HAPIvsSMAXETF Comparison
ETF 1
HAPI
Harbor Human Capital Factor US Large Cap ETF
VS
Harbor Human Capital Factor US Large Cap ETF (HAPI) belongs to the segment. iShares Large Cap Max Buffer Sep ETF (SMAX) is part of the Options Strategies segment. HAPI's top 3 sector exposures are Technology, Finance and Consumer Non-Cyclicals. In contrast, SMAX's top sector exposures are Technology, Finance and Healthcare. HAPI is less expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.53% for SMAX. HAPI is up 12.29% year-to-date (YTD) with +$6M in YTD flows. SMAX performs worse with 5.38% YTD performance, and -$34M in YTD flows. Run a side-by-side ETF comparison of HAPI and SMAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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HAPI vs SMAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | HAPI SMAX | -0.86%+0.51% | +4.71%+2.24% | +12.29%+5.38% | +16.48%+7.28% | +76.23%n/a | n/an/a |
| Flows | HAPI SMAX | --$1M | --$4M | +$6M-$34M | +$8M+$515K | +$35M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | HAPI SMAX | +10.79%+2.14% | +12.12%+2.77% | +15.04%n/a | n/an/a |
| Max drawdown | HAPI SMAX | -2.99%-0.49% | -7.57%-1.93% | -19.45%n/a | n/an/a |
| Max drawdown duration | HAPI SMAX | 24d14d | 89d44d | 126dn/a | n/an/a |
Trading data
HAPI | SMAX | |
Last sale 9/11/2026 at 2:39 PM | $46.02 | $28.33 |
| Previous close 09/11/2026 | $45.50 | $28.33 |
| Consolidated volume 09/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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SMAX
is actively managed and doesn’t replicate an indexHAPI | SMAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/11/2026 at 2:39 PM
Live
Closed
HAPI | SMAX | |
|---|---|---|
| Last price | $46.02 | $28.33 |
| 1D performance | +1.14% | -0.00% |
| AuM | $501.84 M | $88.41 M |
| E/R | 0.35% | 0.53% |
Characteristics
HAPI | SMAX | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Harbor Capital | iShares |
| Benchmark | Human Capital Factor Large Cap Index | - |
| N° of holdings | 200 | 501 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 12, 2022 | September 30, 2024 |
| ESG | Yes | No |
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Exposure
Countries
HAPI
USA
97.15%
Other
2.85%
SMAX
USA
102.01%
Other
-2.01%
Sectors
HAPI
Technology
44.43%
Finance
13.12%
Consumer Non-Cycl.
11.92%
Industrials
8.61%
Healthcare
8.42%
Other
13.5%
SMAX
Technology
46.23%
Finance
14.48%
Healthcare
9.28%
Consumer Non-Cycl.
9.23%
Industrials
8.09%
Other
12.68%
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Diversification
HAPI
Total weight of top 15 holdings out of 15
50%
SMAX
Total weight of top 15 holdings out of 15
45.4%
Top 15 holdings
Data as of July 31, 2026
HAPI
Apple, Inc.
6.01%
Amazon.com, Inc.
5.46%
Microsoft Corp.
5.18%
Alphabet, Inc.
5.03%
NVIDIA Corp.
4.92%
Meta Platforms, Inc.
3.88%
JPMorgan Chase & Co.
3.26%
Cisco Systems, Inc.
3.24%
Eli Lilly & Co.
2.45%
Netflix, Inc.
2.33%
Chevron Corp.
1.96%
KLA Corp.
1.64%
Mastercard, Inc.
1.61%
Costco Wholesale Corp.
1.56%
Johnson & Johnson
1.45%
SMAX
Apple, Inc.
7.90%
NVIDIA Corp.
7.62%
Microsoft Corp.
5.40%
Amazon.com, Inc.
3.72%
Alphabet, Inc.
3.16%
Broadcom Inc.
2.96%
Alphabet, Inc.
2.54%
Meta Platforms, Inc.
1.91%
Micron Technology, Inc.
1.59%
JPMorgan Chase & Co.
1.52%
Berkshire Hathaway, Inc.
1.51%
Eli Lilly & Co.
1.47%
BlackRock Cash Funds - Treasury
1.42%
Tesla, Inc.
1.40%
Advanced Micro Devices, Inc.
1.28%
Frequently asked questions about HAPI and SMAX
How have the HAPI and SMAX ETFs performed in 2026?
As of September 11, 2026, HAPI is up 12.29% year-to-date (YTD), while SMAX has returned 5.38%. That puts HAPI better performer ahead so far this year.
Which ETF is attracting more investor money: HAPI or SMAX?
Year-to-date, the HAPI ETF saw +$6M in flows, compared to -$34M for SMAX.
Which ETF is more volatile: HAPI or SMAX?
Over the past year, HAPI had a volatility of 12.12%, while SMAX experienced 2.77%.
Which ETF is bigger: HAPI or SMAX?
As of September 11, 2026, HAPI holds $501.84 M in assets under management (AUM), while SMAX manages $88.41 M.
What sectors do the HAPI and SMAX ETFs invest in?
HAPI leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, SMAX focuses on Technology, Finance and Healthcare.
What are the top holdings of the HAPI ETF and SMAX ETF?
HAPI top holdings include Apple, Inc., Amazon.com, Inc. and Microsoft Corp.. SMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..
Which ETF is more diversified: HAPI or SMAX?
HAPI holds 200 securities with 50% of its assets in the top 15. SMAX has 504 securities and a top 15 weight of 45.4%.
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Latest news about HAPI & SMAX
First Trust Launches the First Trust Emerging Markets Human Flourishing ETF
November 29, 2023
HAPI
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