IXC vs. HGER
IXC (iShares Global Energy ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, IXC returned 14.69%/yr vs 18.60%/yr for HGER. A 0.59 correlation means they provide meaningful diversification when combined. IXC charges 0.40%/yr vs 0.68%/yr for HGER.
Performance
IXC vs. HGER - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IXC having a 23.35% return and HGER slightly lower at 23.17%.
IXC
- 1D
- 0.51%
- 1M
- -4.24%
- 6M
- 20.68%
- YTD
- 23.35%
- 1Y
- 29.02%
- 3Y*
- 14.69%
- 5Y*
- 18.91%
- 10Y*
- 8.83%
HGER
- 1D
- -0.84%
- 1M
- 0.86%
- 6M
- 20.50%
- YTD
- 23.17%
- 1Y
- 31.96%
- 3Y*
- 18.60%
- 5Y*
- —
- 10Y*
- —
IXC vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 23.35% | 13.98% | 1.95% | 3.92% | 21.99% |
HGER Harbor Commodity All-Weather Strategy ETF | 23.17% | 20.08% | 9.25% | 1.93% | 9.66% |
Correlation
The correlation between IXC and HGER is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.59 |
The correlation between IXC and HGER has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.
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Return for Risk
IXC vs. HGER — Risk / Return Rank
IXC
HGER
IXC vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) 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.
| IXC | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.39 | -0.43 |
| Martin ratioReturn relative to average drawdown | 6.26 | 8.73 | -2.47 |
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Drawdowns
IXC vs. HGER - Drawdown Comparison
The maximum IXC drawdown since its inception was -67.88%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for IXC and HGER.
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Drawdown Indicators
| IXC | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.88% | -23.31% | -44.57% |
Max Drawdown (1Y)Largest decline over 1 year | -15.36% | -14.04% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -14.04% | -5.02% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.16% | — | — |
Current DrawdownCurrent decline from peak | -11.22% | -8.66% | -2.56% |
Average DrawdownAverage peak-to-trough decline | -17.45% | -7.71% | -9.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 3.83% | +0.95% |
Volatility
IXC vs. HGER - Volatility Comparison
iShares Global Energy ETF (IXC) has a higher volatility of 6.59% compared to Harbor Commodity All-Weather Strategy ETF (HGER) at 5.75%. This indicates that IXC's price experiences larger fluctuations and is considered to be riskier than HGER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IXC | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.59% | 5.75% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 15.86% | 15.35% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.18% | 17.37% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.45% | 17.67% | +5.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.81% | 17.67% | +9.14% |
IXC vs. HGER - Expense Ratio Comparison
IXC has a 0.40% expense ratio, which is lower than HGER's 0.68% expense ratio.
Dividends
IXC vs. HGER - Dividend Comparison
IXC's dividend yield for the trailing twelve months is around 3.08%, less than HGER's 5.75% 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% |
IXC iShares Global Energy ETF | 3.08% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
Frequently Asked Questions
IXC and HGER have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IXC has higher volatility (6.59%) compared to HGER (5.75%). In terms of maximum drawdown, IXC dropped -67.88% vs HGER's -23.31%.
On 3-year performance, HGER leads with 18.60% vs 14.69% for IXC. On fees, IXC is cheaper at 0.40% 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 14.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXC is cheaper with a 0.40% expense ratio, compared with 0.68% for HGER.
HGER has the higher dividend yield at 5.75%, compared with 3.08% for IXC.
IXC is categorized as Energy Equities, while HGER is Commodities. IXC tracks S&P Global 1200 Energy Capped Index, while HGER tracks Quantix Commodity Index - Benchmark TR Net. They also come from different issuers: iShares and Harbor. Their fees differ too: 0.40% for IXC and 0.68% for HGER.
HGER currently has the higher Sharpe Ratio (1.93 vs 1.56), 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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