SIFI vs. EMES

Last updated Jun 3, 2026

SIFI (Harbor Scientific Alpha Income ETF) and EMES (Harbor Emerging Markets Select ETF) are both exchange-traded funds - SIFI is a Multisector Bonds fund actively managed by Harbor, while EMES is a Emerging Markets Diversified fund actively managed by Harbor. Both are actively managed. Over the past year, SIFI returned 7.56% vs 49.02% for EMES. At a 0.39 correlation, their price movements are largely independent. SIFI charges 0.50%/yr vs 0.65%/yr for EMES.

Performance

SIFI vs. EMES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Scientific Alpha Income ETF (SIFI) and Harbor Emerging Markets Select ETF (EMES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIFI achieves a 1.27% return, which is significantly lower than EMES's 29.92% return.

SIFI

• 1D: 0.01%
• 1M: 0.30%
• YTD: 1.27%
• 6M: 1.70%
• 1Y: 7.56%
• 3Y*: 7.19%
• 5Y*: —
• 10Y*: —

EMES

• 1D: 0.32%
• 1M: 7.90%
• YTD: 29.92%
• 6M: 31.26%
• 1Y: 49.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIFI vs. EMES - Yearly Performance Comparison

	2026 (YTD)	2025
SIFI Harbor Scientific Alpha Income ETF	1.27%	6.70%
EMES Harbor Emerging Markets Select ETF	29.92%	12.63%

Correlation

The correlation between SIFI and EMES is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since May 16, 2025	0.39

SIFI vs. EMES - Sectors Allocation Comparison

Sectors	SIFI	EMES
Industrials	16.2%	16.3%
Technology	15.7%	42.9%
Consumer Cyclical	11.8%	14.8%
Energy	7.9%	-
Real Estate	4.8%	3.0%
Financial Services	4.4%	14.2%
Healthcare	3.9%	1.1%
Communication Services	3.0%	4.7%
Consumer Defensive	2.9%	3.1%
Utilities	1.9%	-
Basic Materials	0.7%	-

Return for Risk

SIFI vs. EMES — Risk / Return Rank

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

SIFI

SIFI Risk / Return Rank: 66
SIFI Sharpe Ratio Rank: 67
SIFI Sortino Ratio Rank: 75
SIFI Omega Ratio Rank: 71
SIFI Calmar Ratio Rank: 54
SIFI Martin Ratio Rank: 61

EMES

EMES Risk / Return Rank: 72
EMES Sharpe Ratio Rank: 70
EMES Sortino Ratio Rank: 65
EMES Omega Ratio Rank: 71
EMES Calmar Ratio Rank: 76
EMES Martin Ratio Rank: 77

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.

SIFI vs. EMES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Scientific Alpha Income ETF (SIFI) and Harbor Emerging Markets Select ETF (EMES). 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.

	SIFI	EMES	Difference
Sharpe ratio Return per unit of total volatility	2.24	2.36	-0.12
Sortino ratio Return per unit of downside risk	3.43	3.10	+0.33
Omega ratio Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio Return relative to maximum drawdown	2.74	3.86	-1.12
Martin ratio Return relative to average drawdown	11.23	15.03	-3.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIFI vs. EMES - Sharpe Ratio Comparison

The current SIFI Sharpe Ratio is 2.24, which is comparable to the EMES Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of SIFI and EMES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIFI	EMES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.36	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	2.16	-1.68

Drawdowns

SIFI vs. EMES - Drawdown Comparison

The maximum SIFI drawdown since its inception was -14.68%, which is greater than EMES's maximum drawdown of -12.98%. Use the drawdown chart below to compare losses from any high point for SIFI and EMES.

Drawdown Indicators

	SIFI	EMES	Difference
Max Drawdown Largest peak-to-trough decline	-14.68%	-12.98%	-1.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-12.98%	+10.27%
Max Drawdown (3Y) Largest decline over 3 years	-3.46%	—	—
Current Drawdown Current decline from peak	-0.06%	0.00%	-0.06%
Average Drawdown Average peak-to-trough decline	-4.83%	-2.07%	-2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	3.34%	-2.68%

Volatility

SIFI vs. EMES - Volatility Comparison

The current volatility for Harbor Scientific Alpha Income ETF (SIFI) is 1.03%, while Harbor Emerging Markets Select ETF (EMES) has a volatility of 8.55%. This indicates that SIFI experiences smaller price fluctuations and is considered to be less risky than EMES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIFI	EMES	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	8.55%	-7.52%
Volatility (6M) Calculated over the trailing 6-month period	2.48%	18.26%	-15.78%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	20.85%	-17.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	20.55%	-15.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	20.55%	-15.61%

SIFI vs. EMES - Expense Ratio Comparison

SIFI has a 0.50% expense ratio, which is lower than EMES's 0.65% expense ratio.

Dividends

SIFI vs. EMES - Dividend Comparison

SIFI's dividend yield for the trailing twelve months is around 6.44%, more than EMES's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021
EMES Harbor Emerging Markets Select ETF	0.41%	0.53%	0.00%	0.00%	0.00%	0.00%
SIFI Harbor Scientific Alpha Income ETF	6.44%	6.57%	5.87%	5.71%	3.88%	0.86%

Frequently Asked Questions

Can I hold both SIFI and EMES in my portfolio?

SIFI and EMES have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIFI or EMES?

EMES has higher volatility (8.55%) compared to SIFI (1.03%). In terms of maximum drawdown, SIFI dropped -14.68% vs EMES's -12.98%.

Which ETF is better, SIFI or EMES?

On 1-year performance, EMES leads with 49.02% vs 7.56% for SIFI. On fees, SIFI is cheaper at 0.50% per year. On volatility, SIFI has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIFI or EMES?

Over the 1-year period, EMES has performed better with a 49.02% return vs 7.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIFI or EMES?

SIFI is cheaper with a 0.50% expense ratio, compared with 0.65% for EMES.

Which ETF pays a higher dividend yield, SIFI or EMES?

SIFI has the higher dividend yield at 6.44%, compared with 0.41% for EMES.

What is the main difference between SIFI and EMES?

SIFI is categorized as Multisector Bonds, while EMES is Emerging Markets Diversified. Their fees differ too: 0.50% for SIFI and 0.65% for EMES.

Which has better risk-adjusted returns?

EMES currently has the higher Sharpe Ratio (2.36 vs 2.24), 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.