HGER vs. XOP
HGER (Harbor Commodity All-Weather Strategy ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both exchange-traded funds - HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net, while XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. Over the past 3 years, HGER returned 18.60%/yr vs 8.56%/yr for XOP. A 0.54 correlation means they provide meaningful diversification when combined. HGER charges 0.68%/yr vs 0.35%/yr for XOP.
Performance
HGER vs. XOP - Performance Comparison
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Returns By Period
In the year-to-date period, HGER achieves a 23.17% return, which is significantly lower than XOP's 26.71% return.
HGER
- 1D
- -0.84%
- 1M
- 0.86%
- 6M
- 20.50%
- YTD
- 23.17%
- 1Y
- 31.96%
- 3Y*
- 18.60%
- 5Y*
- —
- 10Y*
- —
XOP
- 1D
- -0.56%
- 1M
- -2.49%
- 6M
- 25.57%
- YTD
- 26.71%
- 1Y
- 21.93%
- 3Y*
- 8.56%
- 5Y*
- 13.75%
- 10Y*
- 2.97%
HGER vs. XOP - 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% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 26.71% | -2.15% | -1.00% | 3.56% | 26.75% |
Correlation
The correlation between HGER and XOP is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.54 |
The correlation between HGER and XOP has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.
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Return for Risk
HGER vs. XOP — Risk / Return Rank
HGER
XOP
HGER vs. XOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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 | XOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.15 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 1.23 | +1.16 |
| Martin ratioReturn relative to average drawdown | 8.73 | 3.01 | +5.72 |
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Drawdowns
HGER vs. XOP - Drawdown Comparison
The maximum HGER drawdown since its inception was -23.31%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for HGER and XOP.
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Drawdown Indicators
| HGER | XOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -90.27% | +66.96% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -18.50% | +4.46% |
Max Drawdown (3Y)Largest decline over 3 years | -14.04% | -34.98% | +20.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.61% | — |
Current DrawdownCurrent decline from peak | -8.66% | -40.77% | +32.11% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -42.57% | +34.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.83% | 7.54% | -3.71% |
Volatility
HGER vs. XOP - Volatility Comparison
The current volatility for Harbor Commodity All-Weather Strategy ETF (HGER) is 5.75%, while SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a volatility of 7.88%. This indicates that HGER experiences smaller price fluctuations and is considered to be less risky than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HGER | XOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.75% | 7.88% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 15.35% | 22.07% | -6.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.37% | 28.03% | -10.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 33.73% | -16.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 40.17% | -22.50% |
HGER vs. XOP - Expense Ratio Comparison
HGER has a 0.68% expense ratio, which is higher than XOP's 0.35% expense ratio.
Dividends
HGER vs. XOP - Dividend Comparison
HGER's dividend yield for the trailing twelve months is around 5.75%, more than XOP's 2.05% 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% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 2.05% | 2.62% | 2.45% | 2.63% | 2.47% | 1.61% | 2.34% | 1.47% | 0.99% | 0.76% | 0.76% | 2.21% |
Frequently Asked Questions
HGER and XOP have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XOP has higher volatility (7.88%) compared to HGER (5.75%). In terms of maximum drawdown, HGER dropped -23.31% vs XOP's -90.27%.
On 3-year performance, HGER leads with 18.60% vs 8.56% for XOP. On fees, XOP is cheaper at 0.35% per year. On volatility, HGER has been the lower-risk option at 5.75%. 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 18.60% return vs 8.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XOP is cheaper with a 0.35% expense ratio, compared with 0.68% for HGER.
HGER has the higher dividend yield at 5.75%, compared with 2.05% for XOP.
HGER is categorized as Commodities, while XOP is Energy Equities. HGER tracks Quantix Commodity Index - Benchmark TR Net, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: Harbor and State Street. Their fees differ too: 0.68% for HGER and 0.35% for XOP.
HGER currently has the higher Sharpe Ratio (1.93 vs 0.81), 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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