HAPY
Harbor Human Capital Factor Unconstrained 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.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
13.9 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | ORIX Corp. |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 23, 2022 |
| Assets (mns) | $14 |
| Expense ratio | 50 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
| EVERCORE PARTNERS INC-CL A | 1.6 % |
| GUIDEWIRE SOFTWARE INC | 1.6 % |
| SOUTH STATE CORP | 1.6 % |
| NVIDIA CORP | 1.6 % |
| SMARTSHEET, INC. CLASS A | 1.5 % |
| NATIONAL STORAGE AFFILIATES TRUST | 1.5 % |
| APPLE INC | 1.5 % |
| PINNACLE FINANCIAL PARTNERS | 1.5 % |
| SERVICENOW INC | 1.5 % |
| ADOBE SYSTEMS INC | 1.5 % |
Constituent Breakdown
| Number of holdings | 75 |
| Herfindahl-Hirschman Index | 135 |
| Wgt avg mkt cap (mns) | $188,445 |
| Large cap (>$10bn) | 81.6% |
| Mid cap ($2-10bn) | 18.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 93.3 % |
 |
IRELAND | 1.4 % |
 |
BERMUDA | 1.3 % |
 |
SWITZERLAND | 1.3 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.5% | 27.1% | 21.6% | -- | -- | -- | 7.7% | Volatility | 13.9% | 14.7% | 19.2% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.12 | 86% |
| MSCI EAFE | 0.96 | 64% |
| MSCI Emg Mkts | 0.79 | 45% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.34% |
| ADV of underlying (mns) | $70,205 |
Technical Indicators
| Recent close | $24.16 |
| 30d moving avg. | $25.08 |
| Annualized volatility | 21.2% |
| Relative strength (RSI) | 54 |
| 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. HAPY |
Expenses vs. HAPY |
ALTAR Score™ vs. HAPY |
|---|---|---|---|---|
| HAPI | Harbor Human Capital Factor US Large Cap ETF | 20.0% | -14 bp | 0.0% |
| CHGX | AXS Change Finance ESG ETF | 19.4% | -1 bp | +0.8% |
| RSPT | Invesco S&P 500 Equal Weight Technology ETF | 18.5% | -10 bp | +0.0% |
| TECB | iShares U.S. Tech Breakthrough Multisector ETF | 18.2% | -10 bp | -0.8% |
| KRMA | Global X Conscious Companies ETF | 18.1% | -7 bp | +1.1% |
| FLRG | Fidelity U.S. Multifactor ETF | 18.0% | -35 bp | +2.9% |
| JQUA | JPMorgan U.S. Quality Factor ETF | 17.3% | -38 bp | +1.2% |
| JEPI | JPMorgan Equity Premium Income ETF | 17.2% | -15 bp | +0.6% |
| VEGN | US Vegan Climate ETF | 16.7% | +10 bp | -0.2% |
| SEIQ | SEI Enhanced U.S. Large Cap Quality Factor ETF | 16.5% | -35 bp | +2.9% |
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
| 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 12/24/2024
Peer Group Comparison Sample data. Subscribe for access.
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 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™
HAPY
4.6%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 976 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. HAPY's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places HAPY in the 36th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HAPYSELL
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 |
| HAPY (50 bp) Percentile rank | 55 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HAPY | 50.0 | 33.7 | 83.7 |
| Peer Avg. | 37.3 | 15.0 | 52.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .