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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.
According to Harbor Capital Advisors, human capital is difficult to measure yet essential to a company's success and profitability. Harbor has a suite of human capital ETFs that are based on proprietary data, offering investors exposure to the nontraditional human capital factor for the first time.
With only four trading days during the week, ETF launches were few and far between. Only four new funds launched this week.
This week saw a total of 17 ETF launches, a major rebound from last week when only six funds debuted and a reversal of the summer trend of fewer launches. ETF closures continued their march forward, with several completing during the week and another handful announced.
On this episode of ETF Prime, host Nate Geraci had just returned from the Inside ETFs Conference and had some thoughts. So, he bounced some of his takeaways from the conference off of VettaFi's head of research Todd Rosenbluth.
The Harbor Corporate Culture Small Cap ETF (HAPS) has garnered investor attention following its recent launch. HAPS has accreted $109 million in assets under management since its listing on the NYSE Arca on April 13, 2023.
Harbor has launched a small-cap ETF, expanding its human capital investing suite. The Harbor Corporate Culture Small Cap ETF (HAPS), listed on the NYSE Arca on April 13, offers exposure to small-cap companies with strong Human Capital Factor scores while constraining sectors to enhance overall diversification benefits.
SEC filings for HAPS aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.