HAPI vs. HOLD

Last updated Aug 2, 2026

HAPI (Harbor Corporate Culture ETF) and HOLD (Harbor Alpha Layering ETF) are both exchange-traded funds - HAPI is a Large Cap Blend Equities fund tracking the CIBC Human Capital Index, while HOLD is a Multistrategy fund actively managed by Harbor. HAPI is passively managed, while HOLD is actively managed. Their 0.53 correlation means they have sometimes moved together and sometimes differently. HAPI charges 0.35%/yr vs 0.70%/yr for HOLD.

Performance

HAPI vs. HOLD - Performance Comparison

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

Returns By Period

In the year-to-date period, HAPI achieves a 9.76% return, which is significantly higher than HOLD's 5.63% return.

HAPI

• 1D: 1.31%
• 1M: 1.36%
• 6M: 8.44%
• YTD: 9.76%
• 1Y: 18.78%
• 3Y*: 19.71%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.12%

HOLD

• 1D: 1.33%
• 1M: 1.14%
• 6M: 4.28%
• YTD: 5.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
HAPI Harbor Corporate Culture ETF	$76.70K	$60.15K	$72.78K
HOLD Harbor Alpha Layering ETF	$12.65K	$9.92K	$14.71K

HAPI vs. HOLD - Yearly Performance Comparison

	2026 (YTD)	2025
HAPI Harbor Corporate Culture ETF	9.76%	5.47%
HOLD Harbor Alpha Layering ETF	5.63%	8.77%

Correlation

The correlation between HAPI and HOLD is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025	0.53

Return for Risk

HAPI vs. HOLD — Risk / Return Rank

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

HAPI

HAPI Risk / Return Rank: 63
HAPI Sharpe Ratio Rank: 62
HAPI Sortino Ratio Rank: 62
HAPI Omega Ratio Rank: 58
HAPI Calmar Ratio Rank: 61
HAPI Martin Ratio Rank: 72

HOLD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HAPI vs. HOLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Corporate Culture ETF (HAPI) and Harbor Alpha Layering ETF (HOLD). 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.

	HAPI	HOLD	Difference
Sharpe ratio: Return per unit of total volatility	1.45	—	—
Sortino ratio: Return per unit of downside risk	2.09	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.16	—	—
Martin ratio: Return relative to average drawdown	8.85	—	—

Drawdowns

HAPI vs. HOLD - Drawdown Comparison

The maximum HAPI drawdown since its inception was -19.46%, which is greater than HOLD's maximum drawdown of -9.47%. Use the drawdown chart below to compare losses from any high point for HAPI and HOLD.

Drawdown Indicators

	HAPI	HOLD	Difference
Max Drawdown Largest peak-to-trough decline	-19.46%	-9.47%	-9.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	—	—
Current Drawdown Current decline from peak	-0.03%	-7.38%	+7.35%
Average Drawdown Average peak-to-trough decline	-2.00%	-2.69%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	—	—

Volatility

Volatility by Period

	HAPI	HOLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.10%	15.31%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	15.31%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.62%	15.31%	+0.31%

HAPI vs. HOLD - Expense Ratio Comparison

HAPI has a 0.35% expense ratio, which is lower than HOLD's 0.70% expense ratio.

Dividends

HAPI vs. HOLD - Dividend Comparison

HAPI's dividend yield for the trailing twelve months is around 0.79%, less than HOLD's 6.93% yield.

Position	TTM	2025	2024	2023	2022
HAPI Harbor Corporate Culture ETF	0.79%	0.87%	0.21%	1.21%	0.29%
HOLD Harbor Alpha Layering ETF	6.93%	7.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HAPI and HOLD in my portfolio?

HAPI and HOLD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HAPI or HOLD?

On fees, HAPI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HAPI or HOLD?

HAPI is cheaper with a 0.35% expense ratio, compared with 0.70% for HOLD.

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

HOLD has the higher dividend yield at 6.93%, compared with 0.79% for HAPI.

What is the main difference between HAPI and HOLD?

HAPI is categorized as Large Cap Blend Equities, while HOLD is Multistrategy. Their fees differ too: 0.35% for HAPI and 0.70% for HOLD.