What Is the HGER ETF? Returns, Expense Ratio, Holdings and Alternative ETFs at a Glance
The Harbor Commodity All-Weather Strategy ETF (HGER) tracks a commodity index that weighs inflation sensitivity together with futures roll costs. Investors looking to broaden their real-asset exposure consider it after comparing the commodity ETF outlook, distribution structure and fee level.
SubscribeWhat Is the Harbor Commodity All-Weather Strategy ETF?
This is a broad commodity ETF that tracks the Quantix Commodity Index. It holds energy, metals and agricultural futures, but it differs from typical commodity index products in that it adjusts weights by evaluating each commodity's inflation sensitivity and futures curve condition together.
It suits asset allocation investors who want to add real-asset exposure beyond stocks and bonds to prepare for periods of rising prices.
The ETF is managed by Harbor Capital using a passive (index-tracking) approach.
How Does the Harbor Commodity All-Weather Strategy ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Quantix Commodity Index |
| Management Style | Passive (index tracking, uses swaps) |
| Rebalancing Frequency | Follows the monthly index calculation rules |
| Distribution Frequency | Annual distribution |
| Collateral Assets | Short-term US Treasuries |
| Total Expense Ratio | 0.68% |
The fund invests, through a subsidiary, in swaps that deliver the index return, and it holds cash beyond margin requirements as collateral in short-term Treasuries. The index scores each commodity's price sensitivity and futures holding cost, favoring backwardation segments and reducing weights in commodities with heavy contango drag.
- Inflation sensitivity is built directly into weight decisions
- Futures roll costs are scored to reduce structural losses
- Cash collateral is held in short-term Treasuries to earn interest income
Harbor Commodity All-Weather Strategy ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $4.9B, and the Expense Ratio is an annual 0.68%.
Even within the broad commodity category, long-term performance diverges depending on how roll yield is managed. It is more practical to look at the fee burden and the index rules together.
Harbor Commodity All-Weather Strategy ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeCommodity prices swing widely with the economic cycle, the direction of the dollar and supply disruptions. The fund has tended to hold up relatively well when inflation pressure rises, while pullbacks deepen when demand slows.
Money flows into commodity ETFs when inflation worries grow and flows back out when price pressure eases, and this cycle repeats. Because asset allocation demand in this category is steady, the direction of inflows and outflows splits sharply depending on the market phase.
Harbor Commodity All-Weather Strategy ETF Strengths and Weaknesses
The index design that manages roll costs is a strength, while the volatility of commodity prices themselves and a relatively high fee burden are weaknesses.
💪 Key Strengths
⚠️ Points to Watch
Harbor Commodity All-Weather Strategy ETF Alternative ETFs and Related Products
Even among products that follow broad commodity indexes, index rules, fee levels and fund size differ. It helps to first separate designs that aim to improve roll yield from those that simply track the front-month contract. Beyond the table, it is also worth comparing PDBC, which does not issue a K-1, the actively managed FTGC, and the rules-based broad commodity products BCI and USCI.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 DBC | Invesco DB Commodity Index Tracking Fund | $33.61 | -0.3% | $1.9B | 0.84% | - | +52.9% |
 COMT | iShares GSCI Commodity Dynamic Roll Strategy ETF | $38.56 | -0.3% | $1.4B | 0.48% | 5% | +43.6% |
 CERY | SPDR Enhanced Roll Yield Commodity | $39.72 | -0.4% | $1.3B | 0.28% | 3.59% | +36.3% |
 GSG | iShares S&P GSCI Commodity Indexed Trust | $37.02 | -0.2% | $1.1B | 0.75% | - | +60.6% |
 DJP | iPath Bloomberg Commodity Total Return ETN | $51.28 | -0.6% | $1.0B | 0.70% | - | +41.2% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 USLM | United States Lime & Minerals Inc | 0.73% | $111.61 | -2.0% | $3.2B | 23.9 | 0.22% |
 UAMY | United States Antimony Corp | 0.30% | $2.98 | -5.7% | $446.0M | - | - |
 BNO | United States Brent Oil Fund LP | 0.44% | $71.39 | +0.9% | $0.0M | - | - |
Harbor Commodity All-Weather Strategy ETF Investor Checkpoints
Commodity ETFs differ in nature from equity products, so they need to be checked before investing. It is best to review the index rules, cost structure, distribution method and tax treatment in order, and judge whether they fit your purpose for holding.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 📊 Index Rules | How inflation sensitivity and roll costs are reflected | Rules-based adjustment |
| 💵 Fee Level | Cumulative cost impact over a long holding period | Around the commodity category average |
| 💰 Distributions | Distribution frequency and amount volatility | Annual distribution |
| 🧾 Tax and Paperwork | Tax treatment of futures and swap structure products | Advance verification needed |
During sharp commodity price declines, losses show up before diversification benefits do. If the futures curve turns unfavorable, even the index rules cannot fully prevent the cost burden.
We recommend considering it as a supplementary asset for inflation response and diversification. Limit its weight to a portion of the portfolio, and make your decision after comparing fees and index rules with alternative products.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of September 3, 2026.
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