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Harbor Health Care ETF (MEDI)

Built on a rich history of Health Care Investing

Welcome
Overview
Performance
Holdings
Investment Team
Documents
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Welcome

Why Invest in MEDI?

Health care costs have increased over time, while forecasts signal continued upward trend looking ahead. A broader shift towards value-based approaches within health care is likely needed, with emphasis on lower costs of care and improved patient outcomes. This enables opportunities for health care companies best positioned to facilitate transition towards value over quantity.

In addition, health care is home to other disruptive themes such as targeted oncology, liquid biopsy, gene therapy, orphan diseases, and others that represent compelling long-term growth opportunities.

The investment team behind MEDI seeks to construct a portfolio capable of benefiting from the secular growth and innovation of the U.S. health care system, while achieving alpha relative to the broader Health Care sector by investing in quality businesses with differentiated products, technologies, and services which meet the team's disciplined valuation criteria.


Matthew R. Renna
Partner, Portfolio Manager, Westfield Capital Management Company L.P.

"Health care is a sector that we are very passionate about, and one in which we have a strong history."

Read the Q&A for a timely look at the Health Care sector.



Time to get active in healthcare investing

 

Overview

Investment Team
Westfield Capital Management

Current Price

Current Price

As of 6/2/2023

$21.78

Price (NAV)

$0.31

NAV Daily Change ($)

1.44%

NAV Daily Change (%)

7.61%

NAV YTD Return

$21.80

Market Price

$0.32

Market Daily Change ($)

1.49%

Market Daily Change (%)

7.71%

Market YTD Return

Fund Facts

As of 6/2/2023

11/16/2022

Inception Date

0.80

Expense Ratio (%)
disclaimer

$4.356

Total Net Assets (million)

200,000

Shares Outstanding
(As of 6/5/2023)

MEDI

Ticker

41151J869

Cusip

NYSE

Exchange

US41151J896

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Health

Morningstar Category

Russell 3000® Growth Health Care Index

Benchmark

Investment Objective:

The Fund seeks long-term growth of capital.

Pricing/Trading

As of 6/2/2023

$21.81

Bid/Ask Mid Price

$21.80

Closing Market Price

$0.03

Premium/Discount ($)

0.12%

Premium/Discount (%)

0.24%

30-Day Median Bid/Ask Spread

487

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

left quote

"Health care is a sector that we are very passionate about, and one in which we have a strong history."

Matthew R. Renna

Partner, Portfolio Manager, Westfield Capital Management Company L.P.

right quote

Performance

Total Returns

Quarter-End

Fund Name

3 Mo.

YTD Return

Since Inception

Net Expense Ratio

Gross Expense Ratio

Health Care ETF

1.63%

1.63%

3.58%

0.80%disclaimer

0.80%

Fund Market Price

1.58%

1.58%

4.21%

--

--

Russell 3000 Growth Health Care Index

-1.34%

-1.34%

0.54%

--

--

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

The Russell 3000® Growth Health Care Index is an unmanaged index generally representative of companies involved in medical services or health care in the Russell 3000 Index, which is comprised of the 3,000 largest U.S. companies as determined by total market capitalization. This unmanaged index does not reflect fees and expenses and is not available for direct investment. Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.

Price History

Chart

Ex-Date

Record Date

Payable Date

Ordinary Income

Short Term Capital Gains

Long Term Capital Gains

Total Distribution

12/21/2022

12/22/2022

12/27/2022

--

--

--

0.00000

Holdings

Portfolio Characteristics

As of 4/30/2023

36

Number of Holdings

154673.2

Wtd Avg Market Cap ($Mil)

5.91

Price/Book Ratio

36.2

Adjusted Trailing P/E Ratio

16.5

% EPS Growth - Past 3 Yr

11.96

Return on Equity (%)

28.7

Forecasted P/E Ratio

Top Ten Holdings

As of 6/1/2023

Company Name [Ticker]

% of Net Assets

UNITEDHEALTH GROUP INC COMMON STOCK USD.01[UNH]

15.6

ELI LILLY + CO COMMON STOCK[LLY]

14.6

ASCENDIS PHARMA A/S ADR ADR DKK1.0[ASND]

7.9

ICON PLC COMMON STOCK EUR.06[ICLR]

4.5

ALKERMES PLC COMMON STOCK USD.01[ALKS]

4.4

BIO RAD LABORATORIES A COMMON STOCK USD.0001[BIO]

4.1

MASIMO CORP COMMON STOCK USD.001[MASI]

3.3

OPTION CARE HEALTH INC COMMON STOCK USD.0001[OPCH]

3.3

DEXCOM INC COMMON STOCK USD.001[DXCM]

3.2

MERCK + CO. INC. COMMON STOCK USD.5[MRK]

3.1

% of Total Holdings:

64.0%

This information should not be considered as a recommendation to purchase or sell a particular security. The weightings, holdings, industry, sector and/or countries mentioned may change at any time and may not represent current or future investments.

As of 6/1/2023

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

UNITEDHEALTH GROUP INC COMMON STOCK USD.01 [UNH]

Equity

91324P102

1,361

493.63

671,830.43

15.6

ELI LILLY + CO COMMON STOCK [LLY]

Equity

532457108

1,433

436.49

625,490.17

14.6

ASCENDIS PHARMA A/S ADR ADR DKK1.0 [ASND]

Equity

04351P101

3,865

87.96

339,965.40

7.9

ICON PLC COMMON STOCK EUR.06 [ICLR]

Equity

G4705A100

904

215.85

195,128.40

4.5

ALKERMES PLC COMMON STOCK USD.01 [ALKS]

Equity

G01767105

6,497

29.28

190,232.16

4.4

BIO RAD LABORATORIES A COMMON STOCK USD.0001 [BIO]

Equity

090572207

470

371.36

174,539.20

4.1

MASIMO CORP COMMON STOCK USD.001 [MASI]

Equity

574795100

850

165.32

140,522.00

3.3

OPTION CARE HEALTH INC COMMON STOCK USD.0001 [OPCH]

Equity

68404L201

5,064

27.73

140,424.72

3.3

DEXCOM INC COMMON STOCK USD.001 [DXCM]

Equity

252131107

1,147

119.58

137,158.26

3.2

MERCK + CO. INC. COMMON STOCK USD.5 [MRK]

Equity

58933Y105

1,184

110.93

131,341.12

3.1

INSULET CORP COMMON STOCK USD.001 [PODD]

Equity

45784P101

418

272.48

113,896.64

2.7

THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0 [TMO]

Equity

883556102

212

519.38

110,108.56

2.6

INSPIRE MEDICAL SYSTEMS INC COMMON STOCK USD.001 [INSP]

Equity

457730109

356

302.23

107,593.88

2.5

LANTHEUS HOLDINGS INC COMMON STOCK USD.01 [LNTH]

Equity

516544103

972

89.08

86,585.76

2.0

HUMANA INC COMMON STOCK USD.1666666 [HUM]

Equity

444859102

168

515.15

86,545.20

2.0

AVANTOR INC COMMON STOCK USD.01 [AVTR]

Equity

05352A100

4,266

19.90

84,893.40

2.0

AZENTA INC COMMON STOCK USD.01 [AZTA]

Equity

114340102

1,781

43.53

77,526.93

1.8

ALIGN TECHNOLOGY INC COMMON STOCK USD.0001 [ALGN]

Equity

016255101

252

297.20

74,894.40

1.7

COOPER COS INC/THE COMMON STOCK USD.1 [COO]

Equity

216648402

191

374.19

71,470.29

1.7

VERADIGM INC COMMON STOCK USD.01 [MDRX]

Equity

01988P108

5,969

11.89

70,971.41

1.7

BIO TECHNE CORP COMMON STOCK USD.01 [TECH]

Equity

09073M104

814

81.69

66,495.66

1.5

INTUITIVE SURGICAL INC COMMON STOCK USD.001 [ISRG]

Equity

46120E602

214

310.54

66,455.56

1.5

APELLIS PHARMACEUTICALS INC COMMON STOCK USD.0001 [APLS]

Equity

03753U106

722

87.31

63,037.82

1.5

SAREPTA THERAPEUTICS INC COMMON STOCK USD.0001 [SRPT]

Equity

803607100

477

124.28

59,281.56

1.4

ROCKET PHARMACEUTICALS INC COMMON STOCK USD.01 [RCKT]

Equity

77313F106

2,584

20.93

54,083.12

1.3

IDEXX LABORATORIES INC COMMON STOCK USD.1 [IDXX]

Equity

45168D104

105

469.84

49,333.20

1.1

AMEDISYS INC COMMON STOCK USD.001 [AMED]

Equity

023436108

514

76.68

39,413.52

0.9

MOONLAKE IMMUNOTHERAPEUTICS COMMON STOCK USD.0001 [MLTX]

Equity

61559X104

1,341

27.55

36,944.55

0.9

NEUROCRINE BIOSCIENCES INC COMMON STOCK USD.001 [NBIX]

Equity

64125C109

405

91.19

36,931.95

0.9

LEGEND BIOTECH CORP ADR ADR [LEGN]

Equity

52490G102

570

63.62

36,263.40

0.8

CEREVEL THERAPEUTICS HOLDING COMMON STOCK USD.0001 [CERE]

Equity

15678U128

1,097

32.55

35,707.35

0.8

89BIO INC COMMON STOCK USD.001 [ETNB]

Equity

282559103

1,542

18.88

29,112.96

0.7

HAEMONETICS CORP/MASS COMMON STOCK USD.01 [HAE]

Equity

405024100

262

86.57

22,681.34

0.5

REPLIGEN CORP COMMON STOCK USD.01 [RGEN]

Equity

759916109

133

167.07

22,220.31

0.5

VAXCYTE INC COMMON STOCK USD.001 [PCVX]

Equity

92243G108

436

50.30

21,930.80

0.5

INNOVIVA INC COMMON STOCK USD.01 [INVA]

Equity

45781M101

757

13.11

9,924.27

0.2

Total

--

--

--

--

--

4,281

99.7

Cash and Other Assets Less Liabilities

--

--

--

--

--

--

0.3

Total Net Assets

--

--

--

--

--

--

100%

As of 4/30/2023

Health Care ETF (MEDI)

Russell 3000 Growth Health Care Index

-

Health Care

MEDI: 99.7%

Benchmark: 99.8%

-

Consumer Discretionary

MEDI: 0.0%

Benchmark: 0.0%

-

Consumer Staples

MEDI: 0.0%

Benchmark: NaN%

-

Industrials

MEDI: 0.0%

Benchmark: 0.0%

-

Information Technology

MEDI: 0.0%

Benchmark: NaN%

-

Materials

MEDI: 0.0%

Benchmark: 0.0%

MEDI: Health Care ETF

Benchmark: Russell 3000 Growth Health Care Index

As of 4/30/2023

Economic Sector

Health Care ETF %

Russell 3000 Growth Health Care Index %

Health Care

Economic sector icon

1.3

3.8

Industrials

Economic sector icon

0.0

15.9

Communication Services

Economic sector icon

0.0

7.1

Consumer Discretionary

Economic sector icon

0.0

-34.8

Information Technology

Economic sector icon

0.0

-27.5

Consumer Staples

Economic sector icon

0.0

-4.3

Materials

Economic sector icon

0.0

-37.4

Investment Team


Westfield Capital Management

Westfield Capital Management Company, L.P. is dedicated to providing strong and consistent investment performance based on a disciplined, team-based approach, with exceptional client service. Westfield believes their greatest strength comes from the collective wisdom of a fully engaged and inspired team working together with clear objectives. Additionally, Westfield embraces their partnership structure, which aligns the advancement of the organization with their clients and serves to attract and retain exceptional talent.

Documents

Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Harbor ETFs are new and have limited operating history to judge.

Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

There is no guarantee that the investment objective of the Fund will be achieved.  Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Since the Fund may hold foreign securities, it may be subject to greater risks than funds invested only in the U.S. These risks are more severe for securities of issuers in emerging market regions. Foreign currencies can decline in value and can adversely affect the dollar value of the fund. Since the Fund typically invests in a limited number of companies, an adverse event affecting a particular company may hurt the Fund's performance more than if it had invested in a larger number of companies. Health Care Industry Risk: Because the Fund seeks to invest all, or substantially all, of its assets in the health care industry, the value of its shares will depend on the general condition of the that industry. The health care industry may be affected by any number of factors, including, but not limited to, lapsing patent protection, industry innovation, extensive government regulation, restrictions on government reimbursement for medical expenses, research and development costs, limited product lines, product liability litigation, an increased emphasis on outpatient services, and competitive forces. Authorized Participant Concentration/Trading Risk: Only authorized participants ("APs") may engage in creation or redemption transactions directly with the Fund. The Fund is classified as non-diversified, a non-diversified Fund may invest a greater percentage of its assets in securities of a single issuer, and/or invest in a relatively small number of issuers, it is more susceptible to risks associated with a single economic, political or regulatory occurrence than a more diversified portfolio. New Fund Risk: There can be no assurance that the Fund will grow to or maintain an economically viable size, in which case the Board of Trustees may determine to liquidate the Fund. Small and Mid Cap Risk: The Fund's performance may be more volatile because it may invest in issuers that are smaller companies.

The views expressed herein may not be reflective of current opinions, are subject to change without prior notice, and should not be considered investment advice.

Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.

Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.

Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.

% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.

Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.

Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.

Bid/Ask Mid Price: the midpoint between the highest bid and the lowest offer, as of the time that the Fund’s NAV is calculated, typically 4 p.m. Eastern Time.

Premium/Discount ($): the difference between the Fund’s market price and NAV, expressed as a percentage of NAV. A premium is the amount that the Fund is trading above the reported NAV. A discount is the amount that the Fund is trading below the reported NAV.

30-Day Median Bid/Ask Spread: calculated by identifying national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage (rounded to the nearest hundredth).

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Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.
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Investing involves risk and the potential loss of capital.

Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. To obtain a summary prospectus or prospectus for this and other information, click here or call 800-422-1050. Read it carefully before investing.

All trademarks or product names mentioned herein are the property of their respective owners. Copyright © 2023 Harbor Capital Advisors, Inc. All rights reserved.