HAP vs HEQ
VanEck Natural Resources ETF vs John Hancock Hedged Equity & Income Fund
Which is better, HAP or HEQ?
HAP has been ahead.
HAP has a lower expense ratio. HAP led over 1Y, 3Y, 5Y and the full window. HAP is less concentrated, with 36.9% of the fund in its ten largest positions against 48.2%.
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 | HEQ |
|---|---|---|
| Expense Ratio | 0.41%Best | 1.16% |
| AUM | $335M | $148M |
| Dividend Yield | 1.87% | 8.10% |
| Holdings | 131 | 659 |
| YTD Return | +21.80%Best | +10.91% |
| 1Y Return | +33.46%Best | +15.19% |
| 3Y Return (annualized) | +17.08%Best | +15.69% |
| 5Y Return (annualized) | +11.74%Best | +6.94% |
| Volatility (annualized) | 18.5% | 15.3%Best |
| Max Drawdown | -44.1%Best | -59.7% |
| $10,000 over 5 years | $17,420Best | $13,986 |
| Top 10 Weight | 36.9%Best | 48.2% |
| Fund Family | VanEck | John Hancock Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Aug 29, 2008 | May 26, 2011 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2011 to Oct 14, 2026 (15.4 years).
HAP vs HEQ 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 15.4 years both funds cover.
HAP vs HEQ Performance
VanEck Natural Resources ETF (HAP) is an ETF from VanEck and John Hancock Hedged Equity & Income Fund (HEQ) is an ETF from John Hancock Investment Management. Over the past year HAP returned +33.46% while HEQ returned +15.19%. Year to date, HAP is up 21.80% versus a gain of 10.91% for HEQ.
Over three years, HAP compounded at +17.08% per year against +15.69% for HEQ; over five years the annualized figures are +11.74% and +6.94% respectively. Across the full 15-year window we track, HAP has the edge at +6.45% annualized vs -0.28%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HAP has been the more volatile fund, with annualized monthly volatility of 18.5% compared with 15.3% for HEQ. 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 -44.1% for HAP and -59.7% for HEQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HAP charges 0.41% per year while HEQ charges 1.16%. On a $10,000 position that is $41 vs $116 annually, a gap of $75 per year that compounds over a long holding period. On income, HAP currently yields 1.87% against 8.10% for HEQ.
Holdings Overlap
11.6% of HAP's money is in holdings HEQ also owns. 9.9% of HEQ's money is in holdings HAP also owns.
HAP and HEQ share little of their money.
7 positions in common, counted across the 134 positions we hold weights for in HAP and 54 in HEQ, against full books of 131 and 659.
What only one of them owns
Our book lists 36 positions for HEQ that do not appear in our book for HAP (80.9% of the fund), and 46 for HAP that do not appear in HEQ (42.9%).
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 HEQ | Difference |
|---|---|---|---|
| DEDeere & Co Sedol 2261203 | 5.33% | 1.07% | 4.26% |
| FCXFreeport-mcmoran Copper & Gold Inc. | 1.54% | 1.58% | 0.04% |
| VLOValero Energy | 0.82% | 2.04% | 1.22% |
| NEMNewmont Corp Common | 1.74% | 0.98% | 0.76% |
| COPConocophillips Common Stock USD 0.01 | 1.15% | 1.45% | 0.30% |
| EQTEQT Corp. | 0.25% | 1.84% | 1.59% |
| SU:CASuncor Energy Inc | 0.76% | 0.92% | 0.16% |
You are not choosing between two funds in isolation.
Whichever of HAP and HEQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HAP or HEQ?
HAP has an expense ratio of 0.41% while HEQ charges 1.16%. HAP is the cheaper option, by $75 a year on a $10,000 investment.
Which performed better, HAP or HEQ?
Over the past year HAP returned +33.46% vs +15.19% for HEQ, so HAP leads on 1-year performance. Over the longest common window we track (15 years), HAP annualized +6.45% vs -0.28% for HEQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HAP or HEQ?
HAP has been the more volatile fund at 18.5% annualized versus 15.3% for HEQ. Worst drawdown: HAP -44.1% vs HEQ -59.7%.
Should I hold both HAP and HEQ?
HAP and HEQ have a monthly-return correlation of 0.74, 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 HEQ?
11.6% of HAP's money is in holdings HEQ also owns. 9.9% of HEQ's is in holdings HAP also owns. They hold 7 positions in common, counted across the 134 positions we hold weights for in HAP and 54 in HEQ.
Which pays a higher dividend, HAP or HEQ?
HAP yields 1.87% while HEQ yields 8.10%, so HEQ currently pays the higher dividend yield.
Is HEQ better than HAP?
HAP has a lower expense ratio. HAP led over 1Y, 3Y, 5Y and the full window. HAP is less concentrated, with 36.9% of the fund in its ten largest positions against 48.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.