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 13.56%/yr vs 2.36%/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 -12.40% return, which is significantly lower than TFLO's 1.59% return. Over the past 10 years, HTGC has outperformed TFLO with an annualized return of 13.56%, while TFLO has yielded a comparatively lower 2.36% annualized return.
HTGC
- 1D
- 2.30%
- 1M
- -3.60%
- YTD
- -12.40%
- 6M
- -12.95%
- 1Y
- -2.10%
- 3Y*
- 13.13%
- 5Y*
- 9.53%
- 10Y*
- 13.56%
TFLO
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.59%
- 6M
- 1.92%
- 1Y
- 3.97%
- 3Y*
- 4.74%
- 5Y*
- 3.63%
- 10Y*
- 2.36%
HTGC vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | -12.40% | 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 | 1.59% | 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 -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 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.
| HTGC | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.18 | ||
| Sortino ratioReturn per unit of downside risk | -50.83 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 13.94 | -12.94 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 201.22 | -201.31 |
| Martin ratioReturn relative to average drawdown | -0.20 | 823.26 | -823.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HTGC | TFLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | 14.09 | -14.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 10.30 | -9.93 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 5.20 | -4.71 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.99 | -0.63 |
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 | -17.17% | 0.00% | -17.17% |
Average DrawdownAverage peak-to-trough decline | -10.86% | -0.10% | -10.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.75% | 0.00% | +10.75% |
Volatility
HTGC vs. TFLO - Volatility Comparison
Hercules Capital, Inc. (HTGC) has a higher volatility of 5.73% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.07%. 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 | 5.73% | 0.07% | +5.66% |
Volatility (6M)Calculated over the trailing 6-month period | 20.07% | 0.20% | +19.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.24% | 0.28% | +22.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.74% | 0.35% | +25.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.84% | 0.46% | +27.38% |
Dividends
HTGC vs. TFLO - Dividend Comparison
HTGC's dividend yield for the trailing twelve months is around 11.62%, more than TFLO's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | 11.62% | 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 | 3.90% | 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 -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTGC has higher volatility (5.73%) compared to TFLO (0.07%). In terms of maximum drawdown, HTGC dropped -68.21% vs TFLO's -5.01%.
TFLO currently has the higher Sharpe Ratio (14.09 vs -0.09), 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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