TEC vs. HDV

Last updated Jun 24, 2026

TEC (Harbor Transformative Technologies ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - TEC is a Technology Equities fund actively managed by Harbor, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. TEC is actively managed, while HDV is passively managed. Over the past year, TEC returned 33.60% vs 21.06% for HDV. At a correlation of -0.12, they often move in opposite directions. TEC charges 0.69%/yr vs 0.08%/yr for HDV.

Performance

TEC vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Transformative Technologies ETF (TEC) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TEC having a 13.69% return and HDV slightly higher at 14.07%.

TEC

• 1D: -2.94%
• 1M: -0.28%
• YTD: 13.69%
• 6M: 12.37%
• 1Y: 33.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDV

• 1D: 1.33%
• 1M: -1.35%
• YTD: 14.07%
• 6M: 14.08%
• 1Y: 21.06%
• 3Y*: 15.48%
• 5Y*: 11.09%
• 10Y*: 9.45%

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

TEC vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025
TEC Harbor Transformative Technologies ETF	13.69%	44.21%
HDV iShares Core High Dividend ETF	14.07%	11.36%

Correlation

The correlation between TEC and HDV is -0.18, 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	-0.18
Correlation (All Time) Calculated using the full available price history since Apr 17, 2025	-0.12

TEC vs. HDV - Sectors Allocation Comparison

Sectors	TEC	HDV
Technology	72.3%	0.2%
Communication Services	12.5%	5.7%
Consumer Cyclical	8.9%	9.2%
Healthcare	3.3%	22.6%
Utilities	1.2%	8.1%
Financial Services	0.9%	4.7%
Industrials	0.8%	3.5%
Basic Materials	-	0.8%
Consumer Defensive	-	24.5%
Energy	-	20.2%
Real Estate	-	-

Return for Risk

TEC vs. HDV — Risk / Return Rank

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

TEC

TEC Risk / Return Rank: 44
TEC Sharpe Ratio Rank: 49
TEC Sortino Ratio Rank: 45
TEC Omega Ratio Rank: 45
TEC Calmar Ratio Rank: 42
TEC Martin Ratio Rank: 40

HDV

HDV Risk / Return Rank: 70
HDV Sharpe Ratio Rank: 68
HDV Sortino Ratio Rank: 73
HDV Omega Ratio Rank: 62
HDV Calmar Ratio Rank: 81
HDV Martin Ratio Rank: 64

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.

TEC vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Transformative Technologies ETF (TEC) and iShares Core High Dividend ETF (HDV). 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.

	TEC	HDV	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.13	-0.57
Sortino ratio: Return per unit of downside risk	2.09	3.13	-1.03
Omega ratio: Gain probability vs. loss probability	1.27	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	1.93	4.09	-2.16
Martin ratio: Return relative to average drawdown	5.84	11.19	-5.35

TEC vs. HDV - Sharpe Ratio Comparison

The current TEC Sharpe Ratio is 1.56, which is comparable to the HDV Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of TEC and HDV, 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

TEC vs. HDV - Drawdown Comparison

The maximum TEC drawdown since its inception was -17.50%, smaller than the maximum HDV drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for TEC and HDV.

Drawdown Indicators

	TEC	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-37.04%	+19.54%
Max Drawdown (1Y) Largest decline over 1 year	-17.50%	-5.18%	-12.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.04%	—
Current Drawdown Current decline from peak	-6.74%	-1.35%	-5.39%
Average Drawdown Average peak-to-trough decline	-3.54%	-3.08%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.77%	1.89%	+3.88%

Volatility

TEC vs. HDV - Volatility Comparison

Harbor Transformative Technologies ETF (TEC) has a higher volatility of 9.60% compared to iShares Core High Dividend ETF (HDV) at 3.64%. This indicates that TEC's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEC	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.60%	3.64%	+5.96%
Volatility (6M) Calculated over the trailing 6-month period	17.19%	7.61%	+9.58%
Volatility (1Y) Calculated over the trailing 1-year period	21.68%	9.93%	+11.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.97%	12.81%	+9.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.97%	15.73%	+6.24%

TEC vs. HDV - Expense Ratio Comparison

TEC has a 0.69% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

TEC vs. HDV - Dividend Comparison

TEC has not paid dividends to shareholders, while HDV's dividend yield for the trailing twelve months is around 2.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	2.90%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%
TEC Harbor Transformative Technologies ETF	0.00%	0.00%	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 TEC and HDV in my portfolio?

TEC and HDV have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEC or HDV?

TEC has higher volatility (9.60%) compared to HDV (3.64%). In terms of maximum drawdown, TEC dropped -17.50% vs HDV's -37.04%.

Which ETF is better, TEC or HDV?

On 1-year performance, TEC leads with 33.60% vs 21.06% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEC or HDV?

Over the 1-year period, TEC has performed better with a 33.60% return vs 21.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEC or HDV?

HDV is cheaper with a 0.08% expense ratio, compared with 0.69% for TEC.

Which ETF pays a higher dividend yield, TEC or HDV?

HDV has the higher dividend yield at 2.90%, compared with 0.00% for TEC.

What is the main difference between TEC and HDV?

TEC is categorized as Technology Equities, while HDV is Dividend. They also come from different issuers: Harbor and iShares. Their fees differ too: 0.69% for TEC and 0.08% for HDV.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (2.13 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.