VanEck Natural Resources ETF (HAP) Performance
HAP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +23.0% since Dec 31, 2025
- 1 year
- +31.5% total return
- 5 years
- +12.0% a year
- 10 years
- +11.7% a year
- Since first price
- +6.2% a year since 2008
HAP trailing returns vs SPY, QQQ, AGG
| Period | HAP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.6% | −1.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.9% | +3.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +1.7% | +1.7% | +7.8% | +8.4% | −1.5% |
| YTD | +23.0% | +23.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +31.5% | +28.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +69.3%+19.2%/yr | +56.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +75.9%+12.0%/yr | +53.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +203.1%+11.7%/yr | +134.5% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +205.7%+7.7%/yr | +109.7% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionSep 3, 2008 | +196.0%+6.2%/yr | +99.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HAP vs SPY
From Sep 3, 2008: HAP grew to $29,600, SPY to $82,818.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HAP returns by calendar year
12 of 17 full years positive. Best 2009 (+42.5%), worst 2015 (−19.9%). 2026 is year to date.
HAP annual returns table
| Year | HAP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +23.0% | −9.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +34.9% | −14.3% | +17.7% | +20.8% | +7.2% |
| 2024 | −4.1% | −13.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +2.5% | −14.1% | +26.2% | +54.9% | +5.7% |
| 2022 | +7.8% | −25.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +25.0% | −11.3% | +28.7% | +27.4% | −1.8% |
| 2020 | +6.3% | −43.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +18.5% | −9.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −10.7% | −20.1% | −4.6% | −0.1% | +0.1% |
| 2017 | +17.1% | −5.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +25.3% | −11.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −19.9% | −27.2% | +1.2% | +9.4% | +0.5% |
| 2014 | −7.2% | −20.3% | +13.5% | +19.2% | +6.0% |
| 2013 | +6.8% | −12.7% | +32.3% | +36.6% | −2.0% |
| 2012 | +8.8% | −18.0% | +16.0% | +18.1% | +3.8% |
| 2011 | −11.7% | −30.5% | +1.9% | +3.4% | +7.7% |
| 2010 | +16.5% | −21.9% | +15.1% | +19.9% | +6.4% |
| 2009 | +42.5% | −22.6% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HAP largest drawdowns
Now 5.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Sep 23, 2008 | −50.7% | Nov 20, 2008 | Nov 4, 2010 | 58 days | 2.1 years |
| Jan 26, 2018 | −44.1% | Mar 18, 2020 | Nov 24, 2020 | 2.1 years | 2.8 years |
| Jul 3, 2014 | −40.6% | Jan 20, 2016 | Jan 2, 2018 | 1.5 years | 3.5 years |
| Apr 5, 2011 | −30.5% | Oct 3, 2011 | Jun 19, 2014 | 6 months | 3.2 years |
| Apr 20, 2022 | −25.7% | Sep 26, 2022 | Jun 12, 2025 | 5 months | 3.1 years |
| May 10, 2021 | −11.3% | Jul 19, 2021 | Jan 4, 2022 | 2 months | 8 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HAP risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +17.4% | +13.0% | +11.5% | +7.0% |
| Volatility (annualized) | 15.5% | 18.6% | 18.6% | 20.1% |
| Sharpe ratio | 0.83 | 0.56 | 0.56 | 0.38 |
| Sortino ratio | 1.46 | 0.86 | 0.85 | 0.56 |
| Best month | +11.9% | +11.9% | +17.1% | +17.7% |
| Worst month | −8.2% | −14.9% | −18.4% | −25.2% |
| Best 12 months | +57.2% | +57.2% | +82.3% | +82.3% |
| Worst 12 months | −4.1% | −12.3% | −27.6% | −27.6% |
| Positive months | 69% | 65% | 63% | 57% |
| Beta vs S&P 500 | 0.32 | 0.68 | 0.86 | — |
| Correlation with S&P 500 | 0.26 | 0.57 | 0.71 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HAP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 206 | −27.6% | +6.8% | +82.3% | 71% |
| 3-year (a year) | 182 | −10.0% | +6.2% | +28.5% | 77% |
| 5-year (a year) | 158 | −6.6% | +7.7% | +17.9% | 87% |
| 10-year (a year) | 98 | −0.7% | +5.7% | +13.7% | 99% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
HAP performance overview
VanEck Natural Resources ETF (HAP) returned +31.5% over the past year and +11.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned +6.2% a year, turning $10,000 into about $29,600. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −50.7%, from Sep 23, 2008 to Nov 20, 2008, and it took 2.0 years to get back to the old high. HAP finished 12 of its 17 full calendar years with a gain; the best year was 2009 (+42.5%) and the worst 2015 (−19.9%). Volatility has been 20.1% a year.
Related: HAP chart, HAP holdings, HAP dividends, HAP valuation. See the HAP overview for the latest quote and fund facts.
HAP performance FAQ
What is the HAP return over the past year?
HAP returned +31.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 28.5%.
What is the average annual return of HAP?
HAP has returned +12.0% a year over 5 years, +11.7% a year over 10 years, +6.2% a year since September 3, 2008 (total return, distributions reinvested).
How much would $10,000 invested in HAP be worth?
$10,000 invested in HAP at its first recorded close on September 3, 2008 would be worth about $29,600 on October 23, 2026 with distributions reinvested.
What was the worst year for HAP?
The worst calendar year was 2015, with a total return of −19.9%. The best was 2009 at +42.5%.
What is the biggest drawdown of HAP?
The largest peak-to-trough decline was −50.7% between September 23, 2008 and November 20, 2008. It recovered to the old high on November 4, 2010, 2.0 years after the bottom.
How volatile is HAP?
Over the past 3 years HAP had an annualized volatility of 15.5% and a Sharpe ratio of 0.83 (excess return over 1–3 month T-bills per unit of risk).