HGER vs. LSEQ

Last updated Apr 2, 2026

Compare and contrast key facts about Harbor Commodity All-Weather Strategy ETF (HGER) and Harbor Long-Short Equity ETF (LSEQ).

HGER and LSEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HGER is a passively managed fund by Harbor that tracks the performance of the Quantix Commodity Index - Benchmark TR Net. It was launched on Feb 9, 2022. LSEQ is an actively managed fund by Harbor. It was launched on Dec 4, 2023.

Performance

HGER vs. LSEQ - Performance Comparison

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

HGER vs. LSEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HGER Harbor Commodity All-Weather Strategy ETF	25.22%	20.08%	9.25%	0.20%
LSEQ Harbor Long-Short Equity ETF	22.47%	4.13%	12.80%	-1.20%

Returns By Period

In the year-to-date period, HGER achieves a 25.22% return, which is significantly higher than LSEQ's 22.47% return.

HGER

• 1D: 0.23%
• 1M: 6.26%
• YTD: 25.22%
• 6M: 29.21%
• 1Y: 37.94%
• 3Y*: 18.53%
• 5Y*: —
• 10Y*: —

LSEQ

• 1D: 1.60%
• 1M: -0.74%
• YTD: 22.47%
• 6M: 23.09%
• 1Y: 19.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HGER vs. LSEQ - Expense Ratio Comparison

HGER has a 0.68% expense ratio, which is lower than LSEQ's 1.70% expense ratio.

LSEQ

Harbor Long-Short Equity ETF

HGER

Harbor Commodity All-Weather Strategy ETF

Return for Risk

HGER vs. LSEQ — Risk / Return Rank

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

HGER

HGER Risk / Return Rank: 93
HGER Sharpe Ratio Rank: 91
HGER Sortino Ratio Rank: 92
HGER Omega Ratio Rank: 90
HGER Calmar Ratio Rank: 96
HGER Martin Ratio Rank: 94

LSEQ

LSEQ Risk / Return Rank: 65
LSEQ Sharpe Ratio Rank: 67
LSEQ Sortino Ratio Rank: 69
LSEQ Omega Ratio Rank: 61
LSEQ Calmar Ratio Rank: 83
LSEQ Martin Ratio Rank: 46

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. LSEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) and Harbor Long-Short Equity ETF (LSEQ). 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.

	HGER	LSEQ	Difference
Sharpe ratio Return per unit of total volatility	2.11	1.24	+0.87
Sortino ratio Return per unit of downside risk	2.78	1.83	+0.96
Omega ratio Gain probability vs. loss probability	1.39	1.24	+0.16
Calmar ratio Return relative to maximum drawdown	4.35	2.65	+1.70
Martin ratio Return relative to average drawdown	15.38	4.80	+10.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HGER vs. LSEQ - Sharpe Ratio Comparison

The current HGER Sharpe Ratio is 2.11, which is higher than the LSEQ Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of HGER and LSEQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HGER	LSEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	1.24	+0.87
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.15	-0.26

Correlation

The correlation between HGER and LSEQ is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HGER vs. LSEQ - Dividend Comparison

HGER's dividend yield for the trailing twelve months is around 5.66%, more than LSEQ's 1.80% yield.

	TTM	2025	2024	2023	2022
HGER Harbor Commodity All-Weather Strategy ETF	5.66%	7.09%	3.28%	7.24%	0.64%
LSEQ Harbor Long-Short Equity ETF	1.80%	2.20%	0.00%	0.00%	0.00%

Drawdowns

HGER vs. LSEQ - Drawdown Comparison

The maximum HGER drawdown since its inception was -23.31%, which is greater than LSEQ's maximum drawdown of -8.35%. Use the drawdown chart below to compare losses from any high point for HGER and LSEQ.

Drawdown Indicators

	HGER	LSEQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.31%	-8.35%	-14.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.84%	-7.40%	-1.44%
Current Drawdown Current decline from peak	-0.38%	-1.04%	+0.66%
Average Drawdown Average peak-to-trough decline	-7.90%	-3.33%	-4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	4.08%	-1.58%

Volatility

HGER vs. LSEQ - Volatility Comparison

Harbor Commodity All-Weather Strategy ETF (HGER) has a higher volatility of 7.23% compared to Harbor Long-Short Equity ETF (LSEQ) at 5.49%. This indicates that HGER's price experiences larger fluctuations and is considered to be riskier than LSEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGER	LSEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	5.49%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	14.60%	12.55%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	15.93%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.78%	14.25%	+3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.78%	14.25%	+3.53%