HAP vs SLX
VanEck Natural Resources ETF vs VanEck Steel ETF
Which is better, HAP or SLX?
Each has led over a different period.
HAP has a lower expense ratio. HAP led over the full window, SLX over 1Y, 3Y and 5Y. HAP is less concentrated, with 36.9% of the fund in its ten largest positions against 56.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HAP | SLX |
|---|---|---|
| Expense Ratio | 0.41%Best | 0.55% |
| AUM | $335M | $159M |
| Dividend Yield | 1.87% | 1.28% |
| Holdings | 131 | 80 |
| YTD Return | +21.80%Best | +18.57% |
| 1Y Return | +33.46% | +39.38%Best |
| 3Y Return (annualized) | +17.08% | +19.12%Best |
| 5Y Return (annualized) | +11.74% | +15.93%Best |
| Volatility (annualized) | 20.2%Best | 33.1% |
| Max Drawdown | -50.7%Best | -76.0% |
| $10,000 over 5 years | $17,420 | $20,940Best |
| Top 10 Weight | 36.9%Best | 56.6% |
| Fund Family | VanEck | VanEck |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Aug 29, 2008 | Oct 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Sep 3, 2008 to Oct 14, 2026 (18.1 years).
HAP vs SLX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 18.1 years both funds cover.
HAP vs SLX Performance
VanEck Natural Resources ETF (HAP) is an ETF from VanEck and VanEck Steel ETF (SLX) is an ETF from VanEck. Over the past year HAP returned +33.46% while SLX returned +39.38%. Year to date, HAP is up 21.80% versus a gain of 18.57% for SLX.
Over three years, HAP compounded at +17.08% per year against +19.12% for SLX; over five years the annualized figures are +11.74% and +15.93% respectively. Across the full 18-year window we track, HAP has the edge at +6.07% annualized vs +4.96%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SLX has been the more volatile fund, with annualized monthly volatility of 33.1% compared with 20.2% for HAP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -50.7% for HAP and -76.0% for SLX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HAP charges 0.41% per year while SLX charges 0.55%. On a $10,000 position that is $41 vs $55 annually, a gap of $14 per year that compounds over a long holding period. On income, HAP currently yields 1.87% against 1.28% for SLX.
Holdings Overlap
9.3% of HAP's money is in holdings SLX also owns. 61.0% of SLX's money is in holdings HAP also owns.
The two portfolios partly overlap.
11 positions in common, counted across the 134 positions we hold weights for in HAP and 39 in SLX, against full books of 131 and 80.
What only one of them owns
Our book lists 3 positions for SLX that do not appear in our book for HAP (4.2% of the fund), and 49 for HAP that do not appear in SLX (52.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in HAP | Weight in SLX | Difference |
|---|---|---|---|
| BHP:AUBhp Group Ltd | 2.96% | 7.22% | 4.26% |
| RIO:LNRio Tinto Plc | 1.71% | 7.12% | 5.41% |
| VALE:BVVale Sa Sponsored Adr | 0.83% | 6.62% | 5.79% |
| NUENucor Corp. | 0.66% | 6.41% | 5.75% |
| MT:LUArcelormittal Ordinary Shares | 0.58% | 5.66% | 5.08% |
| STLDSteel Dynamics Inc | 0.48% | 5.01% | 4.53% |
| RIO:AURio Tinto Finance Plc | 0.57% | 4.78% | 4.21% |
| RSReliance Steel & Aluminum Co. | 0.32% | 4.77% | 4.45% |
| 5401:JPNippon Steel Corp | 0.42% | 4.60% | 4.18% |
| PKX:KRPosco Adr | 0.36% | 4.42% | 4.06% |
61.0% of SLX is already inside HAP.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HAP or SLX?
HAP has an expense ratio of 0.41% while SLX charges 0.55%. HAP is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, HAP or SLX?
Over the past year HAP returned +33.46% vs +39.38% for SLX, so SLX leads on 1-year performance. Over the longest common window we track (18 years), HAP annualized +6.07% vs +4.96% for SLX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HAP or SLX?
SLX has been the more volatile fund at 33.1% annualized versus 20.2% for HAP. Worst drawdown: HAP -50.7% vs SLX -76.0%.
Should I hold both HAP and SLX?
HAP and SLX have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between HAP and SLX?
61.0% of SLX's money is in holdings HAP also owns. 61.0% of SLX's is in holdings HAP also owns. They hold 11 positions in common, counted across the 134 positions we hold weights for in HAP and 39 in SLX.
Which pays a higher dividend, HAP or SLX?
HAP yields 1.87% while SLX yields 1.28%, so HAP currently pays the higher dividend yield.
Is SLX better than HAP?
HAP has a lower expense ratio. HAP led over the full window, SLX over 1Y, 3Y and 5Y. HAP is less concentrated, with 36.9% of the fund in its ten largest positions against 56.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.