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Harbor Human Capital Factor US Large Cap ETF (HAPI)

Access the link between strong corporate culture and potential equity value.

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Overview
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Holdings
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Research Suggests That Doing the Right Thing Pays.

Harbor Capital has partnered with Irrational Capital to develop a data-driven strategy built on the Human Capital Factor.

What is the Human Capital Factor? It’s a systematic measure of corporate culture that seeks to deeply understand the importance and value created between human capital and potential equity performance. In other words, the Human Capital Factor is based on the premise that happy and motivated employees can generate better outcomes for companies and investors.

HAPI offers exposure to larger capitalization companies with strong Human Capital Factor scores while constraining sectors to enhance overall diversification.


BE HAPI

assets0
assets0M+

assets0M+

The above figures represent Irrational Capital’s full data set. A subset of this data is used in constructing HAPI. Source: Irrational Capital. As of 3/31/2023.

Differentiated Research that Seeks to Uncover Alpha
  • Irrational Capital looks to identify companies with strong employer/employee relationships.
  • The Human Capital Factor seeks to deeply understand company culture and intrinsic employee motivation as a potential driver of stock performance.
  • Focused on capturing and investing in the benefits that strong corporate culture may have on a company's stock price.
employees_icon.png
Invests in Human Capital.

The Human Capital Factor measures intrinsic and extrinsic motivation that  establishes the relationship between employee well-being and business fundamentals which, in turn, could impact equity performance.

public_companies_icon.png
Outcome Oriented. Socially Conscious.

The Human Capital Factor offers a socially conscious, systematic measure of business fundamentals.

data_points_icon.png
Backed by Data.

The Human Capital Factor is grounded in proprietary data that seeks to prove "doing the right thing" can pay. 

Overview

Investment Team
Harbor Capital Advisors, Inc. dark blue logo on white background

Current Price

As of 12/1/2023

$27.25

Price (NAV)

$0.14

NAV Daily Change ($)

0.52%

NAV Daily Change (%)

25.46%

NAV YTD Return

$27.25

Market Price

$0.14

Market Daily Change ($)

0.52%

Market Daily Change (%)

25.46%

Market YTD Return

Fund Facts

As of 12/1/2023

10/12/2022

Inception Date

0.36

Expense Ratio (%)
disclaimer

$271.099

Total Net Assets (million)

9,950,000

Shares Outstanding
(As of 12/4/2023)

HAPI

Ticker

41151J604

Cusip

NYSE

Exchange

US41151J8779

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Large Blend

Morningstar Category

CIBC Human Capital Index

Benchmark

Investment Objective:

The Fund seeks to provide investment results that correspond, before fees and expenses, to the performance of the CIBC Human Capital Index.

Morningstar Medalist Rating™

Morningstar Bronze
Analyst-Driven %
10
Data Coverage %
77
As of 7/31/2023

Pricing/Trading

As of 12/1/2023

$27.25

Bid/Ask Mid Price

$27.25

Closing Market Price

$0.00

Premium/Discount ($)

0.01%

Premium/Discount (%)

0.19%

30-Day Median Bid/Ask Spread

303

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

Performance

Total Returns

Quarter-End

3 Mo.

YTD Return

Since Inception

Net Expense Ratio

Gross Expense Ratio

Human Capital Factor US Large Cap ETF - at NAV
-1.88%
17.54%
28.28%
0.36%disclaimer
0.36%
Fund Market Price
-1.92%
17.54%
28.28%
--
--
CIBC Human Capital Index
-1.85%
17.66%
28.52%
--
--
S&P 500 Index
-3.27%
13.07%
21.85%
--
--

Performance data shown represents past performance and is no guarantee of future results. 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. 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 CIBC Human Capital Index consists of a modified market-weighted portfolio of the equity securities of U.S. companies identified by Irrational Capital LLC (“Irrational Capital”) as those it believes to possess strong corporate culture based on its proprietary scoring methodology. Constituents eligible are chosen from Solactive GBS United States 500 Index (the “index universe”) at the time of Index reconstitution. The Solactive GBS United States 500 Index intends to track the performance of the largest 500 companies from the US stock market. The index listed is unmanaged and does not reflect fees and expenses and is not available for direct investment.

The S&P 500 Index is an unmanaged index generally representative of the U.S. market for large capitalization equities. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

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
0.06304
0.00056
--
0.06360

Holdings

Portfolio Characteristics

As of 10/31/2023

152

Number of Holdings

583924.6

Wtd Avg Market Cap ($Mil)

6.05

Price/Book Ratio

26.5

Adjusted Trailing P/E Ratio

24.2

% EPS Growth - Past 3 Yr

23.62

Return on Equity (%)

23.1

Forecasted P/E Ratio

Top Ten Holdings

As of 11/30/2023

Company Name [Ticker]

% of Net Assets

MICROSOFT CORP[MSFT]
6.1
CONSUMER DISCRETIONARY SELT[XLY]
6.0
APPLE INC[AAPL]
5.4
NVIDIA CORP[NVDA]
4.4
ALPHABET INC-CL A[GOOGL]
3.8
ALPHABET INC-CL C[GOOG]
3.5
ELI LILLY & CO[LLY]
3.2
MASTERCARD INC - A[MA]
3.2
META PLATFORMS INC-CLASS A[META]
2.9
BERKSHIRE HATHAWAY INC-CL B[BRK/B]
2.8
% of Total Holdings:
41.3%

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

As of 11/30/2023

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

MICROSOFT CORP [MSFT]
EQUITY
594918104
43,686
378.91
16,553,062.26
6.1
CONSUMER DISCRETIONARY SELT [XLY]
EQUITY
81369Y407
95,845
168.78
16,176,719.10
6.0
APPLE INC [AAPL]
EQUITY
037833100
76,954
189.95
14,617,412.30
5.4
NVIDIA CORP [NVDA]
EQUITY
67066G104
25,391
467.70
11,875,370.70
4.4
ALPHABET INC-CL A [GOOGL]
EQUITY
02079K305
77,227
132.53
10,234,894.31
3.8
ALPHABET INC-CL C [GOOG]
EQUITY
02079K107
69,866
133.92
9,356,454.72
3.5
ELI LILLY & CO [LLY]
EQUITY
532457108
14,740
591.04
8,711,929.60
3.2
MASTERCARD INC - A [MA]
EQUITY
57636Q104
20,772
413.83
8,596,076.76
3.2
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
23,544
327.15
7,702,419.60
2.9
BERKSHIRE HATHAWAY INC-CL B [BRK/B]
EQUITY
084670702
20,631
360.00
7,427,160.00
2.8
JOHNSON & JOHNSON [JNJ]
EQUITY
478160104
46,065
154.66
7,124,412.90
2.6
PROCTER & GAMBLE CO/THE [PG]
EQUITY
742718109
38,674
153.52
5,937,232.48
2.2
COMM SERV SELECT SECTOR SPDR [XLC]
EQUITY
81369Y852
82,006
69.77
5,721,558.62
2.1
CHEVRON CORP [CVX]
EQUITY
166764100
34,975
143.60
5,022,410.00
1.9
MERCK & CO. INC. [MRK]
EQUITY
58933Y105
43,269
102.48
4,434,207.12
1.6
BOOKING HOLDINGS INC [BKNG]
EQUITY
09857L108
1,328
3,125.70
4,150,929.60
1.5
ADOBE INC [ADBE]
EQUITY
00724F101
5,639
611.01
3,445,485.39
1.3
BANK OF AMERICA CORP [BAC]
EQUITY
060505104
110,756
30.49
3,376,950.44
1.3
HONEYWELL INTERNATIONAL INC [HON]
EQUITY
438516106
17,000
195.92
3,330,640.00
1.2
PFIZER INC [PFE]
EQUITY
717081103
98,425
30.47
2,999,009.75
1.1
SALESFORCE INC [CRM]
EQUITY
79466L302
11,883
251.90
2,993,327.70
1.1
CONOCOPHILLIPS [COP]
EQUITY
20825C104
24,676
115.57
2,851,805.32
1.1
LOCKHEED MARTIN CORP [LMT]
EQUITY
539830109
6,215
447.77
2,782,890.55
1.0
UNITED PARCEL SERVICE-CL B [UPS]
EQUITY
911312106
17,683
151.61
2,680,919.63
1.0
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
47,699
55.89
2,665,897.11
1.0
AMGEN INC [AMGN]
EQUITY
031162100
9,714
269.64
2,619,282.96
1.0
DEERE & CO [DE]
EQUITY
244199105
6,982
364.41
2,544,310.62
0.9
NETFLIX INC [NFLX]
EQUITY
64110L106
5,342
473.97
2,531,947.74
0.9
PHILIP MORRIS INTERNATIONAL [PM]
EQUITY
718172109
25,152
93.36
2,348,190.72
0.9
S&P GLOBAL INC [SPGI]
EQUITY
78409V104
5,431
415.83
2,258,372.73
0.8
INTEL CORP [INTC]
EQUITY
458140100
50,244
44.70
2,245,906.80
0.8
NIKE INC -CL B [NKE]
EQUITY
654106103
19,893
109.90
2,186,240.70
0.8
ADVANCED MICRO DEVICES [AMD]
EQUITY
007903107
17,605
121.16
2,133,021.80
0.8
PROLOGIS INC [PLD]
EQUITY
74340W103
17,595
114.93
2,022,193.35
0.7
INTUITIVE SURGICAL INC [ISRG]
EQUITY
46120E602
6,282
310.84
1,952,696.88
0.7
INTUIT INC [INTU]
EQUITY
461202103
3,407
571.46
1,946,964.22
0.7
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
9,391
202.70
1,903,555.70
0.7
SCHLUMBERGER LTD [SLB]
EQUITY
806857108
34,994
52.04
1,821,087.76
0.7
GOLDMAN SACHS GROUP INC [GS]
EQUITY
38141G104
5,308
341.54
1,812,894.32
0.7
LULULEMON ATHLETICA INC [LULU]
EQUITY
550021109
3,987
446.80
1,781,391.60
0.7
INTL BUSINESS MACHINES CORP [IBM]
EQUITY
459200101
11,093
158.56
1,758,906.08
0.7
BLACKROCK INC [BLK]
EQUITY
09247X101
2,310
751.23
1,735,341.30
0.6
VERTEX PHARMACEUTICALS INC [VRTX]
EQUITY
92532F100
4,822
354.81
1,710,893.82
0.6
SERVICENOW INC [NOW]
EQUITY
81762P102
2,467
685.74
1,691,720.58
0.6
MORGAN STANLEY [MS]
EQUITY
617446448
20,364
79.34
1,615,679.76
0.6
SOUTHERN CO/THE [SO]
EQUITY
842587107
21,832
70.98
1,549,635.36
0.6
NORTHROP GRUMMAN CORP [NOC]
EQUITY
666807102
3,256
475.16
1,547,120.96
0.6
MONDELEZ INTERNATIONAL INC-A [MDLZ]
EQUITY
609207105
21,587
71.06
1,533,972.22
0.6
REGENERON PHARMACEUTICALS [REGN]
EQUITY
75886F107
1,822
823.81
1,500,981.82
0.6
PROGRESSIVE CORP [PGR]
EQUITY
743315103
9,042
164.03
1,483,159.26
0.5
AMERICAN EXPRESS CO [AXP]
EQUITY
025816109
8,444
170.77
1,441,981.88
0.5
SCHWAB (CHARLES) CORP [SCHW]
EQUITY
808513105
23,198
61.32
1,422,501.36
0.5
EQUINIX INC [EQIX]
EQUITY
29444U700
1,738
815.01
1,416,487.38
0.5
AIRBNB INC-CLASS A [ABNB]
EQUITY
009066101
11,142
126.34
1,407,680.28
0.5
ALTRIA GROUP INC [MO]
EQUITY
02209S103
27,050
42.04
1,137,182.00
0.4
COLGATE-PALMOLIVE CO [CL]
EQUITY
194162103
13,449
78.77
1,059,377.73
0.4
NUCOR CORP [NUE]
EQUITY
670346105
6,050
169.97
1,028,318.50
0.4
PALO ALTO NETWORKS INC [PANW]
EQUITY
697435105
3,373
295.09
995,338.57
0.4
SYNOPSYS INC [SNPS]
EQUITY
871607107
1,774
543.23
963,690.02
0.4
PIONEER NATURAL RESOURCES CO [PXD]
EQUITY
723787107
4,137
231.64
958,294.68
0.4
AMERICAN ELECTRIC POWER [AEP]
EQUITY
025537101
10,868
79.55
864,549.40
0.3
DOW INC [DOW]
EQUITY
260557103
16,696
51.75
864,018.00
0.3
NEWMONT CORP [NEM]
EQUITY
651639106
21,054
40.19
846,160.26
0.3
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
3,081
273.27
841,944.87
0.3
KKR & CO INC [KKR]
EQUITY
48251W104
10,956
75.84
830,903.04
0.3
CORTEVA INC [CTVA]
EQUITY
22052L104
17,465
45.20
789,418.00
0.3
EBAY INC [EBAY]
EQUITY
278642103
18,960
41.01
777,549.60
0.3
EXELON CORP [EXC]
EQUITY
30161N101
20,068
38.51
772,818.68
0.3
CUMMINS INC [CMI]
EQUITY
231021106
3,429
224.16
768,644.64
0.3
DIGITAL REALTY TRUST INC [DLR]
EQUITY
253868103
5,507
138.78
764,261.46
0.3
PUBLIC STORAGE [PSA]
EQUITY
74460D109
2,906
258.76
751,956.56
0.3
DUPONT DE NEMOURS INC [DD]
EQUITY
26614N102
10,405
71.54
744,373.70
0.3
HESS CORP [HES]
EQUITY
42809H107
5,151
140.56
724,024.56
0.3
TRAVELERS COS INC/THE [TRV]
EQUITY
89417E109
3,892
180.62
702,973.04
0.3
EXPEDIA GROUP INC [EXPE]
EQUITY
30212P303
5,124
136.18
697,786.32
0.3
IQVIA HOLDINGS INC [IQV]
EQUITY
46266C105
3,194
214.10
683,835.40
0.3
CONSOLIDATED EDISON INC [ED]
EQUITY
209115104
7,561
90.11
681,321.71
0.3
FORD MOTOR CO [F]
EQUITY
345370860
65,695
10.26
674,030.70
0.2
KIMBERLY-CLARK CORP [KMB]
EQUITY
494368103
5,407
123.73
669,008.11
0.2
AGILENT TECHNOLOGIES INC [A]
EQUITY
00846U101
5,110
127.80
653,058.00
0.2
QUANTA SERVICES INC [PWR]
EQUITY
74762E102
3,394
188.31
639,124.14
0.2
WORKDAY INC-CLASS A [WDAY]
EQUITY
98138H101
2,359
270.72
638,628.48
0.2
GENERAL MILLS INC [GIS]
EQUITY
370334104
9,758
63.66
621,194.28
0.2
DELTA AIR LINES INC [DAL]
EQUITY
247361702
15,582
36.93
575,443.26
0.2
SNOWFLAKE INC-CLASS A [SNOW]
EQUITY
833445109
3,055
187.68
573,362.40
0.2
P G & E CORP [PCG]
EQUITY
69331C108
33,378
17.17
573,100.26
0.2
ARISTA NETWORKS INC [ANET]
EQUITY
040413106
2,585
219.71
567,950.35
0.2
CONSTELLATION BRANDS INC-A [STZ]
EQUITY
21036P108
2,349
240.49
564,911.01
0.2
CROWDSTRIKE HOLDINGS INC - A [CRWD]
EQUITY
22788C105
2,371
236.99
561,903.29
0.2
AUTODESK INC [ADSK]
EQUITY
052769106
2,523
218.43
551,098.89
0.2
MARVELL TECHNOLOGY INC [MRVL]
EQUITY
573874104
9,784
55.73
545,262.32
0.2
ELECTRONIC ARTS INC [EA]
EQUITY
285512109
3,930
138.01
542,379.30
0.2
ONEOK INC [OKE]
EQUITY
682680103
7,770
68.85
534,964.50
0.2
EDISON INTERNATIONAL [EIX]
EQUITY
281020107
7,935
66.99
531,565.65
0.2
SBA COMMUNICATIONS CORP [SBAC]
EQUITY
78410G104
2,087
246.96
515,405.52
0.2
MSCI INC [MSCI]
EQUITY
55354G100
916
520.85
477,098.60
0.2
ARCH CAPITAL GROUP LTD [ACGL]
EQUITY
G0450A105
5,474
83.69
458,119.06
0.2
RESMED INC [RMD]
EQUITY
761152107
2,687
157.73
423,820.51
0.2
DTE ENERGY COMPANY [DTE]
EQUITY
233331107
4,012
104.11
417,689.32
0.2
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
6,018
68.46
411,992.28
0.2
HARTFORD FINANCIAL SVCS GRP [HIG]
EQUITY
416515104
5,109
78.16
399,319.44
0.1
PPL CORP [PPL]
EQUITY
69351T106
15,259
26.12
398,565.08
0.1
JACOBS SOLUTIONS INC [J]
EQUITY
46982L108
3,100
127.18
394,258.00
0.1
TRADE DESK INC/THE -CLASS A [TTD]
EQUITY
88339J105
5,327
70.46
375,340.42
0.1
FORTINET INC [FTNT]
EQUITY
34959E109
7,068
52.56
371,494.08
0.1
SOUTHWEST AIRLINES CO [LUV]
EQUITY
844741108
14,506
25.57
370,918.42
0.1
OMNICOM GROUP [OMC]
EQUITY
681919106
4,563
80.63
367,914.69
0.1
ALNYLAM PHARMACEUTICALS INC [ALNY]
EQUITY
02043Q107
2,103
168.25
353,829.75
0.1
PALANTIR TECHNOLOGIES INC-A [PLTR]
EQUITY
69608A108
17,590
20.05
352,679.50
0.1
HP INC [HPQ]
EQUITY
40434L105
11,942
29.34
350,378.28
0.1
ETSY INC [ETSY]
EQUITY
29786A106
4,380
75.81
332,047.80
0.1
ATMOS ENERGY CORP [ATO]
EQUITY
049560105
2,877
113.81
327,431.37
0.1
MONGODB INC [MDB]
EQUITY
60937P106
764
415.74
317,625.36
0.1
NASDAQ INC [NDAQ]
EQUITY
631103108
5,546
55.84
309,688.64
0.1
BIOMARIN PHARMACEUTICAL INC [BMRN]
EQUITY
09061G101
3,390
91.08
308,761.20
0.1
UNITED AIRLINES HOLDINGS INC [UAL]
EQUITY
910047109
7,772
39.40
306,216.80
0.1
ANSYS INC [ANSS]
EQUITY
03662Q105
1,043
293.36
305,974.48
0.1
ATLASSIAN CORP-CL A [TEAM]
EQUITY
049468101
1,570
190.95
299,791.50
0.1
VEEVA SYSTEMS INC-CLASS A [VEEV]
EQUITY
922475108
1,715
174.31
298,941.65
0.1
PRINCIPAL FINANCIAL GROUP [PFG]
EQUITY
74251V102
3,962
73.83
292,514.46
0.1
BROWN-FORMAN CORP-CLASS B [BF/B]
EQUITY
115637209
4,931
58.74
289,646.94
0.1
ILLUMINA INC [ILMN]
EQUITY
452327109
2,739
101.95
279,241.05
0.1
ARES MANAGEMENT CORP - A [ARES]
EQUITY
03990B101
2,380
112.25
267,155.00
0.1
HEWLETT PACKARD ENTERPRISE [HPE]
EQUITY
42824C109
15,515
16.91
262,358.65
0.1
PINTEREST INC- CLASS A [PINS]
EQUITY
72352L106
7,617
34.07
259,511.19
0.1
EQT CORP [EQT]
EQUITY
26884L109
6,373
39.96
254,665.08
0.1
SYNCHRONY FINANCIAL [SYF]
EQUITY
87165B103
7,695
32.36
249,010.20
0.1
ESSEX PROPERTY TRUST INC [ESS]
EQUITY
297178105
1,154
213.46
246,332.84
0.1
SPOTIFY TECHNOLOGY SA [SPOT]
EQUITY
L8681T102
1,312
185.11
242,864.32
0.1
AES CORP [AES]
EQUITY
00130H105
13,904
17.21
239,287.84
0.1
CINCINNATI FINANCIAL CORP [CINF]
EQUITY
172062101
2,211
102.79
227,268.69
0.1
ALIGN TECHNOLOGY INC [ALGN]
EQUITY
016255101
1,031
213.80
220,427.80
0.1
FACTSET RESEARCH SYSTEMS INC [FDS]
EQUITY
303075105
462
453.46
209,498.52
0.1
SNAP INC - A [SNAP]
EQUITY
83304A106
13,618
13.83
188,336.94
0.1
ZSCALER INC [ZS]
EQUITY
98980G102
953
197.53
188,246.09
0.1
TRANSUNION [TRU]
EQUITY
89400J107
3,177
58.72
186,553.44
0.1
INCYTE CORP [INCY]
EQUITY
45337C102
3,428
54.34
186,277.52
0.1
CAMDEN PROPERTY TRUST [CPT]
EQUITY
133131102
2,014
90.26
181,783.64
0.1
ZOOM VIDEO COMMUNICATIONS-A [ZM]
EQUITY
98980L101
2,620
67.83
177,714.60
0.1
TERADYNE INC [TER]
EQUITY
880770102
1,824
92.23
168,227.52
0.1
ROBLOX CORP -CLASS A [RBLX]
EQUITY
771049103
4,224
39.31
166,045.44
0.1
TRADEWEB MARKETS INC-CLASS A [TW]
EQUITY
892672106
1,691
96.90
163,857.90
0.1
EPAM SYSTEMS INC [EPAM]
EQUITY
29414B104
634
258.19
163,692.46
0.1
TRIMBLE INC [TRMB]
EQUITY
896239100
3,189
46.40
147,969.60
0.1
MATCH GROUP INC [MTCH]
EQUITY
57667L107
4,197
32.38
135,898.86
0.1
TWILIO INC - A [TWLO]
EQUITY
90138F102
2,041
64.68
132,011.88
0.0
FRANKLIN RESOURCES INC [BEN]
EQUITY
354613101
4,448
24.80
110,310.40
0.0
VF CORP [VFC]
EQUITY
918204108
6,182
16.73
103,424.86
0.0
UNITY SOFTWARE INC [U]
EQUITY
91332U101
2,285
29.51
67,430.35
0.0
ZOOMINFO TECHNOLOGIES INC [ZI]
EQUITY
98980F104
3,788
14.37
54,433.56
0.0
BROWN-FORMAN CORP-CLASS A [BF/A]
EQUITY
115637100
786
60.23
47,340.78
0.0
Total
--
--
--
--
--
269,314
99.7
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
0.3
Total Net Assets
--
--
--
--
--
--
100%

As of 10/31/2023

Human Capital Factor US Large Cap ETF (HAPI)

CIBC Human Capital Index

-

Information Technology

HAPI: 24.3%

Benchmark: 24.4%

-

Health Care

HAPI: 14.3%

Benchmark: 14.3%

-

Communication Services

HAPI: 13.9%

Benchmark: 14.2%

-

Financials

HAPI: 12.9%

Benchmark: 13.0%

-

Consumer Discretionary

HAPI: 10.8%

Benchmark: 11.0%

-

Industrials

HAPI: 6.2%

Benchmark: 6.3%

-

Consumer Staples

HAPI: 5.5%

Benchmark: 5.6%

-

Energy

HAPI: 5.0%

Benchmark: 5.0%

-

Utilities

HAPI: 2.4%

Benchmark: 2.5%

-

Real Estate

HAPI: 2.1%

Benchmark: 2.1%

-

Materials

HAPI: 1.6%

Benchmark: 1.7%

-

X

HAPI: 0.9%

Benchmark: NaN%

HAPI: Human Capital Factor US Large Cap ETF

Benchmark: CIBC Human Capital Index

Investment Team


Harbor Capital Advisors, Inc. dark blue logo on white background

The Fund employs an indexing investment approach designed to track the performance of the CIBC Human Capital Index (“The Index”). The Fund invests at least 80% of its total assets in securities that are included in the Index.

The Index consists of a modified market capitalization-weighted portfolio of equity securities of approximately 150 U.S. companies identified by Irrational Capital LLC (“Irrational Capital”) as those it believes to possess strong corporate culture based on its proprietary scoring methodology. The Index was developed by the Canadian Imperial Bank of Commerce (CIBC, the “Index Provider”).

Harbor Capital serves as the investment adviser.


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.

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. The Fund may not exactly track the performance of the Index with perfect accuracy at all times. Tracking error may occur because of pricing differences, timing and costs incurred by the fund or during times of heightened market volatility. The Fund relies on the Index provider's methodology in assessing whether a company may be considered a corporate culture leader. There is no guarantee that the construction methodology will accurately assess a company to include or exclude it from the index which could have an adverse effect on the Fund's returns. The Fund's assets may be concentrated in a particular sector or industries to the extent the Index is concentrated and is subject to the risk that economic, political, or other market conditions that have a negative effect on that sector or industry will negatively impact the value of the Fund.

Companies in the information technology sector can be significantly affected by short product cycles, obsolescence of existing technology, impairment or loss of intellectual property rights, falling prices and profits, competition from new market entrants, government regulation and other factors.

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.

CIBC is a third-party index provider to the Harbor Corporate Culture ETF.

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).

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.

Alpha refers to excess returns earned on an investment.

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.

©2023 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.

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Harbor Funds Distributors, Inc. is the Distributor of the Harbor Mutual Funds.
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.