HGER vs SPY
Harbor Commodity All Weather Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. HGER delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | HGER | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.09% | |
| AUM | $4.0B | $821.1B | |
| Dividend Yield | 5.48% | 1.01% | |
| Holdings | 49 | 505 | |
| YTD Return | +42.53% | +12.68% | |
| 1Y Return | +53.13% | +21.82% | |
| 3Y Return (annualized) | +22.85% | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 13.8% | 15.3% | |
| Max Drawdown | -23.3% | -56.5% | |
| Fund Family | Harbor Funds | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Feb 9, 2022 | Jan 22, 1993 |
HGER vs SPY Performance
Harbor Commodity All Weather Strategy ETF (HGER) is a ETF from Harbor Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HGER returned +53.13% while SPY returned +21.82%. Year to date, HGER is up 42.53% versus a gain of 12.68% for SPY.
Over three years, HGER compounded at +22.85% per year against +21.98% for SPY. Across the full 5-year window we track, HGER has the edge at +17.58% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.8% for HGER. 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 -23.3% for HGER and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.21. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HGER charges 0.68% per year while SPY charges 0.09%. On a $10,000 position that is $68 vs $9 annually, a gap of $59 per year that compounds over a long holding period. On income, HGER currently yields 5.48% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, HGER or SPY?
HGER has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $59 per year of difference.
Which performed better, HGER or SPY?
Over the past year HGER returned +53.13% vs +21.82% for SPY, so HGER leads on 1-year performance. Over the longest common window we track (5 years), HGER annualized +17.58% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, HGER or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.8% for HGER. Worst drawdown: HGER -23.3% vs SPY -56.5%.
Should I hold both HGER and SPY?
HGER and SPY have a monthly-return correlation of 0.21, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, HGER or SPY?
HGER yields 5.48% while SPY yields 1.01%, so HGER currently pays the higher dividend yield.
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