HAVLX vs. QUAL
HAVLX (Harbor Large Cap Value Fund) and QUAL (iShares MSCI USA Quality Factor ETF) are both funds - HAVLX is a Large Cap Blend Equities fund managed by Harbor, while QUAL is a Quality Factor fund tracking the MSCI USA Sector Neutral Quality Index. Over the past 10 years, HAVLX returned 11.98%/yr vs 14.15%/yr for QUAL. Their correlation of 0.88 means they have usually moved in the same direction. HAVLX charges 0.69%/yr vs 0.15%/yr for QUAL.
Performance
HAVLX vs. QUAL - Performance Comparison
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Returns By Period
In the year-to-date period, HAVLX achieves a 4.70% return, which is significantly lower than QUAL's 10.86% return. Over the past 10 years, HAVLX has underperformed QUAL with an annualized return of 11.98%, while QUAL has yielded a comparatively higher 14.15% annualized return.
HAVLX
- 1D
- 0.05%
- 1M
- 0.69%
- 6M
- 2.09%
- YTD
- 4.70%
- 1Y
- 9.84%
- 3Y*
- 12.58%
- 5Y*
- 7.47%
- 10Y*
- 11.98%
- ALL TIME*
- 10.03%
QUAL
- 1D
- 0.18%
- 1M
- 0.41%
- 6M
- 8.77%
- YTD
- 10.86%
- 1Y
- 21.43%
- 3Y*
- 17.38%
- 5Y*
- 11.11%
- 10Y*
- 14.15%
- ALL TIME*
- 13.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $216.39M | $244.32M | $382.94M |
HAVLX vs. QUAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HAVLX Harbor Large Cap Value Fund | 4.70% | 11.07% | 15.60% | 19.70% | -14.98% | 24.90% | 14.46% | 32.84% | -8.98% | 22.33% |
QUAL iShares MSCI USA Quality Factor ETF | 10.86% | 12.65% | 22.29% | 30.88% | -20.50% | 26.94% | 17.04% | 33.89% | -5.70% | 22.26% |
Correlation
The correlation between HAVLX and QUAL is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2013 | 0.88 |
The correlation between HAVLX and QUAL shifts across timeframes, from 0.71 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HAVLX vs. QUAL — Risk / Return Rank
HAVLX
QUAL
HAVLX vs. QUAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Large Cap Value Fund (HAVLX) and iShares MSCI USA Quality Factor ETF (QUAL). 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.
| HAVLX | QUAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 2.25 | -1.32 |
| Martin ratioReturn relative to average drawdown | 2.66 | 10.08 | -7.42 |
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Drawdowns
HAVLX vs. QUAL - Drawdown Comparison
The maximum HAVLX drawdown since its inception was -53.23%, which is greater than QUAL's maximum drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for HAVLX and QUAL.
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Drawdown Indicators
| HAVLX | QUAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -34.06% | -19.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.83% | -9.03% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -15.87% | -18.00% | +2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -23.46% | -28.23% | +4.77% |
Max Drawdown (10Y)Largest decline over 10 years | -35.69% | -34.06% | -1.63% |
Current DrawdownCurrent decline from peak | -0.92% | -0.61% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -6.73% | -4.07% | -2.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 2.01% | +1.07% |
Volatility
HAVLX vs. QUAL - Volatility Comparison
Harbor Large Cap Value Fund (HAVLX) has a higher volatility of 3.58% compared to iShares MSCI USA Quality Factor ETF (QUAL) at 2.88%. This indicates that HAVLX's price experiences larger fluctuations and is considered to be riskier than QUAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAVLX | QUAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 2.88% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.40% | 9.72% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 12.33% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.17% | 17.38% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.55% | 18.09% | +0.46% |
HAVLX vs. QUAL - Expense Ratio Comparison
HAVLX has a 0.69% expense ratio, which is higher than QUAL's 0.15% expense ratio.
Dividends
HAVLX vs. QUAL - Dividend Comparison
HAVLX's dividend yield for the trailing twelve months is around 20.70%, more than QUAL's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAVLX Harbor Large Cap Value Fund | 20.70% | 21.82% | 14.78% | 4.06% | 5.13% | 3.33% | 3.46% | 0.88% | 2.84% | 3.57% | 4.41% | 5.74% |
QUAL iShares MSCI USA Quality Factor ETF | 0.86% | 0.94% | 1.02% | 1.23% | 1.59% | 1.20% | 1.39% | 1.60% | 2.00% | 1.76% | 1.96% | 1.63% |
Frequently Asked Questions
HAVLX and QUAL have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HAVLX has higher volatility (3.58%) compared to QUAL (2.88%). In terms of maximum drawdown, HAVLX dropped -53.23% vs QUAL's -34.06%.
QUAL currently has the higher Sharpe Ratio (1.65 vs 0.70), 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.
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