GDIV vs. USPX

Last updated Jun 4, 2026

GDIV (Harbor Dividend Growth Leaders ETF) and USPX (Franklin U.S. Equity Index ETF) are both Large Cap Blend Equities funds. GDIV is actively managed, while USPX is passively managed. Over the past 3 years, GDIV returned 16.87%/yr vs 22.42%/yr for USPX. Their correlation of 0.89 suggests significant overlap in exposure. GDIV charges 0.50%/yr vs 0.03%/yr for USPX.

Performance

GDIV vs. USPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Dividend Growth Leaders ETF (GDIV) and Franklin U.S. Equity Index ETF (USPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDIV achieves a 11.37% return, which is significantly higher than USPX's 10.64% return.

GDIV

• 1D: -0.12%
• 1M: 3.80%
• YTD: 11.37%
• 6M: 11.88%
• 1Y: 24.33%
• 3Y*: 16.87%
• 5Y*: —
• 10Y*: —

USPX

• 1D: -0.75%
• 1M: 5.12%
• YTD: 10.64%
• 6M: 10.50%
• 1Y: 27.42%
• 3Y*: 22.42%
• 5Y*: 12.39%
• 10Y*: —

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

GDIV vs. USPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDIV Harbor Dividend Growth Leaders ETF	11.37%	10.81%	14.83%	16.45%	-1.53%
USPX Franklin U.S. Equity Index ETF	10.64%	17.78%	24.97%	27.07%	-8.00%

Correlation

The correlation between GDIV and USPX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 24, 2022	0.89

The correlation between GDIV and USPX has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

GDIV vs. USPX - Sectors Allocation Comparison

Sectors	GDIV	USPX
Technology	23.4%	35.4%
Financial Services	18.2%	11.8%
Industrials	16.2%	8.4%
Healthcare	14.4%	8.6%
Consumer Cyclical	8.9%	10.1%
Consumer Defensive	7.4%	4.8%
Energy	5.0%	3.6%
Utilities	4.1%	2.3%
Basic Materials	1.4%	1.7%
Real Estate	1.1%	1.8%
Communication Services	-	11.5%

Return for Risk

GDIV vs. USPX — Risk / Return Rank

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

GDIV

GDIV Risk / Return Rank: 60
GDIV Sharpe Ratio Rank: 61
GDIV Sortino Ratio Rank: 64
GDIV Omega Ratio Rank: 62
GDIV Calmar Ratio Rank: 51
GDIV Martin Ratio Rank: 60

USPX

USPX Risk / Return Rank: 68
USPX Sharpe Ratio Rank: 69
USPX Sortino Ratio Rank: 68
USPX Omega Ratio Rank: 68
USPX Calmar Ratio Rank: 61
USPX Martin Ratio Rank: 73

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.

GDIV vs. USPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Dividend Growth Leaders ETF (GDIV) and Franklin U.S. Equity Index ETF (USPX). 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.

	GDIV	USPX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.28	-0.22
Sortino ratio: Return per unit of downside risk	2.99	3.12	-0.14
Omega ratio: Gain probability vs. loss probability	1.38	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	2.53	3.01	-0.48
Martin ratio: Return relative to average drawdown	10.49	13.72	-3.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDIV vs. USPX - Sharpe Ratio Comparison

The current GDIV Sharpe Ratio is 2.06, which is comparable to the USPX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of GDIV and USPX, 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

	GDIV	USPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.28	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.80	+0.04

Drawdowns

GDIV vs. USPX - Drawdown Comparison

The maximum GDIV drawdown since its inception was -18.93%, smaller than the maximum USPX drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for GDIV and USPX.

Drawdown Indicators

	GDIV	USPX	Difference
Max Drawdown Largest peak-to-trough decline	-18.93%	-31.21%	+12.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-9.15%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.93%	-19.21%	+0.28%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.21%	—
Current Drawdown Current decline from peak	-0.12%	-0.75%	+0.63%
Average Drawdown Average peak-to-trough decline	-3.18%	-4.44%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	2.00%	+0.32%

Volatility

GDIV vs. USPX - Volatility Comparison

Harbor Dividend Growth Leaders ETF (GDIV) has a higher volatility of 3.38% compared to Franklin U.S. Equity Index ETF (USPX) at 2.87%. This indicates that GDIV's price experiences larger fluctuations and is considered to be riskier than USPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDIV	USPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	2.87%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	9.16%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	12.09%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.32%	16.17%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.32%	15.92%	-0.60%

GDIV vs. USPX - Expense Ratio Comparison

GDIV has a 0.50% expense ratio, which is higher than USPX's 0.03% expense ratio.

Dividends

GDIV vs. USPX - Dividend Comparison

GDIV's dividend yield for the trailing twelve months is around 1.13%, more than USPX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
USPX Franklin U.S. Equity Index ETF	1.04%	1.07%	1.23%	1.35%	2.21%	2.40%	2.51%	3.07%	2.91%	2.60%	4.89%

Frequently Asked Questions

Can I hold both GDIV and USPX in my portfolio?

GDIV and USPX have a correlation of 0.83, 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 USPX?

GDIV has higher volatility (3.38%) compared to USPX (2.87%). In terms of maximum drawdown, GDIV dropped -18.93% vs USPX's -31.21%.

Which ETF is better, GDIV or USPX?

On 3-year performance, USPX leads with 22.42% vs 16.87% for GDIV. On fees, USPX is cheaper at 0.03% per year. On volatility, USPX has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDIV or USPX?

Over the 3-year period, USPX has performed better with a 22.42% return vs 16.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDIV or USPX?

USPX is cheaper with a 0.03% expense ratio, compared with 0.50% for GDIV.

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

GDIV has the higher dividend yield at 1.13%, compared with 1.04% for USPX.

What is the main difference between GDIV and USPX?

They also come from different issuers: Harbor and Franklin Templeton. Their fees differ too: 0.50% for GDIV and 0.03% for USPX.

Which has better risk-adjusted returns?

USPX currently has the higher Sharpe Ratio (2.28 vs 2.06), 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.