HGER vs. FTLS
HGER (Harbor Commodity All-Weather Strategy ETF) and FTLS (First Trust Long/Short Equity ETF) are both exchange-traded funds - HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net, while FTLS is a Long-Short fund actively managed by First Trust. HGER is passively managed, while FTLS is actively managed. Over the past 3 years, HGER returned 18.61%/yr vs 13.13%/yr for FTLS. Their 0.15 correlation means their historical movements had little consistent relationship. HGER charges 0.68%/yr vs 1.38%/yr for FTLS.
Performance
HGER vs. FTLS - Performance Comparison
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Returns By Period
In the year-to-date period, HGER achieves a 29.53% return, which is significantly higher than FTLS's 6.03% return.
HGER
- 1D
- 0.00%
- 1M
- 8.95%
- 6M
- 20.19%
- YTD
- 29.53%
- 1Y
- 40.17%
- 3Y*
- 18.61%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.44%
FTLS
- 1D
- -0.31%
- 1M
- 1.85%
- 6M
- 4.95%
- YTD
- 6.03%
- 1Y
- 13.39%
- 3Y*
- 13.13%
- 5Y*
- 10.06%
- 10Y*
- 9.59%
- ALL TIME*
- 9.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.26M | $8.04M | $8.94M | |
| $46.51M | $66.72M | $45.77M |
HGER vs. FTLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 29.53% | 20.08% | 9.25% | 1.93% | 9.66% |
FTLS First Trust Long/Short Equity ETF | 6.03% | 9.09% | 18.80% | 16.94% | -3.36% |
Correlation
The correlation between HGER and FTLS is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.15 |
The correlation between HGER and FTLS shifts across timeframes, from 0.02 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HGER vs. FTLS — Risk / Return Rank
HGER
FTLS
HGER vs. FTLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) and First Trust Long/Short Equity ETF (FTLS). 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.
| HGER | FTLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.28 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 3.55 | -0.68 |
| Martin ratioReturn relative to average drawdown | 10.23 | 10.80 | -0.57 |
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Drawdowns
HGER vs. FTLS - Drawdown Comparison
The maximum HGER drawdown since its inception was -23.31%, which is greater than FTLS's maximum drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for HGER and FTLS.
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Drawdown Indicators
| HGER | FTLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -20.54% | -2.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -3.79% | -10.25% |
Max Drawdown (3Y)Largest decline over 3 years | -14.04% | -11.69% | -2.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.54% | — |
Current DrawdownCurrent decline from peak | -3.94% | -0.42% | -3.52% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -2.67% | -4.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 1.24% | +2.70% |
Volatility
HGER vs. FTLS - Volatility Comparison
Harbor Commodity All-Weather Strategy ETF (HGER) has a higher volatility of 5.64% compared to First Trust Long/Short Equity ETF (FTLS) at 2.15%. This indicates that HGER's price experiences larger fluctuations and is considered to be riskier than FTLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HGER | FTLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 2.15% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 15.43% | 5.86% | +9.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 8.54% | +9.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 10.53% | +7.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 11.23% | +6.44% |
HGER vs. FTLS - Expense Ratio Comparison
HGER has a 0.68% expense ratio, which is lower than FTLS's 1.38% expense ratio.
Dividends
HGER vs. FTLS - Dividend Comparison
HGER's dividend yield for the trailing twelve months is around 5.47%, more than FTLS's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTLS First Trust Long/Short Equity ETF | 0.88% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
HGER Harbor Commodity All-Weather Strategy ETF | 5.47% | 7.09% | 3.28% | 7.24% | 0.64% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HGER and FTLS have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HGER has higher volatility (5.64%) compared to FTLS (2.15%). In terms of maximum drawdown, HGER dropped -23.31% vs FTLS's -20.54%.
On 3-year performance, HGER leads with 18.61% vs 13.13% for FTLS. On fees, HGER is cheaper at 0.68% per year. On volatility, FTLS has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HGER has performed better with a 18.61% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HGER is cheaper with a 0.68% expense ratio, compared with 1.38% for FTLS.
HGER has the higher dividend yield at 5.47%, compared with 0.88% for FTLS.
HGER is categorized as Commodities, while FTLS is Long-Short. They also come from different issuers: Harbor and First Trust. Their fees differ too: 0.68% for HGER and 1.38% for FTLS.
HGER currently has the higher Sharpe Ratio (2.28 vs 1.57), 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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