST : -$2.59B

Returns By Period

In the year-to-date period, VATE achieves a 25.66% return, which is significantly higher than VST's -6.69% return.

VATE

• 1D: 3.27%
• 1M: 7.17%
• YTD: 25.66%
• 6M: 16.16%
• 1Y: -27.46%
• 3Y*: -42.39%
• 5Y*: -32.32%
• 10Y*: -12.66%

VST

• 1D: 1.89%
• 1M: -13.43%
• YTD: -6.69%
• 6M: -23.06%
• 1Y: 28.66%
• 3Y*: 86.61%
• 5Y*: 56.44%
• 10Y*: —

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

Return for Risk

VATE vs. VST — Risk / Return Rank

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

VATE

VATE Risk / Return Rank: 26
VATE Sharpe Ratio Rank: 26
VATE Sortino Ratio Rank: 29
VATE Omega Ratio Rank: 29
VATE Calmar Ratio Rank: 21
VATE Martin Ratio Rank: 26

VST

VST Risk / Return Rank: 59
VST Sharpe Ratio Rank: 61
VST Sortino Ratio Rank: 58
VST Omega Ratio Rank: 57
VST Calmar Ratio Rank: 60
VST Martin Ratio Rank: 59

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.

VATE vs. VST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for INNOVATE Corp. (VATE) and Vistra Corp. (VST). 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.

	VATE	VST	Difference
Sharpe ratio Return per unit of total volatility	-0.34	0.52	-0.86
Sortino ratio Return per unit of downside risk	-0.02	1.04	-1.06
Omega ratio Gain probability vs. loss probability	1.00	1.14	-0.14
Calmar ratio Return relative to maximum drawdown	-0.62	0.78	-1.40
Martin ratio Return relative to average drawdown	-0.92	1.65	-2.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VATE vs. VST - Sharpe Ratio Comparison

The current VATE Sharpe Ratio is -0.34, which is lower than the VST Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of VATE and VST, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VATE	VST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	0.52	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	1.20	-1.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.73	-0.83

Correlation

The correlation between VATE and VST is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VATE vs. VST - Dividend Comparison

VATE has not paid dividends to shareholders, while VST's dividend yield for the trailing twelve months is around 0.60%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
VATE INNOVATE Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	43.53%	0.00%
VST Vistra Corp.	0.60%	0.56%	0.63%	2.13%	3.12%	2.64%	2.75%	2.17%	0.00%	0.00%	14.97%

Drawdowns

VATE vs. VST - Drawdown Comparison

The maximum VATE drawdown since its inception was -96.05%, which is greater than VST's maximum drawdown of -53.32%. Use the drawdown chart below to compare losses from any high point for VATE and VST.

Drawdown Indicators

	VATE	VST	Difference
Max Drawdown Largest peak-to-trough decline	-96.05%	-53.32%	-42.73%
Max Drawdown (1Y) Largest decline over 1 year	-46.14%	-34.51%	-11.63%
Max Drawdown (5Y) Largest decline over 5 years	-92.99%	-48.80%	-44.19%
Max Drawdown (10Y) Largest decline over 10 years	-95.36%	—	—
Current Drawdown Current decline from peak	-93.16%	-30.83%	-62.33%
Average Drawdown Average peak-to-trough decline	-51.53%	-13.39%	-38.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.18%	16.29%	+16.89%

Volatility

VATE vs. VST - Volatility Comparison

INNOVATE Corp. (VATE) has a higher volatility of 28.91% compared to Vistra Corp. (VST) at 18.07%. This indicates that VATE's price experiences larger fluctuations and is considered to be riskier than VST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VATE	VST	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.91%	18.07%	+10.84%
Volatility (6M) Calculated over the trailing 6-month period	50.99%	38.53%	+12.46%
Volatility (1Y) Calculated over the trailing 1-year period	80.09%	55.49%	+24.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.94%	47.36%	+44.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.04%	42.15%	+38.89%

Financials

VATE vs. VST - Profitability Comparison

The chart below illustrates the profitability comparison between INNOVATE Corp. and Vistra Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

VATE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, INNOVATE Corp. reported a gross profit of 58.90M and revenue of 382.70M. Therefore, the gross margin over that period was 15.4%.

VST - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Vistra Corp. reported a gross profit of 0.00 and revenue of 3.35B. Therefore, the gross margin over that period was 0.0%.

VATE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, INNOVATE Corp. reported an operating income of -15.00M and revenue of 382.70M, resulting in an operating margin of -3.9%.

VST - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Vistra Corp. reported an operating income of -818.00M and revenue of 3.35B, resulting in an operating margin of -24.5%.

VATE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, INNOVATE Corp. reported a net income of -7.80M and revenue of 382.70M, resulting in a net margin of -2.0%.

VST - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Vistra Corp. reported a net income of 233.00M and revenue of 3.35B, resulting in a net margin of 7.0%.