HAPS vs. GDIV

Last updated Apr 1, 2026

Compare and contrast key facts about Harbor Human Capital Factor US Small Cap ETF (HAPS) and Harbor Dividend Growth Leaders ETF (GDIV).

HAPS and GDIV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HAPS is a passively managed fund by Harbor that tracks the performance of the Human Capital Factor Small Cap Index - Benchmark TR Gross. It was launched on Apr 12, 2023. GDIV is an actively managed fund by Harbor. It was launched on Jul 26, 2013.

Performance

HAPS vs. GDIV - 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 Dividend Growth Leaders ETF (GDIV). The values are adjusted to include any dividend payments, if applicable.

HAPS vs. GDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HAPS Harbor Human Capital Factor US Small Cap ETF	-0.82%	8.35%	4.08%	12.44%
GDIV Harbor Dividend Growth Leaders ETF	-0.04%	10.81%	14.83%	12.75%

Returns By Period

In the year-to-date period, HAPS achieves a -0.82% return, which is significantly lower than GDIV's -0.04% return.

HAPS

• 1D: 2.66%
• 1M: -4.15%
• YTD: -0.82%
• 6M: 0.03%
• 1Y: 17.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDIV

• 1D: 2.02%
• 1M: -6.55%
• YTD: -0.04%
• 6M: 3.54%
• 1Y: 15.94%
• 3Y*: 13.25%
• 5Y*: —
• 10Y*: —

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

HAPS vs. GDIV - Expense Ratio Comparison

HAPS has a 0.60% expense ratio, which is higher than GDIV's 0.50% expense ratio.

HAPS

Harbor Human Capital Factor US Small Cap ETF

GDIV

Harbor Dividend Growth Leaders ETF

Return for Risk

HAPS vs. GDIV — Risk / Return Rank

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

HAPS

HAPS Risk / Return Rank: 44
HAPS Sharpe Ratio Rank: 41
HAPS Sortino Ratio Rank: 45
HAPS Omega Ratio Rank: 41
HAPS Calmar Ratio Rank: 46
HAPS Martin Ratio Rank: 47

GDIV

GDIV Risk / Return Rank: 56
GDIV Sharpe Ratio Rank: 53
GDIV Sortino Ratio Rank: 55
GDIV Omega Ratio Rank: 57
GDIV Calmar Ratio Rank: 55
GDIV Martin Ratio Rank: 60

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. GDIV - 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 Dividend Growth Leaders ETF (GDIV). 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	GDIV	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.93	-0.15
Sortino ratio Return per unit of downside risk	1.27	1.42	-0.15
Omega ratio Gain probability vs. loss probability	1.16	1.21	-0.05
Calmar ratio Return relative to maximum drawdown	1.19	1.37	-0.18
Martin ratio Return relative to average drawdown	4.59	5.89	-1.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAPS vs. GDIV - Sharpe Ratio Comparison

The current HAPS Sharpe Ratio is 0.79, which is comparable to the GDIV Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of HAPS and GDIV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HAPS	GDIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.93	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.67	-0.29

Correlation

The correlation between HAPS and GDIV is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HAPS vs. GDIV - Dividend Comparison

HAPS's dividend yield for the trailing twelve months is around 0.57%, less than GDIV's 1.19% yield.

	TTM	2025	2024	2023	2022
HAPS Harbor Human Capital Factor US Small Cap ETF	0.57%	0.57%	0.72%	0.42%	0.00%
GDIV Harbor Dividend Growth Leaders ETF	1.19%	1.19%	1.30%	2.27%	5.88%

Drawdowns

HAPS vs. GDIV - Drawdown Comparison

The maximum HAPS drawdown since its inception was -27.44%, which is greater than GDIV's maximum drawdown of -18.93%. Use the drawdown chart below to compare losses from any high point for HAPS and GDIV.

Drawdown Indicators

	HAPS	GDIV	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-18.93%	-8.51%
Max Drawdown (1Y) Largest decline over 1 year	-14.25%	-12.18%	-2.07%
Current Drawdown Current decline from peak	-6.89%	-7.85%	+0.96%
Average Drawdown Average peak-to-trough decline	-6.40%	-3.26%	-3.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	2.84%	+0.87%

Volatility

HAPS vs. GDIV - Volatility Comparison

Harbor Human Capital Factor US Small Cap ETF (HAPS) has a higher volatility of 6.25% compared to Harbor Dividend Growth Leaders ETF (GDIV) at 4.89%. This indicates that HAPS's price experiences larger fluctuations and is considered to be riskier than GDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAPS	GDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	4.89%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	12.64%	9.19%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	22.32%	17.17%	+5.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.14%	15.40%	+5.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.14%	15.40%	+5.74%