EINC vs. HAP

Last updated Jun 4, 2026

EINC (VanEck Energy Income ETF) and HAP (VanEck Natural Resources ETF) are both Energy Equities funds from VanEck - EINC tracks the MVIS North America Energy Infrastructure Index while HAP tracks the MarketVector Global Natural Resources Index. Both are passively managed. Over the past 10 years, EINC returned 11.62%/yr vs 11.99%/yr for HAP. A 0.65 correlation means they provide meaningful diversification when combined. EINC charges 0.45%/yr vs 0.42%/yr for HAP.

Performance

EINC vs. HAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Energy Income ETF (EINC) and VanEck Natural Resources ETF (HAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EINC achieves a 24.74% return, which is significantly higher than HAP's 21.49% return. Both investments have delivered pretty close results over the past 10 years, with EINC having a 11.62% annualized return and HAP not far ahead at 11.99%.

EINC

• 1D: -0.39%
• 1M: -1.60%
• YTD: 24.74%
• 6M: 24.40%
• 1Y: 26.00%
• 3Y*: 29.18%
• 5Y*: 20.73%
• 10Y*: 11.62%

HAP

• 1D: -0.36%
• 1M: 0.64%
• YTD: 21.49%
• 6M: 23.70%
• 1Y: 46.66%
• 3Y*: 18.93%
• 5Y*: 11.51%
• 10Y*: 11.99%

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

EINC vs. HAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EINC VanEck Energy Income ETF	24.74%	7.11%	42.79%	15.55%	19.18%	38.05%	-19.89%	16.98%	-19.85%	-3.45%
HAP VanEck Natural Resources ETF	21.49%	34.91%	-4.08%	2.46%	7.84%	25.04%	6.30%	18.60%	-10.68%	17.12%

Correlation

The correlation between EINC and HAP 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 (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 14, 2012	0.65

Over the past year, the correlation between EINC and HAP has dropped to 0.31 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

EINC vs. HAP - Sectors Allocation Comparison

Sectors	EINC	HAP
Energy	99.5%	32.3%
Industrials	2.5%	10.2%
Utilities	0.6%	9.8%
Basic Materials	-	36.7%
Communication Services	-	-
Consumer Cyclical	-	0.2%
Consumer Defensive	-	6.5%
Financial Services	-	-
Healthcare	-	2.8%
Real Estate	-	0.4%
Technology	-	0.9%

Return for Risk

EINC vs. HAP — Risk / Return Rank

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

EINC

EINC Risk / Return Rank: 53
EINC Sharpe Ratio Rank: 51
EINC Sortino Ratio Rank: 49
EINC Omega Ratio Rank: 49
EINC Calmar Ratio Rank: 66
EINC Martin Ratio Rank: 53

HAP

HAP Risk / Return Rank: 89
HAP Sharpe Ratio Rank: 90
HAP Sortino Ratio Rank: 87
HAP Omega Ratio Rank: 88
HAP Calmar Ratio Rank: 90
HAP Martin Ratio Rank: 92

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.

EINC vs. HAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Energy Income ETF (EINC) and VanEck Natural Resources ETF (HAP). 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.

	EINC	HAP	Difference
Sharpe ratio: Return per unit of total volatility	1.78	3.14	-1.37
Sortino ratio: Return per unit of downside risk	2.43	4.01	-1.58
Omega ratio: Gain probability vs. loss probability	1.31	1.56	-0.25
Calmar ratio: Return relative to maximum drawdown	3.31	5.65	-2.33
Martin ratio: Return relative to average drawdown	9.18	23.05	-13.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EINC vs. HAP - Sharpe Ratio Comparison

The current EINC Sharpe Ratio is 1.78, which is lower than the HAP Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of EINC and HAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EINC	HAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	3.14	-1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	0.63	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.61	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.26	-0.22

Drawdowns

EINC vs. HAP - Drawdown Comparison

The maximum EINC drawdown since its inception was -87.55%, which is greater than HAP's maximum drawdown of -50.73%. Use the drawdown chart below to compare losses from any high point for EINC and HAP.

Drawdown Indicators

	EINC	HAP	Difference
Max Drawdown Largest peak-to-trough decline	-87.55%	-50.73%	-36.82%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-8.31%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-16.01%	-16.92%	+0.91%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-25.66%	+5.79%
Max Drawdown (10Y) Largest decline over 10 years	-68.85%	-44.07%	-24.78%
Current Drawdown Current decline from peak	-5.44%	-1.95%	-3.49%
Average Drawdown Average peak-to-trough decline	-44.29%	-12.03%	-32.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.03%	+0.82%

Volatility

EINC vs. HAP - Volatility Comparison

VanEck Energy Income ETF (EINC) has a higher volatility of 6.39% compared to VanEck Natural Resources ETF (HAP) at 4.37%. This indicates that EINC's price experiences larger fluctuations and is considered to be riskier than HAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EINC	HAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	4.37%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	11.57%	12.24%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	14.72%	14.91%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.58%	18.24%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	19.74%	+5.69%

EINC vs. HAP - Expense Ratio Comparison

EINC has a 0.45% expense ratio, which is higher than HAP's 0.42% expense ratio.

Dividends

EINC vs. HAP - Dividend Comparison

EINC's dividend yield for the trailing twelve months is around 3.55%, more than HAP's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINC VanEck Energy Income ETF	3.55%	4.51%	3.33%	3.77%	2.89%	6.03%	6.69%	9.66%	11.31%	8.53%	9.71%	28.53%
HAP VanEck Natural Resources ETF	1.87%	2.27%	2.65%	3.27%	3.28%	2.16%	2.45%	2.80%	2.85%	2.02%	1.99%	3.00%

Frequently Asked Questions

Can I hold both EINC and HAP in my portfolio?

EINC and HAP 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 is riskier, EINC or HAP?

EINC has higher volatility (6.39%) compared to HAP (4.37%). In terms of maximum drawdown, EINC dropped -87.55% vs HAP's -50.73%.

Which ETF is better, EINC or HAP?

On 10-year performance, HAP leads with 11.99% vs 11.62% for EINC. On fees, HAP is cheaper at 0.42% per year. On volatility, HAP has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EINC or HAP?

Over the 10-year period, HAP has performed better with a 11.99% return vs 11.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EINC or HAP?

HAP is cheaper with a 0.42% expense ratio, compared with 0.45% for EINC.

Which ETF pays a higher dividend yield, EINC or HAP?

EINC has the higher dividend yield at 3.55%, compared with 1.87% for HAP.

What is the main difference between EINC and HAP?

EINC tracks MVIS North America Energy Infrastructure Index, while HAP tracks MarketVector Global Natural Resources Index. Their fees differ too: 0.45% for EINC and 0.42% for HAP.

Which has better risk-adjusted returns?

HAP currently has the higher Sharpe Ratio (3.14 vs 1.78), 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.