HAPI
Harbor Human Capital Factor US Large Cap ETF
HAPI tracks an index of large-cap US companies scored highly for their strong corporate culture contributions to financial performance. The portfolio is weighted by market-cap and then adjusted to meet sector neutrality.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
367.5 M
ASSETS UNDER MGMT
36 bp
EXPENSES
Fund Basics
| Fund sponsor | ORIX |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 12, 2022 |
| Assets (mns) | $367 |
| Expense ratio | 36 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 7.1 % |
| APPLE INC | 5.5 % |
| AMAZON.COM INC | 5.0 % |
| MICROSOFT CORP | 4.8 % |
| JPMORGAN CHASE & CO | 3.8 % |
| ELI LILLY & CO | 3.5 % |
| ALPHABET INC. CLASS A | 3.3 % |
| META PLATFORMS INC | 3.0 % |
| ALPHABET INC. CLASS C | 2.9 % |
| JOHNSON & JOHNSON | 2.4 % |
Constituent Breakdown
| Number of holdings | 152 |
| Herfindahl-Hirschman Index | 238 |
| Wgt avg mkt cap (mns) | $847,582 |
| Large cap (>$10bn) | 99.5% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.2% |
| Emerging mkts. | 0.8% |
Country Exposure
 |
UNITED STATES | 97.8 % |
 |
ARGENTINA | 0.7 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 25.6% | 30.9% | -- | -- | -- | -- | 27.4% | Volatility | 13.2% | 12.8% | 14.3% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 102% |
| MSCI EAFE | 0.67 | 58% |
| MSCI Emg Mkts | 0.58 | 38% |
Liquidity Measures
| Avg. volume (000) | 4 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $132,307 |
Technical Indicators
| Recent close | $35.85 |
| 30d moving avg. | $36.49 |
| Annualized volatility | 12.8% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| 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. HAPI |
Expenses vs. HAPI |
ALTAR Score™ vs. HAPI |
|---|---|---|---|---|
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | 58.7% | -29 bp | +0.4% |
| USCL | iShares Climate Conscious & Transition MSCI USA ETF | 55.7% | -28 bp | +0.4% |
| MGC | Vanguard Mega Cap ETF | 55.7% | -29 bp | +0.2% |
| IWL | iShares Russell Top 200 ETF | 55.2% | -21 bp | +0.1% |
| MODL | VictoryShares WestEnd U.S. Sector ETF | 53.5% | +6 bp | +0.1% |
| OEF | iShares S&P 100 ETF | 53.4% | -16 bp | +0.1% |
| SPXN | ProShares S&P 500 Ex-Financials ETF | 53.1% | -27 bp | +0.4% |
| JUST | Goldman Sachs JUST U.S. Large Cap Equity ETF | 53.1% | -16 bp | +0.2% |
| QVML | Invesco S&P 500 QVM Multi-factor ETF | 52.9% | -25 bp | +0.2% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 52.8% | -29 bp | +0.3% |
Risk and Returns: HAPI 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 12/20/2024
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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
HAPI
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™
HAPI
4.7%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. HAPI's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places HAPI in the 36th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HAPISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| HAPI (36 bp) Percentile rank | 38 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HAPI | 36.0 | 19.5 | 55.5 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .