https://images.contentstack.io/v3/assets/blt56fad3014e7f45aa/blt4913f81136ad577a/610d2d8063c3aa6f8074a22a/harbor-logo.svg
Search

Harbor Mid Cap Value Fund (HAMVX)

Overview
Performance
Holdings
Investment Team
Documents

Overview

Current Price

as of 5/20/2022

NAV Price

$23.84

NAV Daily Change ($)

-$0.17

NAV Daily Change (%)

-0.71%

NAV YTD Return

-7.24%

Morningstar Silver

Morningstar Analyst Rating™

The Morningstar Analyst Rating™ is based on the covering Morningstar Analyst's conviction in the fund's ability to outperform its peer group and/or relevant benchmark on a risk-adjusted basis over the long term. Harbor offers several funds with Gold, Silver, or Bronze ratings.

Source: Morningstar

Fund Facts

Inception Date

3/1/2002

Net Expense Ratio

0.85%disclaimer

Gross Expense Ratio

0.89%

Total Net Assets (million)

as of 4/30/2022

$311.523

Ticker

HAMVX

Fund Number

2023

Share Class

Institutional

Top Ten Holdings

as of 3/31/2022

McKesson Corporation [MCK]

1.8%

Kroger Co. [KR]

1.7%

HP Inc. [HPQ]

1.7%

Hartford Financial Services Group Inc. [HIG]

1.5%

Tyson Foods Inc. Class A [TSN]

1.5%

Molson Coors Beverage Company Class B [TAP]

1.4%

Citizens Financial Group Inc. [CFG]

1.4%

AGCO Corporation [AGCO]

1.4%

Jazz Pharmaceuticals Public Limited Company [JAZZ]

1.3%

Allstate Corporation [ALL]

1.3%

% of Total Holdings:

15.0%

Morningstar Silver

Morningstar Analyst Rating™

The Morningstar Analyst Rating™ is based on the covering Morningstar Analyst's conviction in the fund's ability to outperform its peer group and/or relevant benchmark on a risk-adjusted basis over the long term. Harbor offers several funds with Gold, Silver, or Bronze ratings.

Source: Morningstar

left quote

"We buy boring companies, not distressed companies. These are companies that are in basic businesses, they have been around for a long time and generally they haven’t excited the marketplace. The result is that they tend to be underpriced."

right quote

SV Asset Management

Performance

Total Returns

MONTH-END
QUARTER-END
MONTH-BY-MONTH
YEAR-BY-YEAR

Fund Name

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

10 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Mid Cap Value Fund

-3.92%

-5.53%

-1.65%

7.35%

5.31%

10.19%

7.62%

0.85%disclaimer

0.89%

Russell Midcap® Value Index

-3.54%

-7.65%

0.00%

10.19%

8.61%

11.40%

9.85%

--

--

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 harborfunds.com or by calling 800-422-1050.

The Russell Midcap® Value Index is an unmanaged index generally representative of the U.S. market for medium capitalization value stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell Midcap® Value Index and Russell® are trademarks of Frank Russell Company.

Price History

CHART
TABLE

Record Date

Reinvest Date

Payable Date

Return of Capital Non Taxable Dist

Ordinary Income

Total Capital Gains

Short Term Capital Gains

Mid Term Capital Gains

Long Term Capital Gains

Total Distribution

Foreign Tax Credit

Reinvest Price

12/17/2021

12/20/2021

12/20/2021

0.00000

0.32514

0.00000

--

0.00000

--

0.32514

0.00000

--

12/16/2020

12/17/2020

12/17/2020

0.00000

0.47142

0.00000

0.00000

0.00000

0.00000

0.47142

0.00000

19.94

12/13/2019

12/16/2019

12/16/2019

0.00000

0.51472

0.14724

0.00000

0.00000

0.14724

0.66196

0.00000

21.16

12/14/2018

12/17/2018

12/17/2018

0.00000

0.35174

1.15318

0.12272

0.00000

1.03046

1.50492

0.00000

18.09

12/15/2017

12/18/2017

12/18/2017

0.00000

0.31062

0.59293

0.18085

0.00000

0.41208

0.90355

0.00000

23.62

12/16/2016

12/19/2016

12/19/2016

0.00000

0.35393

0.31339

0.06717

0.00000

0.24622

0.66732

0.00000

22.08

12/16/2015

12/17/2015

12/17/2015

0.00000

0.26872

0.35444

0.13104

0.00000

0.22340

0.62316

0.00000

18.78

12/17/2014

12/18/2014

12/18/2014

0.00000

0.19256

0.12942

0.00000

0.00000

0.12942

0.32198

0.00000

20.52

12/16/2013

12/17/2013

12/17/2013

0.00000

0.19572

0.00000

0.00000

0.00000

0.00000

0.19572

0.00000

17.75

12/14/2012

12/17/2012

12/17/2012

0.00000

0.28075

0.00000

0.00000

0.00000

0.00000

0.28075

0.00000

12.84

12/15/2011

12/16/2011

12/16/2011

0.00000

0.14537

0.00000

0.00000

0.00000

0.00000

0.14537

0.00000

10.64

12/16/2010

12/17/2010

12/17/2010

0.00000

0.12337

0.00000

0.00000

0.00000

0.00000

0.12337

0.00000

11.54

12/17/2009

12/18/2009

12/18/2009

0.00000

0.14296

0.00000

0.00000

0.00000

0.00000

0.14296

0.00000

9.65

12/18/2008

12/19/2008

12/19/2008

0.00000

0.32993

0.00000

0.00000

0.00000

0.00000

0.32993

0.00000

6.92

12/18/2007

12/19/2007

12/19/2007

0.00000

0.18581

0.46949

0.14958

0.00000

0.31991

0.65530

0.00000

11.69

12/18/2006

12/19/2006

12/19/2006

0.00000

0.11586

0.36971

0.04626

0.00000

0.32345

0.48557

0.00000

13.32

12/19/2005

12/20/2005

12/20/2005

0.00000

0.13413

0.29396

0.13690

0.00000

0.15706

0.42809

0.00000

11.92

12/29/2004

12/30/2004

12/30/2004

0.00000

0.04575

0.95868

0.00000

0.00000

0.95868

1.00443

0.00000

11.21

12/29/2003

12/30/2003

12/30/2003

0.00000

0.01153

0.00000

0.00000

0.00000

0.00000

0.01153

0.00000

10.63

12/27/2002

12/30/2002

12/30/2002

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

8.61

Holdings

Portfolio Characteristics

as of 3/31/2022

Mid Cap Value Fund

Number of Holdings

155

Wtd Avg Market Cap ($Mil)

14333.1

Price/Book Ratio

1.86

Adjusted Trailing P/E Ratio

9.9

% EPS Growth - Past 3 Yr

16.3

Return on Equity (%)

18.92

Forecasted P/E Ratio

10.6

Proj. Earnings Growth Rate (%)

10.5

Top Ten Holdings

as of 3/31/2022

Company Name [Ticker]

% of Net Assets

McKesson Corporation[MCK]

1.8

Kroger Co.[KR]

1.7

HP Inc.[HPQ]

1.7

Hartford Financial Services Group Inc.[HIG]

1.5

Tyson Foods Inc. Class A[TSN]

1.5

Molson Coors Beverage Company Class B[TAP]

1.4

Citizens Financial Group Inc.[CFG]

1.4

AGCO Corporation[AGCO]

1.4

Jazz Pharmaceuticals Public Limited Company[JAZZ]

1.3

Allstate Corporation[ALL]

1.3

% of Total Holdings:

15.0%

This information should not be considered as a recommendation to purchase or sell a particular security. The holdings mentioned may change at any time and may not represent current or future investments.

as of 3/31/2022

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

McKesson Corporation [MCK]

United States

25

306.13

7,561

1.8

Kroger Co. [KR]

United States

126

57.37

7,234

1.7

HP Inc. [HPQ]

United States

199

36.30

7,206

1.7

Hartford Financial Services Group Inc. [HIG]

United States

86

71.81

6,154

1.5

Tyson Foods Inc. Class A [TSN]

United States

68

89.63

6,104

1.5

Molson Coors Beverage Company Class B [TAP]

United States

111

53.38

5,898

1.4

Citizens Financial Group Inc. [CFG]

United States

128

45.33

5,811

1.4

AGCO Corporation [AGCO]

United States

39

146.03

5,666

1.4

Jazz Pharmaceuticals Public Limited Company [JAZZ]

United States

36

155.67

5,620

1.3

Allstate Corporation [ALL]

United States

40

138.51

5,513

1.3

Seagate Technology Holdings PLC [STX]

United States

57

89.90

5,151

1.2

Ally Financial Inc [ALLY]

United States

118

43.48

5,109

1.2

Atlas Air Worldwide Holdings Inc. [AAWW]

United States

58

86.37

5,027

1.2

Whirlpool Corporation [WHR]

United States

27

172.78

4,717

1.1

Regions Financial Corporation [RF]

United States

209

22.26

4,652

1.1

Arrow Electronics Inc. [ARW]

United States

39

118.63

4,603

1.1

Triton International Ltd. Class A [TRTN]

United States

66

70.18

4,607

1.1

Ingles Markets Incorporated Class A [IMKTA]

United States

50

89.05

4,462

1.1

Ameriprise Financial Inc. [AMP]

United States

15

300.36

4,385

1.0

Devon Energy Corporation [DVN]

United States

74

59.13

4,387

1.0

Reliance Steel & Aluminum Co. [RS]

United States

24

183.35

4,355

1.0

Owens Corning [OC]

United States

47

91.50

4,337

1.0

Vistra Corp. [VST]

United States

186

23.25

4,327

1.0

Huntsman Corporation [HUN]

United States

115

37.51

4,295

1.0

Principal Financial Group Inc. [PFG]

United States

58

73.41

4,287

1.0

Snap-on Incorporated [SNA]

United States

21

205.48

4,233

1.0

Zions Bancorporation N.A. [ZION]

United States

63

65.56

4,150

1.0

Greif Class A [GEF]

United States

61

65.06

3,975

1.0

Allison Transmission Holdings Inc. [ALSN]

United States

101

39.26

3,950

0.9

DaVita Inc. [DVA]

United States

35

113.11

3,970

0.9

eBay Inc. [EBAY]

United States

68

57.26

3,917

0.9

KeyCorp [KEY]

United States

171

22.38

3,836

0.9

Lincoln National Corporation [LNC]

United States

58

65.36

3,765

0.9

Cummins Inc. [CMI]

United States

18

205.11

3,610

0.9

Aflac Incorporated [AFL]

United States

56

64.39

3,580

0.9

Chemours Co. [CC]

United States

112

31.48

3,530

0.8

Penske Automotive Group Inc. [PAG]

United States

37

93.72

3,449

0.8

Archer-Daniels-Midland Company [ADM]

United States

38

90.26

3,403

0.8

Toll Brothers Inc. [TOL]

United States

73

47.02

3,414

0.8

WestRock Company [WRK]

United States

72

47.03

3,400

0.8

Fox Corporation Class A [FOXA]

United States

85

39.45

3,361

0.8

Jabil Inc. [JBL]

United States

54

61.73

3,327

0.8

Old Republic International Corporation [ORI]

United States

129

25.87

3,340

0.8

Fifth Third Bancorp [FITB]

United States

74

43.04

3,176

0.8

National Fuel Gas Company [NFG]

United States

47

68.70

3,208

0.8

Navient Corp [NAVI]

United States

187

17.04

3,181

0.8

Brixmor Property Group Inc. [BRX]

United States

122

25.81

3,138

0.8

Atkore Inc [ATKR]

United States

31

98.44

3,071

0.7

Cabot Corporation [CBT]

United States

45

68.41

3,078

0.7

Iron Mountain Inc. [IRM]

United States

56

55.41

3,081

0.7

Bank of New York Mellon Corporation [BK]

United States

61

49.63

3,018

0.7

Qorvo Inc. [QRVO]

United States

24

124.10

3,028

0.7

Amkor Technology Inc. [AMKR]

United States

138

21.72

2,993

0.7

Marathon Petroleum Corporation [MPC]

United States

35

85.50

2,967

0.7

NRG Energy Inc. [NRG]

United States

78

38.36

2,992

0.7

Dick's Sporting Goods Inc. [DKS]

United States

30

100.02

2,961

0.7

Nexstar Media Group Inc. Class A [NXST]

United States

16

188.48

2,940

0.7

LyondellBasell Industries NV [LYB]

United States

28

102.82

2,879

0.7

PulteGroup Inc. [PHM]

United States

68

41.90

2,853

0.7

Best Buy Co. Inc. [BBY]

United States

31

90.90

2,818

0.7

Harley-Davidson Inc. [HOG]

United States

70

39.40

2,758

0.7

Universal Health Services Inc. Class B [UHS]

United States

19

144.95

2,754

0.7

Valero Energy Corporation [VLO]

United States

27

101.54

2,731

0.7

Omega Healthcare Investors Inc. [OHI]

United States

86

31.16

2,686

0.6

Ethan Allen Interiors Inc. [ETD]

United States

101

26.07

2,646

0.6

Celanese Corporation [CE]

United States

18

142.87

2,586

0.6

HF Sinclair Corporation [DINO]

United States

66

39.85

2,622

0.6

TEGNA Inc. [TGNA]

United States

116

22.40

2,601

0.6

ManpowerGroup Inc. [MAN]

United States

28

93.92

2,583

0.6

Silgan Holdings Inc. [SLGN]

United States

55

46.23

2,552

0.6

Sprouts Farmers Market Inc. [SFM]

United States

80

31.98

2,558

0.6

Lazard Ltd Class A [LAZ]

United States

72

34.50

2,481

0.6

Foot Locker Inc. [FL]

United States

82

29.66

2,426

0.6

Macy's Inc [M]

United States

100

24.36

2,424

0.6

Medical Properties Trust Inc. [MPW]

United States

114

21.14

2,418

0.6

DXC Technology Co. [DXC]

United States

73

32.63

2,392

0.6

Ingredion Incorporated [INGR]

United States

28

87.15

2,405

0.6

Piedmont Office Realty Trust Inc. Class A [PDM]

United States

138

17.22

2,381

0.6

Cardinal Health Inc. [CAH]

United States

42

56.70

2,370

0.6

Alaska Air Group Inc. [ALK]

United States

40

58.01

2,291

0.5

BorgWarner Inc. [BWA]

United States

59

38.90

2,291

0.5

H&R Block Inc. [HRB]

United States

88

26.04

2,286

0.5

Ironwood Pharmaceuticals Inc. Class A [IRWD]

United States

176

12.58

2,215

0.5

AMC Networks Inc. Class A [AMCX]

United States

54

40.63

2,190

0.5

J.M. Smucker Company [SJM]

United States

16

135.41

2,167

0.5

Lear Corporation [LEA]

United States

15

142.59

2,196

0.5

Methode Electronics Inc. [MEI]

United States

51

43.25

2,188

0.5

Western Union Company [WU]

United States

118

18.74

2,204

0.5

UGI Corporation [UGI]

United States

59

36.22

2,151

0.5

Ryder System Inc. [R]

United States

26

79.33

2,084

0.5

Berry Global Group Inc [BERY]

United States

36

57.96

2,075

0.5

Hanover Insurance Group Inc. [THG]

United States

14

149.52

2,048

0.5

Sabra Health Care REIT Inc. [SBRA]

United States

138

14.89

2,058

0.5

Thor Industries Inc. [THO]

United States

26

78.70

2,062

0.5

Group 1 Automotive Inc. [GPI]

United States

12

167.83

2,014

0.5

Industrial Logistics Properties Trust [ILPT]

United States

88

22.67

2,000

0.5

Unum Group [UNM]

United States

64

31.51

2,029

0.5

Paramount Global Class B [PARA]

United States

53

37.81

1,989

0.5

American Financial Group Inc. [AFG]

United States

13

145.62

1,951

0.5

Diodes Incorporated [DIOD]

United States

22

86.99

1,933

0.5

Gaming and Leisure Properties Inc. [GLPI]

United States

41

46.93

1,919

0.5

Brunswick Corporation [BC]

United States

23

80.89

1,885

0.5

MDU Resources Group Inc [MDU]

United States

71

26.65

1,902

0.5

United Therapeutics Corporation [UTHR]

United States

11

179.41

1,885

0.5

Xerox Holdings Corporation [XRX]

United States

94

20.17

1,894

0.5

Huntington Ingalls Industries Inc. [HII]

United States

9

199.44

1,855

0.4

TTM Technologies Inc. [TTMI]

United States

126

14.82

1,864

0.4

Conagra Brands Inc. [CAG]

United States

54

33.57

1,799

0.4

Franklin Street Properties Corp. [FSP]

United States

309

5.90

1,821

0.4

MGIC Investment Corporation [MTG]

United States

133

13.55

1,801

0.4

Avnet Inc. [AVT]

United States

43

40.59

1,749

0.4

O-I Glass Inc [OI]

United States

130

13.18

1,715

0.4

Radian Group Inc. [RDN]

United States

77

22.21

1,710

0.4

American International Group Inc. [AIG]

United States

27

62.77

1,695

0.4

L3Harris Technologies Inc [LHX]

United States

7

248.47

1,665

0.4

Laboratory Corporation of America Holdings [LH]

United States

6

263.66

1,687

0.4

Simon Property Group Inc. [SPG]

United States

13

131.56

1,671

0.4

ODP Corporation [ODP]

United States

36

45.83

1,659

0.4

Sanmina Corporation [SANM]

United States

41

40.42

1,641

0.4

Eastman Chemical Company [EMN]

United States

14

112.06

1,602

0.4

Prestige Consumer Healthcare Inc [PBH]

United States

30

52.94

1,604

0.4

SITE Centers Corp. [SITC]

United States

96

16.71

1,601

0.4

Voya Financial Inc. [VOYA]

United States

24

66.35

1,612

0.4

Discover Financial Services [DFS]

United States

14

110.19

1,543

0.4

Paramount Group Inc. [PGRE]

United States

139

10.91

1,516

0.4

American Axle & Manufacturing Holdings Inc. [AXL]

United States

187

7.76

1,454

0.4

Timken Company [TKR]

United States

25

60.70

1,487

0.4

United Airlines Holdings Inc. [UAL]

United States

32

46.36

1,460

0.4

Big Lots Inc. [BIG]

United States

42

34.60

1,436

0.3

First American Financial Corporation [FAF]

United States

22

64.82

1,413

0.3

Koppers Holdings Inc. [KOP]

United States

52

27.52

1,439

0.3

Oshkosh Corp [OSK]

United States

14

100.65

1,409

0.3

Tanger Factory Outlet Centers Inc. [SKT]

United States

83

17.19

1,425

0.3

TD SYNNEX Corporation [SNX]

United States

14

103.21

1,444

0.3

Brandywine Realty Trust [BDN]

United States

99

14.14

1,406

0.3

Vishay Intertechnology Inc. [VSH]

United States

70

19.60

1,368

0.3

Office Properties Income Trust [OPI]

United States

53

25.73

1,357

0.3

Banco Latinoamericano de Comercio Exterior S.A. Class E [BLX]

Panama

80

15.58

1,246

0.3

Hersha Hospitality Trust Class A [HT]

United States

138

9.08

1,252

0.3

Meritor Inc. [MTOR]

United States

35

35.57

1,249

0.3

Sturm Ruger & Company Inc. [RGR]

United States

18

69.62

1,246

0.3

Kohl's Corporation [KSS]

United States

20

60.46

1,233

0.3

MFA Financial Inc. [MFA]

United States

75

16.12

1,202

0.3

Annaly Capital Management Inc. [NLY]

United States

167

7.04

1,173

0.3

Travel + Leisure Co. [TNL]

United States

21

57.94

1,194

0.3

PennyMac Financial Services Inc. [PFSI]

United States

20

53.20

1,048

0.3

Trinseo Public Limited Company [TSE]

United States

22

47.92

1,030

0.3

Meritage Homes Corporation [MTH]

United States

13

79.23

1,022

0.2

Universal Insurance Holdings Inc. [UVE]

United States

75

13.49

1,014

0.2

Viatris Inc. [VTRS]

United States

93

10.88

1,017

0.2

Goodyear Tire & Rubber Company [GT]

United States

69

14.29

985

0.2

Capri Holdings Limited [CPRI]

United States

18

51.39

910

0.2

Service Properties Trust [SVC]

United States

102

8.83

904

0.2

Wabash National Corporation [WNC]

United States

54

14.84

797

0.2

Total

--

--

--

420,775

100.1

Cash and Other Assets Less Liabilities

--

--

--

--

-0.1

Total Net Assets

--

--

--

--

100%

as of 3/31/2022

Economic Sector

Mid Cap Value Fund %

Russell Midcap® Value Index %

Financials

20.9

16.5

Consumer Discretionary

13.9

9.3

Industrials

12.7

14.1

Information Technology

10.7

9.5

Materials

9.2

8.1

Consumer Staples

8.6

4.7

Real Estate

7.8

11.5

Health Care

7.3

7.8

Communication Services

3.1

3.5

Energy

3.0

7.2

Utilities

3.0

7.7

as of 3/31/2022

Economic Sector

Mid Cap Value Fund %

Russell Midcap® Value Index %

Energy

32.7

41.0

Communication Services

16.9

-1.1

Consumer Staples

10.7

7.7

Health Care

6.5

-4.9

Industrials

3.8

-8.1

Materials

2.5

5.6

Real Estate

0.7

-3.6

Utilities

0.0

3.8

Financials

-0.4

-2.5

Information Technology

-9.6

-9.9

Consumer Discretionary

-16.4

-12.9

Investment Team

LSV Asset Management


LSV Asset Management was established in 1994 as a partnership to provide domestic, international, and global value equity investment management services to institutional investors using their proprietary quantitative model. Their research and investment team developed the model through years of research in value investing, contrarian strategies, and behavioral finance. The firm’s roots in these areas of academic research form the core of their investment philosophy and continue to drive the evolution of the LSV model over time. LSV employs their approach to manage assets in strategies covering global equity markets encompassing all capitalization ranges.

Documents

Fund Documents

nav icon

Mid Cap Value Fund Quarterly Report

04/28/2022
nav icon

Mid Cap Value Fund Portfolio Holdings

05/02/2022
nav icon

login

Regulatory

nav icon

Mid Cap Value Fund Summary Prospectus

03/02/2022
nav icon

Harbor Mutual Fund Prospectus

05/02/2022
nav icon

Domestic Equity Annual Report

12/23/2021
nav icon

Domestic Equity Semi-Annual Report

12/08/2021
nav icon

Statement of Additional Information

05/02/2022
nav icon

Domestic Equity Fiscal Q3 Schedule of Holdings

12/08/2021
nav icon

Domestic Equity Fiscal Q1 Schedule of Holdings

03/31/2022

From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

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 value of securities selected using quantitative analysis can react differently to issuer, political, market, and economic developments than the market as a whole or securities selected using only fundamental analysis. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security's value. In addition, any model may contain flaws or the model may not perform as anticipated. Stocks of mid cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies.

The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause the Manager Research Group’s expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund.

The Morningstar Analyst Rating™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager Research Group uses this five-pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark over the long term on a risk adjusted basis. They consider quantitative and qualitative factors in their research. For actively managed strategies, people and process each receive a 45% weighting in their analysis, while parent receives a 10% weighting. For passive strategies, process receives an 80% weighting, while people and parent each receive a 10% weighting. For both active and passive strategies, performance has no explicit weight as it is incorporated into the analysis of people and process; price at the share-class level (where applicable) is directly subtracted from an expected gross alpha estimate derived from the analysis of the other pillars. The impact of the weighted pillar scores for people, process and parent on the final Analyst Rating is further modified by a measure of the dispersion of historical alphas among relevant peers. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, the modification by alpha dispersion is not used. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers for active funds. For passive funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will be able to deliver a higher alpha net of fees than the lesser of the relevant Morningstar category median or 0. The level of the rating relates to the level of expected net alpha relative to Morningstar category peers for passive funds. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will deliver a weighted pillar score above a predetermined threshold within its peer group. Analyst Ratings ultimately reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months. For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to https://shareholders.morningstar.com/investor-relations/governance/Compliance--Disclosure/default.aspx ©2022 Morningstar. 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.

blue background

Harbor Funds Distributors, Inc. is the Distributor of the Harbor Mutual Funds.
Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.  

Connect with us |

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 © 2022 Harbor Capital Advisors, Inc. All rights reserved.