HOLD vs. HAPI

Last updated Aug 6, 2026

HOLD (Harbor Alpha Layering ETF) and HAPI (Harbor Corporate Culture ETF) are both exchange-traded funds - HOLD is a Multistrategy fund actively managed by Harbor, while HAPI is a Large Cap Blend Equities fund tracking the CIBC Human Capital Index. HOLD is actively managed, while HAPI is passively managed. Their 0.53 correlation means they have sometimes moved together and sometimes differently. HOLD charges 0.70%/yr vs 0.35%/yr for HAPI.

Performance

HOLD vs. HAPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Alpha Layering ETF (HOLD) and Harbor Corporate Culture ETF (HAPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOLD achieves a 4.94% return, which is significantly lower than HAPI's 12.84% return.

HOLD

• 1D: -1.17%
• 1M: -0.32%
• 6M: 3.42%
• YTD: 4.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

HAPI

• 1D: -0.05%
• 1M: 3.55%
• 6M: 12.37%
• YTD: 12.84%
• 1Y: 20.85%
• 3Y*: 21.77%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HAPI Harbor Corporate Culture ETF	$85.52K	$62.13K	$73.07K
HOLD Harbor Alpha Layering ETF	$9.56K	$9.58K	$14.74K

HOLD vs. HAPI - Yearly Performance Comparison

	2026 (YTD)	2025
HOLD Harbor Alpha Layering ETF	4.94%	8.77%
HAPI Harbor Corporate Culture ETF	12.84%	5.47%

Correlation

The correlation between HOLD and HAPI is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025	0.53

Return for Risk

HOLD vs. HAPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HOLD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HAPI

HAPI Risk / Return Rank: 66
HAPI Sharpe Ratio Rank: 65
HAPI Sortino Ratio Rank: 66
HAPI Omega Ratio Rank: 61
HAPI Calmar Ratio Rank: 65
HAPI Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HOLD vs. HAPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Alpha Layering ETF (HOLD) and Harbor Corporate Culture ETF (HAPI). 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.

	HOLD	HAPI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.73	—
Sortino ratio: Return per unit of downside risk	—	2.47	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.58	—
Martin ratio: Return relative to average drawdown	—	10.59	—

Drawdowns

HOLD vs. HAPI - Drawdown Comparison

The maximum HOLD drawdown since its inception was -9.47%, smaller than the maximum HAPI drawdown of -19.46%. Use the drawdown chart below to compare losses from any high point for HOLD and HAPI.

Drawdown Indicators

	HOLD	HAPI	Difference
Max Drawdown Largest peak-to-trough decline	-9.47%	-19.46%	+9.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.12%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.46%	—
Current Drawdown Current decline from peak	-7.99%	-0.05%	-7.94%
Average Drawdown Average peak-to-trough decline	-2.75%	-2.00%	-0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.97%	—

Volatility

Volatility by Period

	HOLD	HAPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.27%	12.09%	+3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.27%	15.63%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.27%	15.63%	-0.36%

HOLD vs. HAPI - Expense Ratio Comparison

HOLD has a 0.70% expense ratio, which is higher than HAPI's 0.35% expense ratio.

Dividends

HOLD vs. HAPI - Dividend Comparison

HOLD's dividend yield for the trailing twelve months is around 6.97%, more than HAPI's 0.77% yield.

Position	TTM	2025	2024	2023	2022
HAPI Harbor Corporate Culture ETF	0.77%	0.87%	0.21%	1.21%	0.29%
HOLD Harbor Alpha Layering ETF	6.97%	7.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HOLD and HAPI in my portfolio?

HOLD and HAPI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HOLD or HAPI?

On fees, HAPI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOLD or HAPI?

HAPI is cheaper with a 0.35% expense ratio, compared with 0.70% for HOLD.

Which ETF pays a higher dividend yield, HOLD or HAPI?

HOLD has the higher dividend yield at 6.97%, compared with 0.77% for HAPI.

What is the main difference between HOLD and HAPI?

HOLD is categorized as Multistrategy, while HAPI is Large Cap Blend Equities. Their fees differ too: 0.70% for HOLD and 0.35% for HAPI.