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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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Welcome

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.


headshot

Dan Ariely

Behavioral Economist, Co-Founder, Irrational Capital

left quote

Of all the investments companies make, creating a strong corporate culture is one of the best ways to create value. This is why employee behavior and motivation can be such an important element of stock market performance.

right quote
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 9/29/2023

$25.53

Price (NAV)

-$0.07

NAV Daily Change ($)

-0.27%

NAV Daily Change (%)

17.54%

NAV YTD Return

$25.53

Market Price

-$0.08

Market Daily Change ($)

-0.31%

Market Daily Change (%)

17.54%

Market YTD Return

Fund Facts

As of 9/29/2023

10/12/2022

Inception Date

0.36

Expense Ratio (%)
disclaimer

$253.349

Total Net Assets (million)

9,925,000

Shares Outstanding
(As of 10/2/2023)

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 9/29/2023

$25.54

Bid/Ask Mid Price

$25.53

Closing Market Price

$0.01

Premium/Discount ($)

0.03%

Premium/Discount (%)

0.15%

30-Day Median Bid/Ask Spread

2

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

"Of all the investments companies make, creating a strong corporate culture is one of the best ways to create value. This is why employee behavior and motivation can be such an important element of stock market performance."

Dan Ariely

Behavioral Economist, Co-Founder, Irrational Capital

Performance

Total Returns

Quarter-End

Fund Name

3 Mo.

YTD Return

Since Inception

Net Expense Ratio

Gross Expense Ratio

Human Capital Factor US Large Cap ETF

-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%

--

--

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.

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 8/31/2023

152

Number of Holdings

627413.3

Wtd Avg Market Cap ($Mil)

6.49

Price/Book Ratio

31.6

Adjusted Trailing P/E Ratio

24

% EPS Growth - Past 3 Yr

23.62

Return on Equity (%)

24.1

Forecasted P/E Ratio

Top Ten Holdings

As of 9/29/2023

Company Name [Ticker]

% of Net Assets

CONSUMER DISCRETIONARY SELT[XLY]

6.0

MICROSOFT CORP[MSFT]

5.4

APPLE INC[AAPL]

5.1

NVIDIA CORP[NVDA]

4.3

ALPHABET INC-CL A[GOOGL]

3.9

ALPHABET INC-CL C[GOOG]

3.5

MASTERCARD INC - A[MA]

3.2

ELI LILLY & CO[LLY]

3.1

BERKSHIRE HATHAWAY INC-CL B[BRK/B]

2.8

JOHNSON & JOHNSON[JNJ]

2.8

% of Total Holdings:

40.1%

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 9/29/2023

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

CONSUMER DISCRETIONARY SELT [XLY]

EQUITY

81369Y407

94,304

160.98

15,181,057.92

6.0

MICROSOFT CORP [MSFT]

EQUITY

594918104

43,578

315.75

13,759,753.50

5.4

APPLE INC [AAPL]

EQUITY

037833100

75,223

171.21

12,878,929.83

5.1

NVIDIA CORP [NVDA]

EQUITY

67066G104

25,325

434.99

11,016,121.75

4.3

ALPHABET INC-CL A [GOOGL]

EQUITY

02079K305

75,090

130.86

9,826,277.40

3.9

ALPHABET INC-CL C [GOOG]

EQUITY

02079K107

67,988

131.85

8,964,217.80

3.5

MASTERCARD INC - A [MA]

EQUITY

57636Q104

20,663

395.91

8,180,688.33

3.2

ELI LILLY & CO [LLY]

EQUITY

532457108

14,704

537.13

7,897,959.52

3.1

BERKSHIRE HATHAWAY INC-CL B [BRK/B]

EQUITY

084670702

20,437

350.30

7,159,081.10

2.8

JOHNSON & JOHNSON [JNJ]

EQUITY

478160104

45,835

155.75

7,138,801.25

2.8

META PLATFORMS INC-CLASS A [META]

EQUITY

30303M102

23,486

300.21

7,050,732.06

2.8

CHEVRON CORP [CVX]

EQUITY

166764100

34,888

168.62

5,882,814.56

2.3

PROCTER & GAMBLE CO/THE [PG]

EQUITY

742718109

38,320

145.86

5,589,355.20

2.2

COMM SERV SELECT SECTOR SPDR [XLC]

EQUITY

81369Y852

80,798

65.57

5,297,924.86

2.1

MERCK & CO. INC. [MRK]

EQUITY

58933Y105

42,791

102.95

4,405,333.45

1.7

BOOKING HOLDINGS INC [BKNG]

EQUITY

09857L108

1,301

3,083.95

4,012,218.95

1.6

PFIZER INC [PFE]

EQUITY

717081103

97,660

33.17

3,239,382.20

1.3

HONEYWELL INTERNATIONAL INC [HON]

EQUITY

438516106

16,860

184.74

3,114,716.40

1.2

BANK OF AMERICA CORP [BAC]

EQUITY

060505104

109,799

27.38

3,006,296.62

1.2

CONOCOPHILLIPS [COP]

EQUITY

20825C104

24,615

119.80

2,948,877.00

1.2

ADOBE INC [ADBE]

EQUITY

00724F101

5,584

509.90

2,847,281.60

1.1

UNITED PARCEL SERVICE-CL B [UPS]

EQUITY

911312106

17,466

155.87

2,722,425.42

1.1

AMGEN INC [AMGN]

EQUITY

031162100

9,635

268.76

2,589,502.60

1.0

DEERE & CO [DE]

EQUITY

244199105

6,849

377.38

2,584,675.62

1.0

LOCKHEED MARTIN CORP [LMT]

EQUITY

539830109

6,149

408.96

2,514,695.04

1.0

BOSTON SCIENTIFIC CORP [BSX]

EQUITY

101137107

47,228

52.80

2,493,638.40

1.0

SALESFORCE INC [CRM]

EQUITY

79466L302

11,787

202.78

2,390,167.86

0.9

PHILIP MORRIS INTERNATIONAL [PM]

EQUITY

718172109

25,017

92.58

2,316,073.86

0.9

SCHLUMBERGER LTD [SLB]

EQUITY

806857108

34,909

58.30

2,035,194.70

0.8

NETFLIX INC [NFLX]

EQUITY

64110L106

5,297

377.60

2,000,147.20

0.8

S&P GLOBAL INC [SPGI]

EQUITY

78409V104

5,369

365.41

1,961,886.29

0.8

PROLOGIS INC [PLD]

EQUITY

74340W103

17,474

112.21

1,960,757.54

0.8

NIKE INC -CL B [NKE]

EQUITY

654106103

19,581

95.62

1,872,335.22

0.7

MARRIOTT INTERNATIONAL -CL A [MAR]

EQUITY

571903202

9,324

196.56

1,832,725.44

0.7

ADVANCED MICRO DEVICES [AMD]

EQUITY

007903107

17,560

102.82

1,805,519.20

0.7

INTUITIVE SURGICAL INC [ISRG]

EQUITY

46120E602

6,168

292.29

1,802,844.72

0.7

INTEL CORP [INTC]

EQUITY

458140100

49,718

35.55

1,767,474.90

0.7

INTUIT INC [INTU]

EQUITY

461202103

3,374

510.94

1,723,911.56

0.7

GOLDMAN SACHS GROUP INC [GS]

EQUITY

38141G104

5,246

323.57

1,697,448.22

0.7

VERTEX PHARMACEUTICALS INC [VRTX]

EQUITY

92532F100

4,810

347.74

1,672,629.40

0.7

MORGAN STANLEY [MS]

EQUITY

617446448

20,162

81.67

1,646,630.54

0.6

INTL BUSINESS MACHINES CORP [IBM]

EQUITY

459200101

10,994

140.30

1,542,458.20

0.6

LULULEMON ATHLETICA INC [LULU]

EQUITY

550021109

3,918

385.61

1,510,819.98

0.6

REGENERON PHARMACEUTICALS [REGN]

EQUITY

75886F107

1,805

822.96

1,485,442.80

0.6

MONDELEZ INTERNATIONAL INC-A [MDLZ]

EQUITY

609207105

21,404

69.40

1,485,437.60

0.6

BLACKROCK INC [BLK]

EQUITY

09247X101

2,288

646.49

1,479,169.12

0.6

NORTHROP GRUMMAN CORP [NOC]

EQUITY

666807102

3,235

440.19

1,424,014.65

0.6

SOUTHERN CO/THE [SO]

EQUITY

842587107

21,640

64.72

1,400,540.80

0.6

AIRBNB INC-CLASS A [ABNB]

EQUITY

009066101

9,986

137.21

1,370,179.06

0.5

SERVICENOW INC [NOW]

EQUITY

81762P102

2,446

558.96

1,367,216.16

0.5

EQUINIX INC [EQIX]

EQUITY

29444U700

1,734

726.26

1,259,334.84

0.5

SCHWAB (CHARLES) CORP [SCHW]

EQUITY

808513105

22,887

54.90

1,256,496.30

0.5

AMERICAN EXPRESS CO [AXP]

EQUITY

025816109

8,391

149.19

1,251,853.29

0.5

PROGRESSIVE CORP [PGR]

EQUITY

743315103

8,815

139.30

1,227,929.50

0.5

ALTRIA GROUP INC [MO]

EQUITY

02209S103

26,645

42.05

1,120,422.25

0.4

COLGATE-PALMOLIVE CO [CL]

EQUITY

194162103

13,381

71.11

951,522.91

0.4

PIONEER NATURAL RESOURCES CO [PXD]

EQUITY

723787107

4,127

229.55

947,352.85

0.4

NUCOR CORP [NUE]

EQUITY

670346105

6,035

156.35

943,572.25

0.4

CORTEVA INC [CTVA]

EQUITY

22052L104

17,353

51.16

887,779.48

0.4

DOW INC [DOW]

EQUITY

260557103

16,564

51.56

854,039.84

0.3

EBAY INC [EBAY]

EQUITY

278642103

18,632

44.09

821,484.88

0.3

FORD MOTOR CO [F]

EQUITY

345370860

65,534

12.42

813,932.28

0.3

AMERICAN ELECTRIC POWER [AEP]

EQUITY

025537101

10,724

75.22

806,659.28

0.3

SYNOPSYS INC [SNPS]

EQUITY

871607107

1,753

458.97

804,574.41

0.3

HESS CORP [HES]

EQUITY

42809H107

5,138

153.00

786,114.00

0.3

NEWMONT CORP [NEM]

EQUITY

651639106

21,003

36.95

776,060.85

0.3

DUPONT DE NEMOURS INC [DD]

EQUITY

26614N102

10,332

74.59

770,663.88

0.3

CUMMINS INC [CMI]

EQUITY

231021106

3,345

228.46

764,198.70

0.3

PALO ALTO NETWORKS INC [PANW]

EQUITY

697435105

3,257

234.44

763,571.08

0.3

PUBLIC STORAGE [PSA]

EQUITY

74460D109

2,890

263.52

761,572.80

0.3

EXELON CORP [EXC]

EQUITY

30161N101

19,696

37.79

744,311.84

0.3

CADENCE DESIGN SYS INC [CDNS]

EQUITY

127387108

3,028

234.30

709,460.40

0.3

KKR & CO INC [KKR]

EQUITY

48251W104

10,805

61.60

665,588.00

0.3

DIGITAL REALTY TRUST INC [DLR]

EQUITY

253868103

5,472

121.02

662,221.44

0.3

KIMBERLY-CLARK CORP [KMB]

EQUITY

494368103

5,379

120.85

650,052.15

0.3

CONSOLIDATED EDISON INC [ED]

EQUITY

209115104

7,496

85.53

641,132.88

0.3

TRAVELERS COS INC/THE [TRV]

EQUITY

89417E109

3,835

163.31

626,293.85

0.2

QUANTA SERVICES INC [PWR]

EQUITY

74762E102

3,344

187.07

625,562.08

0.2

IQVIA HOLDINGS INC [IQV]

EQUITY

46266C105

3,164

196.75

622,517.00

0.2

GENERAL MILLS INC [GIS]

EQUITY

370334104

9,683

63.99

619,615.17

0.2

CONSTELLATION BRANDS INC-A [STZ]

EQUITY

21036P108

2,341

251.33

588,363.53

0.2

DELTA AIR LINES INC [DAL]

EQUITY

247361702

15,416

37.00

570,392.00

0.2

AGILENT TECHNOLOGIES INC [A]

EQUITY

00846U101

5,097

111.595

568,799.715

0.2

MARVELL TECHNOLOGY INC [MRVL]

EQUITY

573874104

9,759

54.13

528,254.67

0.2

P G & E CORP [PCG]

EQUITY

69331C108

32,721

16.13

527,789.73

0.2

AUTODESK INC [ADSK]

EQUITY

052769106

2,502

206.91

517,688.82

0.2

EXPEDIA GROUP INC [EXPE]

EQUITY

30212P303

5,015

103.07

516,896.05

0.2

WORKDAY INC-CLASS A [WDAY]

EQUITY

98138H101

2,325

214.85

499,526.25

0.2

EDISON INTERNATIONAL [EIX]

EQUITY

281020107

7,860

63.29

497,459.40

0.2

ONEOK INC [OKE]

EQUITY

682680103

7,731

63.43

490,377.33

0.2

VMWARE INC-CLASS A [VMW]

EQUITY

928563402

2,891

166.48

481,293.68

0.2

ARISTA NETWORKS INC [ANET]

EQUITY

040413106

2,544

183.93

467,917.92

0.2

ELECTRONIC ARTS INC [EA]

EQUITY

285512109

3,874

120.40

466,429.60

0.2

MSCI INC [MSCI]

EQUITY

55354G100

904

513.08

463,824.32

0.2

SNOWFLAKE INC-CLASS A [SNOW]

EQUITY

833445109

2,965

152.77

452,963.05

0.2

ARCH CAPITAL GROUP LTD [ACGL]

EQUITY

G0450A105

5,304

79.71

422,781.84

0.2

JACOBS SOLUTIONS INC [J]

EQUITY

46982L108

3,054

136.50

416,871.00

0.2

SBA COMMUNICATIONS CORP [SBAC]

EQUITY

78410G104

2,067

200.17

413,751.39

0.2

FORTINET INC [FTNT]

EQUITY

34959E109

6,927

58.68

406,476.36

0.2

GE HEALTHCARE TECHNOLOGY [GEHC]

EQUITY

36266G107

5,952

68.04

404,974.08

0.2

DTE ENERGY COMPANY [DTE]

EQUITY

233331107

3,965

99.28

393,645.20

0.2

RESMED INC [RMD]

EQUITY

761152107

2,644

147.87

390,968.28

0.2

SOUTHWEST AIRLINES CO [LUV]

EQUITY

844741108

14,319

27.07

387,615.33

0.2

CROWDSTRIKE HOLDINGS INC - A [CRWD]

EQUITY

22788C105

2,310

167.38

386,647.80

0.2

ALNYLAM PHARMACEUTICALS INC [ALNY]

EQUITY

02043Q107

2,098

177.10

371,555.80

0.1

ILLUMINA INC [ILMN]

EQUITY

452327109

2,694

137.28

369,832.32

0.1

HARTFORD FINANCIAL SVCS GRP [HIG]

EQUITY

416515104

5,039

70.91

357,315.49

0.1

PPL CORP [PPL]

EQUITY

69351T106

15,046

23.56

354,483.76

0.1

VEEVA SYSTEMS INC-CLASS A [VEEV]

EQUITY

922475108

1,687

203.45

343,220.15

0.1

OMNICOM GROUP [OMC]

EQUITY

681919106

4,540

74.48

338,139.20

0.1

TRADE DESK INC/THE -CLASS A [TTD]

EQUITY

88339J105

4,235

78.15

330,965.25

0.1

UNITED AIRLINES HOLDINGS INC [UAL]

EQUITY

910047109

7,733

42.30

327,105.90

0.1

ATLASSIAN CORP-CL A [TEAM]

EQUITY

049468101

1,540

201.51

310,325.40

0.1

ALIGN TECHNOLOGY INC [ALGN]

EQUITY

016255101

1,008

305.32

307,762.56

0.1

ANSYS INC [ANSS]

EQUITY

03662Q105

1,032

297.55

307,071.60

0.1

HP INC [HPQ]

EQUITY

40434L105

11,817

25.70

303,696.90

0.1

ATMOS ENERGY CORP [ATO]

EQUITY

049560105

2,858

105.93

302,747.94

0.1

BIOMARIN PHARMACEUTICAL INC [BMRN]

EQUITY

09061G101

3,358

88.48

297,115.84

0.1

PRINCIPAL FINANCIAL GROUP [PFG]

EQUITY

74251V102

3,923

72.07

282,730.61

0.1

BROWN-FORMAN CORP-CLASS B [BF/B]

EQUITY

115637209

4,893

57.69

282,277.17

0.1

ETSY INC [ETSY]

EQUITY

29786A106

4,163

64.58

268,846.54

0.1

HEWLETT PACKARD ENTERPRISE [HPE]

EQUITY

42824C109

15,331

17.37

266,299.47

0.1

NASDAQ INC [NDAQ]

EQUITY

631103108

5,459

48.59

265,252.81

0.1

PALANTIR TECHNOLOGIES INC-A [PLTR]

EQUITY

69608A108

16,361

16.00

261,776.00

0.1

EQT CORP [EQT]

EQUITY

26884L109

6,357

40.58

257,967.06

0.1

MONGODB INC [MDB]

EQUITY

60937P106

744

345.86

257,319.84

0.1

ARES MANAGEMENT CORP - A [ARES]

EQUITY

03990B101

2,369

102.87

243,699.03

0.1

ESSEX PROPERTY TRUST INC [ESS]

EQUITY

297178105

1,142

212.09

242,206.78

0.1

SYNCHRONY FINANCIAL [SYF]

EQUITY

87165B103

7,615

30.57

232,790.55

0.1

CINCINNATI FINANCIAL CORP [CINF]

EQUITY

172062101

2,179

102.29

222,889.91

0.1

TRANSUNION [TRU]

EQUITY

89400J107

3,014

71.79

216,375.06

0.1

AES CORP [AES]

EQUITY

00130H105

13,699

15.20

208,224.80

0.1

PINTEREST INC- CLASS A [PINS]

EQUITY

72352L106

7,408

27.03

200,238.24

0.1

SPOTIFY TECHNOLOGY SA [SPOT]

EQUITY

L8681T102

1,279

154.64

197,784.56

0.1

FACTSET RESEARCH SYSTEMS INC [FDS]

EQUITY

303075105

452

437.26

197,641.52

0.1

INCYTE CORP [INCY]

EQUITY

45337C102

3,401

57.77

196,475.77

0.1

CAMDEN PROPERTY TRUST [CPT]

EQUITY

133131102

2,009

94.58

190,011.22

0.1

TERADYNE INC [TER]

EQUITY

880770102

1,804

100.46

181,229.84

0.1

ZOOM VIDEO COMMUNICATIONS-A [ZM]

EQUITY

98980L101

2,551

69.94

178,416.94

0.1

TRIMBLE INC [TRMB]

EQUITY

896239100

3,141

53.86

169,174.26

0.1

MATCH GROUP INC [MTCH]

EQUITY

57667L107

4,142

39.175

162,262.85

0.1

EPAM SYSTEMS INC [EPAM]

EQUITY

29414B104

624

255.69

159,550.56

0.1

ZSCALER INC [ZS]

EQUITY

98980G102

918

155.59

142,831.62

0.1

TRADEWEB MARKETS INC-CLASS A [TW]

EQUITY

892672106

1,651

80.20

132,410.20

0.1

SNAP INC - A [SNAP]

EQUITY

83304A106

13,241

8.91

117,977.31

0.0

TWILIO INC - A [TWLO]

EQUITY

90138F102

1,974

58.53

115,538.22

0.0

FRANKLIN RESOURCES INC [BEN]

EQUITY

354613101

4,400

24.58

108,152.00

0.0

VF CORP [VFC]

EQUITY

918204108

6,103

17.67

107,840.01

0.0

ROBLOX CORP -CLASS A [RBLX]

EQUITY

771049103

3,466

28.96

100,375.36

0.0

UNITY SOFTWARE INC [U]

EQUITY

91332U101

2,146

31.39

67,362.94

0.0

ZOOMINFO TECHNOLOGIES INC [ZI]

EQUITY

98980F104

3,597

16.40

58,990.80

0.0

BROWN-FORMAN CORP-CLASS A [BF/A]

EQUITY

115637100

780

58.10

45,318.00

0.0

Total

--

--

--

--

--

251,211

99.0

Cash and Other Assets Less Liabilities

--

--

--

--

--

--

1.0

Total Net Assets

--

--

--

--

--

--

100%

As of 8/31/2023

Human Capital Factor US Large Cap ETF (HAPI)

CIBC Human Capital Index

-

Information Technology

HAPI: 24.2%

Benchmark: 24.3%

-

Health Care

HAPI: 14.4%

Benchmark: 14.4%

-

Communication Services

HAPI: 13.7%

Benchmark: 14.0%

-

Financials

HAPI: 13.0%

Benchmark: 13.1%

-

Consumer Discretionary

HAPI: 11.1%

Benchmark: 11.3%

-

Industrials

HAPI: 6.3%

Benchmark: 6.4%

-

Consumer Staples

HAPI: 5.4%

Benchmark: 5.4%

-

Energy

HAPI: 5.0%

Benchmark: 4.9%

-

Utilities

HAPI: 2.3%

Benchmark: 2.4%

-

Real Estate

HAPI: 2.3%

Benchmark: 2.3%

-

Materials

HAPI: 1.7%

Benchmark: 1.7%

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.