GSIB vs. HGER
GSIB (Themes Global Systemically Important Banks ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - GSIB is a Financials Equities fund actively managed by Themes, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. GSIB is actively managed, while HGER is passively managed. Over the past year, GSIB returned 46.76% vs 40.17% for HGER. Their 0.06 correlation means their historical movements had little consistent relationship. GSIB charges 0.35%/yr vs 0.68%/yr for HGER.
Performance
GSIB vs. HGER - Performance Comparison
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Returns By Period
In the year-to-date period, GSIB achieves a 22.66% return, which is significantly lower than HGER's 29.53% return.
GSIB
- 1D
- -0.11%
- 1M
- 7.17%
- 6M
- 18.14%
- YTD
- 22.66%
- 1Y
- 46.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 45.58%
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) |
|---|---|---|---|
| $2.37M | $1.31M | $753.15K | |
| $46.51M | $66.72M | $45.77M |
GSIB vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GSIB Themes Global Systemically Important Banks ETF | 22.66% | 61.67% | 32.86% | 1.75% |
HGER Harbor Commodity All-Weather Strategy ETF | 29.53% | 20.08% | 9.25% | 0.43% |
Correlation
The correlation between GSIB and HGER is -0.05, 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. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023 | 0.06 |
The correlation between GSIB and HGER shifts across timeframes, from -0.05 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GSIB vs. HGER — Risk / Return Rank
GSIB
HGER
GSIB vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Global Systemically Important Banks ETF (GSIB) 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.
| GSIB | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.41 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 2.87 | +0.51 |
| Martin ratioReturn relative to average drawdown | 11.87 | 10.23 | +1.64 |
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Drawdowns
GSIB vs. HGER - Drawdown Comparison
The maximum GSIB drawdown since its inception was -17.71%, smaller than the maximum HGER drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for GSIB and HGER.
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Drawdown Indicators
| GSIB | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.71% | -23.31% | +5.60% |
Max Drawdown (1Y)Largest decline over 1 year | -13.90% | -14.04% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.04% | — |
Current DrawdownCurrent decline from peak | -0.11% | -3.94% | +3.83% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -7.66% | +5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 3.94% | +0.01% |
Volatility
GSIB vs. HGER - Volatility Comparison
Themes Global Systemically Important Banks ETF (GSIB) and Harbor Commodity All-Weather Strategy ETF (HGER) have volatilities of 5.74% and 5.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSIB | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 5.64% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 14.93% | 15.43% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.90% | 17.71% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 17.67% | +0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.46% | 17.67% | +0.79% |
GSIB vs. HGER - Expense Ratio Comparison
GSIB has a 0.35% expense ratio, which is lower than HGER's 0.68% expense ratio.
Dividends
GSIB vs. HGER - Dividend Comparison
GSIB's dividend yield for the trailing twelve months is around 1.55%, less than HGER's 5.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GSIB Themes Global Systemically Important Banks ETF | 1.55% | 1.91% | 1.67% | 0.00% | 0.00% |
HGER Harbor Commodity All-Weather Strategy ETF | 5.47% | 7.09% | 3.28% | 7.24% | 0.64% |
Frequently Asked Questions
GSIB and HGER have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSIB has higher volatility (5.74%) compared to HGER (5.64%). In terms of maximum drawdown, GSIB dropped -17.71% vs HGER's -23.31%.
On 1-year performance, GSIB leads with 46.76% vs 40.17% for HGER. On fees, GSIB is cheaper at 0.35% per year. On volatility, HGER has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSIB has performed better with a 46.76% return vs 40.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSIB is cheaper with a 0.35% expense ratio, compared with 0.68% for HGER.
HGER has the higher dividend yield at 5.47%, compared with 1.55% for GSIB.
GSIB is categorized as Financials Equities, while HGER is Commodities. They also come from different issuers: Themes and Harbor. Their fees differ too: 0.35% for GSIB and 0.68% for HGER.
GSIB currently has the higher Sharpe Ratio (2.63 vs 2.28), 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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