HAPY
Harbor Corporate Culture Leaders ETF
HAPY tracks an equal-weighted index of US-listed large-cap companies scoring highest in terms of a quantitative measure that ties corporate culture to financial performance.
Fund Basics
| Fund sponsor | ORIX Corp. |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 23, 2022 |
| Assets (mns) | $10 |
| Expense ratio | 36 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| AGILON HEALTH INC | 1.8 % |
| TRADE DESK, INC. CLASS A | 1.7 % |
| ROBLOX CORP. CLASS A | 1.7 % |
| NVIDIA CORP | 1.7 % |
| META PLATFORMS INC | 1.6 % |
| SAMSARA, INC. CLASS A | 1.6 % |
| SALESFORCE.COM INC | 1.6 % |
| SAREPTA THERAPEUTICS INC | 1.5 % |
| INTUITIVE SURGICAL INC | 1.5 % |
| ROKU, INC. CLASS A | 1.5 % |
Constituent Breakdown
| Number of holdings | 76 |
| Herfindahl-Hirschman Index | 131 |
| Wgt avg mkt cap (mns) | $100,453 |
| Large cap (>$10bn) | 69.4% |
| Mid cap ($2-10bn) | 26.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 91.2 % |
 |
LUXEMBOURG | 2.8 % |
 |
BRITAIN | 1.2 % |
 |
ISRAEL | 1.2 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 8.1% | -15.1% | -- | -- | -- | -- | -15.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 90% |
| MSCI EAFE | 0.96 | 77% |
| MSCI Emg Mkts | 0.66 | 40% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.29% |
| ADV of underlying (mns) | $32,609 |
Technical Indicators
| Recent close | $16.74 |
| 30d moving avg. | $17.21 |
| Annualized volatility | 25.6% |
| Relative strength (RSI) | 41 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 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. HAPY |
Expenses vs. HAPY |
ALTAR Score™ vs. HAPY |
|---|---|---|---|---|
| OGIG | O'Shares Global Internet Giants ETF | 20.4% | +12 bp | -4.0% |
| XITK | SPDR FactSet Innovative Technology ETF | 20.0% | +9 bp | -4.3% |
| ALTL | Pacer Lunt Large Cap Alternator ETF | 19.6% | +24 bp | -0.2% |
| SPHB | Invesco S&P 500 High Beta ETF | 19.6% | -11 bp | +0.2% |
| TECB | iShares US Tech Breakthrough Multisector ETF | 19.5% | +4 bp | +0.3% |
| DFNV | TrimTabs Donoghue Forlines Risk Managed Innovation ETF | 19.5% | +33 bp | +2.1% |
| XDAT | Franklin Exponential Data ETF | 19.1% | +14 bp | -0.7% |
| ENTR | Entrepreneur 30 Fund | 18.8% | +13 bp | -2.2% |
| NULG | Nuveen ESG Large-Cap Growth ETF | 18.8% | -11 bp | -0.1% |
| DYNF | BlackRock U.S. Equity Factor Rotation ETF | 18.8% | -6 bp | +1.5% |
Risk and Returns: HAPY 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 3/24/2023
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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
HAPY
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
HAPY
4.4%
Cat. Avg
6.6%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.4% |
Recommendation
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.
Category Overview
There are 888 funds in the US Equities category, with an average ALTAR Score™
of 6.6% and a standard deviation of
3.2%. HAPY's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places HAPY in the 25th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
HAPY
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HAPY | 36.0 | 29.1 | 65.1 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .