HTGC vs. WHF
HTGC (Hercules Capital, Inc.) and WHF (WhiteHorse Finance, Inc.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, HTGC returned 13.55%/yr vs 7.17%/yr for WHF. Their 0.33 correlation means their historical movements had little consistent relationship.
Performance
HTGC vs. WHF - Performance Comparison
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Returns By Period
In the year-to-date period, HTGC achieves a -5.31% return, which is significantly lower than WHF's -1.44% return. Over the past 10 years, HTGC has outperformed WHF with an annualized return of 13.55%, while WHF has yielded a comparatively lower 7.17% annualized return.
HTGC
- 1D
- 3.01%
- 1M
- 5.45%
- 6M
- -3.83%
- YTD
- -5.31%
- 1Y
- -2.08%
- 3Y*
- 10.85%
- 5Y*
- 11.05%
- 10Y*
- 13.55%
- ALL TIME*
- 11.95%
WHF
- 1D
- -0.23%
- 1M
- -3.98%
- 6M
- 2.09%
- YTD
- -1.44%
- 1Y
- -14.28%
- 3Y*
- -9.79%
- 5Y*
- -3.92%
- 10Y*
- 7.17%
- ALL TIME*
- 6.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.38M | $23.62M | $24.96M | |
| $308.71K | $396.71K | $548.65K |
HTGC vs. WHF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | -5.31% | 3.54% | 33.33% | 42.91% | -10.42% | 26.50% | 14.49% | 39.86% | -6.86% | 1.86% |
WHF WhiteHorse Finance, Inc. | -1.44% | -15.36% | -8.52% | 6.26% | -6.23% | 25.77% | 19.14% | 20.83% | 4.80% | 21.87% |
Correlation
The correlation between HTGC and WHF is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2012 | 0.33 |
Fundamentals
HTGC:
$3.07B
WHF:
$137.13M
HTGC:
$1.29
WHF:
$0.69
HTGC:
12.74
WHF:
9.24
HTGC:
5.88
WHF:
3.05
HTGC:
1.44
WHF:
0.57
HTGC:
$548.69M
WHF:
$47.81M
HTGC:
$474.96M
WHF:
$14.33M
HTGC:
$343.23M
WHF:
-$4.37M
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Return for Risk
HTGC vs. WHF — Risk / Return Rank
HTGC
WHF
HTGC vs. WHF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hercules Capital, Inc. (HTGC) and WhiteHorse Finance, Inc. (WHF). 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 | WHF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.93 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | -0.61 | +0.61 |
| Martin ratioReturn relative to average drawdown | -0.00 | -1.13 | +1.13 |
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Drawdowns
HTGC vs. WHF - Drawdown Comparison
The maximum HTGC drawdown since its inception was -68.21%, which is greater than WHF's maximum drawdown of -57.48%. Use the drawdown chart below to compare losses from any high point for HTGC and WHF.
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Drawdown Indicators
| HTGC | WHF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.21% | -57.48% | -10.73% |
Max Drawdown (1Y)Largest decline over 1 year | -24.74% | -23.68% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -27.97% | -37.91% | +9.94% |
Max Drawdown (5Y)Largest decline over 5 years | -36.11% | -37.91% | +1.80% |
Max Drawdown (10Y)Largest decline over 10 years | -57.54% | -57.48% | -0.06% |
Current DrawdownCurrent decline from peak | -10.47% | -31.28% | +20.81% |
Average DrawdownAverage peak-to-trough decline | -10.89% | -9.17% | -1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.73% | 12.70% | -0.97% |
Volatility
HTGC vs. WHF - Volatility Comparison
Hercules Capital, Inc. (HTGC) has a higher volatility of 6.80% compared to WhiteHorse Finance, Inc. (WHF) at 4.43%. This indicates that HTGC's price experiences larger fluctuations and is considered to be riskier than WHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HTGC | WHF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.80% | 4.43% | +2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 20.91% | 19.87% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.11% | 27.90% | -3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.93% | 22.94% | +2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.91% | 31.55% | -3.64% |
Dividends
HTGC vs. WHF - Dividend Comparison
HTGC's dividend yield for the trailing twelve months is around 13.40%, less than WHF's 18.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | 13.40% | 9.99% | 9.56% | 11.40% | 13.77% | 9.76% | 9.02% | 9.49% | 11.40% | 9.45% | 8.79% | 10.17% |
WHF WhiteHorse Finance, Inc. | 18.48% | 20.72% | 18.44% | 12.60% | 11.26% | 10.03% | 13.96% | 11.79% | 11.16% | 10.58% | 11.67% | 12.37% |
Financials
HTGC vs. WHF - Financials Comparison
This section allows you to compare key financial metrics between Hercules Capital, Inc. and WhiteHorse Finance, Inc.. 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
HTGC vs. WHF - Profitability Comparison
HTGC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Hercules Capital, Inc. reported a gross profit of 107.33M and revenue of 125.70M. Therefore, the gross margin over that period was 85.4%.
WHF - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, WhiteHorse Finance, Inc. reported a gross profit of 0.00 and revenue of 15.86M. Therefore, the gross margin over that period was 0.0%.
HTGC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Hercules Capital, Inc. reported an operating income of 64.60M and revenue of 125.70M, resulting in an operating margin of 51.4%.
WHF - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, WhiteHorse Finance, Inc. reported an operating income of 0.00 and revenue of 15.86M, resulting in an operating margin of 0.0%.
HTGC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Hercules Capital, Inc. reported a net income of 0.00 and revenue of 125.70M, resulting in a net margin of 0.0%.
WHF - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, WhiteHorse Finance, Inc. reported a net income of 5.73M and revenue of 15.86M, resulting in a net margin of 36.1%.
Frequently Asked Questions
HTGC and WHF have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTGC has higher volatility (6.80%) compared to WHF (4.43%). In terms of maximum drawdown, HTGC dropped -68.21% vs WHF's -57.48%.
HTGC currently has the higher Sharpe Ratio (-0.00 vs -0.52), 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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