MAIN vs. HTGC
MAIN (Main Street Capital Corporation) and HTGC (Hercules Capital, Inc.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, MAIN returned 12.67%/yr vs 13.51%/yr for HTGC. At a 0.49 correlation, their price movements are largely independent.
Performance
MAIN vs. HTGC - Performance Comparison
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Returns By Period
In the year-to-date period, MAIN achieves a -13.32% return, which is significantly higher than HTGC's -14.31% return. Over the past 10 years, MAIN has underperformed HTGC with an annualized return of 12.67%, while HTGC has yielded a comparatively higher 13.51% annualized return.
MAIN
- 1D
- -0.63%
- 1M
- 2.57%
- YTD
- -13.32%
- 6M
- -11.86%
- 1Y
- -6.72%
- 3Y*
- 18.83%
- 5Y*
- 12.09%
- 10Y*
- 12.67%
HTGC
- 1D
- -1.68%
- 1M
- -0.72%
- YTD
- -14.31%
- 6M
- -12.31%
- 1Y
- -5.78%
- 3Y*
- 14.02%
- 5Y*
- 8.78%
- 10Y*
- 13.51%
MAIN vs. HTGC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAIN Main Street Capital Corporation | -13.32% | 10.74% | 47.30% | 28.22% | -11.37% | 48.31% | -19.54% | 36.88% | -8.27% | 16.62% |
HTGC Hercules Capital, Inc. | -14.31% | 3.54% | 33.33% | 42.91% | -10.42% | 26.50% | 14.49% | 39.86% | -6.86% | 1.86% |
Correlation
The correlation between MAIN and HTGC is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2007 | 0.49 |
Over the past year, MAIN and HTGC have become more correlated (0.70) than their long-term average of 0.49, meaning their price movements have been converging.
Fundamentals
MAIN:
$4.56B
HTGC:
$3.00B
MAIN:
$5.22
HTGC:
$1.49
MAIN:
9.65
HTGC:
10.22
MAIN:
1.10
HTGC:
0.31
MAIN:
6.42
HTGC:
5.12
MAIN:
1.48
HTGC:
1.35
MAIN:
$704.17M
HTGC:
$578.18M
MAIN:
$499.08M
HTGC:
$510.74M
MAIN:
$396.90M
HTGC:
$380.44M
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Return for Risk
MAIN vs. HTGC — Risk / Return Rank
MAIN
HTGC
MAIN vs. HTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Main Street Capital Corporation (MAIN) and Hercules Capital, Inc. (HTGC). 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.
| MAIN | HTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.98 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | -0.23 | -0.07 |
| Martin ratioReturn relative to average drawdown | -0.58 | -0.52 | -0.07 |
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Drawdowns
MAIN vs. HTGC - Drawdown Comparison
The maximum MAIN drawdown since its inception was -64.53%, smaller than the maximum HTGC drawdown of -68.21%. Use the drawdown chart below to compare losses from any high point for MAIN and HTGC.
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Drawdown Indicators
| MAIN | HTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.53% | -68.21% | +3.68% |
Max Drawdown (1Y)Largest decline over 1 year | -22.43% | -24.74% | +2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -27.97% | +5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -27.06% | -36.11% | +9.05% |
Max Drawdown (10Y)Largest decline over 10 years | -64.53% | -57.54% | -6.99% |
Current DrawdownCurrent decline from peak | -20.44% | -18.98% | -1.46% |
Average DrawdownAverage peak-to-trough decline | -7.32% | -10.87% | +3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.52% | 11.15% | +0.37% |
Volatility
MAIN vs. HTGC - Volatility Comparison
Main Street Capital Corporation (MAIN) and Hercules Capital, Inc. (HTGC) have volatilities of 5.97% and 5.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAIN | HTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 5.98% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 20.13% | 20.17% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.94% | 23.43% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.54% | 25.77% | -4.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.32% | 27.87% | -0.55% |
Dividends
MAIN vs. HTGC - Dividend Comparison
MAIN's dividend yield for the trailing twelve months is around 8.52%, less than HTGC's 11.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | 11.88% | 9.99% | 9.56% | 11.40% | 13.77% | 9.76% | 9.02% | 9.49% | 11.40% | 9.45% | 8.79% | 10.17% |
MAIN Main Street Capital Corporation | 8.52% | 7.00% | 7.02% | 8.55% | 7.97% | 5.74% | 6.99% | 6.76% | 8.43% | 7.49% | 7.42% | 9.15% |
Financials
MAIN vs. HTGC - Financials Comparison
This section allows you to compare key financial metrics between Main Street Capital Corporation and Hercules Capital, 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
MAIN vs. HTGC - Profitability Comparison
MAIN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Main Street Capital Corporation reported a gross profit of 0.00 and revenue of 140.11M. Therefore, the gross margin over that period was 0.0%.
HTGC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported a gross profit of 106.20M and revenue of 123.49M. Therefore, the gross margin over that period was 86.0%.
MAIN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Main Street Capital Corporation reported an operating income of 0.00 and revenue of 140.11M, resulting in an operating margin of 0.0%.
HTGC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported an operating income of 65.43M and revenue of 123.49M, resulting in an operating margin of 53.0%.
MAIN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Main Street Capital Corporation reported a net income of 90.82M and revenue of 140.11M, resulting in a net margin of 64.8%.
HTGC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported a net income of 0.00 and revenue of 123.49M, resulting in a net margin of 0.0%.
Frequently Asked Questions
MAIN and HTGC have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTGC has higher volatility (5.98%) compared to MAIN (5.97%). In terms of maximum drawdown, MAIN dropped -64.53% vs HTGC's -68.21%.
HTGC currently has the higher Sharpe Ratio (-0.25 vs -0.27), 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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