EBIT vs. SKRE

Last updated Jun 23, 2026

EBIT (Harbor AlphaEdge Small Cap Earners ETF) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both exchange-traded funds - EBIT is a Small Cap Value Equities fund tracking the Harbor AlphaEdge Small Cap Earners Index, while SKRE is a Large Cap Blend Equities fund tracking the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, EBIT returned 30.02% vs -48.03% for SKRE. At a correlation of -0.82, they often move in opposite directions. EBIT charges 0.29%/yr vs 0.75%/yr for SKRE.

Performance

EBIT vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Small Cap Earners ETF (EBIT) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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 SKRE's -25.15% return.

EBIT

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

SKRE

• 1D: -1.81%
• 1M: -8.81%
• YTD: -25.15%
• 6M: -19.71%
• 1Y: -48.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EBIT vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EBIT Harbor AlphaEdge Small Cap Earners ETF	16.62%	6.85%	9.01%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-25.15%	-31.29%	-44.33%

Correlation

The correlation between EBIT and SKRE is -0.80, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.80
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	-0.82

The correlation between EBIT and SKRE has been stable across timeframes, ranging from -0.82 to -0.80 - a consistent structural relationship.

Return for Risk

EBIT vs. SKRE — 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

SKRE

SKRE Risk / Return Rank: 1
SKRE Sharpe Ratio Rank: 1
SKRE Sortino Ratio Rank: 1
SKRE Omega Ratio Rank: 1
SKRE Calmar Ratio Rank: 0
SKRE Martin Ratio Rank: 1

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. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Small Cap Earners ETF (EBIT) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	1.75	-1.03	+2.78
Sortino ratio: Return per unit of downside risk	2.61	-1.60	+4.21
Omega ratio: Gain probability vs. loss probability	1.31	0.82	+0.49
Calmar ratio: Return relative to maximum drawdown	3.62	-1.03	+4.64
Martin ratio: Return relative to average drawdown	10.37	-1.66	+12.03

EBIT vs. SKRE - Sharpe Ratio Comparison

The current EBIT Sharpe Ratio is 1.75, which is higher than the SKRE Sharpe Ratio of -1.03. The chart below compares the historical Sharpe Ratios of EBIT and SKRE, 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. SKRE - Drawdown Comparison

The maximum EBIT drawdown since its inception was -26.64%, smaller than the maximum SKRE drawdown of -76.33%. Use the drawdown chart below to compare losses from any high point for EBIT and SKRE.

Drawdown Indicators

	EBIT	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-26.64%	-76.33%	+49.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-46.78%	+38.44%
Current Drawdown Current decline from peak	-0.71%	-75.72%	+75.01%
Average Drawdown Average peak-to-trough decline	-6.39%	-47.73%	+41.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	32.05%	-29.15%

Volatility

EBIT vs. SKRE - Volatility Comparison

The current volatility for Harbor AlphaEdge Small Cap Earners ETF (EBIT) is 4.13%, while Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a volatility of 12.10%. This indicates that EBIT experiences smaller price fluctuations and is considered to be less risky than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBIT	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	12.10%	-7.97%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	31.87%	-21.05%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	46.85%	-29.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.12%	55.46%	-34.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	55.46%	-34.34%

EBIT vs. SKRE - Expense Ratio Comparison

EBIT has a 0.29% expense ratio, which is lower than SKRE's 0.75% expense ratio.

Dividends

EBIT vs. SKRE - Dividend Comparison

EBIT's dividend yield for the trailing twelve months is around 1.71%, more than SKRE's 0.34% yield.

Position	TTM	2025	2024
EBIT Harbor AlphaEdge Small Cap Earners ETF	1.71%	2.00%	2.40%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.34%	0.26%	3.16%

Frequently Asked Questions

Can I hold both EBIT and SKRE in my portfolio?

EBIT and SKRE have a correlation of -0.80, 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 SKRE?

SKRE has higher volatility (12.10%) compared to EBIT (4.13%). In terms of maximum drawdown, EBIT dropped -26.64% vs SKRE's -76.33%.

Which ETF is better, EBIT or SKRE?

On 1-year performance, EBIT leads with 30.02% vs -48.03% for SKRE. 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 SKRE?

Over the 1-year period, EBIT has performed better with a 30.02% return vs -48.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBIT or SKRE?

EBIT is cheaper with a 0.29% expense ratio, compared with 0.75% for SKRE.

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

EBIT has the higher dividend yield at 1.71%, compared with 0.34% for SKRE.

What is the main difference between EBIT and SKRE?

EBIT is categorized as Small Cap Value Equities, while SKRE is Large Cap Blend Equities. EBIT tracks Harbor AlphaEdge Small Cap Earners Index, while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: Harbor and Tuttle. Their fees differ too: 0.29% for EBIT and 0.75% for SKRE.

Which has better risk-adjusted returns?

EBIT currently has the higher Sharpe Ratio (1.75 vs -1.03), 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.