UCIB vs. HGER
UCIB (ETRACS CMCI Total Return ETN Series B) and HGER (Harbor Commodity All-Weather Strategy ETF) are both Commodities funds - UCIB tracks the UBS Bloomberg CMCI Index while HGER tracks the Quantix Commodity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, UCIB returned 14.28%/yr vs 20.87%/yr for HGER. A 0.59 correlation means they provide meaningful diversification when combined. UCIB charges 0.55%/yr vs 0.68%/yr for HGER.
Performance
UCIB vs. HGER - Performance Comparison
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Returns By Period
In the year-to-date period, UCIB achieves a 23.71% return, which is significantly lower than HGER's 27.03% return.
UCIB
- 1D
- 2.52%
- 1M
- 0.75%
- YTD
- 23.71%
- 6M
- 24.60%
- 1Y
- 32.69%
- 3Y*
- 14.28%
- 5Y*
- 12.32%
- 10Y*
- 10.57%
HGER
- 1D
- -0.85%
- 1M
- -3.84%
- YTD
- 27.03%
- 6M
- 26.30%
- 1Y
- 39.42%
- 3Y*
- 20.87%
- 5Y*
- —
- 10Y*
- —
UCIB vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 23.71% | 8.97% | 6.58% | -2.26% | 7.29% |
HGER Harbor Commodity All-Weather Strategy ETF | 27.03% | 20.08% | 9.25% | 1.93% | 9.77% |
Correlation
The correlation between UCIB and HGER is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022 | 0.59 |
The correlation between UCIB and HGER shifts across timeframes, from 0.51 (3 years) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UCIB vs. HGER — Risk / Return Rank
UCIB
HGER
UCIB vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS CMCI Total Return ETN Series B (UCIB) 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.
| UCIB | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.43 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 4.90 | -2.78 |
| Martin ratioReturn relative to average drawdown | 7.10 | 16.29 | -9.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UCIB | HGER | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 2.35 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.89 | -0.50 |
Drawdowns
UCIB vs. HGER - Drawdown Comparison
The maximum UCIB drawdown since its inception was -36.94%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for UCIB and HGER.
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Drawdown Indicators
| UCIB | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.94% | -23.31% | -13.63% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -8.09% | -7.44% |
Max Drawdown (3Y)Largest decline over 3 years | -16.18% | -8.84% | -7.34% |
Max Drawdown (5Y)Largest decline over 5 years | -20.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.94% | — | — |
Current DrawdownCurrent decline from peak | -13.40% | -5.80% | -7.60% |
Average DrawdownAverage peak-to-trough decline | -9.06% | -7.65% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.62% | 2.43% | +2.19% |
Volatility
UCIB vs. HGER - Volatility Comparison
ETRACS CMCI Total Return ETN Series B (UCIB) has a higher volatility of 16.26% compared to Harbor Commodity All-Weather Strategy ETF (HGER) at 4.06%. This indicates that UCIB's price experiences larger fluctuations and is considered to be riskier than HGER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCIB | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.26% | 4.06% | +12.20% |
Volatility (6M)Calculated over the trailing 6-month period | 31.13% | 14.55% | +16.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.80% | 16.90% | +14.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.76% | 17.61% | +9.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.23% | 17.61% | +5.62% |
UCIB vs. HGER - Expense Ratio Comparison
UCIB has a 0.55% expense ratio, which is lower than HGER's 0.68% expense ratio.
Dividends
UCIB vs. HGER - Dividend Comparison
UCIB has not paid dividends to shareholders, while HGER's dividend yield for the trailing twelve months is around 5.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 5.58% | 7.09% | 3.28% | 7.24% | 0.64% |
UCIB ETRACS CMCI Total Return ETN Series B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCIB and HGER have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCIB has higher volatility (16.26%) compared to HGER (4.06%). In terms of maximum drawdown, UCIB dropped -36.94% vs HGER's -23.31%.
On 3-year performance, HGER leads with 20.87% vs 14.28% for UCIB. On fees, UCIB is cheaper at 0.55% per year. On volatility, HGER has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HGER has performed better with a 20.87% return vs 14.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCIB is cheaper with a 0.55% expense ratio, compared with 0.68% for HGER.
HGER has the higher dividend yield at 5.58%, compared with 0.00% for UCIB.
UCIB tracks UBS Bloomberg CMCI Index, while HGER tracks Quantix Commodity Index - Benchmark TR Net. They also come from different issuers: UBS and Harbor. Their fees differ too: 0.55% for UCIB and 0.68% for HGER.
HGER currently has the higher Sharpe Ratio (2.35 vs 1.03), 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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