LSEQ vs. IAK

Last updated Aug 4, 2026

LSEQ (Harbor Long-Short Equity ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - LSEQ is a Long-Short fund actively managed by Harbor, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. LSEQ is actively managed, while IAK is passively managed. Over the past year, LSEQ returned 21.18% vs 19.67% for IAK. Their 0.07 correlation means their historical movements had little consistent relationship. LSEQ charges 1.70%/yr vs 0.38%/yr for IAK.

Performance

LSEQ vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Long-Short Equity ETF (LSEQ) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSEQ achieves a 19.52% return, which is significantly higher than IAK's 10.11% return.

LSEQ

• 1D: -3.11%
• 1M: -4.11%
• 6M: 7.53%
• YTD: 19.52%
• 1Y: 21.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.07%

IAK

• 1D: 0.03%
• 1M: -0.03%
• 6M: 12.56%
• YTD: 10.11%
• 1Y: 19.67%
• 3Y*: 19.67%
• 5Y*: 15.99%
• 10Y*: 13.18%
• ALL TIME*: 7.39%

*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)
IAK iShares U.S. Insurance ETF	$15.27M	$20.59M	$12.29M
LSEQ Harbor Long-Short Equity ETF	$52.67K	$50.40K	$61.03K

LSEQ vs. IAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LSEQ Harbor Long-Short Equity ETF	19.52%	4.13%	12.80%	-1.20%
IAK iShares U.S. Insurance ETF	10.11%	9.50%	28.25%	1.08%

Correlation

The correlation between LSEQ and IAK is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.14
Correlation (All Time) Calculated using the full available price history since Dec 4, 2023	0.07

The correlation between LSEQ and IAK shifts across timeframes, from -0.14 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

LSEQ vs. IAK - Sectors Allocation Comparison

Sectors	LSEQ	IAK
Technology	21.2%	-
Healthcare	17.4%	0.7%
Basic Materials	15.0%	-
Consumer Cyclical	12.7%	-
Industrials	9.8%	-
Communication Services	9.3%	-
Energy	6.8%	-
Utilities	4.3%	-
Consumer Defensive	3.0%	-
Financial Services	0.6%	99.3%
Real Estate	-	-

Return for Risk

LSEQ vs. IAK — Risk / Return Rank

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

LSEQ

LSEQ Risk / Return Rank: 53
LSEQ Sharpe Ratio Rank: 47
LSEQ Sortino Ratio Rank: 46
LSEQ Omega Ratio Rank: 45
LSEQ Calmar Ratio Rank: 68
LSEQ Martin Ratio Rank: 61

IAK

IAK Risk / Return Rank: 54
IAK Sharpe Ratio Rank: 49
IAK Sortino Ratio Rank: 49
IAK Omega Ratio Rank: 47
IAK Calmar Ratio Rank: 72
IAK Martin Ratio Rank: 52

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.

LSEQ vs. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Long-Short Equity ETF (LSEQ) and iShares U.S. Insurance ETF (IAK). 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.

	LSEQ	IAK	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.24	-0.01
Sortino ratio: Return per unit of downside risk	1.77	1.81	-0.04
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	2.51	2.59	-0.08
Martin ratio: Return relative to average drawdown	7.61	6.29	+1.32

LSEQ vs. IAK - Sharpe Ratio Comparison

The current LSEQ Sharpe Ratio is 1.23, which is comparable to the IAK Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of LSEQ and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LSEQ vs. IAK - Drawdown Comparison

The maximum LSEQ drawdown since its inception was -8.47%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for LSEQ and IAK.

Drawdown Indicators

	LSEQ	IAK	Difference
Max Drawdown Largest peak-to-trough decline	-8.47%	-77.38%	+68.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-7.62%	-0.85%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.95%	—
Current Drawdown Current decline from peak	-8.47%	-3.20%	-5.27%
Average Drawdown Average peak-to-trough decline	-3.24%	-16.01%	+12.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	3.13%	-0.34%

Volatility

LSEQ vs. IAK - Volatility Comparison

Harbor Long-Short Equity ETF (LSEQ) has a higher volatility of 7.34% compared to iShares U.S. Insurance ETF (IAK) at 6.56%. This indicates that LSEQ's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSEQ	IAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	6.56%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	12.42%	+1.90%
Volatility (1Y) Calculated over the trailing 1-year period	17.34%	15.99%	+1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.01%	18.13%	-3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.01%	20.92%	-5.91%

LSEQ vs. IAK - Expense Ratio Comparison

LSEQ has a 1.70% expense ratio, which is higher than IAK's 0.38% expense ratio.

Dividends

LSEQ vs. IAK - Dividend Comparison

LSEQ's dividend yield for the trailing twelve months is around 1.84%, less than IAK's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAK iShares U.S. Insurance ETF	2.42%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%
LSEQ Harbor Long-Short Equity ETF	1.84%	2.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LSEQ and IAK in my portfolio?

LSEQ and IAK have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSEQ or IAK?

LSEQ has higher volatility (7.34%) compared to IAK (6.56%). In terms of maximum drawdown, LSEQ dropped -8.47% vs IAK's -77.38%.

Which ETF is better, LSEQ or IAK?

On 1-year performance, LSEQ leads with 21.18% vs 19.67% for IAK. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LSEQ or IAK?

Over the 1-year period, LSEQ has performed better with a 21.18% return vs 19.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LSEQ or IAK?

IAK is cheaper with a 0.38% expense ratio, compared with 1.70% for LSEQ.

Which ETF pays a higher dividend yield, LSEQ or IAK?

IAK has the higher dividend yield at 2.42%, compared with 1.84% for LSEQ.

What is the main difference between LSEQ and IAK?

LSEQ is categorized as Long-Short, while IAK is Financials Equities. They also come from different issuers: Harbor and iShares. Their fees differ too: 1.70% for LSEQ and 0.38% for IAK.

Which has better risk-adjusted returns?

IAK currently has the higher Sharpe Ratio (1.24 vs 1.23), 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.