PFRL vs. HTGC
PFRL (PGIM Floating Rate Income ETF) is Bank Loan fund actively managed by PGIM, while HTGC (Hercules Capital, Inc.) is a stock. Over the past 3 years, PFRL returned 8.42%/yr vs 14.02%/yr for HTGC. At a 0.28 correlation, their price movements are largely independent.
Performance
PFRL vs. HTGC - Performance Comparison
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Returns By Period
In the year-to-date period, PFRL achieves a 2.49% return, which is significantly higher than HTGC's -14.25% return.
PFRL
- 1D
- 0.13%
- 1M
- 0.77%
- YTD
- 2.49%
- 6M
- 2.80%
- 1Y
- 6.42%
- 3Y*
- 8.42%
- 5Y*
- —
- 10Y*
- —
HTGC
- 1D
- 0.59%
- 1M
- -2.99%
- YTD
- -14.25%
- 6M
- -12.72%
- 1Y
- -5.45%
- 3Y*
- 14.02%
- 5Y*
- 8.91%
- 10Y*
- 13.73%
PFRL vs. HTGC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PFRL PGIM Floating Rate Income ETF | 2.49% | 6.25% | 9.40% | 13.75% | 1.27% |
HTGC Hercules Capital, Inc. | -14.25% | 3.54% | 33.33% | 42.91% | 1.27% |
Correlation
The correlation between PFRL and HTGC is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since May 24, 2022 | 0.28 |
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Return for Risk
PFRL vs. HTGC — Risk / Return Rank
PFRL
HTGC
PFRL vs. HTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Floating Rate Income ETF (PFRL) 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.
| PFRL | HTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.59 | ||
| Sortino ratioReturn per unit of downside risk | +5.00 | ||
| Omega ratioGain probability vs. loss probability | 1.73 | 0.98 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 5.14 | -0.22 | +5.36 |
| Martin ratioReturn relative to average drawdown | 17.48 | -0.48 | +17.96 |
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Drawdowns
PFRL vs. HTGC - Drawdown Comparison
The maximum PFRL drawdown since its inception was -8.83%, smaller than the maximum HTGC drawdown of -68.21%. Use the drawdown chart below to compare losses from any high point for PFRL and HTGC.
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Drawdown Indicators
| PFRL | HTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.83% | -68.21% | +59.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.25% | -24.74% | +23.49% |
Max Drawdown (3Y)Largest decline over 3 years | -8.83% | -27.97% | +19.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.54% | — |
Current DrawdownCurrent decline from peak | 0.00% | -18.93% | +18.93% |
Average DrawdownAverage peak-to-trough decline | -0.43% | -10.88% | +10.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 11.28% | -10.91% |
Volatility
PFRL vs. HTGC - Volatility Comparison
The current volatility for PGIM Floating Rate Income ETF (PFRL) is 0.46%, while Hercules Capital, Inc. (HTGC) has a volatility of 5.31%. This indicates that PFRL experiences smaller price fluctuations and is considered to be less risky than HTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFRL | HTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 5.31% | -4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 1.61% | 20.15% | -18.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.93% | 23.31% | -21.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.83% | 25.77% | -20.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 27.85% | -23.02% |
Dividends
PFRL vs. HTGC - Dividend Comparison
PFRL's dividend yield for the trailing twelve months is around 6.80%, 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% |
PFRL PGIM Floating Rate Income ETF | 6.80% | 7.34% | 8.96% | 9.84% | 3.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFRL and HTGC have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTGC has higher volatility (5.31%) compared to PFRL (0.46%). In terms of maximum drawdown, PFRL dropped -8.83% vs HTGC's -68.21%.
PFRL currently has the higher Sharpe Ratio (3.35 vs -0.23), 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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