EBIT vs. LSEQ

Last updated Jul 14, 2026

EBIT (Harbor AlphaEdge Small Cap Earners ETF) and LSEQ (Harbor Long-Short Equity ETF) are both exchange-traded funds - EBIT is a Small Cap Value Equities fund tracking the Harbor AlphaEdge Small Cap Earners Index, while LSEQ is a Long-Short fund actively managed by Harbor. EBIT is passively managed, while LSEQ is actively managed. Over the past year, EBIT returned 23.46% vs 26.98% for LSEQ. At a 0.18 correlation, their price movements are largely independent. EBIT charges 0.29%/yr vs 1.70%/yr for LSEQ.

Performance

EBIT vs. LSEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Small Cap Earners ETF (EBIT) and Harbor Long-Short Equity ETF (LSEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EBIT achieves a 17.90% return, which is significantly lower than LSEQ's 23.57% return.

EBIT

• 1D: 0.02%
• 1M: 0.38%
• 6M: 12.46%
• YTD: 17.90%
• 1Y: 23.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LSEQ

• 1D: -0.87%
• 1M: -4.76%
• 6M: 17.36%
• YTD: 23.57%
• 1Y: 26.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EBIT vs. LSEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EBIT Harbor AlphaEdge Small Cap Earners ETF	17.90%	6.85%	9.01%
LSEQ Harbor Long-Short Equity ETF	23.57%	4.13%	-3.58%

Correlation

The correlation between EBIT and LSEQ is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	0.18

The correlation between EBIT and LSEQ shifts across timeframes, from 0.18 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.

EBIT vs. LSEQ - Sectors Allocation Comparison

Sectors	EBIT	LSEQ
Financial Services	25.8%	-2.4%
Consumer Cyclical	14.4%	15.9%
Industrials	14.2%	23.1%
Energy	11.9%	6.7%
Real Estate	7.7%	-
Technology	7.7%	-13.3%
Basic Materials	4.4%	23.0%
Healthcare	4.4%	33.0%
Communication Services	3.6%	-1.0%
Consumer Defensive	3.1%	4.9%
Utilities	2.9%	6.7%

Return for Risk

EBIT vs. LSEQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EBIT

EBIT Risk / Return Rank: 57
EBIT Sharpe Ratio Rank: 50
EBIT Sortino Ratio Rank: 55
EBIT Omega Ratio Rank: 50
EBIT Calmar Ratio Rank: 70
EBIT Martin Ratio Rank: 59

LSEQ

LSEQ Risk / Return Rank: 71
LSEQ Sharpe Ratio Rank: 66
LSEQ Sortino Ratio Rank: 64
LSEQ Omega Ratio Rank: 65
LSEQ Calmar Ratio Rank: 84
LSEQ Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EBIT vs. LSEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Small Cap Earners ETF (EBIT) and Harbor Long-Short Equity ETF (LSEQ). 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.

	EBIT	LSEQ	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.70	-0.30
Sortino ratio: Return per unit of downside risk	2.14	2.36	-0.21
Omega ratio: Gain probability vs. loss probability	1.25	1.31	-0.05
Calmar ratio: Return relative to maximum drawdown	2.83	3.66	-0.84
Martin ratio: Return relative to average drawdown	8.18	10.91	-2.74

EBIT vs. LSEQ - Sharpe Ratio Comparison

The current EBIT Sharpe Ratio is 1.40, which is comparable to the LSEQ Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of EBIT and LSEQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EBIT vs. LSEQ - Drawdown Comparison

The maximum EBIT drawdown since its inception was -26.64%, which is greater than LSEQ's maximum drawdown of -8.35%. Use the drawdown chart below to compare losses from any high point for EBIT and LSEQ.

Drawdown Indicators

	EBIT	LSEQ	Difference
Max Drawdown Largest peak-to-trough decline	-26.64%	-8.35%	-18.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-7.40%	-0.94%
Current Drawdown Current decline from peak	-1.54%	-5.38%	+3.84%
Average Drawdown Average peak-to-trough decline	-6.24%	-3.20%	-3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	2.48%	+0.40%

Volatility

EBIT vs. LSEQ - Volatility Comparison

The current volatility for Harbor AlphaEdge Small Cap Earners ETF (EBIT) is 3.70%, while Harbor Long-Short Equity ETF (LSEQ) has a volatility of 5.80%. This indicates that EBIT experiences smaller price fluctuations and is considered to be less risky than LSEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBIT	LSEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	5.80%	-2.10%
Volatility (6M) Calculated over the trailing 6-month period	10.63%	13.65%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.90%	15.95%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	14.56%	+6.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.88%	14.56%	+6.32%

EBIT vs. LSEQ - Expense Ratio Comparison

EBIT has a 0.29% expense ratio, which is lower than LSEQ's 1.70% expense ratio.

Dividends

EBIT vs. LSEQ - Dividend Comparison

EBIT's dividend yield for the trailing twelve months is around 1.69%, less than LSEQ's 1.78% yield.

Position	TTM	2025	2024
EBIT Harbor AlphaEdge Small Cap Earners ETF	1.69%	2.00%	2.40%
LSEQ Harbor Long-Short Equity ETF	1.78%	2.20%	0.00%

Frequently Asked Questions

Can I hold both EBIT and LSEQ in my portfolio?

EBIT and LSEQ have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBIT or LSEQ?

LSEQ has higher volatility (5.80%) compared to EBIT (3.70%). In terms of maximum drawdown, EBIT dropped -26.64% vs LSEQ's -8.35%.

Which ETF is better, EBIT or LSEQ?

On 1-year performance, LSEQ leads with 26.98% vs 23.46% for EBIT. On fees, EBIT is cheaper at 0.29% per year. On volatility, EBIT has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EBIT or LSEQ?

Over the 1-year period, LSEQ has performed better with a 26.98% return vs 23.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBIT or LSEQ?

EBIT is cheaper with a 0.29% expense ratio, compared with 1.70% for LSEQ.

Which ETF pays a higher dividend yield, EBIT or LSEQ?

LSEQ has the higher dividend yield at 1.78%, compared with 1.69% for EBIT.

What is the main difference between EBIT and LSEQ?

EBIT is categorized as Small Cap Value Equities, while LSEQ is Long-Short. Their fees differ too: 0.29% for EBIT and 1.70% for LSEQ.

Which has better risk-adjusted returns?

LSEQ currently has the higher Sharpe Ratio (1.70 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.