HRZN vs. AGNC

Last updated Jun 23, 2026

HRZN (Horizon Technology Finance Corporation) and AGNC (AGNC Investment Corp.) are both stocks. HRZN operates in Asset Management (Financial Services), while AGNC operates in REIT - Mortgage (Real Estate). Over the past 10 years, HRZN returned 2.04%/yr vs 6.20%/yr for AGNC. At a 0.28 correlation, their price movements are largely independent.

Performance

HRZN vs. AGNC - Performance Comparison

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

Returns By Period

In the year-to-date period, HRZN achieves a -22.06% return, which is significantly lower than AGNC's 2.35% return. Over the past 10 years, HRZN has underperformed AGNC with an annualized return of 2.04%, while AGNC has yielded a comparatively higher 6.20% annualized return.

HRZN

• 1D: -1.42%
• 1M: 16.35%
• YTD: -22.06%
• 6M: -21.21%
• 1Y: -24.65%
• 3Y*: -14.96%
• 5Y*: -13.03%
• 10Y*: 2.04%

AGNC

• 1D: 0.00%
• 1M: 2.83%
• YTD: 2.35%
• 6M: 2.16%
• 1Y: 29.25%
• 3Y*: 17.58%
• 5Y*: 3.79%
• 10Y*: 6.20%

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

HRZN vs. AGNC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HRZN Horizon Technology Finance Corporation	-22.06%	-14.44%	-22.87%	26.99%	-19.72%	29.74%	14.08%	26.88%	11.71%	18.62%
AGNC AGNC Investment Corp.	2.35%	34.92%	8.90%	10.14%	-21.65%	5.20%	-1.78%	13.31%	-2.46%	23.73%

Correlation

The correlation between HRZN and AGNC is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 29, 2010	0.28

The correlation between HRZN and AGNC shifts across timeframes, from 0.28 (all time) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HRZN : $196.84M AGNC : $11.65B
EPS HRZN : $0.63 AGNC : $1.33
PE Ratio HRZN : 6.56 AGNC : 7.80
PEG Ratio HRZN : 0.13 AGNC : 0.02
PS Ratio HRZN : 3.46 AGNC : 4.79
PB Ratio HRZN : 0.59 AGNC : 1.14
Total Revenue (TTM) HRZN : $53.12M AGNC : $2.33B
Gross Profit (TTM) HRZN : $47.15M AGNC : $2.30B
EBITDA (TTM) HRZN : $51.20M AGNC : $3.72B

Return for Risk

HRZN vs. AGNC — Risk / Return Rank

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

HRZN

HRZN Risk / Return Rank: 20
HRZN Sharpe Ratio Rank: 17
HRZN Sortino Ratio Rank: 19
HRZN Omega Ratio Rank: 17
HRZN Calmar Ratio Rank: 23
HRZN Martin Ratio Rank: 23

AGNC

AGNC Risk / Return Rank: 76
AGNC Sharpe Ratio Rank: 82
AGNC Sortino Ratio Rank: 78
AGNC Omega Ratio Rank: 76
AGNC Calmar Ratio Rank: 71
AGNC Martin Ratio Rank: 74

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.

HRZN vs. AGNC - Risk-Adjusted Trends Comparison

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

	HRZN	AGNC	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	1.50	-2.07
Sortino ratio: Return per unit of downside risk	-0.55	2.10	-2.64
Omega ratio: Gain probability vs. loss probability	0.92	1.26	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.53	1.57	-2.10
Martin ratio: Return relative to average drawdown	-0.94	4.46	-5.40

HRZN vs. AGNC - Sharpe Ratio Comparison

The current HRZN Sharpe Ratio is -0.57, which is lower than the AGNC Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of HRZN and AGNC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HRZN vs. AGNC - Drawdown Comparison

The maximum HRZN drawdown since its inception was -62.57%, which is greater than AGNC's maximum drawdown of -54.56%. Use the drawdown chart below to compare losses from any high point for HRZN and AGNC.

Drawdown Indicators

	HRZN	AGNC	Difference
Max Drawdown Largest peak-to-trough decline	-62.57%	-54.56%	-8.01%
Max Drawdown (1Y) Largest decline over 1 year	-46.88%	-18.71%	-28.17%
Max Drawdown (3Y) Largest decline over 3 years	-59.36%	-31.04%	-28.32%
Max Drawdown (5Y) Largest decline over 5 years	-62.57%	-50.65%	-11.92%
Max Drawdown (10Y) Largest decline over 10 years	-62.57%	-54.56%	-8.01%
Current Drawdown Current decline from peak	-54.23%	-9.85%	-44.38%
Average Drawdown Average peak-to-trough decline	-13.41%	-13.55%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.24%	6.57%	+19.67%

Volatility

HRZN vs. AGNC - Volatility Comparison

Horizon Technology Finance Corporation (HRZN) has a higher volatility of 18.30% compared to AGNC Investment Corp. (AGNC) at 5.44%. This indicates that HRZN's price experiences larger fluctuations and is considered to be riskier than AGNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HRZN	AGNC	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.30%	5.44%	+12.86%
Volatility (6M) Calculated over the trailing 6-month period	41.25%	16.24%	+25.01%
Volatility (1Y) Calculated over the trailing 1-year period	43.82%	19.61%	+24.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.88%	25.73%	+6.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.68%	25.42%	+11.26%

Dividends

HRZN vs. AGNC - Dividend Comparison

HRZN's dividend yield for the trailing twelve months is around 37.03%, more than AGNC's 13.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGNC AGNC Investment Corp.	13.87%	13.43%	15.64%	14.68%	13.91%	9.57%	10.00%	11.31%	12.31%	10.70%	12.69%	14.30%
HRZN Horizon Technology Finance Corporation	37.03%	20.47%	15.24%	10.40%	10.86%	7.85%	9.44%	9.28%	10.67%	10.70%	12.96%	11.76%

Financials

Frequently Asked Questions

Can I hold both HRZN and AGNC in my portfolio?

HRZN and AGNC have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HRZN or AGNC?

HRZN has higher volatility (18.30%) compared to AGNC (5.44%). In terms of maximum drawdown, HRZN dropped -62.57% vs AGNC's -54.56%.

Which has better risk-adjusted returns?

AGNC currently has the higher Sharpe Ratio (1.50 vs -0.57), 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.