HAPS vs. EPIN

Last updated Jun 4, 2026

HAPS (Harbor Human Capital Factor US Small Cap ETF) and EPIN (Harbor International Equity ETF) are both exchange-traded funds - HAPS is a Small Cap Blend Equities fund tracking the Human Capital Factor Small Cap Index - Benchmark TR Gross, while EPIN is a Foreign Large Cap Equities fund actively managed by Harbor. HAPS is passively managed, while EPIN is actively managed. A 0.69 correlation means they provide meaningful diversification when combined. HAPS charges 0.60%/yr vs 0.80%/yr for EPIN.

Performance

HAPS vs. EPIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Human Capital Factor US Small Cap ETF (HAPS) and Harbor International Equity ETF (EPIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HAPS achieves a 10.18% return, which is significantly lower than EPIN's 24.44% return.

HAPS

• 1D: -1.19%
• 1M: 0.51%
• YTD: 10.18%
• 6M: 10.07%
• 1Y: 26.09%
• 3Y*: 11.58%
• 5Y*: —
• 10Y*: —

EPIN

• 1D: -1.05%
• 1M: 12.39%
• YTD: 24.44%
• 6M: 28.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HAPS vs. EPIN - Yearly Performance Comparison

	2026 (YTD)	2025
HAPS Harbor Human Capital Factor US Small Cap ETF	10.18%	14.65%
EPIN Harbor International Equity ETF	24.44%	14.68%

Correlation

The correlation between HAPS and EPIN is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.69

HAPS vs. EPIN - Sectors Allocation Comparison

Sectors	HAPS	EPIN
Financial Services	17.7%	19.4%
Healthcare	17.7%	6.8%
Technology	14.0%	29.2%
Industrials	13.5%	21.3%
Consumer Cyclical	8.3%	6.8%
Energy	7.2%	5.1%
Real Estate	6.7%	-
Basic Materials	6.6%	7.7%
Communication Services	3.0%	1.2%
Consumer Defensive	2.9%	2.6%
Utilities	2.4%	-

Return for Risk

HAPS vs. EPIN — Risk / Return Rank

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

HAPS

HAPS Risk / Return Rank: 48
HAPS Sharpe Ratio Rank: 45
HAPS Sortino Ratio Rank: 47
HAPS Omega Ratio Rank: 42
HAPS Calmar Ratio Rank: 54
HAPS Martin Ratio Rank: 53

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.

HAPS vs. EPIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Human Capital Factor US Small Cap ETF (HAPS) and Harbor International Equity ETF (EPIN). 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.

	HAPS	EPIN	Difference
Sharpe ratio Return per unit of total volatility	1.54	—	—
Sortino ratio Return per unit of downside risk	2.31	—	—
Omega ratio Gain probability vs. loss probability	1.26	—	—
Calmar ratio Return relative to maximum drawdown	2.62	—	—
Martin ratio Return relative to average drawdown	8.81	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HAPS	EPIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	2.50	-1.95

Drawdowns

HAPS vs. EPIN - Drawdown Comparison

The maximum HAPS drawdown since its inception was -27.44%, which is greater than EPIN's maximum drawdown of -11.64%. Use the drawdown chart below to compare losses from any high point for HAPS and EPIN.

Drawdown Indicators

	HAPS	EPIN	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-11.64%	-15.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.01%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-27.44%	—	—
Current Drawdown Current decline from peak	-1.44%	-1.05%	-0.39%
Average Drawdown Average peak-to-trough decline	-6.14%	-1.76%	-4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	—	—

Volatility

Volatility by Period

	HAPS	EPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.03%	17.38%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.83%	17.38%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	17.38%	+3.45%

HAPS vs. EPIN - Expense Ratio Comparison

HAPS has a 0.60% expense ratio, which is lower than EPIN's 0.80% expense ratio.

Dividends

HAPS vs. EPIN - Dividend Comparison

HAPS's dividend yield for the trailing twelve months is around 0.51%, less than EPIN's 0.64% yield.

Position	TTM	2025	2024	2023
EPIN Harbor International Equity ETF	0.64%	0.79%	0.00%	0.00%
HAPS Harbor Human Capital Factor US Small Cap ETF	0.51%	0.57%	0.72%	0.42%

Frequently Asked Questions

Can I hold both HAPS and EPIN in my portfolio?

HAPS and EPIN have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HAPS or EPIN?

On fees, HAPS is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HAPS or EPIN?

HAPS is cheaper with a 0.60% expense ratio, compared with 0.80% for EPIN.

Which ETF pays a higher dividend yield, HAPS or EPIN?

EPIN has the higher dividend yield at 0.64%, compared with 0.51% for HAPS.

What is the main difference between HAPS and EPIN?

HAPS is categorized as Small Cap Blend Equities, while EPIN is Foreign Large Cap Equities. Their fees differ too: 0.60% for HAPS and 0.80% for EPIN.