DJP vs. HGER
DJP (iPath Bloomberg Commodity Index Total Return ETN) and HGER (Harbor Commodity All-Weather Strategy ETF) are both Commodities funds - DJP tracks the Bloomberg Commodity Index while HGER tracks the Quantix Commodity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, DJP returned 12.62%/yr vs 17.92%/yr for HGER. Their correlation of 0.84 suggests significant overlap in exposure. DJP charges 0.70%/yr vs 0.68%/yr for HGER.
Performance
DJP vs. HGER - Performance Comparison
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Returns By Period
In the year-to-date period, DJP achieves a 17.18% return, which is significantly lower than HGER's 18.53% return.
DJP
- 1D
- -1.45%
- 1M
- -10.97%
- YTD
- 17.18%
- 6M
- 15.04%
- 1Y
- 26.02%
- 3Y*
- 12.62%
- 5Y*
- 10.72%
- 10Y*
- 6.24%
HGER
- 1D
- -0.51%
- 1M
- -8.46%
- YTD
- 18.53%
- 6M
- 16.24%
- 1Y
- 26.94%
- 3Y*
- 17.92%
- 5Y*
- —
- 10Y*
- —
DJP vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 17.18% | 17.20% | 5.59% | -9.85% | 4.59% |
HGER Harbor Commodity All-Weather Strategy ETF | 18.53% | 20.08% | 9.25% | 1.93% | 9.66% |
Correlation
The correlation between DJP and HGER is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.84 |
The correlation between DJP and HGER has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
DJP vs. HGER — Risk / Return Rank
DJP
HGER
DJP vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) and Harbor Commodity All-Weather Strategy ETF (HGER). 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.
| DJP | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 2.24 | -0.45 |
| Martin ratioReturn relative to average drawdown | 6.99 | 9.09 | -2.09 |
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Drawdowns
DJP vs. HGER - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for DJP and HGER.
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Drawdown Indicators
| DJP | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.35% | -23.31% | -55.04% |
Max Drawdown (1Y)Largest decline over 1 year | -14.66% | -12.10% | -2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -14.66% | -12.10% | -2.56% |
Max Drawdown (5Y)Largest decline over 5 years | -28.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | — | — |
Current DrawdownCurrent decline from peak | -39.74% | -12.10% | -27.64% |
Average DrawdownAverage peak-to-trough decline | -50.82% | -7.67% | -43.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 3.00% | +0.76% |
Volatility
DJP vs. HGER - Volatility Comparison
iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 4.23% compared to Harbor Commodity All-Weather Strategy ETF (HGER) at 3.60%. This indicates that DJP's price experiences larger fluctuations and is considered to be riskier than HGER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DJP | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 3.60% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 16.88% | 14.89% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 17.00% | +2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 17.59% | +1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.06% | 17.59% | -0.53% |
DJP vs. HGER - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is higher than HGER's 0.68% expense ratio.
Dividends
DJP vs. HGER - Dividend Comparison
DJP has not paid dividends to shareholders, while HGER's dividend yield for the trailing twelve months is around 5.98%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HGER Harbor Commodity All-Weather Strategy ETF | 5.98% | 7.09% | 3.28% | 7.24% | 0.64% |
Frequently Asked Questions
DJP and HGER have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DJP has higher volatility (4.23%) compared to HGER (3.60%). In terms of maximum drawdown, DJP dropped -78.35% vs HGER's -23.31%.
On 3-year performance, HGER leads with 17.92% vs 12.62% for DJP. On fees, HGER is cheaper at 0.68% per year. On volatility, HGER has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HGER has performed better with a 17.92% return vs 12.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HGER is cheaper with a 0.68% expense ratio, compared with 0.70% for DJP.
HGER has the higher dividend yield at 5.98%, compared with 0.00% for DJP.
DJP tracks Bloomberg Commodity Index, while HGER tracks Quantix Commodity Index - Benchmark TR Net. They also come from different issuers: Barclays Capital and Harbor. Their fees differ too: 0.70% for DJP and 0.68% for HGER.
HGER currently has the higher Sharpe Ratio (1.61 vs 1.37), 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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