HOLD vs. HGER

Last updated Jul 17, 2026

HOLD (Harbor Alpha Layering ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - HOLD is a Multistrategy fund actively managed by Harbor, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. HOLD is actively managed, while HGER is passively managed. At a 0.27 correlation, their price movements are largely independent. HOLD charges 0.70%/yr vs 0.68%/yr for HGER.

Performance

HOLD vs. HGER - Performance Comparison

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

Returns By Period

In the year-to-date period, HOLD achieves a 4.88% return, which is significantly lower than HGER's 26.63% return.

HOLD

• 1D: -0.07%
• 1M: -2.78%
• 6M: 3.40%
• YTD: 4.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HGER

• 1D: -1.04%
• 1M: 4.45%
• 6M: 22.27%
• YTD: 26.63%
• 1Y: 36.77%
• 3Y*: 19.44%
• 5Y*: —
• 10Y*: —

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

HOLD vs. HGER - Yearly Performance Comparison

	2026 (YTD)	2025
HOLD Harbor Alpha Layering ETF	4.88%	8.77%
HGER Harbor Commodity All-Weather Strategy ETF	26.63%	9.16%

Correlation

The correlation between HOLD and HGER is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025	0.27

Return for Risk

HOLD vs. HGER — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

HGER

HGER Risk / Return Rank: 75
HGER Sharpe Ratio Rank: 83
HGER Sortino Ratio Rank: 79
HGER Omega Ratio Rank: 81
HGER Calmar Ratio Rank: 66
HGER Martin Ratio Rank: 66

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.

HOLD vs. HGER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Alpha Layering ETF (HOLD) and Harbor Commodity All-Weather Strategy ETF (HGER). 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	HGER	Difference
Sharpe ratio: Return per unit of total volatility	—	2.11	—
Sortino ratio: Return per unit of downside risk	—	2.83	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	2.63	—
Martin ratio: Return relative to average drawdown	—	9.44	—

Drawdowns

HOLD vs. HGER - Drawdown Comparison

The maximum HOLD drawdown since its inception was -9.47%, smaller than the maximum HGER drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for HOLD and HGER.

Drawdown Indicators

	HOLD	HGER	Difference
Max Drawdown Largest peak-to-trough decline	-9.47%	-23.31%	+13.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.04%	—
Current Drawdown Current decline from peak	-8.04%	-6.10%	-1.94%
Average Drawdown Average peak-to-trough decline	-2.45%	-7.70%	+5.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.90%	—

Volatility

Volatility by Period

	HOLD	HGER	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.45%	17.49%	-2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	17.68%	-2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	17.68%	-2.23%

HOLD vs. HGER - Expense Ratio Comparison

HOLD has a 0.70% expense ratio, which is higher than HGER's 0.68% expense ratio.

Dividends

HOLD vs. HGER - Dividend Comparison

HOLD's dividend yield for the trailing twelve months is around 6.98%, more than HGER's 5.60% yield.

Position	TTM	2025	2024	2023	2022
HGER Harbor Commodity All-Weather Strategy ETF	5.60%	7.09%	3.28%	7.24%	0.64%
HOLD Harbor Alpha Layering ETF	6.98%	7.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HOLD and HGER in my portfolio?

HOLD and HGER have a correlation of 0.27, 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 HGER?

On fees, HGER is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOLD or HGER?

HGER is cheaper with a 0.68% expense ratio, compared with 0.70% for HOLD.

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

HOLD has the higher dividend yield at 6.98%, compared with 5.60% for HGER.

What is the main difference between HOLD and HGER?

HOLD is categorized as Multistrategy, while HGER is Commodities. Their fees differ too: 0.70% for HOLD and 0.68% for HGER.