HAPI vs. FNGS

Last updated Jun 3, 2026

HAPI (Harbor Corporate Culture ETF) and FNGS (MicroSectors FANG+ ETN) are both exchange-traded funds - HAPI is a Large Cap Blend Equities fund tracking the CIBC Human Capital Index, while FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index. Both are passively managed. Over the past 3 years, HAPI returned 22.34%/yr vs 35.74%/yr for FNGS. A 0.78 correlation means they provide meaningful diversification when combined. HAPI charges 0.35%/yr vs 0.58%/yr for FNGS.

Performance

HAPI vs. FNGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Corporate Culture ETF (HAPI) and MicroSectors FANG+ ETN (FNGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HAPI achieves a 9.54% return, which is significantly lower than FNGS's 17.41% return.

HAPI

• 1D: 0.58%
• 1M: 3.99%
• YTD: 9.54%
• 6M: 10.54%
• 1Y: 24.39%
• 3Y*: 22.34%
• 5Y*: —
• 10Y*: —

FNGS

• 1D: -0.64%
• 1M: 12.77%
• YTD: 17.41%
• 6M: 11.25%
• 1Y: 32.20%
• 3Y*: 35.74%
• 5Y*: 22.72%
• 10Y*: —

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

HAPI vs. FNGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HAPI Harbor Corporate Culture ETF	9.54%	16.26%	27.62%	30.29%	6.17%
FNGS MicroSectors FANG+ ETN	17.41%	18.64%	51.99%	95.24%	-2.23%

Correlation

The correlation between HAPI and FNGS is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 14, 2022	0.78

The correlation between HAPI and FNGS shifts across timeframes, from 0.66 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

HAPI vs. FNGS - Sectors Allocation Comparison

Sectors	HAPI	FNGS
Technology	31.8%	59.9%
Communication Services	16.0%	28.8%
Financial Services	11.6%	10.0%
Consumer Cyclical	9.7%	11.3%
Industrials	8.5%	-
Healthcare	7.9%	-
Consumer Defensive	5.8%	-
Energy	3.1%	-
Utilities	2.6%	-
Real Estate	1.5%	-
Basic Materials	1.4%	-

Return for Risk

HAPI vs. FNGS — Risk / Return Rank

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

HAPI

HAPI Risk / Return Rank: 64
HAPI Sharpe Ratio Rank: 63
HAPI Sortino Ratio Rank: 65
HAPI Omega Ratio Rank: 62
HAPI Calmar Ratio Rank: 61
HAPI Martin Ratio Rank: 70

FNGS

FNGS Risk / Return Rank: 38
FNGS Sharpe Ratio Rank: 45
FNGS Sortino Ratio Rank: 43
FNGS Omega Ratio Rank: 43
FNGS Calmar Ratio Rank: 30
FNGS Martin Ratio Rank: 29

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.

HAPI vs. FNGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Corporate Culture ETF (HAPI) and MicroSectors FANG+ ETN (FNGS). 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.

	HAPI	FNGS	Difference
Sharpe ratio Return per unit of total volatility	2.14	1.58	+0.56
Sortino ratio Return per unit of downside risk	3.04	2.17	+0.87
Omega ratio Gain probability vs. loss probability	1.38	1.28	+0.10
Calmar ratio Return relative to maximum drawdown	3.07	1.47	+1.60
Martin ratio Return relative to average drawdown	13.46	4.25	+9.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAPI vs. FNGS - Sharpe Ratio Comparison

The current HAPI Sharpe Ratio is 2.14, which is higher than the FNGS Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of HAPI and FNGS, 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

	HAPI	FNGS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.58	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	1.06	+0.55

Drawdowns

HAPI vs. FNGS - Drawdown Comparison

The maximum HAPI drawdown since its inception was -19.46%, smaller than the maximum FNGS drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for HAPI and FNGS.

Drawdown Indicators

	HAPI	FNGS	Difference
Max Drawdown Largest peak-to-trough decline	-19.46%	-48.98%	+29.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-22.93%	+14.81%
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	-26.77%	+7.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-48.98%	—
Current Drawdown Current decline from peak	0.00%	-0.64%	+0.64%
Average Drawdown Average peak-to-trough decline	-2.02%	-10.87%	+8.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	7.92%	-6.07%

Volatility

HAPI vs. FNGS - Volatility Comparison

The current volatility for Harbor Corporate Culture ETF (HAPI) is 2.33%, while MicroSectors FANG+ ETN (FNGS) has a volatility of 5.42%. This indicates that HAPI experiences smaller price fluctuations and is considered to be less risky than FNGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAPI	FNGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	5.42%	-3.09%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	15.65%	-6.97%
Volatility (1Y) Calculated over the trailing 1-year period	11.46%	20.49%	-9.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	29.96%	-14.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	31.13%	-15.53%

HAPI vs. FNGS - Expense Ratio Comparison

HAPI has a 0.35% expense ratio, which is lower than FNGS's 0.58% expense ratio.

Dividends

HAPI vs. FNGS - Dividend Comparison

HAPI's dividend yield for the trailing twelve months is around 0.79%, while FNGS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
FNGS MicroSectors FANG+ ETN	0.00%	0.00%	0.00%	0.00%	0.00%
HAPI Harbor Corporate Culture ETF	0.79%	0.87%	0.21%	1.21%	0.29%

Frequently Asked Questions

Can I hold both HAPI and FNGS in my portfolio?

HAPI and FNGS have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HAPI or FNGS?

FNGS has higher volatility (5.42%) compared to HAPI (2.33%). In terms of maximum drawdown, HAPI dropped -19.46% vs FNGS's -48.98%.

Which ETF is better, HAPI or FNGS?

On 3-year performance, FNGS leads with 35.74% vs 22.34% for HAPI. On fees, HAPI is cheaper at 0.35% per year. On volatility, HAPI has been the lower-risk option at 2.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HAPI or FNGS?

Over the 3-year period, FNGS has performed better with a 35.74% return vs 22.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HAPI or FNGS?

HAPI is cheaper with a 0.35% expense ratio, compared with 0.58% for FNGS.

Which ETF pays a higher dividend yield, HAPI or FNGS?

HAPI has the higher dividend yield at 0.79%, compared with 0.00% for FNGS.

What is the main difference between HAPI and FNGS?

HAPI is categorized as Large Cap Blend Equities, while FNGS is Large Cap Growth Equities. HAPI tracks CIBC Human Capital Index, while FNGS tracks NYSE FANG+ Index. They also come from different issuers: Harbor and BMO. Their fees differ too: 0.35% for HAPI and 0.58% for FNGS.

Which has better risk-adjusted returns?

HAPI currently has the higher Sharpe Ratio (2.14 vs 1.58), 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.