TCPC vs. PSEC
TCPC (BlackRock TCP Capital Corp.) and PSEC (Prospect Capital Corporation) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, TCPC returned -3.14%/yr vs -0.27%/yr for PSEC. At a 0.46 correlation, their price movements are largely independent.
Performance
TCPC vs. PSEC - Performance Comparison
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Returns By Period
In the year-to-date period, TCPC achieves a -33.58% return, which is significantly lower than PSEC's -5.78% return. Over the past 10 years, TCPC has underperformed PSEC with an annualized return of -3.14%, while PSEC has yielded a comparatively higher -0.27% annualized return.
TCPC
- 1D
- -3.23%
- 1M
- -7.14%
- YTD
- -33.58%
- 6M
- -32.72%
- 1Y
- -47.68%
- 3Y*
- -20.04%
- 5Y*
- -13.84%
- 10Y*
- -3.14%
PSEC
- 1D
- 1.81%
- 1M
- 0.20%
- YTD
- -5.78%
- 6M
- -0.61%
- 1Y
- -14.46%
- 3Y*
- -16.73%
- 5Y*
- -13.77%
- 10Y*
- -0.27%
TCPC vs. PSEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TCPC BlackRock TCP Capital Corp. | -33.58% | -26.24% | -12.26% | 3.23% | 5.61% | 30.76% | -9.17% | 19.31% | -5.59% | -1.22% |
PSEC Prospect Capital Corporation | -5.78% | -28.86% | -18.16% | -4.13% | -8.61% | 70.00% | -3.54% | 13.83% | 4.09% | -9.44% |
Correlation
The correlation between TCPC and PSEC is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2012 | 0.46 |
The correlation between TCPC and PSEC has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.
Fundamentals
TCPC:
-$1.29
PSEC:
-$0.28
TCPC:
4.90
PSEC:
5.07
TCPC:
$57.18M
PSEC:
$151.90M
TCPC:
-$116.96M
PSEC:
-$59.07M
TCPC:
-$43.73M
PSEC:
-$94.23M
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Return for Risk
TCPC vs. PSEC — Risk / Return Rank
TCPC
PSEC
TCPC vs. PSEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock TCP Capital Corp. (TCPC) and Prospect Capital Corporation (PSEC). 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.
| TCPC | PSEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 0.95 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.54 | -0.42 |
| Martin ratioReturn relative to average drawdown | -1.59 | -0.94 | -0.64 |
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Drawdowns
TCPC vs. PSEC - Drawdown Comparison
The maximum TCPC drawdown since its inception was -69.08%, which is greater than PSEC's maximum drawdown of -61.51%. Use the drawdown chart below to compare losses from any high point for TCPC and PSEC.
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Drawdown Indicators
| TCPC | PSEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.08% | -61.51% | -7.57% |
Max Drawdown (1Y)Largest decline over 1 year | -50.21% | -27.04% | -23.17% |
Max Drawdown (3Y)Largest decline over 3 years | -58.91% | -50.64% | -8.27% |
Max Drawdown (5Y)Largest decline over 5 years | -58.91% | -57.21% | -1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -69.08% | -57.21% | -11.87% |
Current DrawdownCurrent decline from peak | -58.63% | -54.54% | -4.09% |
Average DrawdownAverage peak-to-trough decline | -10.07% | -15.68% | +5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.10% | 15.34% | +14.76% |
Volatility
TCPC vs. PSEC - Volatility Comparison
BlackRock TCP Capital Corp. (TCPC) has a higher volatility of 11.31% compared to Prospect Capital Corporation (PSEC) at 10.45%. This indicates that TCPC's price experiences larger fluctuations and is considered to be riskier than PSEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCPC | PSEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.31% | 10.45% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 30.56% | 27.62% | +2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.21% | 33.95% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.45% | 28.00% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.53% | 27.39% | +7.14% |
Dividends
TCPC vs. PSEC - Dividend Comparison
TCPC's dividend yield for the trailing twelve months is around 26.67%, more than PSEC's 23.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSEC Prospect Capital Corporation | 23.56% | 20.85% | 16.01% | 12.02% | 10.30% | 8.56% | 13.31% | 11.18% | 11.41% | 13.45% | 11.98% | 14.72% |
TCPC BlackRock TCP Capital Corp. | 26.67% | 20.48% | 16.76% | 14.64% | 9.81% | 8.88% | 11.74% | 10.25% | 11.04% | 9.42% | 8.52% | 10.34% |
Financials
TCPC vs. PSEC - Financials Comparison
This section allows you to compare key financial metrics between BlackRock TCP Capital Corp. and Prospect Capital Corporation. 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
TCPC vs. PSEC - Profitability Comparison
TCPC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BlackRock TCP Capital Corp. reported a gross profit of 0.00 and revenue of 42.58M. Therefore, the gross margin over that period was 0.0%.
PSEC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Prospect Capital Corporation reported a gross profit of 0.00 and revenue of 123.07M. Therefore, the gross margin over that period was 0.0%.
TCPC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BlackRock TCP Capital Corp. reported an operating income of 0.00 and revenue of 42.58M, resulting in an operating margin of 0.0%.
PSEC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Prospect Capital Corporation reported an operating income of 0.00 and revenue of 123.07M, resulting in an operating margin of 0.0%.
TCPC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BlackRock TCP Capital Corp. reported a net income of 0.00 and revenue of 42.58M, resulting in a net margin of 0.0%.
PSEC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Prospect Capital Corporation reported a net income of 0.00 and revenue of 123.07M, resulting in a net margin of 0.0%.
Frequently Asked Questions
TCPC and PSEC have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCPC has higher volatility (11.31%) compared to PSEC (10.45%). In terms of maximum drawdown, TCPC dropped -69.08% vs PSEC's -61.51%.
PSEC currently has the higher Sharpe Ratio (-0.43 vs -1.40), 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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