HGER vs. LLY

Last updated Jul 12, 2026

HGER (Harbor Commodity All-Weather Strategy ETF) is Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net, while LLY (Eli Lilly and Company) is a stock. Over the past 3 years, HGER returned 18.60%/yr vs 40.33%/yr for LLY. At a correlation of -0.02, they often move in opposite directions.

Performance

HGER vs. LLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Commodity All-Weather Strategy ETF (HGER) and Eli Lilly and Company (LLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HGER achieves a 23.17% return, which is significantly higher than LLY's 10.97% return.

HGER

• 1D: -0.84%
• 1M: 0.86%
• 6M: 20.50%
• YTD: 23.17%
• 1Y: 31.96%
• 3Y*: 18.60%
• 5Y*: —
• 10Y*: —

LLY

• 1D: -2.33%
• 1M: 2.38%
• 6M: 12.13%
• YTD: 10.97%
• 1Y: 50.94%
• 3Y*: 40.33%
• 5Y*: 39.60%
• 10Y*: 33.16%

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

HGER vs. LLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HGER Harbor Commodity All-Weather Strategy ETF	23.17%	20.08%	9.25%	1.93%	9.66%
LLY Eli Lilly and Company	10.97%	40.25%	33.30%	60.91%	52.44%

Correlation

The correlation between HGER and LLY is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022	-0.02

The correlation between HGER and LLY shifts across timeframes, from -0.18 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HGER vs. LLY — Risk / Return Rank

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

HGER

HGER Risk / Return Rank: 69
HGER Sharpe Ratio Rank: 76
HGER Sortino Ratio Rank: 72
HGER Omega Ratio Rank: 75
HGER Calmar Ratio Rank: 60
HGER Martin Ratio Rank: 62

LLY

LLY Risk / Return Rank: 80
LLY Sharpe Ratio Rank: 83
LLY Sortino Ratio Rank: 78
LLY Omega Ratio Rank: 79
LLY Calmar Ratio Rank: 81
LLY Martin Ratio Rank: 81

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.

HGER vs. LLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) and Eli Lilly and Company (LLY). 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	LLY	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.33	+0.59
Sortino ratio: Return per unit of downside risk	2.61	1.93	+0.68
Omega ratio: Gain probability vs. loss probability	1.35	1.26	+0.09
Calmar ratio: Return relative to maximum drawdown	2.39	2.23	+0.16
Martin ratio: Return relative to average drawdown	8.73	5.56	+3.17

HGER vs. LLY - Sharpe Ratio Comparison

The current HGER Sharpe Ratio is 1.93, which is higher than the LLY Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of HGER and LLY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HGER vs. LLY - Drawdown Comparison

The maximum HGER drawdown since its inception was -23.31%, smaller than the maximum LLY drawdown of -68.24%. Use the drawdown chart below to compare losses from any high point for HGER and LLY.

Drawdown Indicators

	HGER	LLY	Difference
Max Drawdown Largest peak-to-trough decline	-23.31%	-68.24%	+44.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.04%	-23.18%	+9.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.04%	-34.48%	+20.44%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.48%	—
Current Drawdown Current decline from peak	-8.66%	-3.80%	-4.86%
Average Drawdown Average peak-to-trough decline	-7.71%	-19.19%	+11.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	9.27%	-5.44%

Volatility

HGER vs. LLY - Volatility Comparison

The current volatility for Harbor Commodity All-Weather Strategy ETF (HGER) is 5.75%, while Eli Lilly and Company (LLY) has a volatility of 9.93%. This indicates that HGER experiences smaller price fluctuations and is considered to be less risky than LLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGER	LLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	9.93%	-4.18%
Volatility (6M) Calculated over the trailing 6-month period	15.35%	27.64%	-12.29%
Volatility (1Y) Calculated over the trailing 1-year period	17.37%	38.71%	-21.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	32.51%	-14.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	30.30%	-12.63%

Dividends

HGER vs. LLY - Dividend Comparison

HGER's dividend yield for the trailing twelve months is around 5.75%, more than LLY's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HGER Harbor Commodity All-Weather Strategy ETF	5.75%	7.09%	3.28%	7.24%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LLY Eli Lilly and Company	0.54%	0.56%	0.67%	0.78%	1.07%	1.23%	1.75%	1.96%	1.94%	2.46%	2.77%	2.37%

Frequently Asked Questions

Can I hold both HGER and LLY in my portfolio?

HGER and LLY have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HGER or LLY?

LLY has higher volatility (9.93%) compared to HGER (5.75%). In terms of maximum drawdown, HGER dropped -23.31% vs LLY's -68.24%.

Which has better risk-adjusted returns?

HGER currently has the higher Sharpe Ratio (1.93 vs 1.33), 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.