HMCNX vs. HACBX

Last updated Jun 26, 2026

HMCNX (Harbor Mid Cap Fund) and HACBX (Harbor Core Bond Fund) are both mutual funds - HMCNX is a Mid Cap Blend Equities fund managed by Harbor, while HACBX is a Intermediate Core Bond fund managed by Harbor. Over the past 5 years, HMCNX returned 7.36%/yr vs 0.14%/yr for HACBX. At a 0.09 correlation, their price movements are largely independent. HMCNX charges 1.24%/yr vs 0.40%/yr for HACBX.

Performance

HMCNX vs. HACBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Mid Cap Fund (HMCNX) and Harbor Core Bond Fund (HACBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HMCNX achieves a 15.40% return, which is significantly higher than HACBX's 0.99% return.

HMCNX

• 1D: 0.78%
• 1M: 1.99%
• YTD: 15.40%
• 6M: 13.87%
• 1Y: 27.37%
• 3Y*: 14.69%
• 5Y*: 7.36%
• 10Y*: —

HACBX

• 1D: 0.45%
• 1M: 0.81%
• YTD: 0.99%
• 6M: 0.87%
• 1Y: 4.45%
• 3Y*: 4.15%
• 5Y*: 0.14%
• 10Y*: —

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

HMCNX vs. HACBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HMCNX Harbor Mid Cap Fund	15.40%	9.38%	7.01%	16.44%	-17.46%	24.12%	18.45%	3.52%
HACBX Harbor Core Bond Fund	0.99%	7.02%	1.57%	5.73%	-13.36%	-1.66%	9.10%	-0.26%

Correlation

The correlation between HMCNX and HACBX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Dec 2, 2019	0.09

Over the past year, HMCNX and HACBX have become more correlated (0.32) than their long-term average of 0.09, meaning their price movements have been converging.

Return for Risk

HMCNX vs. HACBX — Risk / Return Rank

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

HMCNX

HMCNX Risk / Return Rank: 64
HMCNX Sharpe Ratio Rank: 57
HMCNX Sortino Ratio Rank: 64
HMCNX Omega Ratio Rank: 52
HMCNX Calmar Ratio Rank: 77
HMCNX Martin Ratio Rank: 72

HACBX

HACBX Risk / Return Rank: 26
HACBX Sharpe Ratio Rank: 27
HACBX Sortino Ratio Rank: 27
HACBX Omega Ratio Rank: 26
HACBX Calmar Ratio Rank: 27
HACBX Martin Ratio Rank: 23

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.

HMCNX vs. HACBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Mid Cap Fund (HMCNX) and Harbor Core Bond Fund (HACBX). 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.

	HMCNX	HACBX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.22	+0.61
Sortino ratio: Return per unit of downside risk	2.70	1.81	+0.90
Omega ratio: Gain probability vs. loss probability	1.32	1.22	+0.10
Calmar ratio: Return relative to maximum drawdown	2.96	1.64	+1.32
Martin ratio: Return relative to average drawdown	11.37	4.72	+6.65

HMCNX vs. HACBX - Sharpe Ratio Comparison

The current HMCNX Sharpe Ratio is 1.83, which is higher than the HACBX Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of HMCNX and HACBX, 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

HMCNX vs. HACBX - Drawdown Comparison

The maximum HMCNX drawdown since its inception was -38.10%, which is greater than HACBX's maximum drawdown of -18.48%. Use the drawdown chart below to compare losses from any high point for HMCNX and HACBX.

Drawdown Indicators

	HMCNX	HACBX	Difference
Max Drawdown Largest peak-to-trough decline	-38.10%	-18.48%	-19.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-2.80%	-6.20%
Max Drawdown (3Y) Largest decline over 3 years	-20.80%	-6.26%	-14.54%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-18.43%	-5.39%
Current Drawdown Current decline from peak	-0.66%	-1.15%	+0.49%
Average Drawdown Average peak-to-trough decline	-6.84%	-5.27%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	0.97%	+1.37%

Volatility

HMCNX vs. HACBX - Volatility Comparison

Harbor Mid Cap Fund (HMCNX) has a higher volatility of 4.65% compared to Harbor Core Bond Fund (HACBX) at 1.13%. This indicates that HMCNX's price experiences larger fluctuations and is considered to be riskier than HACBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMCNX	HACBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	1.13%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	10.98%	2.82%	+8.16%
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	3.78%	+10.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	5.94%	+11.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.28%	5.25%	+16.03%

HMCNX vs. HACBX - Expense Ratio Comparison

HMCNX has a 1.24% expense ratio, which is higher than HACBX's 0.40% expense ratio.

Dividends

HMCNX vs. HACBX - Dividend Comparison

HMCNX's dividend yield for the trailing twelve months is around 2.17%, less than HACBX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HACBX Harbor Core Bond Fund	4.49%	4.50%	4.21%	3.83%	3.15%	2.18%	4.43%	3.55%	1.73%
HMCNX Harbor Mid Cap Fund	2.17%	2.50%	0.27%	1.94%	2.93%	1.79%	0.00%	0.02%	0.00%

Frequently Asked Questions

Can I hold both HMCNX and HACBX in my portfolio?

HMCNX and HACBX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HMCNX or HACBX?

HMCNX has higher volatility (4.65%) compared to HACBX (1.13%). In terms of maximum drawdown, HMCNX dropped -38.10% vs HACBX's -18.48%.

Which has better risk-adjusted returns?

HMCNX currently has the higher Sharpe Ratio (1.83 vs 1.22), 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.