HRTG vs. ERIE

Last updated Jun 4, 2026

HRTG (Heritage Insurance Holdings, Inc.) and ERIE (Erie Indemnity Company) are both stocks. Both are in the Financial Services sector — HRTG in Insurance - Property & Casualty, ERIE in Insurance Brokers. Over the past 10 years, HRTG returned 6.09%/yr vs 10.07%/yr for ERIE. At a 0.24 correlation, their price movements are largely independent.

Performance

HRTG vs. ERIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Heritage Insurance Holdings, Inc. (HRTG) and Erie Indemnity Company (ERIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HRTG achieves a -28.64% return, which is significantly lower than ERIE's -26.91% return. Over the past 10 years, HRTG has underperformed ERIE with an annualized return of 6.09%, while ERIE has yielded a comparatively higher 10.07% annualized return.

HRTG

• 1D: -1.51%
• 1M: -26.56%
• YTD: -28.64%
• 6M: -25.83%
• 1Y: -15.16%
• 3Y*: 63.24%
• 5Y*: 21.38%
• 10Y*: 6.09%

ERIE

• 1D: -0.14%
• 1M: -1.62%
• YTD: -26.91%
• 6M: -29.26%
• 1Y: -41.67%
• 3Y*: -0.02%
• 5Y*: 3.12%
• 10Y*: 10.07%

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

HRTG vs. ERIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HRTG Heritage Insurance Holdings, Inc.	-28.64%	141.82%	85.58%	262.22%	-68.58%	-40.09%	-21.80%	-8.50%	-17.06%	16.94%
ERIE Erie Indemnity Company	-26.91%	-29.40%	24.67%	37.35%	32.03%	-19.98%	52.39%	27.08%	12.54%	11.23%

Correlation

The correlation between HRTG and ERIE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since May 27, 2014	0.24

Fundamentals

EPS HRTG : $6.53 ERIE : $14.49
PE Ratio HRTG : 3.20 ERIE : 14.30
PEG Ratio HRTG : 0.02 ERIE : 0.74
PS Ratio HRTG : 0.76 ERIE : 1.89
Total Revenue (TTM) HRTG : $848.47M ERIE : $4.33B
Gross Profit (TTM) HRTG : $333.64M ERIE : $784.17M
EBITDA (TTM) HRTG : $285.21M ERIE : $715.87M

Return for Risk

HRTG vs. ERIE — Risk / Return Rank

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

HRTG

HRTG Risk / Return Rank: 26
HRTG Sharpe Ratio Rank: 29
HRTG Sortino Ratio Rank: 30
HRTG Omega Ratio Rank: 30
HRTG Calmar Ratio Rank: 24
HRTG Martin Ratio Rank: 18

ERIE

ERIE Risk / Return Rank: 2
ERIE Sharpe Ratio Rank: 1
ERIE Sortino Ratio Rank: 2
ERIE Omega Ratio Rank: 3
ERIE Calmar Ratio Rank: 3
ERIE Martin Ratio Rank: 2

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.

HRTG vs. ERIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Heritage Insurance Holdings, Inc. (HRTG) and Erie Indemnity Company (ERIE). 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.

	HRTG	ERIE	Difference
Sharpe ratio Return per unit of total volatility	-0.27	-1.39	+1.13
Sortino ratio Return per unit of downside risk	0.00	-2.06	+2.06
Omega ratio Gain probability vs. loss probability	1.00	0.76	+0.24
Calmar ratio Return relative to maximum drawdown	-0.46	-0.97	+0.51
Martin ratio Return relative to average drawdown	-1.07	-1.80	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HRTG vs. ERIE - Sharpe Ratio Comparison

The current HRTG Sharpe Ratio is -0.27, which is higher than the ERIE Sharpe Ratio of -1.39. The chart below compares the historical Sharpe Ratios of HRTG and ERIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HRTG	ERIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	-1.39	+1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.11	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.35	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.23	-0.12

Drawdowns

HRTG vs. ERIE - Drawdown Comparison

The maximum HRTG drawdown since its inception was -94.36%, which is greater than ERIE's maximum drawdown of -78.28%. Use the drawdown chart below to compare losses from any high point for HRTG and ERIE.

Drawdown Indicators

	HRTG	ERIE	Difference
Max Drawdown Largest peak-to-trough decline	-94.36%	-78.28%	-16.08%
Max Drawdown (1Y) Largest decline over 1 year	-32.95%	-43.16%	+10.21%
Max Drawdown (3Y) Largest decline over 3 years	-43.90%	-60.87%	+16.97%
Max Drawdown (5Y) Largest decline over 5 years	-84.89%	-60.87%	-24.02%
Max Drawdown (10Y) Largest decline over 10 years	-92.21%	-60.87%	-31.34%
Current Drawdown Current decline from peak	-32.95%	-60.87%	+27.92%
Average Drawdown Average peak-to-trough decline	-46.56%	-33.55%	-13.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.24%	23.13%	-8.89%

Volatility

HRTG vs. ERIE - Volatility Comparison

Heritage Insurance Holdings, Inc. (HRTG) has a higher volatility of 24.24% compared to Erie Indemnity Company (ERIE) at 8.99%. This indicates that HRTG's price experiences larger fluctuations and is considered to be riskier than ERIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HRTG	ERIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.24%	8.99%	+15.25%
Volatility (6M) Calculated over the trailing 6-month period	37.86%	23.06%	+14.80%
Volatility (1Y) Calculated over the trailing 1-year period	57.28%	29.99%	+27.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.34%	29.20%	+42.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.92%	29.11%	+28.81%

Dividends

HRTG vs. ERIE - Dividend Comparison

HRTG has not paid dividends to shareholders, while ERIE's dividend yield for the trailing twelve months is around 2.73%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERIE Erie Indemnity Company	2.73%	1.90%	1.24%	1.42%	1.79%	2.15%	2.39%	2.17%	2.52%	2.57%	1.95%	3.61%
HRTG Heritage Insurance Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	6.67%	4.08%	2.37%	1.81%	1.63%	1.33%	1.47%	0.23%

Financials

HRTG vs. ERIE - Profitability Comparison

The chart below illustrates the profitability comparison between Heritage Insurance Holdings, Inc. and Erie Indemnity Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HRTG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported a gross profit of 0.00 and revenue of 212.66M. Therefore, the gross margin over that period was 0.0%.

ERIE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Erie Indemnity Company reported a gross profit of 0.00 and revenue of 1.01B. Therefore, the gross margin over that period was 0.0%.

HRTG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported an operating income of 50.82M and revenue of 212.66M, resulting in an operating margin of 23.9%.

ERIE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Erie Indemnity Company reported an operating income of 166.79M and revenue of 1.01B, resulting in an operating margin of 16.5%.

HRTG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported a net income of 36.48M and revenue of 212.66M, resulting in a net margin of 17.2%.

ERIE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Erie Indemnity Company reported a net income of 150.47M and revenue of 1.01B, resulting in a net margin of 14.9%.

Frequently Asked Questions

Can I hold both HRTG and ERIE in my portfolio?

HRTG and ERIE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HRTG or ERIE?

HRTG has higher volatility (24.24%) compared to ERIE (8.99%). In terms of maximum drawdown, HRTG dropped -94.36% vs ERIE's -78.28%.

Which has better risk-adjusted returns?

HRTG currently has the higher Sharpe Ratio (-0.27 vs -1.39), 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.