FDUS vs. HRZN

Last updated Apr 1, 2026

Compare and contrast key facts about Fidus Investment Corporation (FDUS) and Horizon Technology Finance Corporation (HRZN).

Performance

FDUS vs. HRZN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidus Investment Corporation (FDUS) and Horizon Technology Finance Corporation (HRZN). The values are adjusted to include any dividend payments, if applicable.

FDUS vs. HRZN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDUS Fidus Investment Corporation	-7.07%	2.08%	20.55%	20.02%	17.09%	50.66%	-0.78%	40.72%	-13.70%	6.25%
HRZN Horizon Technology Finance Corporation	-31.54%	-14.44%	-22.87%	26.99%	-19.72%	29.74%	14.08%	26.88%	11.71%	18.62%

Fundamentals

Market Cap FDUS : $643.98M HRZN : $178.29M
EPS FDUS : $2.33 HRZN : $1.05
PE Ratio FDUS : 7.48 HRZN : 3.99
PS Ratio FDUS : 4.96 HRZN : 4.37
PB Ratio FDUS : 0.87 HRZN : 0.56
Total Revenue (TTM) FDUS : $126.37M HRZN : $41.52M
Gross Profit (TTM) FDUS : $75.32M HRZN : -$3.93M
EBITDA (TTM) FDUS : $66.90M HRZN : -$10.37M

Returns By Period

In the year-to-date period, FDUS achieves a -7.07% return, which is significantly higher than HRZN's -31.54% return. Over the past 10 years, FDUS has outperformed HRZN with an annualized return of 12.98%, while HRZN has yielded a comparatively lower 1.09% annualized return.

FDUS

• 1D: 1.34%
• 1M: 1.27%
• YTD: -7.07%
• 6M: -9.16%
• 1Y: -4.71%
• 3Y*: 9.78%
• 5Y*: 14.53%
• 10Y*: 12.98%

HRZN

• 1D: 2.93%
• 1M: -28.31%
• YTD: -31.54%
• 6M: -23.74%
• 1Y: -46.04%
• 3Y*: -16.90%
• 5Y*: -11.87%
• 10Y*: 1.09%

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

Return for Risk

FDUS vs. HRZN — Risk / Return Rank

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

FDUS

FDUS Risk / Return Rank: 30
FDUS Sharpe Ratio Rank: 33
FDUS Sortino Ratio Rank: 27
FDUS Omega Ratio Rank: 27
FDUS Calmar Ratio Rank: 33
FDUS Martin Ratio Rank: 30

HRZN

HRZN Risk / Return Rank: 4
HRZN Sharpe Ratio Rank: 3
HRZN Sortino Ratio Rank: 6
HRZN Omega Ratio Rank: 3
HRZN Calmar Ratio Rank: 5
HRZN Martin Ratio Rank: 2

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.

FDUS vs. HRZN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidus Investment Corporation (FDUS) and Horizon Technology Finance Corporation (HRZN). 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.

	FDUS	HRZN	Difference
Sharpe ratio Return per unit of total volatility	-0.21	-1.11	+0.90
Sortino ratio Return per unit of downside risk	-0.13	-1.44	+1.30
Omega ratio Gain probability vs. loss probability	0.98	0.75	+0.23
Calmar ratio Return relative to maximum drawdown	-0.33	-0.95	+0.62
Martin ratio Return relative to average drawdown	-0.74	-1.97	+1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDUS vs. HRZN - Sharpe Ratio Comparison

The current FDUS Sharpe Ratio is -0.21, which is higher than the HRZN Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of FDUS and HRZN, 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

	FDUS	HRZN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	-1.11	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	-0.39	+1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.03	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.08	+0.30

Correlation

The correlation between FDUS and HRZN is 0.34, 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

FDUS vs. HRZN - Dividend Comparison

FDUS's dividend yield for the trailing twelve months is around 12.23%, less than HRZN's 30.17% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDUS Fidus Investment Corporation	12.23%	11.14%	11.51%	14.63%	10.51%	8.90%	10.15%	10.78%	13.69%	10.54%	10.17%	11.69%
HRZN Horizon Technology Finance Corporation	30.17%	20.47%	15.24%	10.40%	10.86%	7.85%	9.44%	9.28%	10.67%	10.70%	12.96%	11.76%

Drawdowns

FDUS vs. HRZN - Drawdown Comparison

The maximum FDUS drawdown since its inception was -68.76%, which is greater than HRZN's maximum drawdown of -61.42%. Use the drawdown chart below to compare losses from any high point for FDUS and HRZN.

Drawdown Indicators

	FDUS	HRZN	Difference
Max Drawdown Largest peak-to-trough decline	-68.76%	-61.42%	-7.34%
Max Drawdown (1Y) Largest decline over 1 year	-16.45%	-48.49%	+32.04%
Max Drawdown (5Y) Largest decline over 5 years	-23.94%	-61.42%	+37.48%
Max Drawdown (10Y) Largest decline over 10 years	-68.76%	-61.42%	-7.34%
Current Drawdown Current decline from peak	-14.68%	-59.80%	+45.12%
Average Drawdown Average peak-to-trough decline	-8.90%	-12.75%	+3.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.39%	23.41%	-16.02%

Volatility

FDUS vs. HRZN - Volatility Comparison

The current volatility for Fidus Investment Corporation (FDUS) is 7.64%, while Horizon Technology Finance Corporation (HRZN) has a volatility of 30.32%. This indicates that FDUS experiences smaller price fluctuations and is considered to be less risky than HRZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDUS	HRZN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	30.32%	-22.68%
Volatility (6M) Calculated over the trailing 6-month period	14.72%	34.98%	-20.26%
Volatility (1Y) Calculated over the trailing 1-year period	22.87%	41.59%	-18.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	30.51%	-10.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.49%	35.80%	-2.31%

Financials