Harbor Disruptive Innovation ETF (INNO)
Invests in leading edge, industry transforming companies across markets
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Why invest in INNO?
We believe that companies poised to displace pre-existing goods, services, and industry leaders have the potential to generate strong levels of growth over time.
Harbor’s Multi-Asset Solutions Team employs an active multi-strategy approach with the goal of providing enhanced diversification benefits and mitigating portfolio risk through the low correlation of excess returns across the strategy’s underlying managers.
The portfolio offers exposure to leading edge, industry transforming companies across sectors, market cap ranges, and regions which can help enable diversification and enhance investors’ opportunity set.
NYSE What's the Fund: Harbor Disruptive Innovation ETF (INNO)
Hear from Spenser Lerner, Harbor’s Head of Multi-Asset Solutions, on what’s different about Harbor’s approach to disruptive innovation.
Video used with permission of © NYSE Group, Inc.
The Harbor Disruptive Innovation ETF seeks to invest in leading edge, industry transforming companies across sectors, market cap ranges, and regions which can help enable more diverse exposure and enhance investors’ opportunity set. Through our active multi-strategy approach, we seek to provide enhanced diversification benefits and mitigate portfolio risk by managing allocations to five specialized active managers.
Overview
Investment Team
As of 12/1/2023
Investment Objective:
The Fund seeks long-term growth of capital
A distinct multi-strategy approach to accessing innovation
Harbor Disruptive Innovation seeks to offer diverse exposure to leading edge
transformational companies across market segments.
Performance
3 Mo.
YTD Return
1 Yr.
Since Inception
Net Expense Ratio
Gross Expense Ratio
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 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.
The Russell 3000® Growth Index measures the performance of the broad growth segment of the US equity universe. It includes Russell 3000® Index companies with higher price-to-book ratios and higher forecasted growth values. It is market-capitalization weighted. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 3000® Growth Index and Russell® are trademarks of Frank Russell Company.
Effective September 1, 2021, the Fund’s benchmark index changed from the Russell Midcap® Growth Index to the S&P 500 Index as the Adviser believes this index is a more appropriate comparison in light of the Fund’s new name and investment strategy.
Distribution History
Ex-Date
Record Date
Payable Date
Ordinary Income
Short Term Capital Gains
Long Term Capital Gains
Total Distribution
Holdings
Full Holdings
As of 11/30/2023
Company Name [Ticker]
Category Name
Country
Cusip
Shares
Current Price ($)
Market Value ($)
% of Net Assets
Sector Allocation
As of 10/31/2023
Disruptive Innovation ETF (INNO)
S&P 500 Index
Information Technology
INNO: 44.6%
Benchmark: 28.1%
Health Care
INNO: 20.0%
Benchmark: 13.2%
Consumer Discretionary
INNO: 12.8%
Benchmark: 10.5%
Financials
INNO: 8.2%
Benchmark: 12.8%
Communication Services
INNO: 4.6%
Benchmark: 8.7%
Industrials
INNO: 2.9%
Benchmark: 8.3%
X
INNO: 2.8%
Benchmark: NaN%
Materials
INNO: 2.7%
Benchmark: 2.4%
Consumer Staples
INNO: 1.5%
Benchmark: 6.7%
Energy
INNO: 0.0%
Benchmark: 4.5%
Real Estate
INNO: 0.0%
Benchmark: 2.4%
Utilities
INNO: 0.0%
Benchmark: 2.5%
INNO: Disruptive Innovation ETF
Benchmark: S&P 500 Index
Investment Team
The Fund employs a multi-manager approach in an effort to achieve its investment objective, offering the expertise of multiple investment managers in one Fund. As the fund sponsor, Harbor Capital assumes responsibility for selecting and overseeing underlying managers for the Fund. Each underlying manager is responsible for submitting a model portfolio to Harbor Capital, which the portfolio managers will implement in their discretion. The portfolio managers will handle the assigned allocation within the fund and will adjust over time based upon both qualitative and quantitative assessments of each strategy aiming to enhance the investment outcome for the Fund.
Documents
Name
Date
Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Harbor ETFs are new and have limited operating history to judge.
Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.
There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Since the Fund may hold foreign securities, it may be subject to greater risks than funds invested only in the U.S. These risks are more severe for securities issuers in emerging market regions. Investing in REITs will subject the Fund to additional risk.
The views expressed herein may not be reflective of current opinions, are subject to change without prior notice, and should not be considered investment advice.
Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.
Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.
Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.
% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.
Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.
Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.
Bid/Ask Mid Price: the midpoint between the highest bid and the lowest offer, as of the time that the Fund’s NAV is calculated, typically 4 p.m. Eastern Time.
Premium/Discount ($): the difference between the Fund’s market price and NAV, expressed as a percentage of NAV. A premium is the amount that the Fund is trading above the reported NAV. A discount is the amount that the Fund is trading below the reported NAV.
30-Day Median Bid/Ask Spread: calculated by identifying national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage (rounded to the nearest hundredth).
Alpha refers to excess returns earned on an investment.
Diversification does not assure a profit or protect against loss in a declining market.