PWS vs. HGER

Last updated Jun 23, 2026

PWS (Pacer WealthShield ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both exchange-traded funds - PWS is a Diversified Portfolio fund tracking the Pacer WealthShield Index, while HGER is a Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, PWS returned 7.64%/yr vs 18.12%/yr for HGER. At a 0.08 correlation, their price movements are largely independent. PWS charges 0.60%/yr vs 0.68%/yr for HGER.

Performance

PWS vs. HGER - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer WealthShield ETF (PWS) and Harbor Commodity All-Weather Strategy ETF (HGER). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWS achieves a -0.63% return, which is significantly lower than HGER's 19.14% return.

PWS

• 1D: 1.22%
• 1M: 0.46%
• YTD: -0.63%
• 6M: -0.98%
• 1Y: 10.24%
• 3Y*: 7.64%
• 5Y*: 1.34%
• 10Y*: —

HGER

• 1D: -1.14%
• 1M: -8.00%
• YTD: 19.14%
• 6M: 17.67%
• 1Y: 24.73%
• 3Y*: 18.12%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PWS vs. HGER - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PWS Pacer WealthShield ETF	-0.63%	8.05%	14.01%	-3.58%	-6.06%
HGER Harbor Commodity All-Weather Strategy ETF	19.14%	20.08%	9.25%	1.93%	9.66%

Correlation

The correlation between PWS and HGER is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022	0.08

The correlation between PWS and HGER shifts across timeframes, from -0.10 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PWS vs. HGER — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PWS

PWS Risk / Return Rank: 26
PWS Sharpe Ratio Rank: 26
PWS Sortino Ratio Rank: 24
PWS Omega Ratio Rank: 24
PWS Calmar Ratio Rank: 31
PWS Martin Ratio Rank: 26

HGER

HGER Risk / Return Rank: 44
HGER Sharpe Ratio Rank: 43
HGER Sortino Ratio Rank: 40
HGER Omega Ratio Rank: 43
HGER Calmar Ratio Rank: 44
HGER Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PWS vs. HGER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer WealthShield ETF (PWS) 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.

	PWS	HGER	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.46	-0.57
Sortino ratio: Return per unit of downside risk	1.31	2.00	-0.70
Omega ratio: Gain probability vs. loss probability	1.17	1.27	-0.11
Calmar ratio: Return relative to maximum drawdown	1.49	2.13	-0.64
Martin ratio: Return relative to average drawdown	3.46	8.55	-5.10

PWS vs. HGER - Sharpe Ratio Comparison

The current PWS Sharpe Ratio is 0.89, which is lower than the HGER Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of PWS and HGER, 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

PWS vs. HGER - Drawdown Comparison

The maximum PWS drawdown since its inception was -24.93%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for PWS and HGER.

Drawdown Indicators

	PWS	HGER	Difference
Max Drawdown Largest peak-to-trough decline	-24.93%	-23.31%	-1.62%
Max Drawdown (1Y) Largest decline over 1 year	-6.88%	-11.65%	+4.77%
Max Drawdown (3Y) Largest decline over 3 years	-10.47%	-11.65%	+1.18%
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	—	—
Current Drawdown Current decline from peak	-4.43%	-11.65%	+7.22%
Average Drawdown Average peak-to-trough decline	-9.09%	-7.67%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.16%	-0.19%

Volatility

PWS vs. HGER - Volatility Comparison

The current volatility for Pacer WealthShield ETF (PWS) is 3.08%, while Harbor Commodity All-Weather Strategy ETF (HGER) has a volatility of 3.61%. This indicates that PWS experiences smaller price fluctuations and is considered to be less risky than HGER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWS	HGER	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	3.61%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	7.49%	14.89%	-7.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.57%	17.02%	-5.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.87%	17.59%	-5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.37%	17.59%	-3.22%

PWS vs. HGER - Expense Ratio Comparison

PWS has a 0.60% expense ratio, which is lower than HGER's 0.68% expense ratio.

Dividends

PWS vs. HGER - Dividend Comparison

PWS's dividend yield for the trailing twelve months is around 1.32%, less than HGER's 5.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HGER Harbor Commodity All-Weather Strategy ETF	5.95%	7.09%	3.28%	7.24%	0.64%	0.00%	0.00%	0.00%	0.00%
PWS Pacer WealthShield ETF	1.32%	1.59%	1.33%	2.21%	1.45%	0.94%	0.53%	1.77%	1.16%

Frequently Asked Questions

Can I hold both PWS and HGER in my portfolio?

PWS and HGER have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWS or HGER?

HGER has higher volatility (3.61%) compared to PWS (3.08%). In terms of maximum drawdown, PWS dropped -24.93% vs HGER's -23.31%.

Which ETF is better, PWS or HGER?

On 3-year performance, HGER leads with 18.12% vs 7.64% for PWS. On fees, PWS is cheaper at 0.60% per year. On volatility, PWS has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWS or HGER?

Over the 3-year period, HGER has performed better with a 18.12% return vs 7.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWS or HGER?

PWS is cheaper with a 0.60% expense ratio, compared with 0.68% for HGER.

Which ETF pays a higher dividend yield, PWS or HGER?

HGER has the higher dividend yield at 5.95%, compared with 1.32% for PWS.

What is the main difference between PWS and HGER?

PWS is categorized as Diversified Portfolio, while HGER is Commodities. PWS tracks Pacer WealthShield Index, while HGER tracks Quantix Commodity Index - Benchmark TR Net. They also come from different issuers: Pacer and Harbor. Their fees differ too: 0.60% for PWS and 0.68% for HGER.

Which has better risk-adjusted returns?

HGER currently has the higher Sharpe Ratio (1.46 vs 0.89), 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.