HGER vs. JMHI
HGER (Harbor Commodity All-Weather Strategy ETF) and JMHI (JPMorgan High Yield Municipal ETF) are both exchange-traded funds - HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net, while JMHI is a High Yield Muni fund actively managed by JPMorgan. HGER is passively managed, while JMHI is actively managed. Over the past 3 years, HGER returned 17.83%/yr vs 5.08%/yr for JMHI. Their -0.07 correlation means they have often moved in opposite directions in the past. HGER charges 0.68%/yr vs 0.35%/yr for JMHI.
Performance
HGER vs. JMHI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HGER achieves a 26.55% return, which is significantly higher than JMHI's 1.15% return.
HGER
- 1D
- -1.07%
- 1M
- 5.94%
- 6M
- 16.20%
- YTD
- 26.55%
- 1Y
- 38.32%
- 3Y*
- 17.83%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.80%
JMHI
- 1D
- 0.47%
- 1M
- -1.62%
- 6M
- 0.35%
- YTD
- 1.15%
- 1Y
- 4.93%
- 3Y*
- 5.08%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $47.22M | $64.61M | $44.53M | |
| $3.61M | $2.18M | $1.50M |
HGER vs. JMHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 26.55% | 20.08% | 9.25% | 1.74% |
JMHI JPMorgan High Yield Municipal ETF | 1.15% | 4.60% | 5.92% | 1.48% |
Correlation
The correlation between HGER and JMHI is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.25 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2023 | -0.07 |
The correlation between HGER and JMHI shifts across timeframes, from -0.25 (1 year) to -0.06 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HGER vs. JMHI — Risk / Return Rank
HGER
JMHI
HGER vs. JMHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) and JPMorgan High Yield Municipal ETF (JMHI). 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 | JMHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.30 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 1.69 | +1.06 |
| Martin ratioReturn relative to average drawdown | 9.68 | 5.52 | +4.16 |
Loading charts...
Drawdowns
HGER vs. JMHI - Drawdown Comparison
The maximum HGER drawdown since its inception was -23.31%, which is greater than JMHI's maximum drawdown of -7.11%. Use the drawdown chart below to compare losses from any high point for HGER and JMHI.
Loading charts...
Drawdown Indicators
| HGER | JMHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -7.11% | -16.20% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -2.93% | -11.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.04% | -5.30% | -8.74% |
Current DrawdownCurrent decline from peak | -6.15% | -1.62% | -4.53% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -1.26% | -6.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 0.89% | +3.08% |
Volatility
HGER vs. JMHI - Volatility Comparison
Harbor Commodity All-Weather Strategy ETF (HGER) has a higher volatility of 5.44% compared to JPMorgan High Yield Municipal ETF (JMHI) at 1.18%. This indicates that HGER's price experiences larger fluctuations and is considered to be riskier than JMHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HGER | JMHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 1.18% | +4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 2.61% | +11.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.78% | 3.20% | +14.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 4.44% | +13.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 4.44% | +13.23% |
HGER vs. JMHI - Expense Ratio Comparison
HGER has a 0.68% expense ratio, which is higher than JMHI's 0.35% expense ratio.
Dividends
HGER vs. JMHI - Dividend Comparison
HGER's dividend yield for the trailing twelve months is around 5.60%, more than JMHI's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 5.60% | 7.09% | 3.28% | 7.24% | 0.64% |
JMHI JPMorgan High Yield Municipal ETF | 4.48% | 4.42% | 4.49% | 2.48% | 0.00% |
Frequently Asked Questions
HGER and JMHI have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HGER has higher volatility (5.44%) compared to JMHI (1.18%). In terms of maximum drawdown, HGER dropped -23.31% vs JMHI's -7.11%.
On 3-year performance, HGER leads with 17.83% vs 5.08% for JMHI. On fees, JMHI is cheaper at 0.35% per year. On volatility, JMHI has been the lower-risk option at 1.18%. 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 17.83% return vs 5.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JMHI is cheaper with a 0.35% expense ratio, compared with 0.68% for HGER.
HGER has the higher dividend yield at 5.60%, compared with 4.48% for JMHI.
HGER is categorized as Commodities, while JMHI is High Yield Muni. They also come from different issuers: Harbor and JPMorgan. Their fees differ too: 0.68% for HGER and 0.35% for JMHI.
HGER currently has the higher Sharpe Ratio (2.17 vs 1.55), 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.
Find the right allocation for HGER and JMHI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer