Harbor Logo in white color
phone icon
Icon illustration of smiley face on gray background

Harbor Human Capital Factor Unconstrained ETF (HAPY)

Access a data-driven strategy that seeks to capture the link between strong corporate culture and equity value

Welcome
Overview
Performance
Holdings
Investment Team
Documents
chevron

Locate Your Harbor Consultant

INSTITUTIONAL INVESTORS ONLY: Please enter your zip code to locate an Investment Consultant.

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.

The index underlying HAPY takes a socially conscious approach that seeks to access the potential alpha opportunity of strong corporate culture.

 

BE HAPY

assets0
assets0M+

assets0M+

The above figures represent Irrational Capital’s full data set. A subset of this data is used in constructing HAPY. 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 index underlying HAPY takes a socially conscious approach that aims to access the potential alpha opportunity of strong corporate culture.

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

$19.91

Price (NAV)

$0.42

NAV Daily Change ($)

2.15%

NAV Daily Change (%)

25.54%

NAV YTD Return

$19.91

Market Price

$0.42

Market Daily Change ($)

2.15%

Market Daily Change (%)

25.54%

Market YTD Return

Fund Facts

As of 12/1/2023

2/23/2022

Inception Date

0.50

Expense Ratio (%)
disclaimer

$11.448

Total Net Assets (million)

575,000

Shares Outstanding
(As of 12/4/2023)

HAPY

Ticker

41151J604

Cusip

NYSE

Exchange

US41151J6047

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Mid Cap Growth

Morningstar Category

Human Capital Factor Unconstrained Index

Benchmark

Investment Objective:

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

Morningstar Medalist Rating™

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

Pricing/Trading

As of 12/1/2023

$19.92

Bid/Ask Mid Price

$19.91

Closing Market Price

$0.01

Premium/Discount ($)

0.06%

Premium/Discount (%)

0.33%

30-Day Median Bid/Ask Spread

96

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

Performance

Total Returns

Quarter-End

3 Mo.

YTD Return

1 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Human Capital Factor Unconstrained ETF - at NAV
-3.41%
14.38%
19.22%
-3.73%
0.50%disclaimer
0.50%
Fund Market Price
-3.46%
14.38%
19.06%
-3.73%
--
--
Human Capital Factor Unconstrained Index
-3.30%
15.45%
20.46%
-2.68%
--
--
S&P 500 Index
-3.27%
13.07%
21.62%
2.62%
--
--

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 Human Capital Factor Unconstrained Index is designed to deliver exposure to equity securities of large cap U.S. companies that demonstrate high employee engagement, based on scores produced by Irrational Capital LLC. This unmanaged index 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
0.02561
--
--
0.02561

Holdings

Portfolio Characteristics

As of 10/31/2023

75

Number of Holdings

153117.8

Wtd Avg Market Cap ($Mil)

5.4

Price/Book Ratio

33.9

Adjusted Trailing P/E Ratio

17.6

% EPS Growth - Past 3 Yr

10.5

Return on Equity (%)

27

Forecasted P/E Ratio

Top Ten Holdings

As of 11/30/2023

Company Name [Ticker]

% of Net Assets

GLOBANT SA[GLOB]
1.6
ROKU INC[ROKU]
1.6
SALESFORCE INC[CRM]
1.5
AGILENT TECHNOLOGIES INC[A]
1.5
INTELLIA THERAPEUTICS INC[NTLA]
1.5
INTEL CORP[INTC]
1.5
KKR & CO INC[KKR]
1.5
ETSY INC[ETSY]
1.5
SENTINELONE INC -CLASS A[S]
1.5
MONDAY.COM LTD[MNDY]
1.4
% of Total Holdings:
15.1%

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 11/30/2023

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

GLOBANT SA [GLOB]
EQUITY
L44385109
820
220.80
181,056.00
1.6
ROKU INC [ROKU]
EQUITY
77543R102
1,680
104.20
175,056.00
1.6
SALESFORCE INC [CRM]
EQUITY
79466L302
672
251.90
169,276.80
1.5
AGILENT TECHNOLOGIES INC [A]
EQUITY
00846U101
1,323
127.80
169,079.40
1.5
INTELLIA THERAPEUTICS INC [NTLA]
EQUITY
45826J105
5,680
29.63
168,298.40
1.5
INTEL CORP [INTC]
EQUITY
458140100
3,756
44.70
167,893.20
1.5
KKR & CO INC [KKR]
EQUITY
48251W104
2,213
75.84
167,833.92
1.5
ETSY INC [ETSY]
EQUITY
29786A106
2,184
75.81
165,569.04
1.5
SENTINELONE INC -CLASS A [S]
EQUITY
81730H109
8,649
19.09
165,109.41
1.5
MONDAY.COM LTD [MNDY]
EQUITY
M7S64H106
902
179.84
162,215.68
1.4
ZOOMINFO TECHNOLOGIES INC [ZI]
EQUITY
98980F104
11,143
14.37
160,124.91
1.4
STEEL DYNAMICS INC [STLD]
EQUITY
858119100
1,336
119.13
159,157.68
1.4
SYNCHRONY FINANCIAL [SYF]
EQUITY
87165B103
4,876
32.36
157,787.36
1.4
TWILIO INC - A [TWLO]
EQUITY
90138F102
2,439
64.68
157,754.52
1.4
INTUITIVE SURGICAL INC [ISRG]
EQUITY
46120E602
507
310.84
157,595.88
1.4
FIRST AMERICAN FINANCIAL [FAF]
EQUITY
31847R102
2,634
59.60
156,986.40
1.4
SPOTIFY TECHNOLOGY SA [SPOT]
EQUITY
L8681T102
848
185.11
156,973.28
1.4
SAMSARA INC-CL A [IOT]
EQUITY
79589L106
5,692
27.54
156,757.68
1.4
PROLOGIS INC [PLD]
EQUITY
74340W103
1,359
114.93
156,189.87
1.4
SBA COMMUNICATIONS CORP [SBAC]
EQUITY
78410G104
632
246.96
156,078.72
1.4
NETFLIX INC [NFLX]
EQUITY
64110L106
329
473.97
155,936.13
1.4
CREDIT ACCEPTANCE CORP [CACC]
EQUITY
225310101
341
457.00
155,837.00
1.4
SERVICENOW INC [NOW]
EQUITY
81762P102
227
685.74
155,662.98
1.4
ZSCALER INC [ZS]
EQUITY
98980G102
788
197.53
155,653.64
1.4
MORNINGSTAR INC [MORN]
EQUITY
617700109
549
283.36
155,564.64
1.4
TRANSUNION [TRU]
EQUITY
89400J107
2,646
58.72
155,373.12
1.4
SILICON LABORATORIES INC [SLAB]
EQUITY
826919102
1,474
105.37
155,315.38
1.4
JOHNSON & JOHNSON [JNJ]
EQUITY
478160104
1,003
154.66
155,123.98
1.4
EPAM SYSTEMS INC [EPAM]
EQUITY
29414B104
600
258.19
154,914.00
1.4
DELTA AIR LINES INC [DAL]
EQUITY
247361702
4,192
36.93
154,810.56
1.4
SPIRIT REALTY CAPITAL INC [SRC]
EQUITY
84860W300
3,739
41.30
154,420.70
1.4
TRADE DESK INC/THE -CLASS A [TTD]
EQUITY
88339J105
2,186
70.46
154,025.56
1.4
TPG INC [TPG]
EQUITY
872657101
4,397
35.00
153,895.00
1.4
TRADEWEB MARKETS INC-CLASS A [TW]
EQUITY
892672106
1,587
96.90
153,780.30
1.4
LULULEMON ATHLETICA INC [LULU]
EQUITY
550021109
344
446.80
153,699.20
1.4
MONGODB INC [MDB]
EQUITY
60937P106
369
415.74
153,408.06
1.4
MASTERCARD INC - A [MA]
EQUITY
57636Q104
370
413.83
153,117.10
1.4
DROPBOX INC-CLASS A [DBX]
EQUITY
26210C104
5,425
28.18
152,876.50
1.4
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
2,734
55.89
152,803.26
1.4
GUIDEWIRE SOFTWARE INC [GWRE]
EQUITY
40171V100
1,527
99.94
152,608.38
1.4
S&P GLOBAL INC [SPGI]
EQUITY
78409V104
366
415.83
152,193.78
1.4
ATLASSIAN CORP-CL A [TEAM]
EQUITY
049468101
797
190.95
152,187.15
1.4
AES CORP [AES]
EQUITY
00130H105
8,840
17.21
152,136.40
1.4
COLGATE-PALMOLIVE CO [CL]
EQUITY
194162103
1,931
78.77
152,104.87
1.4
INTUIT INC [INTU]
EQUITY
461202103
266
571.46
152,008.36
1.4
PPL CORP [PPL]
EQUITY
69351T106
5,791
26.12
151,260.92
1.3
MICROSOFT CORP [MSFT]
EQUITY
594918104
399
378.91
151,185.09
1.3
TERADYNE INC [TER]
EQUITY
880770102
1,631
92.23
150,427.13
1.3
PINNACLE FINANCIAL PARTNERS [PNFP]
EQUITY
72346Q104
2,064
72.57
149,784.48
1.3
THOUGHTWORKS HOLDING INC [TWKS]
EQUITY
88546E105
38,335
3.90
149,506.50
1.3
ADOBE INC [ADBE]
EQUITY
00724F101
244
611.01
149,086.44
1.3
PROCTER & GAMBLE CO/THE [PG]
EQUITY
742718109
971
153.52
149,067.92
1.3
MSCI INC [MSCI]
EQUITY
55354G100
285
520.85
148,442.25
1.3
CONSOLIDATED EDISON INC [ED]
EQUITY
209115104
1,647
90.11
148,411.17
1.3
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
543
273.27
148,385.61
1.3
AIRBNB INC-CLASS A [ABNB]
EQUITY
009066101
1,171
126.34
147,944.14
1.3
CONOCOPHILLIPS [COP]
EQUITY
20825C104
1,279
115.57
147,814.03
1.3
ROBLOX CORP -CLASS A [RBLX]
EQUITY
771049103
3,757
39.31
147,687.67
1.3
ASGN INC [ASGN]
EQUITY
00191U102
1,651
89.24
147,335.24
1.3
RLI CORP [RLI]
EQUITY
749607107
1,085
135.60
147,126.00
1.3
ALNYLAM PHARMACEUTICALS INC [ALNY]
EQUITY
02043Q107
872
168.25
146,714.00
1.3
GITLAB INC-CL A [GTLB]
EQUITY
37637K108
3,035
48.34
146,711.90
1.3
SAREPTA THERAPEUTICS INC [SRPT]
EQUITY
803607100
1,805
81.28
146,710.40
1.3
COMMERCIAL METALS CO [CMC]
EQUITY
201723103
3,218
45.33
145,871.94
1.3
FACTSET RESEARCH SYSTEMS INC [FDS]
EQUITY
303075105
321
453.46
145,560.66
1.3
ZIFF DAVIS INC [ZD]
EQUITY
48123V102
2,271
63.82
144,935.22
1.3
PIONEER NATURAL RESOURCES CO [PXD]
EQUITY
723787107
625
231.64
144,775.00
1.3
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
439
327.15
143,618.85
1.3
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
2,056
68.46
140,753.76
1.3
NVIDIA CORP [NVDA]
EQUITY
67066G104
298
467.70
139,374.60
1.2
DOXIMITY INC-CLASS A [DOCS]
EQUITY
26622P107
5,886
23.25
136,849.50
1.2
AGILON HEALTH INC [AGL]
EQUITY
00857U107
12,405
10.62
131,741.10
1.2
ALPHABET INC-CL C [GOOG]
EQUITY
02079K107
542
133.92
72,584.64
0.6
ALPHABET INC-CL A [GOOGL]
EQUITY
02079K305
545
132.53
72,228.85
0.6
Total
--
--
--
--
--
11,208
100.1
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
-0.1
Total Net Assets
--
--
--
--
--
--
100%

As of 10/31/2023

Human Capital Factor Unconstrained ETF (HAPY)

Human Capital Factor Unconstrained Index

-

Information Technology

HAPY: 32.8%

Benchmark: 32.8%

-

Financials

HAPY: 17.8%

Benchmark: 17.8%

-

Communication Services

HAPY: 13.7%

Benchmark: 13.6%

-

Health Care

HAPY: 12.2%

Benchmark: 12.3%

-

Consumer Discretionary

HAPY: 4.0%

Benchmark: 3.9%

-

Utilities

HAPY: 4.0%

Benchmark: 4.0%

-

Real Estate

HAPY: 3.9%

Benchmark: 3.9%

-

Industrials

HAPY: 3.3%

Benchmark: 3.3%

-

Energy

HAPY: 2.9%

Benchmark: 2.9%

-

Consumer Staples

HAPY: 2.8%

Benchmark: 2.9%

-

Materials

HAPY: 2.5%

Benchmark: 2.6%

-

X

HAPY: 0.1%

Benchmark: NaN%

HAPY: Human Capital Factor Unconstrained ETF

Benchmark: Human Capital Factor Unconstrained 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 Human Capital Factor Unconstrained Index (“The Index”). The Fund invests at least 80% of its total assets in securities that are included in the Index.

The Index is designed to deliver exposure to equity securities of large cap U.S. companies that demonstrate high employee engagement, based on scores produced by Irrational Capital LLC (“Irrational Capital” or the “Index Provider”). Large cap companies are defined by the Fund as those with market capitalizations over $1 billion at the time of Index reconstitution. The Index is equally weighted and composed of approximately 70 to 100 companies with top “Human Capital Factor” scores at the time of Index reconstitution.

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.

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. 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.

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.

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.

Irrational Capital LLC is a third-party index provider to the Fund. The Fund is managed by Harbor Capital Advisors, Inc.

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.

3137589 

Blue Background

Connect with us | LinkedIn Logo Icon

Harbor Funds Distributors, Inc. is the Distributor of the Harbor Mutual Funds.
Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.
FINRA Brokercheck logo in white color

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.