Skip to content
etf.net

Launched

Harbor Human Capital Factor US Small Cap ETF

HAPSNYSE ArcaHarborD

$37.740.00 (0.00%)

As of Nov 2, 2026, 10:00 AM ET

D37/ 100

Rank 22 of 30 in US Factor Index

D37/100Rank 22 of 30inUS Factor Index
Intraday session: up, 1 prints from 37.74 to 37.74. Range 37.74 to 37.74. Use the arrow keys to read each point.37.7437.7410 AM12 PM2 PM4 PM
Expense ratio
0.61%
Fund size
$173M
1Y total return
+22.9%
Yield · Last 12 months
0.47%
Holdings
188
Avg volume · 30D
157 sh
52W range
low $29.42high $38.86
Launched

The ETF.net HAPS Grade

D

Score 37 out of 100

Category
US Factor Index⁠
Rank
22 of 30
Six-pillar profile for HAPS. Scores out of 100: Cost 5, Risk 40, Mission 76, Tradability 8, Holdings 81, Durability 30. Strongest: Holdings (81). Weakest: Cost (5). Leans toward Holdings and Mission.

Score 37 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F5 out of 100
    Rank 28 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A76 out of 100
    Rank 12 of 23

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C40 out of 100
    Rank 19 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F8 out of 100
    Rank 30 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A81 out of 100
    Rank 3 of 30

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D30 out of 100
    Rank 26 of 30

Our read on HAPS

ETF.net Research

In short

DA small-cap index fund that screens on corporate culture. Irrational Capital scores companies on how they treat their workforce, and Harbor holds the roughly 200 US small caps that rank highest. A people signal, not a balance-sheet one.

Stated mandate

The fund seeks pre-fee and pre-expense returns that correspond to the Human Capital Factor Small Cap Index. It uses an indexing approach and invests at least 80% of assets in index securities.

Why people hold it

  • The screen is genuinely unusual: a proprietary corporate-culture score from Irrational Capital, not the standard value, quality or momentum recipe most small-cap factor funds run.sec.gov
  • Plain index mechanics under the hood: at least 80% of assets in index names, roughly 200 small caps, and a portfolio that has stayed closely aligned with its stated mandate.
  • Not a one-off experiment. Harbor applies the same Human Capital Factor scoring in its large-cap funds, so this is the small-cap extension of a methodology already running live.businesswire.com

Worth knowing

  • At 0.61% it costs more than double the small-cap cohort median of 0.25%, and the plain-vanilla leaders (VB and SCHA at 0.03%) charge a fraction of it.sec.gov
  • Thinly traded next to category giants like IWM, so spreads can run wider and larger orders need more care.
  • The index rules are proprietary, so you cannot fully reverse-engineer why a stock is in or out, and the fund has only traded since 2023.

HAPS Holdings

Holdings pillarA81 out of 100Rank 3 of 30 in US Factor Index
Asset class
Stocks
Holdings
188
Top-10 weight
20%
Largest holding
TWST3.0%

Sectors

  • Financials21.5%
  • Technology17.6%
  • Health Care17.5%
  • Industrials11.7%
  • Consumer Discretionary7.4%
  • Energy6.4%
  • Real Estate5.8%
  • Materials4.9%
  • Consumer Staples2.8%
  • Utilities2.5%
  • Communication2.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 13.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1TWSTTwist Bioscience Corp2.96%29,998$5.2M127
2PSCHInvesco S&P Smallcap Health2.17%67,452$3.81M1
3KYMRKymera Therapeutics Inc2.14%30,713$3.77M114
4MGYMagnolia Oil & Gas Corp - A2.04%136,538$3.58M165
5OGNOrganon & Co1.96%249,021$3.44M129
6PECOPhillips Edison & Company In1.95%88,708$3.43M133
7APLEApple Hospitality Reit Inc1.93%180,355$3.4M128
8AVTAvnet Inc1.87%35,463$3.28M187
9SXTSensient Technologies Corp1.74%23,230$3.06M136
10ATRCAtricure Inc1.43%40,325$2.52M103
11FROGJfrog Ltd1.31%23,358$2.31M121
12GATXGatx Corp1.29%12,546$2.26M142
13TARSTarsus Pharmaceuticals Inc1.25%29,636$2.2M74
14AROCArchrock Inc1.20%65,893$2.12M152
15TNLTravel & Leisure Co1.18%28,952$2.07M143

Showing 1–15 of 188 holdings

HAPS Performance

Launched Apr 12, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
HAPS$12,286
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. HAPS $12,286. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HAPS. Periods over one year show the average yearly return.
PeriodHAPS
Year to date+20.2%
1 month+3.3%
3 months+1.2%
1 year+22.9%
3 yearsper year+19.3%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HAPS
YearReturn barHAPS
2026 YTD+20.2%
2025+8.3%
2024+4.1%
2023+13.3%

History from Apr 14, 2023

HAPS in the news

HAPS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.47%Last 12 months
Payout per share
$0.18Last 12 months
Last payment
$0.18 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 21, 2023 $0.12; Dec 20, 2024 $0.21; Dec 19, 2025 $0.18. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 19, 2025Dec 24, 2025$0.18
Dec 20, 2024Dec 26, 2024$0.21
Dec 21, 2023Dec 27, 2023$0.12

$10,000 in HAPS 3 years ago paid $211 in dividends.

HAPS Risk

Risk pillarC40 out of 100Rank 19 of 30 in US Factor Index
How much the fund’s monthly returns vary, scaled to a year.
18.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.80
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−27.4%
42 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.16
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

HAPS Cost

Compare HAPS and MGV

Overpaying vs MGV, cheapest in US Factor Index

$10,938

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HAPS 0.61%

    $11,998

  • MGV 0.05% Cheapest

    $1,060

$10,000
30 years

Cost over time

  • HAPS 0.61%
  • MGV 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530HAPS $11,998MGV $1,060

Year by year

YearHAPSMGVOverpaying
10$1,093$92$1,001
20$4,181$360$3,821
30$11,998$1,060$10,938

Other funds in US Factor Index

See others