HRZN vs. GLAD
HRZN (Horizon Technology Finance Corporation) and GLAD (Gladstone Capital Corporation) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, HRZN returned 2.04%/yr vs 12.17%/yr for GLAD. At a 0.38 correlation, their price movements are largely independent.
Performance
HRZN vs. GLAD - Performance Comparison
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Returns By Period
In the year-to-date period, HRZN achieves a -22.06% return, which is significantly lower than GLAD's -7.00% return. Over the past 10 years, HRZN has underperformed GLAD with an annualized return of 2.04%, while GLAD has yielded a comparatively higher 12.17% 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%
GLAD
- 1D
- -1.23%
- 1M
- -2.59%
- YTD
- -7.00%
- 6M
- -5.72%
- 1Y
- -24.17%
- 3Y*
- 8.76%
- 5Y*
- 4.59%
- 10Y*
- 12.17%
HRZN vs. GLAD - 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% |
GLAD Gladstone Capital Corporation | -7.00% | -21.14% | 46.99% | 22.71% | -10.43% | 40.50% | -0.69% | 48.58% | -13.07% | 7.05% |
Correlation
The correlation between HRZN and GLAD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2010 | 0.38 |
The correlation between HRZN and GLAD shifts across timeframes, from 0.38 (all time) to 0.49 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
HRZN:
$196.84M
GLAD:
$523.62M
HRZN:
$0.63
GLAD:
$1.09
HRZN:
6.56
GLAD:
17.01
HRZN:
0.13
GLAD:
0.99
HRZN:
3.46
GLAD:
7.13
HRZN:
0.59
GLAD:
1.08
HRZN:
$53.12M
GLAD:
$66.59M
HRZN:
$47.15M
GLAD:
$28.95M
HRZN:
$51.20M
GLAD:
$27.90M
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Return for Risk
HRZN vs. GLAD — Risk / Return Rank
HRZN
GLAD
HRZN vs. GLAD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Technology Finance Corporation (HRZN) and Gladstone Capital Corporation (GLAD). 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 | GLAD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.85 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | -0.62 | +0.09 |
| Martin ratioReturn relative to average drawdown | -0.94 | -0.93 | -0.01 |
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Drawdowns
HRZN vs. GLAD - Drawdown Comparison
The maximum HRZN drawdown since its inception was -62.57%, smaller than the maximum GLAD drawdown of -74.87%. Use the drawdown chart below to compare losses from any high point for HRZN and GLAD.
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Drawdown Indicators
| HRZN | GLAD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.57% | -74.87% | +12.30% |
Max Drawdown (1Y)Largest decline over 1 year | -46.88% | -39.22% | -7.66% |
Max Drawdown (3Y)Largest decline over 3 years | -59.36% | -39.59% | -19.77% |
Max Drawdown (5Y)Largest decline over 5 years | -62.57% | -39.59% | -22.98% |
Max Drawdown (10Y)Largest decline over 10 years | -62.57% | -58.37% | -4.20% |
Current DrawdownCurrent decline from peak | -54.23% | -31.52% | -22.71% |
Average DrawdownAverage peak-to-trough decline | -13.41% | -18.72% | +5.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.24% | 25.91% | +0.33% |
Volatility
HRZN vs. GLAD - Volatility Comparison
Horizon Technology Finance Corporation (HRZN) has a higher volatility of 18.30% compared to Gladstone Capital Corporation (GLAD) at 6.72%. This indicates that HRZN's price experiences larger fluctuations and is considered to be riskier than GLAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HRZN | GLAD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.30% | 6.72% | +11.58% |
Volatility (6M)Calculated over the trailing 6-month period | 41.25% | 19.27% | +21.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.82% | 25.72% | +18.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.88% | 23.64% | +8.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.68% | 30.05% | +6.63% |
Dividends
HRZN vs. GLAD - Dividend Comparison
HRZN's dividend yield for the trailing twelve months is around 37.03%, more than GLAD's 9.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLAD Gladstone Capital Corporation | 9.72% | 9.85% | 8.37% | 9.16% | 8.42% | 6.73% | 8.97% | 8.46% | 11.51% | 9.12% | 8.95% | 11.49% |
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
HRZN vs. GLAD - Financials Comparison
This section allows you to compare key financial metrics between Horizon Technology Finance Corporation and Gladstone Capital Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HRZN vs. GLAD - Profitability Comparison
HRZN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Horizon Technology Finance Corporation reported a gross profit of 0.00 and revenue of 24.08M. Therefore, the gross margin over that period was 0.0%.
GLAD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Gladstone Capital Corporation reported a gross profit of 0.00 and revenue of 21.49M. Therefore, the gross margin over that period was 0.0%.
HRZN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Horizon Technology Finance Corporation reported an operating income of 0.00 and revenue of 24.08M, resulting in an operating margin of 0.0%.
GLAD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Gladstone Capital Corporation reported an operating income of 0.00 and revenue of 21.49M, resulting in an operating margin of 0.0%.
HRZN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Horizon Technology Finance Corporation reported a net income of 9.24M and revenue of 24.08M, resulting in a net margin of 38.4%.
GLAD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Gladstone Capital Corporation reported a net income of 0.00 and revenue of 21.49M, resulting in a net margin of 0.0%.
Frequently Asked Questions
HRZN and GLAD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HRZN has higher volatility (18.30%) compared to GLAD (6.72%). In terms of maximum drawdown, HRZN dropped -62.57% vs GLAD's -74.87%.
HRZN currently has the higher Sharpe Ratio (-0.57 vs -0.94), 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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