EFFE vs. GBLD

Last updated Jun 3, 2026

EFFE (Harbor Osmosis Emerging Markets Resource Efficient ETF) and GBLD (Invesco MSCI Green Building ETF) are both exchange-traded funds - EFFE is a Emerging Markets Diversified fund actively managed by Harbor, while GBLD is a Sustainable fund tracking the MSCI Global Green Building Index. EFFE is actively managed, while GBLD is passively managed. At a 0.40 correlation, their price movements are largely independent. EFFE charges 0.69%/yr vs 0.39%/yr for GBLD.

Performance

EFFE vs. GBLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) and Invesco MSCI Green Building ETF (GBLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EFFE

• 1D: 0.79%
• 1M: 16.64%
• YTD: 29.45%
• 6M: 27.93%
• 1Y: 45.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GBLD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EFFE vs. GBLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	29.45%	22.42%	-0.84%
GBLD Invesco MSCI Green Building ETF	4.52%	17.95%	1.78%

Correlation

The correlation between EFFE and GBLD 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 Dec 20, 2024	0.40

Return for Risk

EFFE vs. GBLD — Risk / Return Rank

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

EFFE

EFFE Risk / Return Rank: 66
EFFE Sharpe Ratio Rank: 67
EFFE Sortino Ratio Rank: 62
EFFE Omega Ratio Rank: 68
EFFE Calmar Ratio Rank: 66
EFFE Martin Ratio Rank: 69

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.

EFFE vs. GBLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) and Invesco MSCI Green Building ETF (GBLD). 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.

	EFFE	GBLD	Difference
Sharpe ratio Return per unit of total volatility	2.28	—	—
Sortino ratio Return per unit of downside risk	3.01	—	—
Omega ratio Gain probability vs. loss probability	1.42	—	—
Calmar ratio Return relative to maximum drawdown	3.35	—	—
Martin ratio Return relative to average drawdown	13.05	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EFFE	GBLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.86	—	—

Drawdowns

Drawdown Indicators

	EFFE	GBLD	Difference
Max Drawdown Largest peak-to-trough decline	-13.75%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-1.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	—	—

Volatility

Volatility by Period

	EFFE	GBLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.09%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.93%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.93%	—	—

EFFE vs. GBLD - Expense Ratio Comparison

EFFE has a 0.69% expense ratio, which is higher than GBLD's 0.39% expense ratio.

Dividends

EFFE vs. GBLD - Dividend Comparison

EFFE's dividend yield for the trailing twelve months is around 3.63%, more than GBLD's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	3.63%	4.69%	0.00%	0.00%	0.00%	0.00%
GBLD Invesco MSCI Green Building ETF	3.45%	3.27%	5.34%	6.60%	3.79%	3.16%

Frequently Asked Questions

Can I hold both EFFE and GBLD in my portfolio?

EFFE and GBLD 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 ETF is better, EFFE or GBLD?

On fees, GBLD is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EFFE or GBLD?

GBLD is cheaper with a 0.39% expense ratio, compared with 0.69% for EFFE.

Which ETF pays a higher dividend yield, EFFE or GBLD?

EFFE has the higher dividend yield at 3.63%, compared with 3.45% for GBLD.

What is the main difference between EFFE and GBLD?

EFFE is categorized as Emerging Markets Diversified, while GBLD is Sustainable. They also come from different issuers: Harbor and Invesco. Their fees differ too: 0.69% for EFFE and 0.39% for GBLD.