Harbor Capital Logo

Harbor Active Small Cap Growth ETF (SGRW)

Access highly active small cap growth, in a convenient ETF

NAV as of 9/10/2026
$24.72
NAV Daily Change
-$0.36
NAV YTD Return
22.68%
Net Expense Ratio (%)
0.80
Total Net Assets (million) as of 9/11/2026
$27.814
Benchmark
Russell 2000® Growth Index

Exposure to U.S. small cap innovation leaders

  • Specialized small cap growth expertise. SGRW provides access to Granahan Investment Management, an employee-owned boutique founded in 1985 focused on small cap growth investing. The team brings deep sector knowledge, particularly in Technology and Health Care, which Harbor believes are two of the most dynamic engines of small cap innovation and long-term growth potential.
  • Multi-PM structure with independent sources of alpha potential. The portfolio is constructed of five high-conviction sleeves, each run by a portfolio manager with decades of experience. This approach blends individual expertise with team collaboration and aims to reduce behavioral bias and strengthen overall alpha potential.
  • High-conviction and diversified exposure. SGRW provides meaningful exposure to top opportunities while maintaining broad diversification across sectors and growth profiles. 

Investment Team

Granahan Default Logo image
Andrew L. Beja
Jeffrey A. Harrison
David M. Rose
Richard Watson
Kelvin Jiang

Learn More

As of 9/10/2026

$24.72

Price (NAV)

-$0.36

NAV Daily Change ($)

-1.44%

NAV Daily Change (%)

22.68%

NAV YTD Return

$24.72

Market Price

-$0.39

Market Daily Change ($)

-1.55%

Market Daily Change (%)

22.68%

Market YTD Return

As of 9/10/2026

1/14/2026

Inception Date

0.80

Expense Ratio (%)

$27.814

Total Net Assets (million)

1,125,000

Shares Outstanding
(As of 9/11/2026)

SGRW

Ticker

41151J596

Cusip

NYSE Arca

Exchange

US41151J5965

ISIN

Foreside Fund Services, LLC

Distributor

Annual

Dividend Frequency

Small Cap Growth

Morningstar Category

Russell 2000® Growth Index

Benchmark

2,655,216

Implied Liquidity™ (Shares)

$66,598,337.47

Implied Liquidity

Investment Objective:

The Fund seeks long-term growth of capital.

As of 9/10/2026

$24.73

Bid/Ask Mid Price

$24.72

Closing Market Price

$0.00

Premium/Discount ($)

0.01%

Premium/Discount (%)
Q1 2026
Q2 2026
Q3 2026
Since Incp.
Days Traded at a Premium
49
56
29
134
Days Traded at a Discount
3
6
21
30

0.26%

30-Day Median Bid/Ask Spread

782

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Select an option

Loading Performance Data...

3 Mo.
Since Fund Inception
Net Expense Ratio
Gross Expense Ratio
Active Small Cap Growth ETF - at NAV
46.06%
31.71%
0.80%
0.80%
Market Price
46.18%
31.81%
--
--
Russell 2000® Growth Index
25.71%
14.29%
--
--

Performance data shown represents past performance and is no guarantee of future results. Fund 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 2000® Growth Index is an unmanaged index representing the smallest 2000 stocks with the highest price‑to‑book ratio and future earnings. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 2000® Growth Index and Russell® are trademarks of Frank Russell Company.

Select an option

Sorry, there is no data available for this section

Holdings

Sorry, there is no data available for this section

As of 9/10/2026

Company Name [Ticker]
% of Net Assets
SILICON MOTION TECHNOL-ADR[SIMO]
4.0
PORCH GROUP INC[PRCH]
3.7
MAGNITE INC[MGNI]
2.5
DIGITAL TURBINE INC[APPS]
2.3
CASELLA WASTE SYSTEMS INC-A[CWST]
2.1
SI-BONE INC[SIBN]
1.9
REPLIGEN CORP[RGEN]
1.8
FTAI AVIATION LTD[FTAI]
1.8
JFROG LTD[FROG]
1.7
GATES INDUSTRIAL CORP LTD[GTES]
1.7
% of Total Holdings:
23.5%

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 9/10/2026

Company Name [Ticker]
Category Name
Country
Cusip
Shares
Current Price ($)
Market Value ($)
% of Net Assets
SILICON MOTION TECHNOL-ADR [SIMO]
EQUITY
82706C108
4,105
265.25
1,088,851.25
4.0
PORCH GROUP INC [PRCH]
EQUITY
733245104
62,917
16.29
1,024,917.93
3.7
MAGNITE INC [MGNI]
EQUITY
55955D100
29,221
23.55
688,154.55
2.5
DIGITAL TURBINE INC [APPS]
EQUITY
25400W102
53,564
11.80
632,055.20
2.3
CASELLA WASTE SYSTEMS INC-A [CWST]
EQUITY
147448104
6,273
89.94
564,193.62
2.1
SI-BONE INC [SIBN]
EQUITY
825704109
28,586
18.30
523,123.80
1.9
REPLIGEN CORP [RGEN]
EQUITY
759916109
3,023
164.68
497,827.64
1.8
FTAI AVIATION LTD [FTAI]
EQUITY
G3730V105
2,703
180.09
486,783.27
1.8
JFROG LTD [FROG]
EQUITY
M6191J100
5,393
88.65
478,089.45
1.7
GATES INDUSTRIAL CORP LTD [GTES]
EQUITY
G39104107
18,596
25.63
476,615.48
1.7
DAVE INC [DAVE]
EQUITY
23834J201
1,312
358.36
470,168.32
1.7
NUTANIX INC - A [NTNX]
EQUITY
67059N108
6,932
65.42
453,491.44
1.7
DESCARTES SYSTEMS GRP/THE [DSGX]
EQUITY
249906108
6,282
71.32
448,032.24
1.6
RBC BEARINGS INC [RBC]
EQUITY
75524B104
912
478.06
435,990.72
1.6
ORTHOPEDIATRICS CORP [KIDS]
EQUITY
68752L100
20,097
21.56
433,291.32
1.6
TEXAS CAPITAL BANCSHARES INC [TCBI]
EQUITY
88224Q107
4,181
98.90
413,500.90
1.5
GUIDEWIRE SOFTWARE INC [GWRE]
EQUITY
40171V100
2,914
140.09
408,222.26
1.5
MATERION CORP [MTRN]
EQUITY
576690101
1,570
251.67
395,121.90
1.4
INDIE SEMICONDUCTOR INC-A [INDI]
EQUITY
45569U101
106,732
3.31
353,282.92
1.3
ONTO INNOVATION INC [ONTO]
EQUITY
683344105
1,285
268.92
345,562.20
1.3
CHIME FINANCIAL INC-CL A [CHYM]
EQUITY
16935C109
10,481
32.67
342,414.27
1.2
LIGAND PHARMACEUTICALS [LGND]
EQUITY
53220K504
1,128
289.25
326,274.00
1.2
ZETA GLOBAL HOLDINGS CORP-A [ZETA]
EQUITY
98956A105
10,653
30.56
325,555.68
1.2
CELCUITY INC [CELC]
EQUITY
15102K100
3,644
85.49
311,525.56
1.1
HEALTHEQUITY INC [HQY]
EQUITY
42226A107
3,264
94.55
308,611.20
1.1
STOKE THERAPEUTICS INC [STOK]
EQUITY
86150R107
10,439
29.34
306,280.26
1.1
ALKAMI TECHNOLOGY INC [ALKT]
EQUITY
01644J108
15,165
19.06
289,044.90
1.1
GRAIL INC [GRAL]
EQUITY
384747101
3,699
77.56
286,894.44
1.0
SHARKNINJA INC [SN]
EQUITY
G8068L108
1,670
162.58
271,508.60
1.0
FIGURE TECHNOLOGY SOLUT-CL A [FIGR]
EQUITY
349381103
7,199
36.57
263,267.43
1.0
NEUTRON HOLDINGS INC [LIME]
EQUITY
64125S104
7,769
32.72
254,201.68
0.9
CELLEBRITE DI LTD [CLBT]
EQUITY
M2197Q107
22,327
11.325
252,853.28
0.9
BWX TECHNOLOGIES INC [BWXT]
EQUITY
05605H100
1,651
152.49
251,760.99
0.9
KINIKSA PHARMACEUTICALS INTE [KNSA]
EQUITY
--
3,277
76.48
250,624.96
0.9
AGILYSYS INC [AGYS]
EQUITY
00847J105
2,338
105.47
246,588.86
0.9
DIGITALOCEAN HOLDINGS INC [DOCN]
EQUITY
25402D102
1,841
131.05
241,263.05
0.9
TWIST BIOSCIENCE CORP [TWST]
EQUITY
90184D100
1,893
126.85
240,127.05
0.9
SYNDAX PHARMACEUTICALS INC [SNDX]
EQUITY
87164F105
12,684
18.82
238,712.88
0.9
MAREX GROUP LTD [MRX]
EQUITY
G5T40M104
3,195
74.09
236,717.55
0.9
NEXTPOWER INC [NXT]
EQUITY
65290E101
2,833
81.35
230,464.55
0.8
SPYRE THERAPEUTICS INC [SYRE]
EQUITY
00773J202
2,581
88.71
228,960.51
0.8
QXO INC [QXO]
EQUITY
82846H405
18,573
12.29
228,262.17
0.8
SCHOLAR ROCK HOLDING CORP [SRRK]
EQUITY
80706P103
4,004
55.67
222,902.68
0.8
NETSKOPE INC-CL A [NTSK]
EQUITY
64119N608
14,538
15.10
219,523.80
0.8
ALLEGRO MICROSYSTEMS INC [ALGM]
EQUITY
01749D105
6,179
35.27
217,933.33
0.8
CHEFS' WAREHOUSE INC/THE [CHEF]
EQUITY
163086101
1,980
109.77
217,344.60
0.8
IMMUNOME INC [IMNM]
EQUITY
45257U108
8,686
24.97
216,889.42
0.8
ARLO TECHNOLOGIES INC [ARLO]
EQUITY
04206A101
16,517
13.00
214,721.00
0.8
VEECO INSTRUMENTS INC [VECO]
EQUITY
922417100
4,857
43.90
213,222.30
0.8
RHYTHM PHARMACEUTICALS INC [RYTM]
EQUITY
76243J105
2,070
102.20
211,554.00
0.8
PROTAGONIST THERAPEUTICS INC [PTGX]
EQUITY
74366E102
1,451
145.16
210,627.16
0.8
TOAST INC-CLASS A [TOST]
EQUITY
888787108
6,476
31.94
206,843.44
0.8
VITA COCO CO INC/THE [COCO]
EQUITY
92846Q107
4,043
51.10
206,597.30
0.8
ZYMEWORKS INC [ZYME]
EQUITY
98985Y108
7,785
26.435
205,796.48
0.8
UNUSUAL MACHINES INC /US [UMAC]
EQUITY
91532F102
8,627
23.53
202,993.31
0.7
EDGEWISE THERAPEUTICS INC [EWTX]
EQUITY
28036F105
4,726
42.90
202,745.40
0.7
CECO ENVIRONMENTAL CORP [CECO]
EQUITY
125141101
2,646
75.39
199,481.94
0.7
MP MATERIALS CORP [MP]
EQUITY
553368101
3,851
51.32
197,633.32
0.7
LATTICE SEMICONDUCTOR CORP [LSCC]
EQUITY
518415104
1,722
114.14
196,549.08
0.7
BEL FUSE INC-CL B [BELFB]
EQUITY
077347300
790
243.00
191,970.00
0.7
GENERAC HOLDINGS INC [GNRC]
EQUITY
368736104
1,035
181.67
188,028.45
0.7
IMMUNOVANT INC [IMVT]
EQUITY
45258J102
4,902
38.10
186,766.20
0.7
TAYSHA GENE THERAPIES INC [TSHA]
EQUITY
877619106
35,456
5.16
182,952.96
0.7
ARXIS INC-A [ARXS]
EQUITY
04339D105
3,468
51.98
180,266.64
0.7
LIFE TIME GROUP HOLDINGS INC [LTH]
EQUITY
53190C102
4,340
41.48
180,023.20
0.7
ORUKA THERAPEUTICS INC [ORKA]
EQUITY
687604108
1,913
91.65
175,326.45
0.6
RADNET INC [RDNT]
EQUITY
750491102
2,296
74.28
170,546.88
0.6
KINSALE CAPITAL GROUP INC [KNSL]
EQUITY
49714P108
463
362.70
167,930.10
0.6
GREEN BRICK PARTNERS INC [GRBK]
EQUITY
392709101
2,473
67.50
166,927.50
0.6
IRADIMED CORP [IRMD]
EQUITY
46266A109
2,031
81.87
166,277.97
0.6
XERIS BIOPHARMA HOLDINGS INC [XERS]
EQUITY
98422E103
21,558
7.67
165,349.86
0.6
GENIUS SPORTS LTD [GENI]
EQUITY
G3934V109
24,572
6.72
165,123.84
0.6
CORVEL CORP [CRVL]
EQUITY
221006109
2,431
67.69
164,554.39
0.6
BRIDGEBIO PHARMA INC [BBIO]
EQUITY
10806X102
2,250
72.50
163,125.00
0.6
JBT MAREL CORP [JBTM]
EQUITY
477839104
1,401
112.40
157,472.40
0.6
WILLSCOT HOLDINGS CORP [WSC]
EQUITY
971378104
8,237
18.685
153,908.35
0.6
XENON PHARMACEUTICALS INC [XENE]
EQUITY
98420N105
2,608
58.80
153,350.40
0.6
DYNE THERAPEUTICS INC [DYN]
EQUITY
26818M108
8,278
18.42
152,480.76
0.6
RAMBUS INC [RMBS]
EQUITY
750917106
1,662
85.35
141,851.70
0.5
OKTA INC [OKTA]
EQUITY
679295105
811
171.11
138,770.21
0.5
908 DEVICES INC [MASS]
EQUITY
65443P102
14,670
9.35
137,164.50
0.5
EXLSERVICE HOLDINGS INC [EXLS]
EQUITY
302081104
3,779
34.62
130,828.98
0.5
RIGETTI COMPUTING INC [RGTI]
EQUITY
76655K103
8,335
15.16
126,358.60
0.5
BETA BIONICS INC [BBNX]
EQUITY
08659B102
7,427
16.59
123,213.93
0.4
CALLAWAY GOLF COMPANY [CALY]
EQUITY
131193104
8,055
15.29
123,160.95
0.4
FIRST TRACKS BIOTHERAPEUTICS [TRAX]
EQUITY
337185102
3,229
37.98
122,637.42
0.4
ADVANCED ENERGY INDUSTRIES [AEIS]
EQUITY
007973100
447
273.74
122,361.78
0.4
IRHYTHM HOLDINGS INC [IRTC]
EQUITY
450056106
1,081
112.88
122,023.28
0.4
VIAVI SOLUTIONS INC [VIAV]
EQUITY
925550105
3,242
37.40
121,250.80
0.4
CORE SCIENTIFIC INC [CORZ]
EQUITY
21874A106
6,975
17.37
121,155.75
0.4
LIGHTPATH TECHNOLOGIES INC-A [LPTH]
EQUITY
532257805
12,126
9.68
117,379.68
0.4
OWLET INC [OWLT]
EQUITY
69120X206
23,130
4.69
108,479.70
0.4
ALIGNMENT HEALTHCARE INC [ALHC]
EQUITY
01625V104
8,494
12.76
108,383.44
0.4
KURA SUSHI USA INC-CLASS A [KRUS]
EQUITY
501270102
2,609
41.13
107,308.17
0.4
TANGO THERAPEUTICS INC [TNGX]
EQUITY
87583X109
4,459
23.37
104,206.83
0.4
ARTERIS INC [AIP]
EQUITY
04302A104
4,538
22.41
101,696.58
0.4
WARBY PARKER INC-CLASS A [WRBY]
EQUITY
93403J106
4,094
24.30
99,484.20
0.4
GLOBAL-E ONLINE LTD [GLBE]
EQUITY
M5216V106
2,567
36.50
93,695.50
0.3
CRYOPORT INC [CYRX]
EQUITY
229050307
5,988
15.27
91,436.76
0.3
KARMAN HOLDINGS INC [KRMN]
EQUITY
485924104
2,383
34.39
81,951.37
0.3
KORNIT DIGITAL LTD [KRNT]
EQUITY
M6372Q113
5,265
15.56
81,923.40
0.3
AEROVIRONMENT INC [AVAV]
EQUITY
008073108
541
147.065
79,562.17
0.3
VIKING THERAPEUTICS INC [VKTX]
EQUITY
92686J106
2,354
32.13
75,634.02
0.3
CYTOKINETICS INC [CYTK]
EQUITY
23282W605
992
73.62
73,031.04
0.3
CARPENTER TECHNOLOGY [CRS]
EQUITY
144285103
162
448.27
72,619.74
0.3
BRIDGEBIO ONCOLOGY THERAPEUT [BBOT]
EQUITY
107924102
12,553
5.52
69,292.56
0.3
CAVA GROUP INC [CAVA]
EQUITY
148929102
1,138
54.00
61,452.00
0.2
ANAPTYSBIO INC [ANAB]
EQUITY
032724106
1,085
55.16
59,848.60
0.2
FORGENT POWER SOLUTIONS-CL A [FPS]
EQUITY
34631F102
1,976
29.20
57,699.20
0.2
SWEETGREEN INC - CLASS A [SG]
EQUITY
87043Q108
8,461
6.76
57,196.36
0.2
ONTERRIS INC [ONT]
EQUITY
615111101
3,016
18.16
54,770.56
0.2
LINDBLAD EXPEDITIONS HOLDING [LIND]
EQUITY
535219109
1,983
25.29
50,150.07
0.2
REPLIMUNE GROUP INC [REPL]
EQUITY
76029N106
3,665
13.24
48,524.60
0.2
MAMA'S CREATIONS INC [MAMA]
EQUITY
56146T103
3,156
15.02
47,403.12
0.2
ALMONTY INDUSTRIES INC [ALM]
EQUITY
020398707
2,746
16.57
45,501.22
0.2
BOOT BARN HOLDINGS INC [BOOT]
EQUITY
099406100
311
140.68
43,751.48
0.2
LUMEXA IMAGING HOLDINGS INC [LMRI]
EQUITY
550249106
3,870
11.19
43,305.30
0.2
BETA TECHNOLOGIES INC -CL A [BETA]
EQUITY
086921103
2,160
19.89
42,962.40
0.2
SPS COMMERCE INC [SPSC]
EQUITY
78463M107
506
77.23
39,078.38
0.1
TTM TECHNOLOGIES [TTMI]
EQUITY
87305R109
318
122.34
38,904.12
0.1
STRATA CRITICAL MEDICAL INC [SRTA]
EQUITY
092667104
7,428
5.13
38,105.64
0.1
CENTRUS ENERGY CORP-CLASS A [LEU]
EQUITY
15643U104
225
165.87
37,320.75
0.1
BLUE BIRD CORP [BLBD]
EQUITY
095306106
601
62.05
37,292.05
0.1
TRIVAGO NV - ADR [TRVG]
EQUITY
89686D303
6,434
5.65
36,352.10
0.1
NLIGHT INC [LASR]
EQUITY
65487K100
854
39.29
33,553.66
0.1
QUANTINUUM INC-A [QNT]
EQUITY
74768A104
588
48.67
28,617.96
0.1
EVOLV TECHNOLOGIES HOLDINGS [EVLV]
EQUITY
30049H102
5,491
4.97
27,290.27
0.1
FIRST WATCH RESTAURANT GROUP [FWRG]
EQUITY
33748L101
2,343
11.19
26,218.17
0.1
ENPHASE ENERGY INC [ENPH]
EQUITY
29355A107
709
36.88
26,147.92
0.1
CAPSTONE ENERGY+ INC [CEPL]
EQUITY
14067D607
4,786
5.38
25,748.68
0.1
YORK SPACE SYSTEMS INC [YSS]
EQUITY
987084100
3,224
7.47
24,083.28
0.1
COMPASS INC - CLASS A [COMP]
EQUITY
20464U100
2,295
10.13
23,248.35
0.1
EYEPOINT INC [EYPT]
EQUITY
30233G209
3,331
4.25
14,156.75
0.1
Total
--
--
--
--
--
27,410,476.24
100.0
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
0.0
Total Net Assets
--
--
--
--
--
--
100.0

As of 8/31/2026

Sector Breakdown

Health Care

SGRW

29.7%

Benchmark

29.9%

Information Technology

SGRW

29.3%

Benchmark

18.8%

Industrials

SGRW

15.7%

Benchmark

15.6%

Financials

SGRW

11.1%

Benchmark

10.0%

Consumer Discretionary

SGRW

5.5%

Benchmark

9.0%

Communication Services

SGRW

2.5%

Benchmark

2.3%

Materials

SGRW

2.2%

Benchmark

4.5%

Cash

SGRW

1.9%

Benchmark

0.0%

Consumer Staples

SGRW

1.8%

Benchmark

1.6%

Energy

SGRW

0.1%

Benchmark

5.7%

Real Estate

SGRW

<0.1%

Benchmark

2.3%

Utilities

SGRW

0.0%

Benchmark

0.3%

SGRW: Active Small Cap Growth ETF

Benchmark: Russell 2000® Growth Index

As of 8/31/2026

Economic Sector
Active Small Cap Growth ETF %
Russell 2000® Growth Index %

Communication Services

44.4
-2.3

Financials

42.6
10.8

Consumer Staples

26.8
4.0

Health Care

21.7
17.7

Consumer Discretionary

12.5
8.6

Materials

3.3
-12.3

Information Technology

0.0
-12.5

Utilities

--
-1.3

Energy

-6.1
2.9

Industrials

-10.9
-16.6

Real Estate

-12.0
3.9

Investment Team

Granahan Default Logo image

Granahan Investment Management is an independent, employee‑owned boutique founded in 1985 and dedicated exclusively to small cap growth investing. SGRW is managed by a team of five senior portfolio managers who each run a distinct, high‑conviction sleeve, combining deep sector expertise, collaborative research, and decades of experience. This multi‑PM structure brings together diverse perspectives and specialized insights to create multiple sources of potential alpha within a unified portfolio.

Andrew L. Beja

Andrew L. Beja

CFA, SVP and Managing Director

Jeffrey A. Harrison

Jeffrey A. Harrison

CFA, SVP and Managing Director

David M. Rose

David M. Rose

CFA, SVP, CIO, and Managing Director

Richard Watson

Richard Watson

CFA, SVP and Portfolio Manager

Kelvin Jiang

Kelvin Jiang

CFA, VP and Portfolio Manager

Important Information

Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. The ETF is new and has 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. Stocks of small cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. At times, a growth investing style may be out of favor with investors which could cause growth securities to underperform value or other equity securities. The Fund's investments in foreign securities, particularly emerging markets, expose it to higher risks than funds investing only in the U.S., including currency risk, which may negatively impact its value if foreign currencies fluctuate against the U.S. dollar. Depositary receipts carry risks like political instability, currency fluctuations, higher costs, and weaker investor protections. , which may negatively impact its value if foreign currencies fluctuate against the U.S. dollar. Depositary receipts carry risks like political instability, currency fluctuations, higher costs, and weaker investor protections. 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.

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 is the risk‑adjusted excess return of an investment relative to the return of a benchmark index.