GDIV vs. EQL

Last updated Aug 2, 2026

GDIV (Harbor Dividend Growth Leaders ETF) and EQL (ALPS Equal Sector Weight ETF) are both Large Cap Blend Equities funds. GDIV is actively managed, while EQL is passively managed. Over the past 3 years, GDIV returned 15.21%/yr vs 14.59%/yr for EQL. Their correlation of 0.88 means they have usually moved in the same direction. GDIV charges 0.50%/yr vs 0.27%/yr for EQL.

Performance

GDIV vs. EQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Dividend Growth Leaders ETF (GDIV) and ALPS Equal Sector Weight ETF (EQL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDIV achieves a 13.44% return, which is significantly higher than EQL's 10.71% return.

GDIV

• 1D: -0.23%
• 1M: 1.97%
• 6M: 8.92%
• YTD: 13.44%
• 1Y: 23.99%
• 3Y*: 15.21%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.93%

EQL

• 1D: 0.57%
• 1M: 0.31%
• 6M: 6.82%
• YTD: 10.71%
• 1Y: 18.34%
• 3Y*: 14.59%
• 5Y*: 10.63%
• 10Y*: 12.39%
• ALL TIME*: 13.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EQL ALPS Equal Sector Weight ETF	$3.33M	$2.84M	$2.70M
GDIV Harbor Dividend Growth Leaders ETF	$154.83K	$211.08K	$199.90K

GDIV vs. EQL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDIV Harbor Dividend Growth Leaders ETF	13.44%	10.81%	14.83%	16.45%	-1.01%
EQL ALPS Equal Sector Weight ETF	10.71%	13.09%	16.44%	16.87%	-0.14%

Correlation

The correlation between GDIV and EQL is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (All Time) Calculated using the full available price history since May 23, 2022	0.88

The correlation between GDIV and EQL has been stable across timeframes, ranging from 0.78 to 0.88 - a consistent structural relationship.

GDIV vs. EQL - Sectors Allocation Comparison

Sectors	GDIV	EQL
Financial Services	19.7%	9.1%
Industrials	19.3%	9.3%
Technology	18.4%	10.2%
Healthcare	15.5%	9.4%
Consumer Defensive	7.6%	8.8%
Consumer Cyclical	7.3%	9.6%
Energy	5.8%	8.7%
Utilities	3.8%	9.4%
Basic Materials	1.4%	8.0%
Real Estate	1.2%	8.7%
Communication Services	-	8.9%

Return for Risk

GDIV vs. EQL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GDIV

GDIV Risk / Return Rank: 78
GDIV Sharpe Ratio Rank: 82
GDIV Sortino Ratio Rank: 83
GDIV Omega Ratio Rank: 82
GDIV Calmar Ratio Rank: 67
GDIV Martin Ratio Rank: 77

EQL

EQL Risk / Return Rank: 79
EQL Sharpe Ratio Rank: 80
EQL Sortino Ratio Rank: 79
EQL Omega Ratio Rank: 78
EQL Calmar Ratio Rank: 78
EQL Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GDIV vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Dividend Growth Leaders ETF (GDIV) and ALPS Equal Sector Weight ETF (EQL). 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.

	GDIV	EQL	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.82	+0.08
Sortino ratio: Return per unit of downside risk	2.73	2.54	+0.19
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	2.35	2.78	-0.44
Martin ratio: Return relative to average drawdown	9.80	10.89	-1.10

GDIV vs. EQL - Sharpe Ratio Comparison

The current GDIV Sharpe Ratio is 1.90, which is comparable to the EQL Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of GDIV and EQL, 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

GDIV vs. EQL - Drawdown Comparison

The maximum GDIV drawdown since its inception was -18.93%, smaller than the maximum EQL drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for GDIV and EQL.

Drawdown Indicators

	GDIV	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-18.93%	-35.65%	+16.72%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-6.19%	-3.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.93%	-15.07%	-3.86%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.65%	—
Current Drawdown Current decline from peak	-0.95%	-0.27%	-0.68%
Average Drawdown Average peak-to-trough decline	-3.08%	-3.23%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	1.58%	+0.73%

Volatility

GDIV vs. EQL - Volatility Comparison

Harbor Dividend Growth Leaders ETF (GDIV) has a higher volatility of 2.66% compared to ALPS Equal Sector Weight ETF (EQL) at 2.23%. This indicates that GDIV's price experiences larger fluctuations and is considered to be riskier than EQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDIV	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	2.23%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	9.27%	7.03%	+2.24%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	9.50%	+2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.14%	14.51%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	16.49%	-1.35%

GDIV vs. EQL - Expense Ratio Comparison

GDIV has a 0.50% expense ratio, which is higher than EQL's 0.27% expense ratio.

Dividends

GDIV vs. EQL - Dividend Comparison

GDIV's dividend yield for the trailing twelve months is around 1.13%, less than EQL's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL ALPS Equal Sector Weight ETF	1.35%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%
GDIV Harbor Dividend Growth Leaders ETF	1.13%	1.19%	1.30%	2.27%	5.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDIV and EQL in my portfolio?

GDIV and EQL have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDIV or EQL?

GDIV has higher volatility (2.66%) compared to EQL (2.23%). In terms of maximum drawdown, GDIV dropped -18.93% vs EQL's -35.65%.

Which ETF is better, GDIV or EQL?

On 3-year performance, GDIV leads with 15.21% vs 14.59% for EQL. On fees, EQL is cheaper at 0.27% per year. On volatility, EQL has been the lower-risk option at 2.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDIV or EQL?

Over the 3-year period, GDIV has performed better with a 15.21% return vs 14.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDIV or EQL?

EQL is cheaper with a 0.27% expense ratio, compared with 0.50% for GDIV.

Which ETF pays a higher dividend yield, GDIV or EQL?

EQL has the higher dividend yield at 1.35%, compared with 1.13% for GDIV.

What is the main difference between GDIV and EQL?

They also come from different issuers: Harbor and SS&C. Their fees differ too: 0.50% for GDIV and 0.27% for EQL.

Which has better risk-adjusted returns?

GDIV currently has the higher Sharpe Ratio (1.90 vs 1.82), 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.