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Harbor Health Care ETF (MEDI)

Built on a rich history of Health Care Investing

Harbor Health Care ETF (MEDI)

Built on a rich history of Health Care Investing

Welcome
Overview
Performance
Holdings
Investment Team
Documents
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Why Invest in MEDI?

Health care costs have increased over time, while forecasts signal continued upward trend looking ahead. A broader shift towards value-based approaches within health care is likely needed, with emphasis on lower costs of care and improved patient outcomes. This enables opportunities for health care companies best positioned to facilitate transition towards value over quantity.

In addition, health care is home to other disruptive themes such as targeted oncology, liquid biopsy, gene therapy, orphan diseases, and others that represent compelling long-term growth opportunities.

The investment team behind MEDI seeks to construct a portfolio capable of benefiting from the secular growth and innovation of the U.S. health care system, while achieving alpha relative to the broader Health Care sector by investing in quality businesses with differentiated products, technologies, and services which meet the team's disciplined valuation criteria.


Matthew R. Renna
Partner, Portfolio Manager, Westfield Capital Management Company L.P.

"Health care is a sector that we are very passionate about, and one in which we have a strong history."

Read the Q&A for a timely look at the Health Care sector.



Time to get active in healthcare investing

Overview

Investment Team
Westfield Capital Management

Current Price

As of 2/29/2024

$26.56

Price (NAV)

-$0.22

NAV Daily Change ($)

-0.82%

NAV Daily Change (%)

7.14%

NAV YTD Return

Fund Facts

As of 2/29/2024

11/16/2022

Inception Date

0.80

Expense Ratio (%)
disclaimer

$8.033

Total Net Assets (million)

300,000

Shares Outstanding
(As of 2/29/2024)

MEDI

Ticker

41151J869

Cusip

NYSE

Exchange

US41151J896

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Health

Morningstar Category

Russell 3000® Growth Health Care Index

Benchmark

Investment Objective:

The Fund seeks long-term growth of capital.

Pricing/Trading

As of 2/28/2024

$26.80

Bid/Ask Mid Price

$26.78

Closing Market Price

$0.02

Premium/Discount ($)

0.07%

Premium/Discount (%)

0.24%

30-Day Median Bid/Ask Spread

11,541

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

"Health care is a sector that we are very passionate about, and one in which we have a strong history."

Matthew R. Renna

Partner, Portfolio Manager, Westfield Capital Management Company L.P.

Performance

Total Returns

Quarter-End

3 Mo.

YTD Return

1 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Health Care ETF - at NAV
14.36%
24.81%
24.81%
23.82%
0.80%disclaimer
0.80%
Fund Market Price
14.51%
24.86%
24.86%
24.59%
--
--
Russell 3000 Growth Health Care Index
9.28%
11.67%
11.67%
12.16%
--
--

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 Russell 3000® Growth Health Care Index is an unmanaged index generally representative of companies involved in medical services or health care in the Russell 3000 Index, which is comprised of the 3,000 largest U.S. companies as determined by total market capitalization. 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

12/21/2023
12/22/2023
12/27/2023
0.16429
0.29701
--
0.46130
12/21/2022
12/22/2022
12/27/2022
--
--
--
0.00000

Holdings

Portfolio Characteristics

As of 1/31/2024

35

Number of Holdings

173692.8

Wtd Avg Market Cap ($Mil)

5.6

Price/Book Ratio

51.2

Adjusted Trailing P/E Ratio

1.5

% EPS Growth - Past 3 Yr

25.78

Return on Equity (%)

19.7

Forecasted P/E Ratio

Top Ten Holdings

As of 2/28/2024

Company Name [Ticker]

% of Net Assets

ASCENDIS PHARMA A/S - ADR[ASND]
15.4
UNITEDHEALTH GROUP INC[UNH]
10.3
ABBVIE INC[ABBV]
9.8
ELI LILLY & CO[LLY]
7.9
LEGEND BIOTECH CORP-ADR[LEGN]
5.4
OPTION CARE HEALTH INC[OPCH]
3.6
DEXCOM INC[DXCM]
3.5
LANTHEUS HOLDINGS INC[LNTH]
3.1
ICON PLC[ICLR]
2.8
ROCKET PHARMACEUTICALS INC[RCKT]
2.6
% of Total Holdings:
64.4%

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 2/28/2024

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

ASCENDIS PHARMA A/S - ADR [ASND]
EQUITY
04351P101
8,409
146.93
1,235,534.37
15.4
UNITEDHEALTH GROUP INC [UNH]
EQUITY
91324P102
1,665
498.28
829,636.20
10.3
ABBVIE INC [ABBV]
EQUITY
00287Y109
4,430
178.00
788,540.00
9.8
ELI LILLY & CO [LLY]
EQUITY
532457108
833
757.64
631,114.12
7.9
LEGEND BIOTECH CORP-ADR [LEGN]
EQUITY
52490G102
6,429
67.78
435,757.62
5.4
OPTION CARE HEALTH INC [OPCH]
EQUITY
68404L201
9,023
31.61
285,217.03
3.6
DEXCOM INC [DXCM]
EQUITY
252131107
2,440
114.22
278,696.80
3.5
LANTHEUS HOLDINGS INC [LNTH]
EQUITY
516544103
3,860
65.37
252,328.20
3.1
ICON PLC [ICLR]
EQUITY
G4705A100
703
323.44
227,378.32
2.8
ROCKET PHARMACEUTICALS INC [RCKT]
EQUITY
77313F106
7,202
29.03
209,074.06
2.6
HUMANA INC [HUM]
EQUITY
444859102
562
351.16
197,351.92
2.5
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
2,865
66.99
191,926.35
2.4
MASIMO CORP [MASI]
EQUITY
574795100
1,335
128.70
171,814.50
2.1
INSPIRE MEDICAL SYSTEMS INC [INSP]
EQUITY
457730109
943
177.61
167,486.23
2.1
PFIZER INC [PFE]
EQUITY
717081103
6,105
26.945
164,499.23
2.0
VAXCYTE INC [PCVX]
EQUITY
92243G108
1,781
75.11
133,770.91
1.7
IDEXX LABORATORIES INC [IDXX]
EQUITY
45168D104
228
571.68
130,343.04
1.6
WEST PHARMACEUTICAL SERVICES [WST]
EQUITY
955306105
363
357.31
129,703.53
1.6
AVANTOR INC [AVTR]
EQUITY
05352A100
5,184
24.60
127,526.40
1.6
COOPER COS INC/THE [COO]
EQUITY
216648501
1,288
94.51
121,728.88
1.5
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
1,072
93.02
99,717.44
1.2
IRHYTHM TECHNOLOGIES INC [IRTC]
EQUITY
450056106
818
118.28
96,753.04
1.2
BICYCLE THERAPEUTICS PLC-ADR [BCYC]
EQUITY
088786108
3,590
25.98
93,268.20
1.2
INSULET CORP [PODD]
EQUITY
45784P101
544
163.60
88,998.40
1.1
MOONLAKE IMMUNOTHERAPEUTICS [MLTX]
EQUITY
61559X104
1,486
56.81
84,419.66
1.1
NEUROCRINE BIOSCIENCES INC [NBIX]
EQUITY
64125C109
613
134.66
82,546.58
1.0
HAEMONETICS CORP/MASS [HAE]
EQUITY
405024100
1,017
74.87
76,142.79
0.9
REPLIGEN CORP [RGEN]
EQUITY
759916109
337
195.94
66,031.78
0.8
TEVA PHARMACEUTICAL-SP ADR [TEVA]
EQUITY
881624209
4,837
13.09
63,316.33
0.8
ALIGN TECHNOLOGY INC [ALGN]
EQUITY
016255101
204
302.39
61,687.56
0.8
ALKERMES PLC [ALKS]
EQUITY
G01767105
1,987
29.80
59,212.60
0.7
VIKING THERAPEUTICS INC [VKTX]
EQUITY
92686J106
603
94.50
56,983.50
0.7
CYTOKINETICS INC [CYTK]
EQUITY
23282W605
728
73.09
53,209.52
0.7
CENCORA INC [COR]
EQUITY
03073E105
206
236.13
48,642.78
0.6
89BIO INC [ETNB]
EQUITY
282559103
3,912
11.76
46,005.12
0.6
XENON PHARMACEUTICALS INC [XENE]
EQUITY
98420N105
923
47.84
44,156.32
0.5
INNOVIVA INC [INVA]
EQUITY
45781M101
2,818
15.35
43,256.30
0.5
Total
--
--
--
--
--
7,874
97.9
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
2.1
Total Net Assets
--
--
--
--
--
--
100%

As of 1/31/2024

Health Care ETF (MEDI)

Russell 3000 Growth Health Care Index

-

Health Care

MEDI: 99.5%

Benchmark: 99.9%

-

Consumer Discretionary

MEDI: 0.0%

Benchmark: 0.0%

-

Industrials

MEDI: 0.0%

Benchmark: 0.0%

-

Materials

MEDI: 0.0%

Benchmark: 0.0%

MEDI: Health Care ETF

Benchmark: Russell 3000 Growth Health Care Index

As of 1/31/2024

Economic Sector

Health Care ETF %

Russell 3000 Growth Health Care Index %

Health Care

Economic sector icon
19.3
16.4

Information Technology

Economic sector icon
0.0
0.1

Consumer Discretionary

Economic sector icon
0.0
-1.8

Industrials

Economic sector icon
0.0
-0.6

Materials

Economic sector icon
0.0
-11.7

Investment Team


Westfield Capital Management

Westfield Capital Management Company, L.P. is dedicated to providing strong and consistent investment performance based on a disciplined, team-based approach, with exceptional client service. Westfield believes their greatest strength comes from the collective wisdom of a fully engaged and inspired team working together with clear objectives. Additionally, Westfield embraces their partnership structure, which aligns the advancement of the organization with their clients and serves to attract and retain exceptional talent.

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. 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 of issuers in emerging market regions. Foreign currencies can decline in value and can adversely affect the dollar value of the fund. Since the Fund typically invests in a limited number of companies, an adverse event affecting a particular company may hurt the Fund's performance more than if it had invested in a larger number of companies. Health Care Industry Risk: Because the Fund seeks to invest all, or substantially all, of its assets in the health care industry, the value of its shares will depend on the general condition of the that industry. The health care industry may be affected by any number of factors, including, but not limited to, lapsing patent protection, industry innovation, extensive government regulation, restrictions on government reimbursement for medical expenses, research and development costs, limited product lines, product liability litigation, an increased emphasis on outpatient services, and competitive forces. Authorized Participant Concentration/Trading Risk: Only authorized participants ("APs") may engage in creation or redemption transactions directly with the Fund. The Fund is classified as non-diversified, a non-diversified Fund may invest a greater percentage of its assets in securities of a single issuer, and/or invest in a relatively small number of issuers, it is more susceptible to risks associated with a single economic, political or regulatory occurrence than a more diversified portfolio. New Fund Risk: 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. Small and Mid Cap Risk: The Fund's performance may be more volatile because it may invest in issuers that are smaller companies.

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).

2912371 

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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 © 2024 Harbor Capital Advisors, Inc. All rights reserved.