Harbor Capital Logo

Harbor Disciplined Bond ETF (AGGS)

NAV as of 10/8/2026
$38.94
NAV Daily Change
$0.13 ↑
NAV YTD Return
-2.19% ↓
Net Expense Ratio (%)
0.35
Total Net Assets (million) as of 10/9/2026
$37.965
Benchmark
Bloomberg US Aggregate Bond Index

Why Consider AGGS?

  • Straightforward process: IR+M possesses a transparent, highly selective, and bottom-up investment process. Its bond-by-bond approach, duration and key rate neutrality relative to the benchmark, and exclusive focus on cash bonds contribute to the firm’s consistency of process over its history.
  • Long-term view: IR+M believes the best way to respond to unstable environments is by having a long-term investment horizon. Importantly, IR+M seeks to produce highly consistent returns through different volatility environments.
  • Low costs: We believe AGGS' total expense ratio is competitive, lower than several active ETFs in its category.

Investment Team

Income Research + Management logo on white background
James E. Gubitosi
Mike Sheldon
Bill O’Neill
Jake Remley
Matt Walker
Rachel Campbell
Wesly Pate
Ginny Schiappa

Learn More

As of 10/8/2026

$38.94

Price (NAV)

$0.13

NAV Daily Change ($)

0.33%

NAV Daily Change (%)

-2.19%

NAV YTD Return

$39.12

Market Price

$0.14

Market Daily Change ($)

0.36%

Market Daily Change (%)

-1.93%

Market YTD Return

5.63%

Current 30-Day Sub. SEC Yield

5.63%

Current 30-Day Unsub. SEC Yield

5.78%

Effective 30-Day Sub. Yield

5.78%

Effective 30-Day Unsub. Yield

As of 10/8/2026

5/1/2024

Inception Date

0.35

Expense Ratio (%)

$37.965

Total Net Assets (million)

975,000

Shares Outstanding
(As of 10/9/2026)

AGGS

Ticker

41151J794

Cusip

NYSE Arca

Exchange

US41151J7946

ISIN

Foreside Fund Services, LLC.

Distributor

Monthly

Dividend Frequency

Intermediate Core Plus

Morningstar Category

Bloomberg US Aggregate Bond Index

Benchmark

Investment Objective:

The Fund seeks total return

Morningstar Medalist Rating™

Morningstar Silver
Analyst-Driven %
100
Data Coverage %
100
As of 7/31/2026
The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time.

Source: Morningstar

As of 10/8/2026

$39.13

Bid/Ask Mid Price

$39.12

Closing Market Price

$0.19

Premium/Discount ($)

0.48%

Premium/Discount (%)
2025
Q1 2026
Q2 2026
Q3 2026
Q4 2026
YTD
Days Traded at a Premium
146
55
32
64
6
157
Days Traded at a Discount
104
6
30
--
--
36

0.10%

30-Day Median Bid/Ask Spread

453

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Select an option

Loading Performance Data...

3 Mo.
YTD Return
1 Yr.
Since Fund Inception
Net Expense Ratio
Gross Expense Ratio
Disciplined Bond ETF - at NAV
-3.54%
-2.63%
-1.62%
3.74%
0.35%
0.35%
Market Price
-3.53%
-2.62%
-1.51%
3.83%
--
--
Bloomberg US Aggregate Bond Index
-3.51%
-2.91%
-1.84%
3.49%
--
--

Performance data shown represents past performance and is no guarantee of future results. Fund 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 Bloomberg US Aggregate Bond Index is an unmanaged index of investment‑grade fixed‑rate debt issues with maturities of at least one year. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Select an option

Ex-Date
Record Date
Payable Date
Ordinary Income
Short Term Capital Gains
Long Term Capital Gains
Total Distribution
9/30/2026
9/30/2026
10/5/2026
0.14546
--
--
0.14546
8/31/2026
8/31/2026
9/3/2026
0.15750
--
--
0.15750
8/2/2026
8/2/2026
8/5/2026
0.17092
--
--
0.17092
6/30/2026
6/30/2026
7/6/2026
0.14135
--
--
0.14135
5/31/2026
5/31/2026
6/3/2026
0.15045
--
--
0.15045
4/30/2026
4/30/2026
5/5/2026
0.14069
--
--
0.14069
3/31/2026
3/31/2026
4/6/2026
0.15024
--
--
0.15024
3/1/2026
3/1/2026
3/4/2026
0.12755
--
--
0.12755
2/1/2026
2/1/2026
2/4/2026
0.14502
--
--
0.14502
12/18/2025
12/18/2025
12/23/2025
0.41311
--
--
0.41311
12/1/2025
12/1/2025
12/4/2025
0.17068
--
--
0.17068
11/3/2025
11/3/2025
11/6/2025
0.18062
--
--
0.18062
9/30/2025
9/30/2025
10/5/2025
0.14651
--
--
0.14651
9/1/2025
9/1/2025
9/4/2025
0.16866
--
--
0.16866
7/31/2025
7/31/2025
8/5/2025
0.16761
--
--
0.16761
6/30/2025
6/30/2025
7/6/2025
0.15543
--
--
0.15543
6/1/2025
6/1/2025
6/4/2025
0.17848
--
--
0.17848
4/30/2025
4/30/2025
5/5/2025
0.15955
--
--
0.15955
3/31/2025
3/31/2025
4/3/2025
0.16834
--
--
0.16834
3/2/2025
3/2/2025
3/5/2025
0.14896
--
--
0.14896
2/2/2025
2/2/2025
2/5/2025
0.18175
--
--
0.18175
12/19/2024
12/19/2024
12/25/2024
0.19585
0.09246
--
0.28831
12/1/2024
12/1/2024
12/4/2024
0.16238
--
--
0.16238
11/3/2024
11/3/2024
11/6/2024
0.17701
--
--
0.17701
9/30/2024
9/30/2024
10/3/2024
0.14561
--
--
0.14561
9/2/2024
9/2/2024
9/5/2024
0.16642
--
--
0.16642
7/31/2024
7/31/2024
8/5/2024
0.17115
--
--
0.17115
6/30/2024
6/30/2024
7/4/2024
0.15595
--
--
0.15595
6/2/2024
6/2/2024
6/5/2024
0.10158
--
--
0.10158

Holdings

As of 8/31/2026

290

Number of Bonds

4.67

Avg. Market Coupon (%)

9.78

Wtd. Avg. Maturity (yrs)

5.86

Wtd. Avg. Duration (yrs)

As of 10/7/2026

Name
Maturity Date
Coupon Rate (%)
Value ($000's)
% of Net Assets
US TREASURY N/B
2/14/2046
4.6
2,675
7.1
US TREASURY N/B
2/14/2055
4.6
2,005
5.3
US TREASURY N/B
8/14/2036
4.6
420
1.1
G2 MA7589
9/19/2051
2.5
364
1.0
US TREASURY N/B
2/14/2056
4.8
359
0.9
FR SD7565
8/31/2053
5.5
334
0.9
FR SD7543
7/31/2051
2.5
290
0.8
FR SD7563
4/30/2053
4.5
286
0.8
FR SD7548
10/31/2051
2.5
262
0.7
FR SD7544
6/30/2051
3.0
255
0.7
% of Total Holdings:
--
--
--
19.2

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

As of 10/7/2026

Company Name
Category Name
Cusip
Shares
Maturity Date
Coupon Rate (%)
Market Value ($000's)
% of Net Assets
US TREASURY N/B
FIXED INCOME
912810UT3
3,066,000
2/15/2046
4.6
2,675
7.1
US TREASURY N/B
FIXED INCOME
912810UG1
2,357,000
2/15/2055
4.6
2,005
5.3
US TREASURY N/B
FIXED INCOME
91282CRF0
442,000
8/15/2036
4.6
420
1.1
G2 MA7589
FIXED INCOME
36179WNE4
454,987.52
9/20/2051
2.5
364
1.0
US TREASURY N/B
FIXED INCOME
912810UR7
413,000
2/15/2056
4.8
359
0.9
FR SD7565
FIXED INCOME
3132DVMN2
346,475.91
9/1/2053
5.5
334
0.9
FR SD7543
FIXED INCOME
3132DVLY9
364,895.23
8/1/2051
2.5
290
0.8
FR SD7563
FIXED INCOME
3132DVML6
311,692.31
5/1/2053
4.5
286
0.8
FR SD7548
FIXED INCOME
3132DVL52
328,334.44
11/1/2051
2.5
262
0.7
FR SD7544
FIXED INCOME
3132DVLZ6
305,317.16
7/1/2051
3.0
255
0.7
ATLAS WAREHOUSE LEND
FIXED INCOME
049463AD4
250,000
1/15/2028
6.0
251
0.7
CGMS 2022-1A A1R
FIXED INCOME
14318JAL0
250,000
4/15/2035
4.7
250
0.7
AIMCO 2018-BA AR3
FIXED INCOME
00900PBC8
250,000
4/16/2037
5.0
250
0.7
OCP 2020-18A A1R3
FIXED INCOME
671078BN2
250,000
7/21/2039
5.0
250
0.7
FN CA6635
FIXED INCOME
3140QELR1
282,172.61
8/1/2050
2.5
226
0.6
FR SL6044
FIXED INCOME
31427TWE2
226,914.12
2/1/2055
6.0
225
0.6
PLNT 2019-1A A2
FIXED INCOME
72703PAC7
233,124.98
12/5/2049
3.9
220
0.6
FN MA4305
FIXED INCOME
31418DYB2
290,490.08
4/1/2051
2.0
219
0.6
COTY/HFC PRESTIGE/INT US
FIXED INCOME
22207AAC6
230,000
1/15/2031
5.6
219
0.6
FR SD7568
FIXED INCOME
3132DVMR3
220,751.49
2/1/2054
5.5
214
0.6
FN CB3108
FIXED INCOME
3140QNN24
268,274.46
3/1/2052
2.5
214
0.6
FN CB4354
FIXED INCOME
3140QPZU4
225,950.5
8/1/2052
5.0
212
0.6
FN CB4105
FIXED INCOME
3140QPR33
220,866.09
7/1/2052
5.0
208
0.6
FN FA3610
FIXED INCOME
3140W4AL1
207,978.84
9/1/2055
6.0
205
0.5
ELMW1 2019-1A A1R3
FIXED INCOME
290015BJ4
203,000
4/20/2037
4.8
203
0.5
CROSS 2026-NQM9 A1
FIXED INCOME
22758JAE6
199,369.63
8/25/2071
5.7
197
0.5
JBS NV/USA FOODS/FOOD CO
FIXED INCOME
46590XAU0
220,000
1/15/2032
3.6
196
0.5
CHASE 2026-10 A4
FIXED INCOME
16160HAJ3
197,000
8/25/2057
5.5
194
0.5
ASHTEAD CAPITAL INC
FIXED INCOME
045054AQ6
200,000
5/30/2033
5.5
194
0.5
FORD MOTOR CREDIT CO LLC
FIXED INCOME
345397E66
200,000
3/8/2034
6.1
192
0.5
LLOYDS BANKING GROUP PLC
FIXED INCOME
53944YBM4
200,000
8/17/2037
5.7
190
0.5
STELLANTIS FINANCIAL SER
FIXED INCOME
85855FAB9
200,000
9/15/2030
5.4
189
0.5
FR SL3918
FIXED INCOME
31427RK82
201,566.76
5/1/2054
5.0
189
0.5
FN FA6430
FIXED INCOME
3140W7EC0
191,142.88
11/1/2053
6.0
189
0.5
FERGUSON FINANCE PLC
FIXED INCOME
314890AD6
200,000
4/20/2032
4.7
188
0.5
MACQUARIE BANK LTD
FIXED INCOME
556079AH4
200,000
6/10/2037
5.8
187
0.5
FR SD8182
FIXED INCOME
3132DWCT8
249,013.36
12/1/2051
2.0
187
0.5
BARCLAYS PLC
FIXED INCOME
06738EDN2
200,000
6/26/2037
5.6
186
0.5
SBL HOLDINGS INC
FIXED INCOME
78397DAB4
211,000
2/18/2031
5.0
184
0.5
OBX 2026-NQM9 A1
FIXED INCOME
67449PAE2
186,176.91
4/25/2066
5.5
184
0.5
VBTEL 2022-1A C2I
FIXED INCOME
91823AAU5
187,000
2/15/2052
3.2
184
0.5
FN CB2857
FIXED INCOME
3140QNE73
228,257.72
2/1/2052
2.5
182
0.5
TSY INFL IX N/B
FIXED INCOME
91282CNS6
196,686.63
7/15/2035
1.9
182
0.5
FN CB4558
FIXED INCOME
3140QQB46
190,721.72
9/1/2052
5.0
180
0.5
FR SB1246
FIXED INCOME
3132CXL34
179,762.97
9/1/2039
5.5
179
0.5
CHASE 2026-4 A4A
FIXED INCOME
16190AAK9
182,307.3
2/25/2057
5.0
177
0.5
SEMT 2026-4 A5
FIXED INCOME
81750QAE4
181,427.44
3/25/2056
5.0
176
0.5
FR SL3053
FIXED INCOME
31427QMB5
183,174.26
10/1/2055
5.5
176
0.5
FN MA3238
FIXED INCOME
31418CS47
202,934.99
1/1/2048
3.5
175
0.5
NEXSTAR MEDIA INC
FIXED INCOME
65346UAB5
179,000
9/15/2033
6.5
172
0.5
FN FA3662
FIXED INCOME
3140W4B89
178,754.59
10/1/2055
5.5
172
0.5
UBS GROUP AG
FIXED INCOME
902613AK4
200,000
2/11/2033
2.7
171
0.5
BEIGNET INVESTOR LLC
FIXED INCOME
076912AA2
184,000
5/30/2049
6.6
169
0.4
G2 MA9240
FIXED INCOME
36179YHR8
179,561.88
10/20/2053
5.0
168
0.4
MSRM 2026-1 A4
FIXED INCOME
617956AD9
172,502.77
4/25/2056
5.0
168
0.4
BROWN & BROWN INC
FIXED INCOME
115236AL5
175,000
6/23/2032
5.3
168
0.4
MIDCAP FINANCIAL ISSR TR
FIXED INCOME
59567LAA2
167,000
5/1/2028
6.5
166
0.4
FR SD1475
FIXED INCOME
3132DNT86
177,878.86
8/1/2052
4.5
162
0.4
SUBWAY 2024-1A A2I
FIXED INCOME
864300AA6
163,095
7/30/2054
6.0
162
0.4
TRITON CONTAINER/TAL INT
FIXED INCOME
89681LAA0
184,000
3/15/2032
3.3
159
0.4
FR SL3870
FIXED INCOME
31427RJQ4
175,702.76
9/1/2050
4.0
157
0.4
FN CB4307
FIXED INCOME
3140QPYD3
167,051.09
8/1/2052
5.0
157
0.4
FN FA3818
FIXED INCOME
3140W4G43
175,281.27
8/1/2051
4.0
156
0.4
FN FM8779
FIXED INCOME
3140XCXH6
194,287.83
9/1/2051
2.5
155
0.4
FR SL1021
FIXED INCOME
31427ND30
184,879.67
7/1/2051
3.0
154
0.4
BROOKFIELD FINANCE INC
FIXED INCOME
11271LAN2
165,000
1/15/2055
6.3
154
0.4
BMARK 2019-B10 A4
FIXED INCOME
08162VAE8
157,000
3/15/2062
3.7
150
0.4
ATHENE GLOBAL FUNDING
FIXED INCOME
04685A4Y4
152,000
6/1/2029
5.1
149
0.4
FR SD7557
FIXED INCOME
3132DVME2
162,567.08
12/1/2052
4.5
148
0.4
FN FM1533
FIXED INCOME
3140X4V37
165,823.03
2/1/2048
4.0
148
0.4
GLOBAL ATLANTIC FIN CO
FIXED INCOME
37959GAB3
170,000
6/15/2031
3.1
147
0.4
KKR GRP FIN CO VI LLC
FIXED INCOME
48252AAA9
152,000
7/1/2029
3.8
145
0.4
RIO GRANDE LNG LLC
FIXED INCOME
76711AAD9
154,000
6/30/2036
5.8
145
0.4
GGAM FINANCE LTD
FIXED INCOME
36170JAE6
147,000
3/15/2030
5.9
145
0.4
G2 MA8879
FIXED INCOME
36179X2L9
149,627.57
5/20/2053
5.5
144
0.4
CHARLES SCHWAB CORP
FIXED INCOME
808513CM5
149,000
12/31/2099
6.1
144
0.4
BMARK 2021-B28 A5
FIXED INCOME
08163GAU4
169,000
8/15/2054
2.2
143
0.4
JPMMT 2025-11 A4
FIXED INCOME
46662QAQ7
145,755.87
5/25/2056
5.5
143
0.4
CMS ENERGY CORP
FIXED INCOME
125896BV1
158,000
12/1/2050
3.8
143
0.4
BANK 2020-BN30 A4
FIXED INCOME
06541UBW5
165,000
12/15/2053
1.9
142
0.4
SDCP 2025-2 A2
FIXED INCOME
78520EAJ5
146,000
4/20/2050
6.0
141
0.4
TCN 2023-SFR2 A
FIXED INCOME
895978AA2
143,575.43
12/17/2040
5.0
141
0.4
DPABS 2021-1A A2I
FIXED INCOME
25755TAN0
148,792.5
4/25/2051
2.7
140
0.4
FN MA3416
FIXED INCOME
31418CYN8
154,388.44
7/1/2048
4.5
140
0.4
EXELON CORP
FIXED INCOME
30161NAV3
182,000
4/15/2046
4.5
139
0.4
LADDER CAP FIN LLLP/CORP
FIXED INCOME
505742AS5
141,000
8/1/2030
5.5
137
0.4
BELL 2021-1A A2II
FIXED INCOME
87342RAH7
147,375
8/25/2051
2.3
136
0.4
JPMMT 2024-3 A6
FIXED INCOME
46657QAP6
149,021.22
5/25/2054
3.0
136
0.4
BLACKSTONE HOLDINGS FINA
FIXED INCOME
09261BAK6
134,000
4/22/2033
6.2
136
0.4
US TREASURY N/B
FIXED INCOME
912810UM8
156,000
8/15/2055
4.8
135
0.4
FR ZT0541
FIXED INCOME
3132ACS68
151,339.15
6/1/2048
4.0
135
0.4
GENPACT UK/USA INC
FIXED INCOME
37256EAA0
140,000
11/18/2030
5.0
134
0.4
FR ZS4693
FIXED INCOME
3132A5GA7
159,747.13
12/1/2046
3.0
134
0.4
DNKN 2021-1A A2II
FIXED INCOME
233046AQ4
142,875
11/20/2051
2.5
134
0.4
CAPITAL ONE FINANCIAL CO
FIXED INCOME
14040HDH5
137,000
7/26/2035
5.9
133
0.4
KIND 2024-1 A
FIXED INCOME
494925AA8
132,000
8/15/2041
5.7
132
0.3
FN MA3305
FIXED INCOME
31418CU77
152,516.76
3/1/2048
3.5
131
0.3
FN BM5019
FIXED INCOME
3140J9SH5
142,546.47
12/1/2047
4.0
128
0.3
BBCMS 2019-C3 A3
FIXED INCOME
05550MAS3
131,669.52
5/15/2052
3.3
126
0.3
BMARK 2025-V14 A4
FIXED INCOME
08164BAD2
126,000
4/15/2057
5.7
126
0.3
CVS PASS-THROUGH TRUST
FIXED INCOME
126650BY5
127,024.83
1/10/2034
5.9
125
0.3
BX 2024-BIO A
FIXED INCOME
05612AAA4
125,000
2/15/2041
5.5
124
0.3
AESOP 2024-3A A
FIXED INCOME
05377RJK1
125,000
12/20/2030
5.2
124
0.3
UNITED AIR 2019-2 AA PTT
FIXED INCOME
90932JAA0
136,226.29
11/1/2033
2.7
121
0.3
JPMMT 2025-8 A4A
FIXED INCOME
46660AAE1
123,439.23
2/25/2056
5.5
121
0.3
QTS 2025-1A A2
FIXED INCOME
74690DAA9
122,000
5/25/2055
5.4
118
0.3
KBR INC
FIXED INCOME
48242WAC0
121,000
9/30/2028
4.8
118
0.3
MSRM 2026-NQM8 A1
FIXED INCOME
61781CAC4
119,702.77
6/25/2071
5.5
118
0.3
MSRM 2026-NQM5 A1
FIXED INCOME
61781AAC8
118,696.89
4/27/2071
5.5
117
0.3
LITHIA MOTORS INC
FIXED INCOME
536797AG8
123,000
6/1/2029
3.9
116
0.3
EVERSOURCE ENERGY
FIXED INCOME
30040WBC1
119,000
8/15/2056
6.1
115
0.3
WFCM 2026-1250B A
FIXED INCOME
949939AA0
118,000
3/10/2041
4.8
115
0.3
NEW ENGLAND POWER CO
FIXED INCOME
644188BH6
125,000
11/25/2052
5.9
114
0.3
STR 2026-1A A1
FIXED INCOME
86212FAH2
119,800
6/20/2056
5.2
114
0.3
PEDIATRIX MEDICAL GROUP
FIXED INCOME
58502BAE6
117,000
2/15/2030
5.4
113
0.3
MAREX GROUP PLC
FIXED INCOME
566539AA0
113,000
11/4/2029
6.4
113
0.3
SBAP 2024-25D 1
FIXED INCOME
83162CW74
114,851.96
4/1/2049
5.4
112
0.3
FN BT9482
FIXED INCOME
3140LYRC9
141,016.19
12/1/2051
2.5
112
0.3
FR SD7440
FIXED INCOME
3132DVHR9
120,203.58
1/1/2055
5.0
112
0.3
ACADEMY LTD
FIXED INCOME
00401YAB6
115,000
5/15/2031
5.9
112
0.3
JIMMY 2026-1A A2
FIXED INCOME
47760QAJ2
115,000
4/30/2056
5.7
112
0.3
NYC 2026-9W57 A
FIXED INCOME
62957YAA6
116,000
6/6/2040
5.1
112
0.3
MAD 2025-11MD A
FIXED INCOME
55616AAA5
116,000
10/15/2042
4.9
111
0.3
GGP 2026-NM A
FIXED INCOME
36174BAA7
111,000
10/5/2043
1.0
111
0.3
FR SL4462
FIXED INCOME
31427R5Y2
115,492.41
10/1/2053
5.5
111
0.3
BLUE OWL FINANCE LLC
FIXED INCOME
09581JAV8
117,000
8/18/2036
6.8
111
0.3
CONE 2026-ACD6 A
FIXED INCOME
12637SAA2
115,000
7/15/2043
6.1
111
0.3
WEN 2019-1A A2II
FIXED INCOME
95058XAH1
119,513.42
6/15/2049
4.1
111
0.3
FR SD5250
FIXED INCOME
3132DSZP0
138,469.68
4/1/2052
2.5
111
0.3
BANK OF AMERICA CORP
FIXED INCOME
06051GMQ9
115,000
2/12/2036
5.7
110
0.3
ADT SEC CORP
FIXED INCOME
00109LAB9
118,000
10/15/2033
5.9
110
0.3
NRG ENERGY INC
FIXED INCOME
629377DD1
118,000
1/15/2036
6.0
110
0.3
HUT 8 DC LLC
FIXED INCOME
44813DAA4
117,000
11/15/2042
6.2
110
0.3
FN FS7948
FIXED INCOME
3140XPZN2
136,271.74
4/1/2052
2.5
109
0.3
DAVITA INC
FIXED INCOME
23918KAT5
121,000
2/15/2031
3.8
109
0.3
GOLUB CAPITAL BDC
FIXED INCOME
38173MAD4
107,000
12/5/2028
7.0
109
0.3
SPACE EXPLORATION TECH
FIXED INCOME
84615QAC7
116,000
7/15/2033
5.7
108
0.3
G2 MA5399
FIXED INCOME
36179T7L3
116,943.2
8/20/2048
4.5
108
0.3
CHARTER COMM OPT LLC/CAP
FIXED INCOME
161175AZ7
118,000
10/23/2035
6.4
108
0.3
ROLLINS INC
FIXED INCOME
775711AC8
115,000
2/24/2035
5.3
108
0.3
APPLOVIN CORP
FIXED INCOME
03831WAC2
110,000
12/1/2031
5.4
107
0.3
VERIZON COMMUNICATIONS
FIXED INCOME
92343VHP2
113,000
5/14/2058
6.0
107
0.3
SBAP 2024-25E 1
FIXED INCOME
83162CX24
109,341.08
5/1/2049
5.2
106
0.3
BFLD 2025-5MW A
FIXED INCOME
088921AA9
110,000
10/10/2042
4.8
106
0.3
BERKSHIRE HATHAWAY ENERG
FIXED INCOME
59562VAM9
105,000
4/1/2036
6.1
106
0.3
EPR PROPERTIES
FIXED INCOME
26884UAH2
110,000
11/15/2030
4.8
105
0.3
FR ZA6116
FIXED INCOME
31329PYM9
113,064.33
1/1/2049
4.5
104
0.3
JPMMT 2025-7MPR A1D
FIXED INCOME
46594CAE8
105,047.56
2/25/2056
5.3
104
0.3
STANDARD BUILDING SOLUTI
FIXED INCOME
853192AA0
112,000
3/15/2034
5.9
104
0.3
G2 MA7880
FIXED INCOME
36179WXH6
135,032.47
2/20/2052
2.0
104
0.3
BSTN 2025-1C A
FIXED INCOME
05615EAA3
106,000
6/15/2044
5.5
103
0.3
FN FA4882
FIXED INCOME
3140W5M84
103,583.57
1/1/2056
6.0
103
0.3
WHARF 2025-DC A
FIXED INCOME
92987LAA5
104,000
7/15/2040
5.5
102
0.3
SLM CORP
FIXED INCOME
78442PGG5
105,000
5/15/2032
6.5
102
0.3
SIRIUS XM RADIO LLC
FIXED INCOME
82966BAA3
108,000
4/15/2032
5.9
101
0.3
FN CB8543
FIXED INCOME
3140QUP59
101,618.97
5/1/2054
6.0
100
0.3
JPMCC 2024-OMNI A
FIXED INCOME
46593JAA2
100,000
10/5/2039
6.0
100
0.3
FN MA3148
FIXED INCOME
31418CQA5
115,315.62
10/1/2047
3.5
100
0.3
BLUE OWL CREDIT INCOME
FIXED INCOME
09581CAB7
100,000
9/15/2029
6.6
99
0.3
GOLUB CAPITAL CAP FND
FIXED INCOME
38179RAB1
101,000
9/12/2029
5.8
99
0.3
SWCH 2025-DATA A
FIXED INCOME
78489CAA7
100,000
2/15/2042
5.3
99
0.3
TRINITY CAPITAL INC/MD
FIXED INCOME
896442AL4
100,000
5/21/2031
7.0
99
0.3
FR SD5191
FIXED INCOME
3132DSXU1
102,200.29
3/1/2054
5.5
98
0.3
NYC 2025-28L A
FIXED INCOME
67123JAA7
100,000
11/5/2038
4.8
98
0.3
DATA 2026-800D A
FIXED INCOME
23803AAA6
100,000
9/10/2048
6.4
98
0.3
BMARK 2021-B28 A3
FIXED INCOME
08163GAS9
107,000
8/15/2054
2.1
98
0.3
TCN 2024-SFR2 A
FIXED INCOME
89616VAA8
99,419.58
6/17/2040
4.8
98
0.3
LV 2024-SHOW A
FIXED INCOME
50245XAA5
100,000
10/10/2041
5.3
98
0.3
FN FS2018
FIXED INCOME
3140XHG43
106,830.21
3/1/2050
4.5
98
0.3
MNET 2025-4A A2
FIXED INCOME
59170JBD9
101,000
12/20/2055
5.2
98
0.3
SYSCO HOLD/SYSC CORP
FIXED INCOME
87183XAH6
97,000
10/6/2056
7.1
97
0.3
CENT 2025-CITY A
FIXED INCOME
12517TAA5
100,000
7/10/2040
5.1
97
0.3
BFLD 2025-FPM A
FIXED INCOME
05556HAA7
100,000
10/10/2040
5.2
97
0.3
VICI PROPERTIES LP
FIXED INCOME
925650AF0
99,000
4/1/2034
5.8
95
0.3
FORTITUDE GROUP HOLDINGS
FIXED INCOME
34966XAA6
95,000
4/1/2030
6.3
95
0.3
ORACLE CORP
FIXED INCOME
68389XBW4
145,000
4/1/2040
3.6
95
0.3
FR SD7552
FIXED INCOME
3132DVL94
117,815.87
1/1/2052
2.5
94
0.2
APTIV SWISS HOLDINGS LTD
FIXED INCOME
00217GAC7
139,000
5/1/2052
4.2
94
0.2
OBX 2026-NQM7 A1
FIXED INCOME
67124HAC6
95,790.52
4/25/2066
5.2
94
0.2
SKYDANCE CORP
FIXED INCOME
69932AAN5
95,000
10/15/2031
8.3
93
0.2
PROG 2024-SFR3 A
FIXED INCOME
74331VAA4
99,181.82
6/17/2041
3.0
92
0.2
LATAM AIRLINES GROUP SA
FIXED INCOME
51817RAE6
91,000
1/7/2031
7.6
92
0.2
FORTITUDE GLOBAL FUNDING
FIXED INCOME
34967GAB0
94,000
6/12/2031
5.5
91
0.2
JPMMT 2021-6 A12
FIXED INCOME
46653PBJ5
98,210.96
10/25/2051
5.0
90
0.2
AMERICAN EXPRESS CO
FIXED INCOME
025816EV7
91,000
12/31/2099
6.5
90
0.2
FN FM3181
FIXED INCOME
3140X6RB9
99,809.7
4/1/2050
4.0
89
0.2
CDW LLC/CDW FINANCE
FIXED INCOME
12513GBF5
93,000
2/15/2029
3.3
88
0.2
SBIC 2023-10A 1
FIXED INCOME
83162CS79
89,465.9
3/10/2033
5.2
88
0.2
BBCMS 2022-C15 A5
FIXED INCOME
05552FBA4
99,000
4/15/2055
3.7
88
0.2
WEC ENERGY GROUP INC
FIXED INCOME
92939UAU0
91,000
5/15/2056
5.6
87
0.2
FG G16607
FIXED INCOME
3128MFR42
90,545.48
9/1/2033
3.5
87
0.2
FN BM4882
FIXED INCOME
3140J9M81
94,224.66
11/1/2048
4.5
87
0.2
SIXTH STREET LENDING PAR
FIXED INCOME
829932AB8
86,000
3/11/2029
6.5
86
0.2
GLOBAL ATLANTIC FIN CO
FIXED INCOME
37959GAD9
82,000
6/15/2033
8.0
86
0.2
DAE AIRFINANCE HLDS LTD
FIXED INCOME
55609NAE8
88,000
3/17/2030
5.2
86
0.2
FLORIDA GAS TRANSMISSION
FIXED INCOME
340711BC3
88,000
7/15/2035
5.8
85
0.2
BANK 2021-BN33 A3
FIXED INCOME
06541CBD7
90,339.32
5/15/2064
2.0
85
0.2
CMDC 2025-3A A2
FIXED INCOME
20469BAD9
88,000
7/25/2050
5.3
85
0.2
SBAP 2017-20I 1
FIXED INCOME
83162CYW7
94,946.72
9/1/2037
2.6
85
0.2
GROUP 1 AUTOMOTIVE INC
FIXED INCOME
398905AS8
87,000
2/1/2032
6.3
84
0.2
BLUE OWL TECHNOLOGY FINA
FIXED INCOME
095924AD8
86,000
10/15/2029
6.5
84
0.2
FN CA7514
FIXED INCOME
3140QFK40
92,368.9
10/1/2035
2.5
84
0.2
EMBRAER NETHERLANDS FINA
FIXED INCOME
29082HAE2
83,000
2/11/2035
6.0
82
0.2
NEXTERA ENERGY CAPITAL
FIXED INCOME
65339KDE7
83,000
8/15/2055
6.4
82
0.2
HERCULES CAPITAL INC
FIXED INCOME
427096AN2
84,000
6/16/2030
6.0
82
0.2
SEMT 2025-5 A5
FIXED INCOME
81743GAE6
81,950.67
6/25/2055
5.5
81
0.2
NATIONAL RURAL UTIL COOP
FIXED INCOME
637432PB5
79,000
9/15/2053
7.1
81
0.2
JMIKE 2024-1A A2
FIXED INCOME
476681AD3
82,740
2/15/2055
5.6
80
0.2
UNIT 2025-2A A2
FIXED INCOME
91326EAG0
84,000
1/20/2056
5.2
80
0.2
ARBYS 2026-1A A2
FIXED INCOME
038779AD6
80,000
10/30/2056
6.4
79
0.2
VERISK ANALYTICS INC
FIXED INCOME
92345YAL0
83,000
3/15/2035
5.3
78
0.2
AIRCASTLE LTD
FIXED INCOME
00928QAY7
77,000
2/15/2029
6.0
77
0.2
FN MA3182
FIXED INCOME
31418CRC0
89,666.17
11/1/2047
3.5
77
0.2
BLACK PEARL COMPUTE LLC
FIXED INCOME
09216NAA8
76,000
2/15/2031
6.1
75
0.2
FR SD8474
FIXED INCOME
3132DWMX8
80,613.67
11/1/2054
5.0
75
0.2
FG G16524
FIXED INCOME
3128MFPH5
76,624.01
5/1/2033
3.5
74
0.2
FR SB8047
FIXED INCOME
3132D55G3
76,276.04
5/1/2035
3.5
72
0.2
US TREASURY N/B
FIXED INCOME
912810UN6
79,000
8/15/2045
4.9
71
0.2
SUBWAY 2024-1A A2II
FIXED INCOME
864300AC2
72,705
7/30/2054
6.3
71
0.2
STANDARD INDUSTRI INC/NY
FIXED INCOME
853496AG2
75,000
7/15/2030
4.4
70
0.2
GLP CAPITAL LP / FIN II
FIXED INCOME
361841AP4
73,000
1/15/2030
4.0
68
0.2
BX 2024-XL4 A
FIXED INCOME
05611VAA9
67,910.23
2/15/2039
5.3
68
0.2
COPT DEFENSE PROP LP
FIXED INCOME
22003BAP1
83,000
12/1/2033
2.9
68
0.2
UNITK 2026-1A A2
FIXED INCOME
49459AAA8
70,000
2/25/2056
5.2
67
0.2
ENBRIDGE INC
FIXED INCOME
29250NBC8
68,000
7/15/2080
5.8
67
0.2
CYPRIUM CORP/CYPRIUM HOL
FIXED INCOME
23292NAA6
68,000
4/15/2031
6.1
66
0.2
FN FM4512
FIXED INCOME
3140X8AN7
74,786.97
4/1/2050
3.5
65
0.2
SEMT 2025-7 A11
FIXED INCOME
81749VAL1
64,960.23
8/25/2055
5.5
65
0.2
CMLTI 2025-1 A8
FIXED INCOME
17332FAH2
64,647.11
1/25/2055
5.5
64
0.2
BLUE OWL CAPITAL CORP
FIXED INCOME
69121KAG9
67,000
6/11/2028
2.9
63
0.2
BOOZ ALLEN HAMILTON INC
FIXED INCOME
09951LAA1
65,000
9/1/2028
3.9
63
0.2
DAE AIRFINANCE HLDS LTD
FIXED INCOME
55609NAC2
62,000
3/26/2029
6.4
63
0.2
FN FS4760
FIXED INCOME
3140XLJE9
66,565.77
4/1/2036
2.5
62
0.2
FN FS8150
FIXED INCOME
3140XQBU0
67,623.12
8/1/2035
2.5
62
0.2
BX 2024-XL5 A
FIXED INCOME
05612GAA1
61,453.13
3/15/2041
5.2
62
0.2
ROGERS COMMUNICATIONS IN
FIXED INCOME
775109AL5
58,000
8/15/2038
7.5
61
0.2
JPMMT 2023-4 1A4A
FIXED INCOME
46656QAE2
60,746.48
11/25/2053
5.5
60
0.2
DOMINION ENERGY INC
FIXED INCOME
25746UDT3
58,000
2/1/2055
6.9
58
0.2
GFL ENVIRONMENTAL HOL
FIXED INCOME
36273TAA8
64,000
2/1/2034
5.5
58
0.2
MAIN STREET CAPITAL CORP
FIXED INCOME
56035LAH7
56,000
3/1/2029
7.0
57
0.1
GULFSTREAM NATURAL GAS
FIXED INCOME
402740AG9
58,000
7/23/2035
5.6
56
0.1
TPMT 2018-3 A1
FIXED INCOME
89175MAA1
56,405.97
5/25/2058
3.8
55
0.1
WAYFAIR LLC
FIXED INCOME
94419NAD9
54,000
5/31/2034
7.1
54
0.1
SBAP 2010-20G 1
FIXED INCOME
83162CTK9
54,726.04
7/1/2030
3.8
53
0.1
JPMMT 2025-5MPR A1D
FIXED INCOME
46593VAD9
52,268.52
11/25/2055
5.5
52
0.1
NORFOLK SOUTHERN CORP
FIXED INCOME
655844BV9
71,000
8/15/2052
4.0
50
0.1
CMLTI 2025-3 A11
FIXED INCOME
17332RAL7
49,448.74
6/25/2055
5.5
49
0.1
SIXTH STREET LENDING PAR
FIXED INCOME
829932AD4
50,000
1/15/2030
5.8
49
0.1
FNR 2021-67 AI
FIXED INCOME
3136BJCS2
715,735.89
10/25/2051
1.3
48
0.1
CHASE 2025-9 A4A
FIXED INCOME
16160UAE5
48,711.6
6/25/2056
5.5
48
0.1
EQT 2024-EXTR A
FIXED INCOME
29439DAA9
48,486.5
7/5/2041
5.3
48
0.1
OAKTREE SPECIALTY LEND
FIXED INCOME
67401PAC2
45,000
1/15/2027
2.7
45
0.1
FHR 5530 CI
FIXED INCOME
3137HKTJ3
180,351.19
4/25/2055
5.5
42
0.1
WAYFAIR LLC
FIXED INCOME
94419NAA5
40,000
10/31/2029
7.3
41
0.1
FHR 5123 IJ
FIXED INCOME
3137H15U6
216,119.13
7/25/2051
3.5
40
0.1
HERCULES CAPITAL INC
FIXED INCOME
427096AP7
40,000
10/8/2029
6.7
40
0.1
CONOCOPHILLIPS COMPANY
FIXED INCOME
20826FBG0
44,000
3/15/2054
5.5
39
0.1
FHS 416 C12
FIXED INCOME
3142G95G1
163,280.87
7/25/2054
4.0
37
0.1
SEMT 2024-6 A5
FIXED INCOME
81743DAE3
34,987.72
7/27/2054
6.0
35
0.1
MACY'S RETAIL HLDGS LLC
FIXED INCOME
55617LAS1
34,000
8/1/2033
7.4
35
0.1
GFL ENVIRONMENTAL HOL
FIXED INCOME
36273TAB6
36,000
7/1/2031
5.6
34
0.1
FHR 5013 ID
FIXED INCOME
3137FW3A6
271,256.2
9/25/2050
3.0
34
0.1
DELTA AIR LINES 2020-AA
FIXED INCOME
247361ZV3
34,626.77
12/10/2029
2.0
33
0.1
FHS 414 C6
FIXED INCOME
3142G9WK2
219,248.6
4/25/2039
4.0
31
0.1
FHR 5116 AI
FIXED INCOME
3137H0JC3
466,955.25
8/25/2035
2.5
31
0.1
FHR 4997 IO
FIXED INCOME
3137FU4L5
256,271.33
6/25/2046
2.5
30
0.1
GNR 2018-72 IC
FIXED INCOME
38380WG94
185,695.15
5/20/2045
4.0
29
0.1
FR SB0307
FIXED INCOME
3132CWKU7
31,470.47
2/1/2035
2.5
29
0.1
FHR 4648 KI
FIXED INCOME
3137BUKQ0
151,483.76
8/15/2044
4.5
27
0.1
FNS 433 C3
FIXED INCOME
31423XYD7
402,279.57
8/25/2037
2.0
27
0.1
SEMT 2024-5 A5
FIXED INCOME
81743CAE5
26,768.08
6/25/2054
6.0
27
0.1
SOPAIPILLA INVESTOR LLC
FIXED INCOME
83577VAA8
26,000
11/30/2048
7.5
26
0.1
EMBRAER NETHERLANDS FINA
FIXED INCOME
29082HAF9
28,000
1/9/2038
5.4
26
0.1
GSMBS 2024-PJ5 A15
FIXED INCOME
36269XAZ0
25,100.01
9/25/2054
6.0
25
0.1
UNIT 2025-1A A2
FIXED INCOME
91326EAA3
25,000
4/20/2055
5.9
25
0.1
JPMMT 2024-5 A4
FIXED INCOME
46658RAD0
23,876.22
11/25/2054
6.0
24
0.1
FHS 414 C2
FIXED INCOME
3142G9VA5
406,007.3
4/25/2037
2.0
23
0.1
FHR 5035 IJ
FIXED INCOME
3137F6F69
196,649.98
2/25/2050
2.0
23
0.1
COLUMBIA PIPELINES OPCO
FIXED INCOME
19828TAH9
23,000
2/15/2055
6.0
21
0.1
GNR 2021-137 NI
FIXED INCOME
38382WWT0
155,529.15
8/20/2051
3.0
20
0.1
FNS 427 C55
FIXED INCOME
31423XPH8
383,526.07
2/25/2037
1.5
19
0.1
FNS 429 C11
FIXED INCOME
31423YVT3
403,582.33
3/25/2038
1.5
18
0.0
FHS 414 C1
FIXED INCOME
3142G9UX6
356,268.12
3/25/2037
1.5
18
0.0
FNS 435 C20
FIXED INCOME
31424UAV8
94,906.7
5/25/2053
5.0
18
0.0
FNR 2020-81 AI
FIXED INCOME
3136BCKZ2
369,998.18
11/25/2035
1.5
18
0.0
FNS 444 C2
FIXED INCOME
31424VB60
320,043.8
10/25/2037
2.0
17
0.0
FHS 400 C14
FIXED INCOME
3142G4Z79
265,361.75
7/25/2037
2.0
17
0.0
FHR 5462 IO
FIXED INCOME
3137HFQ57
267,917.94
5/25/2037
2.0
17
0.0
FHR 4733 EI
FIXED INCOME
3137FBSB3
116,819.86
7/15/2041
5.0
16
0.0
GNR 2020-146 IG
FIXED INCOME
38382KVR1
103,717.43
9/20/2046
5.5
16
0.0
FHR 5347 AS
FIXED INCOME
3137HANL6
247,828.81
10/25/2053
2.8
16
0.0
FHR 5158 BI
FIXED INCOME
3137H3XV9
219,575.71
5/25/2035
3.0
16
0.0
CONOCOPHILLIPS COMPANY
FIXED INCOME
20826FBM7
17,000
1/15/2055
5.5
15
0.0
FNS 435 C4
FIXED INCOME
31424UAD8
162,280
10/25/2037
3.0
11
0.0
GNR 2019-35 SE
FIXED INCOME
38381RM71
359,409.81
1/16/2044
2.2
10
0.0
COREBRIDGE FINANCIAL INC
FIXED INCOME
21871XAU3
8,000
12/31/2099
6.9
8
0.0
GNR 2024-107 IO
FIXED INCOME
38384PH45
29,532.03
6/20/2054
6.5
5
0.0
Total
--
--
--
--
--
37,392
100.3
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
-0.3
Total Net Assets
--
--
--
--
--
--
100.0

As of 8/31/2026

Sector Breakdown

Securitized

AGGS

50.2%

Benchmark

25.2%

Credit

AGGS

29.8%

Benchmark

27.5%

Government

AGGS

19.5%

Benchmark

46.8%

Municipal

AGGS

0.0%

Benchmark

0.4%

AGGS: Disciplined Bond ETF

Benchmark: Bloomberg US Aggregate Bond Index

As of 8/31/2026

Maturity
Disciplined Bond ETF %
Bloomberg US Aggregate Bond Index %
0-1 yr
2.7
0.0
1-3 yr
14.5
23.5
3-5 yr
18.1
18.6
5-7 yr
16.3
14.3
7-10 yr
25.6
25.5
10-20 yr
11.4
8.1
20-30 yr
10.2
9.3
Over 30 yr
1.2
0.7

As of 8/31/2026

Duration
Disciplined Bond ETF %
Bloomberg US Aggregate Bond Index %
0-1 yr
6.0
0.5
1-3 yr
17.5
25.6
3-5 yr
25.9
24.8
5-7 yr
22.6
20.9
7-10 yr
12.2
12.0
10-20 yr
15.7
16.2
20-30 yr
0.0
--
Over 30 yr
0.0
--

Investment Team

Income Research + Management logo on white background

Income Research + Management is a privately‑owned, independent, fixed income investment management firm that serves institutional and private clients. They believe that an open, collaborative culture promotes excellence from an investment team of high energy, curious individuals. IR+M’s investment philosophy and process are based on their belief that careful security selection and active risk management provide strong results over the long‑term. By combining the capacity and technology of a larger firm with the culture and nimbleness of a boutique firm, the firm strives to provide exceptional service for their clients and a rewarding experience for their employees.

James E. Gubitosi

James E. Gubitosi

CFA, Co-Chief Investment Officer

Mike Sheldon

Mike Sheldon

CFA, Co-Chief Investment Officer

Bill O’Neill

Bill O’Neill

CFA, Principal and Senior Portfolio Manager

Jake Remley

Jake Remley

CFA, Principal and Senior Portfolio Manager

Matt Walker

Matt Walker

CFA, Principal & Senior Portfolio Manager

Rachel Campbell

Rachel Campbell

Director of Securitized Research, Portfolio Manager

Wesly Pate

Wesly Pate

CFA, Senior Portfolio Manager

Ginny Schiappa

Ginny Schiappa

CFA, Senior Portfolio Manager

Important Information

Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

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. Fixed income investments are affected by interest rate changes and the creditworthiness of the issues held by the Fund. As interest rates rise, the values of fixed income securities held by the Fund are likely to decrease and reduce the value of the Fund's portfolio. There may be a greater risk that the Fund could lose money due to prepayment and extension risks because the Fund invests, at times, in mortgage‑related and/or asset backed securities. 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. High‑yield investing poses additional credit risk related to lower‑rated bonds.

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).

Duration is a commonly used measure of the sensitivity of the price of a debt security, or aggregate market value of a portfolio of debt securities, to change in interest rates. Modified Duration measures the change in the value of a security in response to the change in interest rates. Securities with a longer duration are more sensitive to changes in interest rates and generally have more volatile prices than securities of comparable quality with a shorter duration.

Wtd. Avg. Market Coupon (%): the weighted average coupon rate of the underlying bonds in the Fund.

Wtd. Avg. Maturity (yrs): the weighted average length of time to the repayment of principal for the securities in the Fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

Wtd. Avg. Duration (yrs): the weight average duration of the underlying bonds or derivative market exposures in the Fund. Duration is a time measure of a bond's interest‑rate sensitivity. The longer a fund's duration, the more sensitive the fund is to shifts in interest rates

The Morningstar Medalist Ratings are shown for funds that have received a rating of Gold, Silver, or Bronze. The funds shown without Medalist Ratings may not have received a Medalist Rating or may have received lower ratings.

The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward‑looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk‑adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures/.

The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.

©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Harbor Capital provides compensation in connection with obtaining or using third‑party ratings and rankings.