HAPI vs SPY

AHAPI

BSPY

Measures won2–3SPY wins · of 6 · 5Y

$10,000 · 5Y$18,763QQQ · VOO $18,115

Lowest cost0.03%VOO · $3 on $10k

Most income1.05%VOO · $105 on $10k

Smallest drop−8.1%HAPI · worst fall in 1Y

Held in common50.2%HAPI and SPY

HAPI

SPY

Harbor Human Capital Factor US Large Cap ETF (HAPI) · $503MState Street SPDR S&P 500 ETF · $805B

+23.9%3 years · per year$19,002 · $19,132+24.1%

[…]5 years · per year[…] · $18,060+12.6%

0.35%Expense ratio$35 · $9 on $10k · lower wins0.09%

0.77%12-mo yield$77 · $99 on $10k0.99%

−8.1%Worst dropSmaller wins−8.9%

12.2%VolatilityLower wins12.9%

2–3SPY wins

$10,000 · 5 yearsAll four, one scale

Shared top holdingsHAPI · SPY

5.9%MSFT5.9%

5.9%AAPL7.4%

5.1%NVDA7.7%

5.7%AMZN3.8%

Held in common50.2%

End-of-day Nov 4, 2026 · $10,000 5 years ago, dividends reinvested · ● winner of the row · each row scaled to the bigger of the two

All Four

5Y4 funds

#
1	QQQ	Invesco QQQ Trust, Series 1Read Desk	0.18%	0.45%	+1.0%	+13.0%	+10.0%	+26.3%	+13.4%	−11.7%	$464.6B
2	VOO	Vanguard S&P 500 ETFRead Desk	0.03%	1.05%	+1.6%	+13.4%	+13.5%	+24.2%	+12.6%	−8.9%	$1.00T
3	BSPY	State Street SPDR S&P 500 ETFRead Desk	0.09%	0.99%	+1.7%	+13.3%	+13.4%	+24.1%	+12.6%	−8.9%	$804.8B
4	AHAPI	Harbor Human Capital Factor US Large Cap ETF (HAPI)Read Desk	0.35%	0.77%	+2.0%	+12.3%	+13.6%	+23.9%	new	−8.1%	$503M

End-of-day Nov 4, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

All Four

5Y4 funds

#
1	QQQ	Invesco QQQ Trust, Series 1Read Desk	0.18%	0.45%	+1.0%	+13.0%	+10.0%	+26.3%	+13.4%	−11.7%	$464.6B
2	VOO	Vanguard S&P 500 ETFRead Desk	0.03%	1.05%	+1.6%	+13.4%	+13.5%	+24.2%	+12.6%	−8.9%	$1.00T
3	BSPY	State Street SPDR S&P 500 ETFRead Desk	0.09%	0.99%	+1.7%	+13.3%	+13.4%	+24.1%	+12.6%	−8.9%	$804.8B
4	AHAPI	Harbor Human Capital Factor US Large Cap ETF (HAPI)Read Desk	0.35%	0.77%	+2.0%	+12.3%	+13.6%	+23.9%	new	−8.1%	$503M

End-of-day Nov 4, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

Cards for this view

HAPI vs SPY

HAPI

Harbor Human Capital Factor US Large Cap ETF (HAPI)

[…]

SPY

SPDR S&P 500

$18,060

MeasureHAPISPY

Fee0.35%0.09%

Cost on $10k a year$35$9

Yield0.77%0.99%

5 years, per year[…]+12.6%

3 years, per year+23.9%+24.1%

Worst drop · 1Y−8.1%−8.9%

Volatility · 1Y12.2%12.9%

3–2measures won
SPY first

50.2%

holdings shared

Nov 4, 2026 · $10,000 five years ago, dividends reinvested

SPYM vs SPY

YTD

SPDRSPYM

+13.4%

SPYSPDR

+13.3%

+13.4%Year to date+13.3%

1.0%Yield1.0%

$182BAssets$805B

1–0SPYM wins

End-of-day Nov 4, 2026

QQQM vs QQQ

YTD

InvescoQQQM

+13.1%

QQQInvesco

+13.0%

+13.1%Year to date+13.0%

0.15% · $15Fee · on $10k a year0.18% · $18

$106BAssets$465B

2–0QQQM wins

End-of-day Nov 4, 2026

VOO vs IVV

YTD

VanguardVOO

+13.4%

IVViShares

+13.4%

+13.4%Year to date+13.4%

1.1%Yield1.1%

$1.00TAssets$887B

0–0level

End-of-day Nov 4, 2026

Overlap: HAPI, SPY, QQQ, VOO

Today

94.5%most shared, SPY and VOO

HAPISPYQQQVOO

HAPI—50.2%41.2%49.9%

SPY50.2%—52.8%94.5%

QQQ41.2%52.8%—55.3%

VOO49.9%94.5%55.3%—

End-of-day Nov 4, 2026 · share held in common · outlined: the pair in versus

Income After Fees on $10,000

$102most kept, VOO

VOO$105 − $3 = $102

SPY$99 − $9 = $90

HAPI$77 − $35 = $42

QQQ$45 − $18 = $27

KeptFee

End-of-day Nov 4, 2026 · yield in dollars minus the fee