EMES vs. MEDI

Last updated Jun 3, 2026

EMES (Harbor Emerging Markets Select ETF) and MEDI (Harbor Health Care ETF) are both exchange-traded funds - EMES is a Emerging Markets Diversified fund actively managed by Harbor, while MEDI is a Health & Biotech Equities fund actively managed by Harbor. Both are actively managed. Over the past year, EMES returned 49.02% vs 17.42% for MEDI. At a 0.23 correlation, their price movements are largely independent. EMES charges 0.65%/yr vs 0.80%/yr for MEDI.

Performance

EMES vs. MEDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Emerging Markets Select ETF (EMES) and Harbor Health Care ETF (MEDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMES achieves a 29.92% return, which is significantly higher than MEDI's -5.02% return.

EMES

• 1D: 0.32%
• 1M: 7.90%
• YTD: 29.92%
• 6M: 31.26%
• 1Y: 49.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MEDI

• 1D: -1.26%
• 1M: 0.31%
• YTD: -5.02%
• 6M: -5.18%
• 1Y: 17.42%
• 3Y*: 12.07%
• 5Y*: —
• 10Y*: —

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

EMES vs. MEDI - Yearly Performance Comparison

	2026 (YTD)	2025
EMES Harbor Emerging Markets Select ETF	29.92%	12.63%
MEDI Harbor Health Care ETF	-5.02%	31.86%

Correlation

The correlation between EMES and MEDI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since May 16, 2025	0.24

EMES vs. MEDI - Sectors Allocation Comparison

Sectors	EMES	MEDI
Technology	42.9%	-
Industrials	16.3%	-
Consumer Cyclical	14.8%	-
Financial Services	14.2%	-
Communication Services	4.7%	-
Consumer Defensive	3.1%	-
Real Estate	3.0%	-
Healthcare	1.1%	100.0%
Basic Materials	-	-
Energy	-	-
Utilities	-	-

Return for Risk

EMES vs. MEDI — Risk / Return Rank

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

EMES

EMES Risk / Return Rank: 72
EMES Sharpe Ratio Rank: 70
EMES Sortino Ratio Rank: 65
EMES Omega Ratio Rank: 71
EMES Calmar Ratio Rank: 76
EMES Martin Ratio Rank: 77

MEDI

MEDI Risk / Return Rank: 26
MEDI Sharpe Ratio Rank: 25
MEDI Sortino Ratio Rank: 26
MEDI Omega Ratio Rank: 24
MEDI Calmar Ratio Rank: 27
MEDI Martin Ratio Rank: 28

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.

EMES vs. MEDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Emerging Markets Select ETF (EMES) and Harbor Health Care ETF (MEDI). 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.

	EMES	MEDI	Difference
Sharpe ratio Return per unit of total volatility	2.36	0.88	+1.48
Sortino ratio Return per unit of downside risk	3.10	1.40	+1.70
Omega ratio Gain probability vs. loss probability	1.43	1.16	+0.27
Calmar ratio Return relative to maximum drawdown	3.86	1.37	+2.49
Martin ratio Return relative to average drawdown	15.03	4.13	+10.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMES vs. MEDI - Sharpe Ratio Comparison

The current EMES Sharpe Ratio is 2.36, which is higher than the MEDI Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of EMES and MEDI, 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

	EMES	MEDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	0.88	+1.48
Sharpe Ratio (All Time) Calculated using the full available price history	2.16	0.72	+1.44

Drawdowns

EMES vs. MEDI - Drawdown Comparison

The maximum EMES drawdown since its inception was -12.98%, smaller than the maximum MEDI drawdown of -19.24%. Use the drawdown chart below to compare losses from any high point for EMES and MEDI.

Drawdown Indicators

	EMES	MEDI	Difference
Max Drawdown Largest peak-to-trough decline	-12.98%	-19.24%	+6.26%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-15.34%	+2.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.24%	—
Current Drawdown Current decline from peak	0.00%	-8.97%	+8.97%
Average Drawdown Average peak-to-trough decline	-2.07%	-4.28%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	5.08%	-1.74%

Volatility

EMES vs. MEDI - Volatility Comparison

Harbor Emerging Markets Select ETF (EMES) has a higher volatility of 8.55% compared to Harbor Health Care ETF (MEDI) at 6.38%. This indicates that EMES's price experiences larger fluctuations and is considered to be riskier than MEDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMES	MEDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.55%	6.38%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	18.26%	15.48%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	20.85%	20.01%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	18.64%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	18.64%	+1.91%

EMES vs. MEDI - Expense Ratio Comparison

EMES has a 0.65% expense ratio, which is lower than MEDI's 0.80% expense ratio.

Dividends

EMES vs. MEDI - Dividend Comparison

EMES's dividend yield for the trailing twelve months is around 0.41%, more than MEDI's 0.29% yield.

Position	TTM	2025	2024	2023
EMES Harbor Emerging Markets Select ETF	0.41%	0.53%	0.00%	0.00%
MEDI Harbor Health Care ETF	0.29%	0.28%	0.54%	1.86%

Frequently Asked Questions

Can I hold both EMES and MEDI in my portfolio?

EMES and MEDI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMES or MEDI?

EMES has higher volatility (8.55%) compared to MEDI (6.38%). In terms of maximum drawdown, EMES dropped -12.98% vs MEDI's -19.24%.

Which ETF is better, EMES or MEDI?

On 1-year performance, EMES leads with 49.02% vs 17.42% for MEDI. On fees, EMES is cheaper at 0.65% per year. On volatility, MEDI has been the lower-risk option at 6.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMES or MEDI?

Over the 1-year period, EMES has performed better with a 49.02% return vs 17.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMES or MEDI?

EMES is cheaper with a 0.65% expense ratio, compared with 0.80% for MEDI.

Which ETF pays a higher dividend yield, EMES or MEDI?

EMES has the higher dividend yield at 0.41%, compared with 0.29% for MEDI.

What is the main difference between EMES and MEDI?

EMES is categorized as Emerging Markets Diversified, while MEDI is Health & Biotech Equities. Their fees differ too: 0.65% for EMES and 0.80% for MEDI.

Which has better risk-adjusted returns?

EMES currently has the higher Sharpe Ratio (2.36 vs 0.88), 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.