Harbor Human Capital Factor US Large Cap ETF (HAPI)
HAPI
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- Harbor Human Capital Factor US Large Cap ETF (HAPI) is an exchange-traded fund that seeks to track the total return performance of the Human Capital Factor Large Cap Index, which measures the performance of equity securities of large capitalization US companies exhibiting strong human capital characteristics. The ETF provides investors with exposure to a rules-based, transparent portfolio constructed using a proprietary methodology developed by Harbor Capital Advisors Inc., focusing on factors such as employee satisfaction, diversity, development, dignity, and alignment; the underlying index selects and weights constituents from the Solactive US Large Cap Index based on human capital scores derived from data analytics. HAPI offers daily liquidity on the NYSE Arca exchange, low expense ratio management, and tax-efficient structure typical of ETFs, targeting institutional and retail investors interested in ESG-aligned large cap equity strategies without traditional sustainability screening exclusions. Harbor Capital Advisors Inc., founded in 1981 and headquartered in Chicago, Illinois, serves as the investment adviser, bringing expertise in factor-based and active strategies across asset classes including equities, fixed income, and alternatives. The firm operates primarily in the United States with distribution through financial intermediaries, platforms, and direct channels, and manages approximately $8 billion in assets under management as of late 2025. HAPI represents a segment of Harbor's ETF suite, which emphasizes innovative indexing approaches to capture human capital as a driver of long-term returns. In recent developments, HAPI marked its one-year listing anniversary in March 2025, demonstrating resilient performance amid market volatility with assets under management surpassing $100 million by mid-year, reflecting growing investor adoption of human capital factor investing. Harbor Capital announced enhancements to the ETF's index methodology in Q3 2025, incorporating updated data sources for improved human capital factor measurement and transparency; no major acquisitions or partnerships were reported, though the firm expanded its ETF distribution through strategic alliances with major wirehouses and robo-advisors. These updates underscore Harbor's commitment to evolving factor-based products in response to demand for workforce-focused investment themes.