EDIV vs. HGER

Last updated Jun 13, 2026

EDIV (SPDR S&P Emerging Markets Dividend ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - EDIV is a Emerging Markets Equities fund tracking the S&P Emerging Markets Dividend Opportunities Index, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, EDIV returned 18.11%/yr vs 19.07%/yr for HGER. At a 0.26 correlation, their price movements are largely independent. EDIV charges 0.49%/yr vs 0.68%/yr for HGER.

Performance

EDIV vs. HGER - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Emerging Markets Dividend ETF (EDIV) and Harbor Commodity All-Weather Strategy ETF (HGER). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDIV achieves a 7.76% return, which is significantly lower than HGER's 21.56% return.

EDIV

• 1D: 0.70%
• 1M: 0.99%
• YTD: 7.76%
• 6M: 9.12%
• 1Y: 13.72%
• 3Y*: 18.11%
• 5Y*: 10.84%
• 10Y*: 9.49%

HGER

• 1D: -0.46%
• 1M: -9.24%
• YTD: 21.56%
• 6M: 21.36%
• 1Y: 31.96%
• 3Y*: 19.07%
• 5Y*: —
• 10Y*: —

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

EDIV vs. HGER - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EDIV SPDR S&P Emerging Markets Dividend ETF	7.76%	16.45%	12.75%	41.91%	-20.65%
HGER Harbor Commodity All-Weather Strategy ETF	21.56%	20.08%	9.25%	1.93%	9.66%

Correlation

The correlation between EDIV and HGER is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022	0.26

The correlation between EDIV and HGER shifts across timeframes, from -0.03 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

EDIV vs. HGER - Sectors Allocation Comparison

Sectors	EDIV	HGER
Financial Services	29.7%	-
Communication Services	13.8%	-
Consumer Defensive	12.8%	-
Consumer Cyclical	11.8%	-
Industrials	9.7%	-
Technology	8.4%	-
Real Estate	5.1%	-
Energy	3.2%	-
Utilities	2.5%	-
Basic Materials	1.7%	103.6%
Healthcare	1.3%	-

Return for Risk

EDIV vs. HGER — Risk / Return Rank

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

EDIV

EDIV Risk / Return Rank: 33
EDIV Sharpe Ratio Rank: 34
EDIV Sortino Ratio Rank: 34
EDIV Omega Ratio Rank: 34
EDIV Calmar Ratio Rank: 30
EDIV Martin Ratio Rank: 31

HGER

HGER Risk / Return Rank: 68
HGER Sharpe Ratio Rank: 66
HGER Sortino Ratio Rank: 62
HGER Omega Ratio Rank: 67
HGER Calmar Ratio Rank: 73
HGER Martin Ratio Rank: 71

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.

EDIV vs. HGER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Emerging Markets Dividend ETF (EDIV) 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.

	EDIV	HGER	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.88	-0.79
Sortino ratio: Return per unit of downside risk	1.60	2.51	-0.90
Omega ratio: Gain probability vs. loss probability	1.21	1.35	-0.14
Calmar ratio: Return relative to maximum drawdown	1.33	3.26	-1.93
Martin ratio: Return relative to average drawdown	4.01	11.51	-7.50

EDIV vs. HGER - Sharpe Ratio Comparison

The current EDIV Sharpe Ratio is 1.09, which is lower than the HGER Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of EDIV and HGER, 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

EDIV vs. HGER - Drawdown Comparison

The maximum EDIV drawdown since its inception was -53.36%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for EDIV and HGER.

Drawdown Indicators

	EDIV	HGER	Difference
Max Drawdown Largest peak-to-trough decline	-53.36%	-23.31%	-30.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.36%	-9.86%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-9.86%	-3.98%
Max Drawdown (5Y) Largest decline over 5 years	-28.32%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.76%	—	—
Current Drawdown Current decline from peak	-2.86%	-9.86%	+7.00%
Average Drawdown Average peak-to-trough decline	-19.33%	-7.65%	-11.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	2.78%	+0.65%

Volatility

EDIV vs. HGER - Volatility Comparison

SPDR S&P Emerging Markets Dividend ETF (EDIV) has a higher volatility of 4.64% compared to Harbor Commodity All-Weather Strategy ETF (HGER) at 3.70%. This indicates that EDIV'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.

Volatility by Period

	EDIV	HGER	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	3.70%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	10.57%	14.85%	-4.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	17.10%	-4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	17.62%	-3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.49%	17.62%	-0.13%

EDIV vs. HGER - Expense Ratio Comparison

EDIV has a 0.49% expense ratio, which is lower than HGER's 0.68% expense ratio.

Dividends

EDIV vs. HGER - Dividend Comparison

EDIV's dividend yield for the trailing twelve months is around 4.45%, less than HGER's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDIV SPDR S&P Emerging Markets Dividend ETF	4.45%	4.69%	3.94%	4.26%	4.94%	3.84%	3.52%	3.83%	3.41%	2.99%	4.94%	5.33%
HGER Harbor Commodity All-Weather Strategy ETF	5.83%	7.09%	3.28%	7.24%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EDIV and HGER in my portfolio?

EDIV and HGER have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDIV or HGER?

EDIV has higher volatility (4.64%) compared to HGER (3.70%). In terms of maximum drawdown, EDIV dropped -53.36% vs HGER's -23.31%.

Which ETF is better, EDIV or HGER?

On 3-year performance, HGER leads with 19.07% vs 18.11% for EDIV. On fees, EDIV is cheaper at 0.49% per year. On volatility, HGER 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, EDIV or HGER?

Over the 3-year period, HGER has performed better with a 19.07% return vs 18.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDIV or HGER?

EDIV is cheaper with a 0.49% expense ratio, compared with 0.68% for HGER.

Which ETF pays a higher dividend yield, EDIV or HGER?

HGER has the higher dividend yield at 5.83%, compared with 4.45% for EDIV.

What is the main difference between EDIV and HGER?

EDIV is categorized as Emerging Markets Equities, while HGER is Commodities. EDIV tracks S&P Emerging Markets Dividend Opportunities Index, while HGER tracks Quantix Commodity Index - Benchmark TR Net. They also come from different issuers: State Street and Harbor. Their fees differ too: 0.49% for EDIV and 0.68% for HGER.

Which has better risk-adjusted returns?

HGER currently has the higher Sharpe Ratio (1.88 vs 1.09), 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.