Harbor Human Capital Factor US Small Cap ETF

HAPS

Market cap $171M

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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