Harbor Human Capital Factor US Small Cap ETF

HAPS

Valor de mercado US$ 165 mi

Improving economic conditions, attractive relative valuations, and expanding participation in Artificial Intelligence-related capital spending supported the asset class. The Russell 2000® Growth Index advanced 25.71% compared with a 17.19% gain for the Russell 2000® Value Index. During the second quarter, the Harbor Human Capital Factor US Small Cap ETF returned 20.45%.

Harbor Human Capital Factor US Small Cap ETF Q4 2025 Commentary

The Harbor Human Capital Factor US Small Cap ETF employs an indexing investment approach designed to track the performance of the CIBC Human Capital Factor Small Cap Index. During the quarter, the Harbor Human Capital Factor US Small Cap ETF returned 6.16% (NAV), underperforming the Human Capital Factor Small Cap Index, which returned 6.29%, and underperforming the Russell 2000® Index, which returned 8.50%. During the recent quarterly rebalancing, exposure to Beacon Roofing Supply, Brinker International, and Doximity was eliminated. There were no new positions added during the quarter.

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