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NDIV vs. HAP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NDIV vs. HAP

Last updated Aug 2, 2026
Documentation

NDIV (Amplify Natural Resources Dividend Income ETF) and HAP (VanEck Natural Resources ETF) are both Energy Equities funds - NDIV tracks the EQM Natural Resources Dividend Income Index while HAP tracks the MarketVector Global Natural Resources Index. Both are passively managed. Over the past 3 years, NDIV returned 15.74%/yr vs 14.98%/yr for HAP. Their 0.77 correlation means they have sometimes moved together and sometimes differently. NDIV charges 0.59%/yr vs 0.42%/yr for HAP.

Performance

NDIV vs. HAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Natural Resources Dividend Income ETF (NDIV) and VanEck Natural Resources ETF (HAP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NDIV achieves a 33.67% return, which is significantly higher than HAP's 18.12% return.

NDIV

1D
1.10%
1M
8.05%
6M
18.09%
YTD
33.67%
1Y
33.78%
3Y*
15.74%
5Y*
—
10Y*
—
ALL TIME*
14.64%

HAP

1D
-1.03%
1M
2.81%
6M
5.60%
YTD
18.12%
1Y
39.17%
3Y*
14.98%
5Y*
12.25%
10Y*
11.44%
ALL TIME*
5.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HAP

VanEck Natural Resources ETF
$1.89M$2.98M$2.39M

NDIV

Amplify Natural Resources Dividend Income ETF
$359.17K$364.93K$506.10K

NDIV vs. HAP - Yearly Performance Comparison

2026 (YTD)2025202420232022
NDIV
Amplify Natural Resources Dividend Income ETF		33.67%2.85%6.18%15.52%1.50%
HAP
VanEck Natural Resources ETF		18.12%34.91%-4.08%2.46%3.12%

Correlation

The correlation between NDIV and HAP is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.51

Correlation (3Y)
Balances recent behavior with more history.

0.70

Correlation (All Time)
Calculated using the full available price history since Aug 24, 2022

0.77

Over the past year, the correlation between NDIV and HAP has dropped to 0.51 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

NDIV vs. HAP - Sectors Allocation Comparison

Sectors
NDIV
HAP

Energy

80.6%
28.7%

Basic Materials

19.2%
38.2%

Industrials

6.5%
11.6%

Financial Services

0.7%

-

Communication Services

-

-

Consumer Cyclical

-

0.2%

Consumer Defensive

-

6.3%

Healthcare

-

3.8%

Real Estate

-

0.4%

Technology

-

1.0%

Utilities

-

9.8%

Energy

NDIV
80.6%
HAP
28.7%

Basic Materials

NDIV
19.2%
HAP
38.2%

Industrials

NDIV
6.5%
HAP
11.6%

Financial Services

NDIV
0.7%
HAP

-

Communication Services

NDIV

-

HAP

-

Consumer Cyclical

NDIV

-

HAP
0.2%

Consumer Defensive

NDIV

-

HAP
6.3%

Healthcare

NDIV

-

HAP
3.8%

Real Estate

NDIV

-

HAP
0.4%

Technology

NDIV

-

HAP
1.0%

Utilities

NDIV

-

HAP
9.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Amplify Natural Resources Dividend Income ETF

VanEck Natural Resources ETF

Often compared with NDIV:
NDIV vs. DIVONDIV vs. CCAPNDIV vs. INCONDIV vs. FTRINDIV vs. MLPRNDIV vs. IVVNDIV vs. GUNR
Often compared with HAP:
HAP vs. GUNRHAP vs. NANRHAP vs. URAHAP vs. QQQHAP vs. DGROHAP vs. SPYHAP vs. DHS

Return for Risk

NDIV vs. HAP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
NDIV
NDIV Risk / Return Rank: 6565
Overall Rank
NDIV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
NDIV Sortino Ratio Rank: 6363
Sortino Ratio Rank
NDIV Omega Ratio Rank: 6262
Omega Ratio Rank
NDIV Calmar Ratio Rank: 7575
Calmar Ratio Rank
NDIV Martin Ratio Rank: 5555
Martin Ratio Rank
HAP
HAP Risk / Return Rank: 9191
Overall Rank
HAP Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
HAP Sortino Ratio Rank: 9191
Sortino Ratio Rank
HAP Omega Ratio Rank: 9191
Omega Ratio Rank
HAP Calmar Ratio Rank: 9292
Calmar Ratio Rank
HAP Martin Ratio Rank: 8686
Martin Ratio Rank
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.

NDIV vs. HAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Natural Resources Dividend Income ETF (NDIV) and VanEck Natural Resources ETF (HAP). 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.

NDIVHAPDifference
Sharpe ratioReturn per unit of total volatility
1.56
2.48

-0.92

Sortino ratioReturn per unit of downside risk
2.10
3.21

-1.11

Omega ratioGain probability vs. loss probability

1.26

1.44

-0.18

Calmar ratioReturn relative to maximum drawdown

2.63

4.28

-1.65

Martin ratioReturn relative to average drawdown

6.50

12.10

-5.60

NDIV vs. HAP - Sharpe Ratio Comparison

The current NDIV Sharpe Ratio is 1.56, which is lower than the HAP Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of NDIV and HAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NDIV vs. HAP - Drawdown Comparison

The maximum NDIV drawdown since its inception was -19.73%, smaller than the maximum HAP drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for NDIV and HAP.

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Drawdown Indicators

NDIVHAPDifference

Max Drawdown

Largest peak-to-trough decline

-19.73%

-50.99%

+31.26%

Max Drawdown (1Y)

Largest decline over 1 year

-11.56%

-9.09%

-2.47%

Max Drawdown (3Y)

Largest decline over 3 years

-19.73%

-16.92%

-2.81%

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.66%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.07%

—

Current Drawdown

Current decline from peak

-3.34%

-4.67%

+1.33%

Average Drawdown

Average peak-to-trough decline

-4.31%

-12.03%

+7.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.69%

3.21%

+1.48%

Volatility

NDIV vs. HAP - Volatility Comparison

Amplify Natural Resources Dividend Income ETF (NDIV) has a higher volatility of 5.04% compared to VanEck Natural Resources ETF (HAP) at 4.08%. This indicates that NDIV's price experiences larger fluctuations and is considered to be riskier than HAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NDIVHAPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.04%

4.08%

+0.96%

Volatility (6M)

Calculated over the trailing 6-month period

13.65%

12.98%

+0.67%

Volatility (1Y)

Calculated over the trailing 1-year period

19.52%

15.67%

+3.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.88%

18.21%

+2.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.88%

19.67%

+1.21%

NDIV vs. HAP - Expense Ratio Comparison

NDIV has a 0.59% expense ratio, which is higher than HAP's 0.42% expense ratio.

Dividends

NDIV vs. HAP - Dividend Comparison

NDIV's dividend yield for the trailing twelve months is around 7.68%, more than HAP's 1.92% yield.

PositionTTM20252024202320222021202020192018201720162015
HAP
VanEck Natural Resources ETF		1.92%2.27%2.65%3.27%3.28%2.16%2.45%2.80%2.85%2.02%1.99%3.00%
NDIV
Amplify Natural Resources Dividend Income ETF		7.68%5.64%5.88%7.37%1.69%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

NDIV and HAP 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.

NDIV has higher volatility (5.04%) compared to HAP (4.08%). In terms of maximum drawdown, NDIV dropped -19.73% vs HAP's -50.99%.

On 3-year performance, NDIV leads with 15.74% vs 14.98% for HAP. On fees, HAP is cheaper at 0.42% per year. On volatility, HAP has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, NDIV has performed better with a 15.74% return vs 14.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HAP is cheaper with a 0.42% expense ratio, compared with 0.59% for NDIV.

NDIV has the higher dividend yield at 7.68%, compared with 1.92% for HAP.

NDIV tracks EQM Natural Resources Dividend Income Index, while HAP tracks MarketVector Global Natural Resources Index. They also come from different issuers: Amplify and VanEck. Their fees differ too: 0.59% for NDIV and 0.42% for HAP.

HAP currently has the higher Sharpe Ratio (2.48 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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