EBIT vs. MAPP

Last updated Jun 23, 2026

EBIT (Harbor AlphaEdge Small Cap Earners ETF) and MAPP (Harbor Multi-Asset Explorer ETF) are both exchange-traded funds - EBIT is a Small Cap Value Equities fund tracking the Harbor AlphaEdge Small Cap Earners Index, while MAPP is a Global Allocation fund actively managed by Harbor. EBIT is passively managed, while MAPP is actively managed. Over the past year, EBIT returned 30.02% vs 20.98% for MAPP. A 0.67 correlation means they provide meaningful diversification when combined. EBIT charges 0.29%/yr vs 0.92%/yr for MAPP.

Performance

EBIT vs. MAPP - Performance Comparison

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

Returns By Period

In the year-to-date period, EBIT achieves a 16.62% return, which is significantly higher than MAPP's 7.14% return.

EBIT

• 1D: 0.49%
• 1M: 4.52%
• YTD: 16.62%
• 6M: 14.65%
• 1Y: 30.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAPP

• 1D: -0.02%
• 1M: 0.91%
• YTD: 7.14%
• 6M: 6.86%
• 1Y: 20.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EBIT vs. MAPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EBIT Harbor AlphaEdge Small Cap Earners ETF	16.62%	6.85%	9.01%
MAPP Harbor Multi-Asset Explorer ETF	7.14%	18.67%	3.03%

Correlation

The correlation between EBIT and MAPP is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	0.67

The correlation between EBIT and MAPP has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

Return for Risk

EBIT vs. MAPP — Risk / Return Rank

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

EBIT

EBIT Risk / Return Rank: 59
EBIT Sharpe Ratio Rank: 52
EBIT Sortino Ratio Rank: 56
EBIT Omega Ratio Rank: 50
EBIT Calmar Ratio Rank: 74
EBIT Martin Ratio Rank: 60

MAPP

MAPP Risk / Return Rank: 70
MAPP Sharpe Ratio Rank: 69
MAPP Sortino Ratio Rank: 69
MAPP Omega Ratio Rank: 70
MAPP Calmar Ratio Rank: 70
MAPP Martin Ratio Rank: 72

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. MAPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Small Cap Earners ETF (EBIT) and Harbor Multi-Asset Explorer ETF (MAPP). 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	MAPP	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.17	-0.41
Sortino ratio: Return per unit of downside risk	2.61	3.01	-0.39
Omega ratio: Gain probability vs. loss probability	1.31	1.40	-0.09
Calmar ratio: Return relative to maximum drawdown	3.62	3.41	+0.20
Martin ratio: Return relative to average drawdown	10.37	12.97	-2.60

EBIT vs. MAPP - Sharpe Ratio Comparison

The current EBIT Sharpe Ratio is 1.75, which is comparable to the MAPP Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of EBIT and MAPP, 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. MAPP - Drawdown Comparison

The maximum EBIT drawdown since its inception was -26.64%, which is greater than MAPP's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for EBIT and MAPP.

Drawdown Indicators

	EBIT	MAPP	Difference
Max Drawdown Largest peak-to-trough decline	-26.64%	-12.92%	-13.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-6.17%	-2.17%
Current Drawdown Current decline from peak	-0.71%	-0.76%	+0.05%
Average Drawdown Average peak-to-trough decline	-6.39%	-1.39%	-5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	1.62%	+1.28%

Volatility

EBIT vs. MAPP - Volatility Comparison

Harbor AlphaEdge Small Cap Earners ETF (EBIT) and Harbor Multi-Asset Explorer ETF (MAPP) have volatilities of 4.13% and 4.29%, 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.

Volatility by Period

	EBIT	MAPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	4.29%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	8.05%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	9.74%	+7.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.12%	10.92%	+10.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	10.92%	+10.20%

EBIT vs. MAPP - Expense Ratio Comparison

EBIT has a 0.29% expense ratio, which is lower than MAPP's 0.92% expense ratio.

Dividends

EBIT vs. MAPP - Dividend Comparison

EBIT's dividend yield for the trailing twelve months is around 1.71%, less than MAPP's 2.76% yield.

Position	TTM	2025	2024	2023
EBIT Harbor AlphaEdge Small Cap Earners ETF	1.71%	2.00%	2.40%	0.00%
MAPP Harbor Multi-Asset Explorer ETF	2.76%	2.96%	2.41%	2.78%

Frequently Asked Questions

Can I hold both EBIT and MAPP in my portfolio?

EBIT and MAPP have a correlation of 0.64, 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 MAPP?

MAPP has higher volatility (4.29%) compared to EBIT (4.13%). In terms of maximum drawdown, EBIT dropped -26.64% vs MAPP's -12.92%.

Which ETF is better, EBIT or MAPP?

On 1-year performance, EBIT leads with 30.02% vs 20.98% for MAPP. On fees, EBIT is cheaper at 0.29% per year. On volatility, EBIT has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EBIT or MAPP?

Over the 1-year period, EBIT has performed better with a 30.02% return vs 20.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBIT or MAPP?

EBIT is cheaper with a 0.29% expense ratio, compared with 0.92% for MAPP.

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

MAPP has the higher dividend yield at 2.76%, compared with 1.71% for EBIT.

What is the main difference between EBIT and MAPP?

EBIT is categorized as Small Cap Value Equities, while MAPP is Global Allocation. Their fees differ too: 0.29% for EBIT and 0.92% for MAPP.

Which has better risk-adjusted returns?

MAPP currently has the higher Sharpe Ratio (2.17 vs 1.75), 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.