Q1 2026 In Commodities: The HGER ETF Moves Higher And Outperforms

Harbor Commodity All-Weather Strategy ETF surged 24.94% in Q1 2026, outperforming the commodity composite's 11.79% gain. HGER's overweight to energy (32.9%) and grains (12.6%) drove outperformance as these sectors led with 55.71% and 14.96% Q1 gains, respectively. I downgrade HGER from Buy to Hold due to elevated prices and increased risks in energy and agricultural markets, despite continued bullishness on the asset class.