HAPS
Harbor Human Capital Factor US Small Cap ETF
The Harbor Human Capital Factor US Small Cap ETF seeks to provide investors with long-term capital appreciation by investing primarily in a diversified portfolio of small-cap U.S. companies that exhibit strong human capital factors.
US
EQUITY
Passive
MANAGEMENT STYLE
$ 147.7 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | Harbor |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 12, 2023 |
| Assets (mns) | $148 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| INVESCO S&P SMALLCAP ENERGY ETF | 2.5 % |
| RHYTHM PHARMACEUTICALS, INC. | 2.2 % |
| PHILLIPS EDISON & COMPANY, INC. | 2.0 % |
| PTC THERAPEUTICS INC | 2.0 % |
| ADVANCED ENERGY INDUSTRIES | 1.8 % |
| PIPER JAFFRAY COS | 1.6 % |
| KYMERA THERAPEUTICS, INC. | 1.6 % |
| ARCOSA INC | 1.6 % |
| APPLE HOSPITALITY REIT INC | 1.5 % |
| RADIAN GROUP INC | 1.3 % |
Constituent Breakdown
| Number of holdings | 179 |
| Herfindahl-Hirschman Index | 94 |
| Wgt avg mkt cap (mns) | $3,335 |
| Large cap (>$10bn) | 1.2% |
| Mid cap ($2-10bn) | 67.9% |
| Small cap (<$2bn) | 21.7% |
| Developed mkts. | 91.4% |
| Emerging mkts. | 0.8% |
Country Exposure
 |
UNITED STATES | 90.4 % |
 |
PANAMA | 0.8 % |
 |
IRELAND | 0.6 % |
Historical Performance
Standardized Performance (as of 02/28/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 3.5% | 13.4% | 8.1% | -- | -- | -- | -- | 9.2% |
| Dividend Yield | 0.0% | 0.0% | 0.4% | -- | -- | -- | -- | 0.4% |
| Total Returns | 3.5% | 13.4% | 8.5% | -- | -- | -- | -- | 9.7% | Ann. Volatility | 18.2% | 23.3% | 21.6% | -- | -- | -- | -- | 21.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.97 | 65% |
| MSCI EAFE | 0.97 | 47% |
| MSCI Emg Mkts | 0.77 | 36% |
Liquidity Measures
| Avg. volume (000) | 0 |
| ADV traded (mns) | $0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.38% |
Technical Indicators
| 30d moving avg. (EMA) | $32.59 |
| Relative strength (RSI) | 51 |
| MACD/Signal | 0.02/0.06 |
| Bollinger Bands (Upper/Lower) | $33.36/$31.97 |
| Short interest (% of AUM) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HAPS |
Expenses vs. HAPS |
ALTAR Score™ vs. HAPS |
|---|---|---|---|---|
| ESIX | State Street SPDR S&P SmallCap 600 ESG ETF | 19.2% | -48 bp | +3.3% |
| IJT | iShares S&P Small-Cap 600 Growth ETF | 16.9% | -42 bp | +0.7% |
| XJR | iShares ESG Screened S&P Small-Cap ETF | 16.6% | -48 bp | +2.8% |
| QVMS | Invesco S&P SmallCap 600 QVM Multi-factor ETF | 16.2% | -45 bp | +2.9% |
| IJR | iShares Core S&P Small Cap ETF | 16.0% | -54 bp | +3.0% |
| VIOG | Vanguard S&P Small-Cap 600 Growth ETF | 16.0% | -50 bp | +0.6% |
| SLYG | State Street SPDR S&P 600 Small Cap Growth ETF | 15.9% | -45 bp | +0.8% |
| CSA | VictoryShares US Small Cap Volatility Wtd ETF | 15.6% | -25 bp | +3.1% |
| IJS | iShares S&P Small-Cap 600 Value ETF | 15.0% | -42 bp | +5.2% |
| SPSM | State Street SPDR Portfolio S&P 600 Small Cap ETF | 14.9% | -57 bp | +3.1% |
Risk and Returns: HAPS vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 3/3/2026
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
HAPS
4.0%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 1193 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.0%. HAPS's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places HAPS in the 24th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HAPSSELL
U/W
HOLD
O/W
BUY