FTLS vs. HGER
FTLS (First Trust Long/Short Equity ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - FTLS is a Long-Short fund actively managed by First Trust, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. FTLS is actively managed, while HGER is passively managed. Over the past 3 years, FTLS returned 13.13%/yr vs 18.61%/yr for HGER. Their 0.15 correlation means their historical movements had little consistent relationship. FTLS charges 1.38%/yr vs 0.68%/yr for HGER.
Performance
FTLS vs. HGER - Performance Comparison
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Returns By Period
In the year-to-date period, FTLS achieves a 6.03% return, which is significantly lower than HGER's 29.53% return.
FTLS
- 1D
- -0.31%
- 1M
- 1.85%
- 6M
- 4.95%
- YTD
- 6.03%
- 1Y
- 13.39%
- 3Y*
- 13.13%
- 5Y*
- 10.06%
- 10Y*
- 9.59%
- ALL TIME*
- 9.00%
HGER
- 1D
- 0.00%
- 1M
- 8.95%
- 6M
- 20.19%
- YTD
- 29.53%
- 1Y
- 40.17%
- 3Y*
- 18.61%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.26M | $8.04M | $8.94M | |
| $46.51M | $66.72M | $45.77M |
FTLS vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FTLS First Trust Long/Short Equity ETF | 6.03% | 9.09% | 18.80% | 16.94% | -3.36% |
HGER Harbor Commodity All-Weather Strategy ETF | 29.53% | 20.08% | 9.25% | 1.93% | 9.66% |
Correlation
The correlation between FTLS and HGER is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.15 |
The correlation between FTLS and HGER shifts across timeframes, from 0.02 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FTLS vs. HGER — Risk / Return Rank
FTLS
HGER
FTLS vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) 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.
| FTLS | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.41 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 2.87 | +0.68 |
| Martin ratioReturn relative to average drawdown | 10.80 | 10.23 | +0.57 |
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Drawdowns
FTLS vs. HGER - Drawdown Comparison
The maximum FTLS drawdown since its inception was -20.54%, smaller than the maximum HGER drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for FTLS and HGER.
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Drawdown Indicators
| FTLS | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -23.31% | +2.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -14.04% | +10.25% |
Max Drawdown (3Y)Largest decline over 3 years | -11.69% | -14.04% | +2.35% |
Max Drawdown (5Y)Largest decline over 5 years | -11.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -20.54% | — | — |
Current DrawdownCurrent decline from peak | -0.42% | -3.94% | +3.52% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -7.66% | +4.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 3.94% | -2.70% |
Volatility
FTLS vs. HGER - Volatility Comparison
The current volatility for First Trust Long/Short Equity ETF (FTLS) is 2.15%, while Harbor Commodity All-Weather Strategy ETF (HGER) has a volatility of 5.64%. This indicates that FTLS experiences smaller price fluctuations and is considered to be less risky than HGER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTLS | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.15% | 5.64% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 5.86% | 15.43% | -9.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.54% | 17.71% | -9.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.53% | 17.67% | -7.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.23% | 17.67% | -6.44% |
FTLS vs. HGER - Expense Ratio Comparison
FTLS has a 1.38% expense ratio, which is higher than HGER's 0.68% expense ratio.
Dividends
FTLS vs. HGER - Dividend Comparison
FTLS's dividend yield for the trailing twelve months is around 0.88%, less than HGER's 5.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTLS First Trust Long/Short Equity ETF | 0.88% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
HGER Harbor Commodity All-Weather Strategy ETF | 5.47% | 7.09% | 3.28% | 7.24% | 0.64% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTLS and HGER have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HGER has higher volatility (5.64%) compared to FTLS (2.15%). In terms of maximum drawdown, FTLS dropped -20.54% vs HGER's -23.31%.
On 3-year performance, HGER leads with 18.61% vs 13.13% for FTLS. On fees, HGER is cheaper at 0.68% per year. On volatility, FTLS has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HGER has performed better with a 18.61% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HGER is cheaper with a 0.68% expense ratio, compared with 1.38% for FTLS.
HGER has the higher dividend yield at 5.47%, compared with 0.88% for FTLS.
FTLS is categorized as Long-Short, while HGER is Commodities. They also come from different issuers: First Trust and Harbor. Their fees differ too: 1.38% for FTLS and 0.68% for HGER.
HGER currently has the higher Sharpe Ratio (2.28 vs 1.57), 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.
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