HASCX vs. HASGX

Last updated Jun 4, 2026

HASCX (Harbor Small Cap Value Fund) and HASGX (Harbor Small Cap Growth Fund) are both mutual funds - HASCX is a Small Cap Blend Equities fund managed by Harbor, while HASGX is a Small Cap Growth Equities fund managed by Harbor. Over the past 10 years, HASCX returned 11.62%/yr vs 12.94%/yr for HASGX. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.87% expense ratio.

Performance

HASCX vs. HASGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Small Cap Value Fund (HASCX) and Harbor Small Cap Growth Fund (HASGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HASCX achieves a 26.15% return, which is significantly higher than HASGX's 18.25% return. Over the past 10 years, HASCX has underperformed HASGX with an annualized return of 11.62%, while HASGX has yielded a comparatively higher 12.94% annualized return.

HASCX

• 1D: 1.68%
• 1M: 1.58%
• YTD: 26.15%
• 6M: 23.98%
• 1Y: 42.29%
• 3Y*: 16.23%
• 5Y*: 8.73%
• 10Y*: 11.62%

HASGX

• 1D: 0.89%
• 1M: 3.06%
• YTD: 18.25%
• 6M: 17.11%
• 1Y: 34.77%
• 3Y*: 16.47%
• 5Y*: 7.02%
• 10Y*: 12.94%

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

HASCX vs. HASGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HASCX Harbor Small Cap Value Fund	26.15%	3.78%	10.93%	15.18%	-9.59%	14.55%	13.15%	28.97%	-16.16%	21.63%
HASGX Harbor Small Cap Growth Fund	18.25%	11.44%	9.34%	22.20%	-25.60%	9.40%	38.54%	42.39%	-11.37%	24.71%

Correlation

The correlation between HASCX and HASGX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 17, 2001	0.89

The correlation between HASCX and HASGX shifts across timeframes, from 0.76 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HASCX vs. HASGX — Risk / Return Rank

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

HASCX

HASCX Risk / Return Rank: 69
HASCX Sharpe Ratio Rank: 63
HASCX Sortino Ratio Rank: 60
HASCX Omega Ratio Rank: 51
HASCX Calmar Ratio Rank: 90
HASCX Martin Ratio Rank: 83

HASGX

HASGX Risk / Return Rank: 45
HASGX Sharpe Ratio Rank: 40
HASGX Sortino Ratio Rank: 38
HASGX Omega Ratio Rank: 35
HASGX Calmar Ratio Rank: 56
HASGX Martin Ratio Rank: 58

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.

HASCX vs. HASGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Small Cap Value Fund (HASCX) and Harbor Small Cap Growth Fund (HASGX). 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.

	HASCX	HASGX	Difference
Sharpe ratio Return per unit of total volatility	2.32	1.84	+0.48
Sortino ratio Return per unit of downside risk	3.27	2.56	+0.71
Omega ratio Gain probability vs. loss probability	1.40	1.31	+0.09
Calmar ratio Return relative to maximum drawdown	4.55	2.86	+1.68
Martin ratio Return relative to average drawdown	15.62	11.58	+4.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HASCX vs. HASGX - Sharpe Ratio Comparison

The current HASCX Sharpe Ratio is 2.32, which is comparable to the HASGX Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of HASCX and HASGX, 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

	HASCX	HASGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.84	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.30	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.56	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.42	+0.04

Drawdowns

HASCX vs. HASGX - Drawdown Comparison

The maximum HASCX drawdown since its inception was -58.90%, which is greater than HASGX's maximum drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for HASCX and HASGX.

Drawdown Indicators

	HASCX	HASGX	Difference
Max Drawdown Largest peak-to-trough decline	-58.90%	-54.33%	-4.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.89%	-12.93%	+3.04%
Max Drawdown (3Y) Largest decline over 3 years	-28.34%	-28.49%	+0.15%
Max Drawdown (5Y) Largest decline over 5 years	-28.34%	-34.17%	+5.83%
Max Drawdown (10Y) Largest decline over 10 years	-42.15%	-38.53%	-3.62%
Current Drawdown Current decline from peak	-1.37%	-0.60%	-0.77%
Average Drawdown Average peak-to-trough decline	-8.14%	-10.17%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	3.19%	-0.32%

Volatility

HASCX vs. HASGX - Volatility Comparison

Harbor Small Cap Value Fund (HASCX) and Harbor Small Cap Growth Fund (HASGX) have volatilities of 6.16% and 6.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HASCX	HASGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	6.19%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	14.54%	15.85%	-1.31%
Volatility (1Y) Calculated over the trailing 1-year period	19.37%	20.13%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	23.32%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.91%	23.16%	-0.25%

HASCX vs. HASGX - Expense Ratio Comparison

Both HASCX and HASGX have an expense ratio of 0.87%.

Dividends

HASCX vs. HASGX - Dividend Comparison

HASCX's dividend yield for the trailing twelve months is around 2.71%, more than HASGX's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HASCX Harbor Small Cap Value Fund	2.71%	3.41%	0.62%	6.99%	7.25%	5.64%	0.43%	1.41%	11.18%	1.98%	0.36%	3.98%
HASGX Harbor Small Cap Growth Fund	0.95%	1.13%	3.53%	0.03%	4.80%	27.66%	7.21%	3.44%	27.29%	10.10%	0.47%	13.13%

Frequently Asked Questions

Can I hold both HASCX and HASGX in my portfolio?

HASCX and HASGX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HASCX or HASGX?

HASGX has higher volatility (6.19%) compared to HASCX (6.16%). In terms of maximum drawdown, HASCX dropped -58.90% vs HASGX's -54.33%.

Which has better risk-adjusted returns?

HASCX currently has the higher Sharpe Ratio (2.32 vs 1.84), 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.