REIT Comparison
ADC vs NNN: Which Is the Better Pick in 2026?
A head-to-head comparison of Agree Realty and NNN REIT, Inc. covering yield, cost, risk, and income potential.
Updated October 16, 2026
How these figures are calculated: methodology.
Best for
- ADCInvestors who want real-estate income and inflation sensitivity.
- NNNInvestors who want higher current income (5.97% vs 4.85% for ADC).
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
ADC has lagged NNN over the trailing twelve months, posting a -6.15% total return against 3.92%. The picture flips over 10 years, though — ADC has compounded at 7.98% a year, ahead of NNN at 3.77%. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | 3Y annualized | 5Y annualized | 10Y annualized | Since Apr 1994 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|---|---|
| ADC | -3.90% | -6.15% | 11.08% | 3.69% | 7.98% | 11.33% | 17.6% | 0.36 | 0.52 | -18.9% |
| NNN | 9.24% | 3.92% | 10.81% | 3.36% | 3.77% | 10.44% | 18.6% | 0.33 | 0.47 | -22.0% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Apr 1994” measures every fund from April 15, 1994 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Side-by-side snapshot
| Metric |  ADC |  NNN |
|---|---|---|
| Full name | Agree Realty | NNN REIT, Inc. |
| Issuer | Agree Realty | NNN REIT |
| Last Close | $67.04 as of October 16, 2026 | $41.54 as of October 16, 2026 |
| Distribution rate | 4.85% | 5.97% |
| Trailing 12-month yield | 4.73% | 5.83% |
| Distribution Safety Score™ | 91 | 95 |
| Safety-Adjusted Yield | 4.41% | 5.67% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | Monthly | Quarterly |
| Underlying index | — | — |
| Objective | A real estate investment trust focused on income-producing properties. | A net lease REIT that acquires, owns, and manages single-tenant retail properties under long-term net leases. A Dividend Aristocrat with over 35 consecutive years of dividend increases. |
| Asset class | Real Estate | Real Estate |
| Inception date | N/A | N/A |
| Beta | 0.424 | 0.761 |
| Last dividend | $0.271 declared, pays 11/13/2026 | $0.62 declared, pays 11/13/2026 |
| Ex-dividend date | 10/30/2026 upcoming | 10/30/2026 upcoming |
Bottom lineChoose ADC if you want real-estate income and inflation sensitivity. Choose NNN if you want higher current income (5.97% vs 4.85% for ADC).
Income calculator
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Quick verdict
ADC (Agree Realty) and NNN (NNN REIT, Inc.) are both dividend-paying real estate investment trusts (REITs), but they take different approaches.
NNN offers the higher yield at 5.97% vs 4.85% for ADC. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
Who should choose each?
Choose ADC
Agree Realty
- Want real-estate exposure for income and inflation sensitivity.
- Prefer lower volatility — a beta of 0.4 vs 0.8 for NNN.
Choose NNN
NNN REIT, Inc.
- Want higher current income — NNN yields 5.97% vs 4.85% for ADC.
- Want real-estate exposure for income and inflation sensitivity.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
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Deep dive
Yield & income
On a $10,000 investment, ADC would generate roughly $40.42 cash per distribution, while NNN would produce $149.25 cash per distribution, at current distribution rates.
Strategy & risk
ADC is a real estate investment trust built around diversified REIT exposure, while NNN is a real estate investment trust built around retail REIT exposure. Beta is 0.424 for ADC and 0.761 for NNN, making ADC the less volatile of the two by this measure.
Security details
ADC (Agree Realty) is a real estate investment trust. NNN (NNN REIT, Inc.) is a real estate investment trust.
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Frequently asked questions
What is the current distribution rate for ADC and NNN?
ADC currently distributes 4.85% and NNN 5.97%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is ADC or NNN better for dividend income?
It depends on your goals. NNN currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between ADC and NNN?
ADC (Agree Realty) is a real estate investment trust built around diversified REIT exposure, while NNN (NNN REIT, Inc.) is a real estate investment trust built around retail REIT exposure. They are issued by Agree Realty and NNN REIT respectively.
Can I hold both ADC and NNN?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is ADC or NNN safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — NNN scores 95, ADC scores 91, so NNN's payout currently looks the more resilient of the two. ADC has also shown lower price volatility (beta 0.42 vs 0.76 for NNN). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
How much income does $10,000 in ADC vs NNN generate?
At current rates, $10,000 in ADC would generate roughly $40.42 cash per distribution ($485.00 annually). The same in NNN would produce about $149.25 cash per distribution ($597.00 annually).
Which has performed better historically, ADC or NNN?
ADC has lagged NNN over the trailing twelve months, posting a -6.15% total return against 3.92%. The picture flips over 10 years, though — ADC has compounded at 7.98% a year, ahead of NNN at 3.77%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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ADC vs NNN — at a glance
Generated October 17, 2026.
Overview
ADC and NNN are both real estate investment trusts focused on net lease properties—arrangements where tenants cover most operating costs—but they differ in portfolio composition and dividend growth track record.
How they differ
The most fundamental difference is portfolio strategy: NNN focuses exclusively on single-tenant retail leases, a narrower but historically stable niche, whereas ADC runs a more diversified real estate model. On volatility, ADC's beta of 0.424 is materially lower than NNN's 0.761, suggesting ADC's portfolio or tenant base has historically shown less sensitivity to market swings; NNN's higher beta reflects the concentration risk inherent in retail net lease exposure and the sector's cyclical swings.
Who each is best for
- ADC: Fits investors seeking lower portfolio volatility with a need for regular monthly cash flow; the lower beta suggests less equity market correlation, appealing to those building a defensive income sleeve.
- NNN: Fits income investors with a higher risk tolerance who value a long history of dividend growth and can tolerate quarterly payout schedules; the higher yield compensates for concentration in retail net lease properties and greater price sensitivity.
Key risks to know
- Retail tenant exposure (NNN): Retail net lease portfolios face ongoing headwinds from e-commerce and shifting consumer behavior. NNN's concentration in single-tenant retail creates vulnerability to tenant bankruptcies or lease non-renewal, which would pressure distributions.
- Rising interest rates and cap-rate compression: Both REITs are sensitive to shifts in real estate capitalization rates. As long-term rates rise, property valuations contract and refinancing costs increase, potentially constraining earnings growth and distribution growth rates.
- Beta divergence and equity market correlation: NNN's higher beta of 0.761 versus ADC's 0.424 indicates NNN's returns are more correlated with equity market drawdowns. A sharp equity correction could pressure NNN's price more acutely.
- Tenant credit quality and lease structure: ADC's diversified portfolio and NNN's single-tenant strategy face different tenant risk profiles; a slowdown in consumer spending or a spike in defaults would hit single-tenant properties harder and faster.
- Distribution sustainability in recession: While NNN's 35-year dividend increase streak is impressive, recession-driven defaults or lease breaks could threaten that streak; ADC's diversification may provide slightly more cushion, though both depend on tenant health.
Bottom line
If you prioritize volatility dampening and monthly income, ADC's lower beta and payout frequency stand out. If you're comfortable with higher equity sensitivity and are drawn to a proven multi-decade track record of dividend increases, NNN's 5.97% yield and retail net lease model merit consideration. Both carry tenant credit and interest-rate risk; verify that each portfolio's tenant quality and lease terms align with your outlook on retail and the broader economic cycle before committing capital.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
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These comparisons follow the Dividend Vision methodology.