PPI vs. MAPP

Last updated Aug 5, 2026

PPI (Astoria Real Assets ETF) and MAPP (Harbor Multi-Asset Explorer ETF) are both Global Allocation funds. Both are actively managed. Over the past year, PPI returned 27.12% vs 16.06% for MAPP. Their 0.76 correlation means they have sometimes moved together and sometimes differently. PPI charges 0.58%/yr vs 0.92%/yr for MAPP.

Performance

PPI vs. MAPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Astoria Real Assets ETF (PPI) and Harbor Multi-Asset Explorer ETF (MAPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPI achieves a 15.76% return, which is significantly higher than MAPP's 6.59% return.

PPI

• 1D: 0.45%
• 1M: 1.48%
• 6M: 7.16%
• YTD: 15.76%
• 1Y: 27.12%
• 3Y*: 18.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.41%

MAPP

• 1D: 1.73%
• 1M: 1.15%
• 6M: 3.64%
• YTD: 6.59%
• 1Y: 16.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.15%

*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)
MAPP Harbor Multi-Asset Explorer ETF	$8.44K	$12.79K	$10.79K
PPI Astoria Real Assets ETF	$458.77K	$622.77K	$642.93K

PPI vs. MAPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PPI Astoria Real Assets ETF	15.76%	30.05%	6.43%	6.36%
MAPP Harbor Multi-Asset Explorer ETF	6.59%	18.67%	14.25%	4.01%

Correlation

The correlation between PPI and MAPP is 0.76, 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.	0.76
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.76

The correlation between PPI and MAPP has been stable across timeframes, ranging from 0.76 to 0.76 - a consistent structural relationship.

Return for Risk

PPI vs. MAPP — Risk / Return Rank

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

PPI

PPI Risk / Return Rank: 64
PPI Sharpe Ratio Rank: 61
PPI Sortino Ratio Rank: 57
PPI Omega Ratio Rank: 56
PPI Calmar Ratio Rank: 83
PPI Martin Ratio Rank: 63

MAPP

MAPP Risk / Return Rank: 58
MAPP Sharpe Ratio Rank: 55
MAPP Sortino Ratio Rank: 54
MAPP Omega Ratio Rank: 54
MAPP Calmar Ratio Rank: 66
MAPP Martin Ratio Rank: 62

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.

PPI vs. MAPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Astoria Real Assets ETF (PPI) and Harbor Multi-Asset Explorer ETF (MAPP). 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.

	PPI	MAPP	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.52	+0.11
Sortino ratio: Return per unit of downside risk	2.22	2.16	+0.06
Omega ratio: Gain probability vs. loss probability	1.28	1.28	+0.01
Calmar ratio: Return relative to maximum drawdown	3.41	2.61	+0.80
Martin ratio: Return relative to average drawdown	8.54	8.42	+0.12

PPI vs. MAPP - Sharpe Ratio Comparison

The current PPI Sharpe Ratio is 1.63, which is comparable to the MAPP Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of PPI and MAPP, 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

PPI vs. MAPP - Drawdown Comparison

The maximum PPI drawdown since its inception was -24.54%, which is greater than MAPP's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for PPI and MAPP.

Drawdown Indicators

	PPI	MAPP	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-12.92%	-11.62%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-6.17%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	—	—
Current Drawdown Current decline from peak	-3.90%	-1.27%	-2.63%
Average Drawdown Average peak-to-trough decline	-6.43%	-1.45%	-4.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	1.91%	+1.28%

Volatility

PPI vs. MAPP - Volatility Comparison

Astoria Real Assets ETF (PPI) and Harbor Multi-Asset Explorer ETF (MAPP) have volatilities of 4.24% and 4.22%, 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.

Volatility by Period

	PPI	MAPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	4.22%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	8.89%	+3.44%
Volatility (1Y) Calculated over the trailing 1-year period	16.71%	10.63%	+6.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.94%	11.07%	+7.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	11.07%	+7.87%

PPI vs. MAPP - Expense Ratio Comparison

PPI has a 0.58% expense ratio, which is lower than MAPP's 0.92% expense ratio.

Dividends

PPI vs. MAPP - Dividend Comparison

PPI's dividend yield for the trailing twelve months is around 1.30%, less than MAPP's 2.78% yield.

Position	TTM	2025	2024	2023	2022
MAPP Harbor Multi-Asset Explorer ETF	2.78%	2.96%	2.41%	2.78%	0.00%
PPI Astoria Real Assets ETF	1.30%	1.06%	0.60%	2.87%	2.40%

Frequently Asked Questions

Can I hold both PPI and MAPP in my portfolio?

PPI and MAPP have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPI or MAPP?

PPI has higher volatility (4.24%) compared to MAPP (4.22%). In terms of maximum drawdown, PPI dropped -24.54% vs MAPP's -12.92%.

Which ETF is better, PPI or MAPP?

On 1-year performance, PPI leads with 27.12% vs 16.06% for MAPP. On fees, PPI is cheaper at 0.58% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPI or MAPP?

Over the 1-year period, PPI has performed better with a 27.12% return vs 16.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPI or MAPP?

PPI is cheaper with a 0.58% expense ratio, compared with 0.92% for MAPP.

Which ETF pays a higher dividend yield, PPI or MAPP?

MAPP has the higher dividend yield at 2.78%, compared with 1.30% for PPI.

What is the main difference between PPI and MAPP?

They also come from different issuers: AXS and Harbor. Their fees differ too: 0.58% for PPI and 0.92% for MAPP.

Which has better risk-adjusted returns?

PPI currently has the higher Sharpe Ratio (1.63 vs 1.52), 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.