EFFE vs. HGER

Last updated Jul 14, 2026

EFFE (Harbor Osmosis Emerging Markets Resource Efficient ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - EFFE is a Emerging Markets Diversified fund actively managed by Harbor, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. EFFE is actively managed, while HGER is passively managed. Over the past year, EFFE returned 20.88% vs 34.37% for HGER. At a 0.09 correlation, their price movements are largely independent. EFFE charges 0.69%/yr vs 0.68%/yr for HGER.

Performance

EFFE vs. HGER - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) 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, EFFE achieves a 14.42% return, which is significantly lower than HGER's 25.42% return.

EFFE

• 1D: -3.28%
• 1M: -5.51%
• 6M: 10.72%
• YTD: 14.42%
• 1Y: 20.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HGER

• 1D: 1.83%
• 1M: 3.18%
• 6M: 21.27%
• YTD: 25.42%
• 1Y: 34.37%
• 3Y*: 18.74%
• 5Y*: —
• 10Y*: —

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

EFFE vs. HGER - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	14.42%	22.42%	-0.84%
HGER Harbor Commodity All-Weather Strategy ETF	25.42%	20.08%	1.36%

Correlation

The correlation between EFFE and HGER is 0.07, 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	0.07
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.09

Return for Risk

EFFE vs. HGER — Risk / Return Rank

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

EFFE

EFFE Risk / Return Rank: 34
EFFE Sharpe Ratio Rank: 30
EFFE Sortino Ratio Rank: 29
EFFE Omega Ratio Rank: 33
EFFE Calmar Ratio Rank: 37
EFFE Martin Ratio Rank: 38

HGER

HGER Risk / Return Rank: 71
HGER Sharpe Ratio Rank: 78
HGER Sortino Ratio Rank: 75
HGER Omega Ratio Rank: 78
HGER Calmar Ratio Rank: 62
HGER Martin Ratio Rank: 63

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. HGER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) 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.

	EFFE	HGER	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.98	-1.07
Sortino ratio: Return per unit of downside risk	1.32	2.68	-1.36
Omega ratio: Gain probability vs. loss probability	1.18	1.36	-0.18
Calmar ratio: Return relative to maximum drawdown	1.53	2.46	-0.93
Martin ratio: Return relative to average drawdown	4.77	8.94	-4.17

EFFE vs. HGER - Sharpe Ratio Comparison

The current EFFE Sharpe Ratio is 0.91, which is lower than the HGER Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of EFFE 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

EFFE vs. HGER - Drawdown Comparison

The maximum EFFE drawdown since its inception was -13.75%, smaller than the maximum HGER drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for EFFE and HGER.

Drawdown Indicators

	EFFE	HGER	Difference
Max Drawdown Largest peak-to-trough decline	-13.75%	-23.31%	+9.56%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-14.04%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.04%	—
Current Drawdown Current decline from peak	-11.61%	-6.99%	-4.62%
Average Drawdown Average peak-to-trough decline	-2.37%	-7.70%	+5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	3.86%	+0.53%

Volatility

EFFE vs. HGER - Volatility Comparison

Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) has a higher volatility of 9.89% compared to Harbor Commodity All-Weather Strategy ETF (HGER) at 5.90%. This indicates that EFFE'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

	EFFE	HGER	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.89%	5.90%	+3.99%
Volatility (6M) Calculated over the trailing 6-month period	21.21%	15.41%	+5.80%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	17.47%	+5.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.52%	17.68%	+3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.52%	17.68%	+3.84%

EFFE vs. HGER - Expense Ratio Comparison

EFFE has a 0.69% expense ratio, which is higher than HGER's 0.68% expense ratio.

Dividends

EFFE vs. HGER - Dividend Comparison

EFFE's dividend yield for the trailing twelve months is around 4.10%, less than HGER's 5.65% yield.

Position	TTM	2025	2024	2023	2022
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	4.10%	4.69%	0.00%	0.00%	0.00%
HGER Harbor Commodity All-Weather Strategy ETF	5.65%	7.09%	3.28%	7.24%	0.64%

Frequently Asked Questions

Can I hold both EFFE and HGER in my portfolio?

EFFE and HGER have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFFE or HGER?

EFFE has higher volatility (9.89%) compared to HGER (5.90%). In terms of maximum drawdown, EFFE dropped -13.75% vs HGER's -23.31%.

Which ETF is better, EFFE or HGER?

On 1-year performance, HGER leads with 34.37% vs 20.88% for EFFE. On fees, HGER is cheaper at 0.68% per year. On volatility, HGER has been the lower-risk option at 5.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFFE or HGER?

Over the 1-year period, HGER has performed better with a 34.37% return vs 20.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFFE or HGER?

HGER is cheaper with a 0.68% expense ratio, compared with 0.69% for EFFE.

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

HGER has the higher dividend yield at 5.65%, compared with 4.10% for EFFE.

What is the main difference between EFFE and HGER?

EFFE is categorized as Emerging Markets Diversified, while HGER is Commodities. Their fees differ too: 0.69% for EFFE and 0.68% for HGER.

Which has better risk-adjusted returns?

HGER currently has the higher Sharpe Ratio (1.98 vs 0.91), 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.