EPAI vs. HAPS

Last updated Jun 24, 2026

EPAI (Harbor AI Inflection Strategy ETF) and HAPS (Harbor Human Capital Factor US Small Cap ETF) are both exchange-traded funds - EPAI is a Technology Equities fund actively managed by Harbor, while HAPS is a Small Cap Blend Equities fund tracking the Human Capital Factor Small Cap Index - Benchmark TR Gross. EPAI is actively managed, while HAPS is passively managed. A 0.57 correlation means they provide meaningful diversification when combined. EPAI charges 0.88%/yr vs 0.60%/yr for HAPS.

Performance

EPAI vs. HAPS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AI Inflection Strategy ETF (EPAI) and Harbor Human Capital Factor US Small Cap ETF (HAPS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPAI achieves a 48.89% return, which is significantly higher than HAPS's 14.76% return.

EPAI

• 1D: -4.72%
• 1M: 7.32%
• YTD: 48.89%
• 6M: 46.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HAPS

• 1D: 0.13%
• 1M: 4.37%
• YTD: 14.76%
• 6M: 12.78%
• 1Y: 30.70%
• 3Y*: 13.58%
• 5Y*: —
• 10Y*: —

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

EPAI vs. HAPS - Yearly Performance Comparison

	2026 (YTD)	2025
EPAI Harbor AI Inflection Strategy ETF	48.89%	-0.33%
HAPS Harbor Human Capital Factor US Small Cap ETF	14.76%	-0.93%

Correlation

The correlation between EPAI and HAPS is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.57

Return for Risk

EPAI vs. HAPS — Risk / Return Rank

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

EPAI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HAPS

HAPS Risk / Return Rank: 61
HAPS Sharpe Ratio Rank: 59
HAPS Sortino Ratio Rank: 63
HAPS Omega Ratio Rank: 53
HAPS Calmar Ratio Rank: 67
HAPS 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.

EPAI vs. HAPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AI Inflection Strategy ETF (EPAI) and Harbor Human Capital Factor US Small Cap ETF (HAPS). 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.

	EPAI	HAPS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.81	—
Sortino ratio: Return per unit of downside risk	—	2.66	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	3.08	—
Martin ratio: Return relative to average drawdown	—	10.43	—

Drawdowns

EPAI vs. HAPS - Drawdown Comparison

The maximum EPAI drawdown since its inception was -12.31%, smaller than the maximum HAPS drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for EPAI and HAPS.

Drawdown Indicators

	EPAI	HAPS	Difference
Max Drawdown Largest peak-to-trough decline	-12.31%	-27.44%	+15.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.44%	—
Current Drawdown Current decline from peak	-4.72%	0.00%	-4.72%
Average Drawdown Average peak-to-trough decline	-2.65%	-6.04%	+3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.95%	—

Volatility

Volatility by Period

	EPAI	HAPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.01%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.26%	17.10%	+16.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.26%	20.75%	+12.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.26%	20.75%	+12.51%

EPAI vs. HAPS - Expense Ratio Comparison

EPAI has a 0.88% expense ratio, which is higher than HAPS's 0.60% expense ratio.

Dividends

EPAI vs. HAPS - Dividend Comparison

EPAI has not paid dividends to shareholders, while HAPS's dividend yield for the trailing twelve months is around 0.49%.

Position	TTM	2025	2024	2023
EPAI Harbor AI Inflection Strategy ETF	0.00%	0.00%	0.00%	0.00%
HAPS Harbor Human Capital Factor US Small Cap ETF	0.49%	0.57%	0.72%	0.42%

Frequently Asked Questions

Can I hold both EPAI and HAPS in my portfolio?

EPAI and HAPS have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EPAI or HAPS?

On fees, HAPS is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EPAI or HAPS?

HAPS is cheaper with a 0.60% expense ratio, compared with 0.88% for EPAI.

Which ETF pays a higher dividend yield, EPAI or HAPS?

HAPS has the higher dividend yield at 0.49%, compared with 0.00% for EPAI.

What is the main difference between EPAI and HAPS?

EPAI is categorized as Technology Equities, while HAPS is Small Cap Blend Equities. Their fees differ too: 0.88% for EPAI and 0.60% for HAPS.