LBO vs. HGER
LBO (WHITEWOLF Publicly Listed Private Equity ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - LBO is a Financials Equities fund actively managed by Alpha Architect, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. LBO is actively managed, while HGER is passively managed. Over the past year, LBO returned -14.55% vs 41.17% for HGER. Their 0.04 correlation means their historical movements had little consistent relationship. LBO charges 0.70%/yr vs 0.68%/yr for HGER.
Performance
LBO vs. HGER - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LBO achieves a -10.41% return, which is significantly lower than HGER's 29.53% return.
LBO
- 1D
- 0.99%
- 1M
- 3.40%
- 6M
- -7.82%
- YTD
- -10.41%
- 1Y
- -14.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.37%
HGER
- 1D
- 0.00%
- 1M
- 8.43%
- 6M
- 20.19%
- YTD
- 29.53%
- 1Y
- 41.17%
- 3Y*
- 18.61%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $46.51M | $66.72M | $45.77M | |
| $3.76K | $7.07K | $41.04K |
LBO vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
LBO WHITEWOLF Publicly Listed Private Equity ETF | -10.41% | -6.41% | 30.93% | 7.39% |
HGER Harbor Commodity All-Weather Strategy ETF | 29.53% | 20.08% | 9.25% | -2.11% |
Correlation
The correlation between LBO and HGER is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023 | 0.04 |
The correlation between LBO and HGER shifts across timeframes, from -0.09 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LBO vs. HGER — Risk / Return Rank
LBO
HGER
LBO vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WHITEWOLF Publicly Listed Private Equity ETF (LBO) 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.
| LBO | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -3.92 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.41 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 2.87 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.10 | 10.23 | -11.34 |
Loading charts...
Drawdowns
LBO vs. HGER - Drawdown Comparison
The maximum LBO drawdown since its inception was -31.40%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for LBO and HGER.
Loading charts...
Drawdown Indicators
| LBO | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.40% | -23.31% | -8.09% |
Max Drawdown (1Y)Largest decline over 1 year | -27.32% | -14.04% | -13.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.04% | — |
Current DrawdownCurrent decline from peak | -21.24% | -3.94% | -17.30% |
Average DrawdownAverage peak-to-trough decline | -9.21% | -7.66% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.51% | 3.94% | +10.57% |
Volatility
LBO vs. HGER - Volatility Comparison
WHITEWOLF Publicly Listed Private Equity ETF (LBO) and Harbor Commodity All-Weather Strategy ETF (HGER) have volatilities of 5.58% and 5.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LBO | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.58% | 5.64% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 18.33% | 15.43% | +2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.30% | 17.71% | +4.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.15% | 17.67% | +3.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.15% | 17.67% | +3.48% |
LBO vs. HGER - Expense Ratio Comparison
LBO has a 0.70% expense ratio, which is higher than HGER's 0.68% expense ratio.
Dividends
LBO vs. HGER - Dividend Comparison
LBO's dividend yield for the trailing twelve months is around 6.64%, more than HGER's 5.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 5.47% | 7.09% | 3.28% | 7.24% | 0.64% |
LBO WHITEWOLF Publicly Listed Private Equity ETF | 6.64% | 7.04% | 5.79% | 1.20% | 0.00% |
Frequently Asked Questions
LBO and HGER have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HGER has higher volatility (5.64%) compared to LBO (5.58%). In terms of maximum drawdown, LBO dropped -31.40% vs HGER's -23.31%.
On 1-year performance, HGER leads with 41.17% vs -14.55% for LBO. On fees, HGER is cheaper at 0.68% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HGER has performed better with a 41.17% return vs -14.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HGER is cheaper with a 0.68% expense ratio, compared with 0.70% for LBO.
LBO has the higher dividend yield at 6.64%, compared with 5.47% for HGER.
LBO is categorized as Financials Equities, while HGER is Commodities. They also come from different issuers: Alpha Architect and Harbor. Their fees differ too: 0.70% for LBO and 0.68% for HGER.
HGER currently has the higher Sharpe Ratio (2.28 vs -0.72), 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.
Find the right allocation for LBO and HGER
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer