HTGC vs. TFLO
HTGC (Hercules Capital, Inc.) is a stock, while TFLO (iShares Treasury Floating Rate Bond ETF) is Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index. Over the past 10 years, HTGC returned 13.93%/yr vs 2.40%/yr for TFLO. At a correlation of -0.03, they often move in opposite directions.
Performance
HTGC vs. TFLO - Performance Comparison
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Returns By Period
In the year-to-date period, HTGC achieves a -5.60% return, which is significantly lower than TFLO's 2.04% return. Over the past 10 years, HTGC has outperformed TFLO with an annualized return of 13.93%, while TFLO has yielded a comparatively lower 2.40% annualized return.
HTGC
- 1D
- 1.61%
- 1M
- 7.21%
- 6M
- -6.34%
- YTD
- -5.60%
- 1Y
- -2.73%
- 3Y*
- 12.49%
- 5Y*
- 11.19%
- 10Y*
- 13.93%
TFLO
- 1D
- 0.00%
- 1M
- 0.33%
- 6M
- 1.90%
- YTD
- 2.04%
- 1Y
- 3.94%
- 3Y*
- 4.67%
- 5Y*
- 3.72%
- 10Y*
- 2.40%
HTGC vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | -5.60% | 3.54% | 33.33% | 42.91% | -10.42% | 26.50% | 14.49% | 39.86% | -6.86% | 1.86% |
TFLO iShares Treasury Floating Rate Bond ETF | 2.04% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Correlation
The correlation between HTGC and TFLO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | -0.03 |
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Return for Risk
HTGC vs. TFLO — Risk / Return Rank
HTGC
TFLO
HTGC vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hercules Capital, Inc. (HTGC) and iShares Treasury Floating Rate Bond ETF (TFLO). 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.
| HTGC | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.78 | ||
| Sortino ratioReturn per unit of downside risk | -47.36 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 12.34 | -11.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 199.41 | -199.52 |
| Martin ratioReturn relative to average drawdown | -0.24 | 766.50 | -766.73 |
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Drawdowns
HTGC vs. TFLO - Drawdown Comparison
The maximum HTGC drawdown since its inception was -68.21%, which is greater than TFLO's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for HTGC and TFLO.
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Drawdown Indicators
| HTGC | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.21% | -5.01% | -63.20% |
Max Drawdown (1Y)Largest decline over 1 year | -24.74% | -0.02% | -24.72% |
Max Drawdown (3Y)Largest decline over 3 years | -27.97% | -0.04% | -27.93% |
Max Drawdown (5Y)Largest decline over 5 years | -36.11% | -0.13% | -35.98% |
Max Drawdown (10Y)Largest decline over 10 years | -57.54% | -0.16% | -57.38% |
Current DrawdownCurrent decline from peak | -10.74% | 0.00% | -10.74% |
Average DrawdownAverage peak-to-trough decline | -10.89% | -0.10% | -10.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.59% | 0.01% | +11.58% |
Volatility
HTGC vs. TFLO - Volatility Comparison
Hercules Capital, Inc. (HTGC) has a higher volatility of 5.83% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.10%. This indicates that HTGC's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HTGC | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 0.10% | +5.73% |
Volatility (6M)Calculated over the trailing 6-month period | 20.51% | 0.20% | +20.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.76% | 0.29% | +23.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.86% | 0.36% | +25.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.88% | 0.45% | +27.43% |
Dividends
HTGC vs. TFLO - Dividend Comparison
HTGC's dividend yield for the trailing twelve months is around 13.44%, more than TFLO's 3.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | 13.44% | 9.99% | 9.56% | 11.40% | 13.77% | 9.76% | 9.02% | 9.49% | 11.40% | 9.45% | 8.79% | 10.17% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.84% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Frequently Asked Questions
HTGC and TFLO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTGC has higher volatility (5.83%) compared to TFLO (0.10%). In terms of maximum drawdown, HTGC dropped -68.21% vs TFLO's -5.01%.
TFLO currently has the higher Sharpe Ratio (13.67 vs -0.12), 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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