ALAAX vs. HTGC
ALAAX (Invesco Income Allocation Fund) is Diversified Portfolio fund managed by Invesco, while HTGC (Hercules Capital, Inc.) is a stock. Over the past 10 years, ALAAX returned 4.44%/yr vs 13.54%/yr for HTGC. Their 0.47 correlation means their historical movements had little consistent relationship.
Performance
ALAAX vs. HTGC - Performance Comparison
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Returns By Period
In the year-to-date period, ALAAX achieves a 4.54% return, which is significantly higher than HTGC's -3.06% return. Over the past 10 years, ALAAX has underperformed HTGC with an annualized return of 4.44%, while HTGC has yielded a comparatively higher 13.54% annualized return.
ALAAX
- 1D
- -0.09%
- 1M
- -0.44%
- 6M
- 2.81%
- YTD
- 4.54%
- 1Y
- 10.55%
- 3Y*
- 8.58%
- 5Y*
- 3.45%
- 10Y*
- 4.44%
- ALL TIME*
- 4.92%
HTGC
- 1D
- 2.38%
- 1M
- 7.95%
- 6M
- -0.30%
- YTD
- -3.06%
- 1Y
- 0.25%
- 3Y*
- 10.06%
- 5Y*
- 11.60%
- 10Y*
- 13.54%
- ALL TIME*
- 12.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $25.57M | $24.46M | $24.77M |
ALAAX vs. HTGC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALAAX Invesco Income Allocation Fund | 4.54% | 11.63% | 5.84% | 7.13% | -11.78% | 7.56% | 2.33% | 15.50% | -4.45% | 7.99% |
HTGC Hercules Capital, Inc. | -3.06% | 3.54% | 33.33% | 42.91% | -10.42% | 26.50% | 14.49% | 39.86% | -6.86% | 1.86% |
Correlation
The correlation between ALAAX and HTGC is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | 0.47 |
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Return for Risk
ALAAX vs. HTGC — Risk / Return Rank
ALAAX
HTGC
ALAAX vs. HTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Income Allocation Fund (ALAAX) and Hercules Capital, Inc. (HTGC). 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.
| ALAAX | HTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.91 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.02 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 0.01 | +2.49 |
| Martin ratioReturn relative to average drawdown | 10.51 | 0.02 | +10.49 |
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Drawdowns
ALAAX vs. HTGC - Drawdown Comparison
The maximum ALAAX drawdown since its inception was -28.28%, smaller than the maximum HTGC drawdown of -68.21%. Use the drawdown chart below to compare losses from any high point for ALAAX and HTGC.
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Drawdown Indicators
| ALAAX | HTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.28% | -68.21% | +39.93% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -24.74% | +20.49% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -27.97% | +21.88% |
Max Drawdown (5Y)Largest decline over 5 years | -17.16% | -36.11% | +18.95% |
Max Drawdown (10Y)Largest decline over 10 years | -24.08% | -57.54% | +33.46% |
Current DrawdownCurrent decline from peak | -0.70% | -8.34% | +7.64% |
Average DrawdownAverage peak-to-trough decline | -3.28% | -10.89% | +7.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 11.73% | -10.72% |
Volatility
ALAAX vs. HTGC - Volatility Comparison
The current volatility for Invesco Income Allocation Fund (ALAAX) is 1.37%, while Hercules Capital, Inc. (HTGC) has a volatility of 7.12%. This indicates that ALAAX experiences smaller price fluctuations and is considered to be less risky than HTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALAAX | HTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 7.12% | -5.75% |
Volatility (6M)Calculated over the trailing 6-month period | 4.58% | 21.04% | -16.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 24.17% | -18.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 25.96% | -19.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.32% | 27.93% | -20.61% |
Dividends
ALAAX vs. HTGC - Dividend Comparison
ALAAX's dividend yield for the trailing twelve months is around 4.13%, less than HTGC's 13.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALAAX Invesco Income Allocation Fund | 4.13% | 4.22% | 4.13% | 4.07% | 3.53% | 3.19% | 4.07% | 6.98% | 3.91% | 3.36% | 3.66% | 3.16% |
HTGC Hercules Capital, Inc. | 13.09% | 9.99% | 9.56% | 11.40% | 13.77% | 9.76% | 9.02% | 9.49% | 11.40% | 9.45% | 8.79% | 10.17% |
Frequently Asked Questions
ALAAX and HTGC have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTGC has higher volatility (7.12%) compared to ALAAX (1.37%). In terms of maximum drawdown, ALAAX dropped -28.28% vs HTGC's -68.21%.
ALAAX currently has the higher Sharpe Ratio (1.92 vs 0.01), 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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