HAONX vs. HNACX

Last updated Jun 24, 2026

HAONX (Harbor Overseas Fund) and HNACX (Harbor Capital Appreciation Fund Retirement Class) are both mutual funds - HAONX is a Foreign Large Cap Equities fund managed by Harbor, while HNACX is a Large Cap Growth Equities fund managed by Harbor. Over the past 5 years, HAONX returned 11.72%/yr vs 12.14%/yr for HNACX. A 0.68 correlation means they provide meaningful diversification when combined. HAONX charges 1.21%/yr vs 0.57%/yr for HNACX.

Performance

HAONX vs. HNACX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Overseas Fund (HAONX) and Harbor Capital Appreciation Fund Retirement Class (HNACX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HAONX achieves a 17.09% return, which is significantly higher than HNACX's 3.79% return.

HAONX

• 1D: 0.66%
• 1M: 3.90%
• YTD: 17.09%
• 6M: 16.54%
• 1Y: 34.24%
• 3Y*: 24.35%
• 5Y*: 11.72%
• 10Y*: —

HNACX

• 1D: -1.77%
• 1M: -2.21%
• YTD: 3.79%
• 6M: 2.56%
• 1Y: 14.85%
• 3Y*: 25.66%
• 5Y*: 12.14%
• 10Y*: —

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

HAONX vs. HNACX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HAONX Harbor Overseas Fund	17.09%	35.31%	10.99%	13.29%	-15.53%	18.70%	12.93%	9.22%
HNACX Harbor Capital Appreciation Fund Retirement Class	3.79%	14.04%	46.43%	53.86%	-37.67%	15.43%	54.82%	16.21%

Correlation

The correlation between HAONX and HNACX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Mar 6, 2019	0.68

The correlation between HAONX and HNACX has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.

Return for Risk

HAONX vs. HNACX — Risk / Return Rank

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

HAONX

HAONX Risk / Return Rank: 65
HAONX Sharpe Ratio Rank: 68
HAONX Sortino Ratio Rank: 62
HAONX Omega Ratio Rank: 63
HAONX Calmar Ratio Rank: 68
HAONX Martin Ratio Rank: 62

HNACX

HNACX Risk / Return Rank: 12
HNACX Sharpe Ratio Rank: 13
HNACX Sortino Ratio Rank: 13
HNACX Omega Ratio Rank: 13
HNACX Calmar Ratio Rank: 10
HNACX Martin Ratio Rank: 10

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.

HAONX vs. HNACX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Overseas Fund (HAONX) and Harbor Capital Appreciation Fund Retirement Class (HNACX). 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.

	HAONX	HNACX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	0.94	+1.28
Sortino ratio: Return per unit of downside risk	3.02	1.36	+1.66
Omega ratio: Gain probability vs. loss probability	1.40	1.17	+0.23
Calmar ratio: Return relative to maximum drawdown	3.03	0.90	+2.12
Martin ratio: Return relative to average drawdown	11.54	2.80	+8.74

HAONX vs. HNACX - Sharpe Ratio Comparison

The current HAONX Sharpe Ratio is 2.22, which is higher than the HNACX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of HAONX and HNACX, 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

HAONX vs. HNACX - Drawdown Comparison

The maximum HAONX drawdown since its inception was -31.95%, smaller than the maximum HNACX drawdown of -43.46%. Use the drawdown chart below to compare losses from any high point for HAONX and HNACX.

Drawdown Indicators

	HAONX	HNACX	Difference
Max Drawdown Largest peak-to-trough decline	-31.95%	-43.46%	+11.51%
Max Drawdown (1Y) Largest decline over 1 year	-11.72%	-17.94%	+6.22%
Max Drawdown (3Y) Largest decline over 3 years	-14.46%	-27.32%	+12.86%
Max Drawdown (5Y) Largest decline over 5 years	-29.05%	-43.46%	+14.41%
Current Drawdown Current decline from peak	0.00%	-5.97%	+5.97%
Average Drawdown Average peak-to-trough decline	-6.39%	-9.53%	+3.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	5.79%	-2.72%

Volatility

HAONX vs. HNACX - Volatility Comparison

The current volatility for Harbor Overseas Fund (HAONX) is 5.70%, while Harbor Capital Appreciation Fund Retirement Class (HNACX) has a volatility of 6.58%. This indicates that HAONX experiences smaller price fluctuations and is considered to be less risky than HNACX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAONX	HNACX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	6.58%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	13.52%	13.45%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.99%	17.30%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	25.90%	-9.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	24.89%	-7.61%

HAONX vs. HNACX - Expense Ratio Comparison

HAONX has a 1.21% expense ratio, which is higher than HNACX's 0.57% expense ratio.

Dividends

HAONX vs. HNACX - Dividend Comparison

HAONX's dividend yield for the trailing twelve months is around 2.08%, less than HNACX's 10.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HAONX Harbor Overseas Fund	2.08%	2.43%	2.12%	1.67%	2.41%	10.30%	1.06%	2.13%	0.00%	0.00%
HNACX Harbor Capital Appreciation Fund Retirement Class	10.78%	11.19%	21.66%	0.00%	0.00%	18.62%	12.25%	8.97%	11.07%	11.64%

Frequently Asked Questions

Can I hold both HAONX and HNACX in my portfolio?

HAONX and HNACX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HAONX or HNACX?

HNACX has higher volatility (6.58%) compared to HAONX (5.70%). In terms of maximum drawdown, HAONX dropped -31.95% vs HNACX's -43.46%.

Which has better risk-adjusted returns?

HAONX currently has the higher Sharpe Ratio (2.22 vs 0.94), 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.