Stock fact sheet · data as of
Fundrise Innovation Fund, LLC (VCX): fair value, margin of safety and Wheel Score
Ticker symbol VCX · Financial Services · Asset Management · United States · Fund / Note
Is VCX undervalued?
VCX has a margin of safety of 87%: the stock closed at 21.53 on 5 Nov 2026 against a GLS average fair value of 171.31. 6 of the 7 valuation models that produced a number sit above the price. Our scans treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between DDM (2.57) and GLS Growth (424.32). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
VCX looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.
Nine valuation models for VCX
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 64.50 | +200% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 61.00 | +183% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 396.46 | +1741% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 173.28 | +705% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 424.32 | +1871% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 2.57 | -88% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 77.01 | +258% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 2.05 | -90% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Fundrise Innovation Fund, LLC scores only 4 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. There is no GLS Moat score for VCX: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.
Returns on capital are high - ROIC 28.4%, ROE 29.1%, ROA 28.1% - with debt at 0.02 times equity and negative free cash flow.
The dividend yield is 0.81% with a payout ratio of 2% - a small yield that leaves most of the earnings in the business.
Institutional ownership scores 1/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 4 / 9 | ROIC | 28.4% |
|---|---|---|---|
| GLS Moat | - / 10 | ROE | 29.1% |
| Debt / equity | 0.02 | ROA | 28.1% |
| Free-cash-flow yield | -1.7% | Payout ratio | 2% |
| Institutions | 1 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 37: Weak
With a Wheel Score of 37 Fundrise Innovation Fund, LLC sits in the Weak band. It fails filter 2, a real business, not a gamble - a fund or note, not a company; and filter 4, financially healthy - Piotroski 4/9 (under 6); and filter 7, a premium worth selling - implied volatility 82% (over 80%); and filter 8, big enough - market cap $966M (under $1.0B); Moat (weak) is its weakest part.
Implied volatility is 82%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 7,811 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 357k shares a day on a market cap of $966M, with a beta of -43.73 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | a fund or note, not a company |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 4/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 82% (over 80%) |
| 8 | Big enough | Fails | market cap $966M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 87% below fair value | |
| Premium | Fair | implied volatility 82% | |
| Moat | Weak | no moat score | |
| Health | Fair | Piotroski 4/9 | |
| Red Flags | Strong | Red Flags score 90/100 | |
| Option trading | Weak | 615 contracts a day, 7,811 open interest | |
| Stability | Fair | beta -43.73, $966M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for VCX in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to Fundrise Innovation Fund, LLC by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| ACSNX American Century Short Duration Fd Investor Cl | 9.68 | 596.28 | +98% | 25No options | $971M |
| TYG Tortoise Energy Infrastructure Corporation | 37.78 | 57.34 | +34% | 26No options | $960M |
| AFDVX Applied Finance Explorer fund Investor Class | 26.99 | 11.69 | -131% | 13No options | $985M |
| BOSOX Boston Trust Walden Small Cap Fund | 19.60 | 10.76 | -82% | 13No options | $940M |
| RNP Cohen & Steers REIT and Preferred Income Fund, Inc. | 19.49 | 35.76 | +45% | 25No options | $936M |
| BBDC Barings BDC, Inc. | 8.91 | 37.27 | +76% | 50Fair | $933M |
| BTX BlackRock Technology and Private Equity Term Trust | 7.95 | 53.23 | +85% | 29No options | $928M |
| GSBD Goldman Sachs BDC, Inc. | 8.94 | 16.24 | +45% | 51Fair | $1.0B |
| EMO ClearBridge Energy Midstream Opportunity Fund Inc | 50.46 | 161.01 | +69% | 25No options | $1.0B |
| PDX Pimco Dynamic Income Strategy Fund | 20.67 | 86.93 | +76% | 26No options | $924M |
| ASA ASA Gold and Precious Metals Limited | 49.93 | 1,273.22 | +96% | 49Weak | $917M |
| CAAPX Ariel Appreciation Fund | 47.00 | 37.93 | -24% | 10No options | $916M |
⚖ Compare VCX with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about VCX
Is VCX undervalued right now?
By the GLS models, yes: at 21.53 the stock is 87% below the average fair value of 171.31 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of VCX and what does it mean?
VCX scores 37 out of 100 (Weak) - it fails Wheel Trade Filters 2, 4, 7, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for VCX?
171.31 per share as of 5 Nov 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Fundrise Innovation Fund, LLC report earnings next?
No upcoming earnings date is recorded for VCX in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does VCX have listed options, and how liquid are they?
Yes. The nightly snapshot found 84 listed contracts with 7,811 open interest across all expiries and implied volatility of 82% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.