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Harbor Health Care ETF (MEDI)

Built on a rich history of Health Care Investing

Harbor Health Care ETF (MEDI)

Built on a rich history of Health Care Investing

Welcome
Overview
Performance
Holdings
Investment Team
Documents
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Why Invest in MEDI?

Health care costs have increased over time, while forecasts signal continued upward trend looking ahead. A broader shift towards value-based approaches within health care is likely needed, with emphasis on lower costs of care and improved patient outcomes. This may enable opportunities for health care companies best positioned to facilitate transition towards value over quantity.

In addition, health care is home to other disruptive themes such as targeted oncology, liquid biopsy, gene therapy, orphan diseases, and others that may represent compelling long-term growth opportunities.

The investment team behind MEDI seeks to construct a portfolio capable of benefiting from the secular growth and innovation of the U.S. health care system, while achieving alpha relative to the broader Health Care sector by investing in quality businesses with differentiated products, technologies, and services which meet the team's disciplined valuation criteria.

Matthew R. Renna
Partner, Portfolio Manager, Westfield Capital Management Company L.P.

"Health care is a sector that we are very passionate about, and one in which we have a strong history."

Read the Q&A for a timely look at the Health Care sector.



Resources

Access in-depth fund information and insights to help you capitalize on potential opportunities related to health care investing.


Overview

Investment Team
Westfield Capital Management

Current Price

As of 10/29/2024

$26.86

Price (NAV)

-$0.17

NAV Daily Change ($)

-0.63%

NAV Daily Change (%)

8.35%

NAV YTD Return

Fund Facts

As of 10/29/2024

11/16/2022

Inception Date

0.80

Expense Ratio (%)
disclaimer

$17.57

Total Net Assets (million)

650,000

Shares Outstanding
(As of 10/29/2024)

MEDI

Ticker

41151J869

Cusip

NYSE

Exchange

US41151J896

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Health

Morningstar Category

Russell 3000® Growth Health Care Index

Benchmark

3,905,811

Implied Liquidity™ (Shares)
disclaimer

$105,575,075.12

Implied Liquidity
disclaimer

Investment Objective:

The Fund seeks long-term growth of capital.

Pricing/Trading

As of 10/28/2024

$27.06

Bid/Ask Mid Price

$27.05

Closing Market Price

$0.03

Premium/Discount ($)

0.11%

Premium/Discount (%)

 

2023

Q1 2024

Q2 2024

Q3 2024

Q4 2024

YTD

Days Traded at a Premium21341566320180
Days Traded at a Discount371971027

0.26%

30-Day Median Bid/Ask Spread

285

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Total Returns

Quarter-End

3 Mo.

YTD Return

1 Yr.

Since Fund Inception

Net Expense Ratio

Gross Expense Ratio

Health Care ETF - at NAV
9.60%
12.83%
29.03%
21.26%
0.80%disclaimer
0.80%
Market Price
9.76%
12.90%
29.29%
21.75%
--
--
Russell 3000 Growth Health Care Index
2.04%
15.63%
26.36%
15.77%
--
--

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

The Russell 3000® Growth Health Care Index is an unmanaged index generally representative of companies involved in medical services or health care in the Russell 3000 Index, which is comprised of the 3,000 largest U.S. companies as determined by total market capitalization. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Chart

Ex-Date

Record Date

Payable Date

Ordinary Income

Short Term Capital Gains

Long Term Capital Gains

Total Distribution

12/21/2023
12/22/2023
12/27/2023
0.16429
0.29701
--
0.46130
12/21/2022
12/22/2022
12/27/2022
--
--
--
0.00000

Holdings

Portfolio Characteristics

As of 9/30/2024

37

Number of Holdings

91307.1

Wtd Avg Market Cap ($Mil)

6.36

Price/Book Ratio

38.7

Adjusted Trailing P/E Ratio

-0.5

% EPS Growth - Past 3 Yr

6.9

Return on Equity (%)

21.1

Forecasted P/E Ratio

Top Ten Holdings

As of 10/28/2024

Company Name [Ticker]

% of Net Assets

ASCENDIS PHARMA A/S - ADR[ASND]
15.9
LEGEND BIOTECH CORP-ADR[LEGN]
7.6
ABBVIE INC[ABBV]
7.3
MASIMO CORP[MASI]
5.2
UNITEDHEALTH GROUP INC[UNH]
4.7
PFIZER INC[PFE]
4.5
OPTION CARE HEALTH INC[OPCH]
4.3
LANTHEUS HOLDINGS INC[LNTH]
4.2
VAXCYTE INC[PCVX]
3.4
DEXCOM INC[DXCM]
3.1
% of Total Holdings:
60.2%

This information should not be considered as a recommendation to purchase or sell a particular security. The weightings, holdings, industry, sector and/or countries mentioned may change at any time and may not represent current or future investments.

As of 10/28/2024

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

ASCENDIS PHARMA A/S - ADR [ASND]
EQUITY
04351P101
21,564
129.44
2,791,244.16
15.9
LEGEND BIOTECH CORP-ADR [LEGN]
EQUITY
52490G102
29,624
45.30
1,341,967.20
7.6
ABBVIE INC [ABBV]
EQUITY
00287Y109
6,807
189.68
1,291,151.76
7.3
MASIMO CORP [MASI]
EQUITY
574795100
6,528
140.71
918,554.88
5.2
UNITEDHEALTH GROUP INC [UNH]
EQUITY
91324P102
1,450
565.24
819,598.00
4.7
PFIZER INC [PFE]
EQUITY
717081103
27,181
28.86
784,443.66
4.5
OPTION CARE HEALTH INC [OPCH]
EQUITY
68404L201
24,798
30.15
747,659.70
4.3
LANTHEUS HOLDINGS INC [LNTH]
EQUITY
516544103
6,674
110.10
734,807.40
4.2
VAXCYTE INC [PCVX]
EQUITY
92243G108
5,322
112.80
600,321.60
3.4
DEXCOM INC [DXCM]
EQUITY
252131107
7,623
72.10
549,618.30
3.1
INSULET CORP [PODD]
EQUITY
45784P101
2,281
233.37
532,316.97
3.0
BICYCLE THERAPEUTICS PLC-ADR [BCYC]
EQUITY
088786108
18,739
24.79
464,539.81
2.6
ICON PLC [ICLR]
EQUITY
G4705A100
1,956
230.50
450,858.00
2.6
CVS HEALTH CORP [CVS]
EQUITY
126650100
7,281
57.36
417,638.16
2.4
INNOVIVA INC [INVA]
EQUITY
45781M101
18,255
19.93
363,822.15
2.1
ELI LILLY & CO [LLY]
EQUITY
532457108
361
895.59
323,307.99
1.8
HAEMONETICS CORP/MASS [HAE]
EQUITY
405024100
4,155
75.73
314,658.15
1.8
ROCKET PHARMACEUTICALS INC [RCKT]
EQUITY
77313F106
17,476
17.49
305,655.24
1.7
VERTEX PHARMACEUTICALS INC [VRTX]
EQUITY
92532F100
616
476.37
293,443.92
1.7
BIO-RAD LABORATORIES-A [BIO]
EQUITY
090572207
867
328.59
284,887.53
1.6
ARGENX SE - ADR [ARGX]
EQUITY
04016X101
504
554.47
279,452.88
1.6
COOPER COS INC/THE [COO]
EQUITY
216648501
2,502
105.51
263,986.02
1.5
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
2,999
85.93
257,704.07
1.5
MERCK & CO. INC. [MRK]
EQUITY
58933Y105
2,418
104.23
252,028.14
1.4
ILLUMINA INC [ILMN]
EQUITY
452327109
1,544
144.03
222,382.32
1.3
INTRA-CELLULAR THERAPIES INC [ITCI]
EQUITY
46116X101
2,892
76.82
222,163.44
1.3
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
2,318
84.76
196,473.68
1.1
GLAUKOS CORP [GKOS]
EQUITY
377322102
1,413
134.08
189,455.04
1.1
IRHYTHM TECHNOLOGIES INC [IRTC]
EQUITY
450056106
2,178
76.30
166,181.40
0.9
MOONLAKE IMMUNOTHERAPEUTICS [MLTX]
EQUITY
61559X104
3,357
48.05
161,303.85
0.9
CYTOKINETICS INC [CYTK]
EQUITY
23282W605
2,461
52.26
128,611.86
0.7
MERUS NV [MRUS]
EQUITY
N5749R100
2,408
52.82
127,190.56
0.7
OSCAR HEALTH INC - CLASS A [OSCR]
EQUITY
687793109
7,785
15.35
119,499.75
0.7
SOLENO THERAPEUTICS INC [SLNO]
EQUITY
834203309
1,872
55.31
103,540.32
0.6
PROCEPT BIOROBOTICS CORP [PRCT]
EQUITY
74276L105
1,094
91.00
99,554.00
0.6
VIKING THERAPEUTICS INC [VKTX]
EQUITY
92686J106
770
74.52
57,380.40
0.3
Total
--
--
--
--
--
17,177
97.7
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
2.3
Total Net Assets
--
--
--
--
--
--
100%

As of 9/30/2024

Health Care ETF (MEDI)

Russell 3000 Growth Health Care Index

-

Health Care

MEDI: 98.4%

Benchmark: 99.8%

-

Financials

MEDI: 0.9%

Benchmark: NaN%

-

Cash

MEDI: 0.7%

Benchmark: NaN%

-

Consumer Discretionary

MEDI: NaN%

Benchmark: 0.1%

-

Information Technology

MEDI: NaN%

Benchmark: NaN%

MEDI: Health Care ETF

Benchmark: Russell 3000 Growth Health Care Index

As of 9/30/2024

Economic Sector

Health Care ETF %

Russell 3000 Growth Health Care Index %

Financials

Economic sector icon
34.1
--

Health Care

Economic sector icon
10.4
2.2

Information Technology

Economic sector icon
0.0
-32.6

Consumer Discretionary

Economic sector icon
0.0
1.7

Investment Team


Westfield Capital Management

Westfield Capital Management Company, L.P. is dedicated to providing strong and consistent investment performance based on a disciplined, team-based approach, with exceptional client service. Westfield believes their greatest strength comes from the collective wisdom of a fully engaged and inspired team working together with clear objectives. Additionally, Westfield embraces their partnership structure, which aligns the advancement of the organization with their clients and serves to attract and retain exceptional talent.

Documents

Important Information

Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Harbor ETFs are new and have limited operating history to judge.

Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

There is no guarantee that the investment objective of the Fund will be achieved.  Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Since the Fund may hold foreign securities, it may be subject to greater risks than funds invested only in the U.S. These risks are more severe for securities of issuers in emerging market regions. Foreign currencies can decline in value and can adversely affect the dollar value of the fund. Since the Fund typically invests in a limited number of companies, an adverse event affecting a particular company may hurt the Fund's performance more than if it had invested in a larger number of companies. Health Care Industry Risk: Because the Fund seeks to invest all, or substantially all, of its assets in the health care industry, the value of its shares will depend on the general condition of the that industry. The health care industry may be affected by any number of factors, including, but not limited to, lapsing patent protection, industry innovation, extensive government regulation, restrictions on government reimbursement for medical expenses, research and development costs, limited product lines, product liability litigation, an increased emphasis on outpatient services, and competitive forces. Authorized Participant Concentration/Trading Risk: Only authorized participants ("APs") may engage in creation or redemption transactions directly with the Fund. The Fund is classified as non-diversified, a non-diversified Fund may invest a greater percentage of its assets in securities of a single issuer, and/or invest in a relatively small number of issuers, it is more susceptible to risks associated with a single economic, political or regulatory occurrence than a more diversified portfolio. New Fund Risk: There can be no assurance that the Fund will grow to or maintain an economically viable size, in which case the Board of Trustees may determine to liquidate the Fund. Small and Mid Cap Risk: The Fund's performance may be more volatile because it may invest in issuers that are smaller companies.

The views expressed herein may not be reflective of current opinions, are subject to change without prior notice, and should not be considered investment advice.

Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.

Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.

Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.

% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.

Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.

Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.

Bid/Ask Mid Price: the midpoint between the highest bid and the lowest offer, as of the time that the Fund’s NAV is calculated, typically 4 p.m. Eastern Time.

Premium/Discount ($): the difference between the Fund’s market price and NAV, expressed as a percentage of NAV. A premium is the amount that the Fund is trading above the reported NAV. A discount is the amount that the Fund is trading below the reported NAV.

30-Day Median Bid/Ask Spread: calculated by identifying national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage (rounded to the nearest hundredth).

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Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.
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Investing involves risk and the potential loss of capital.

Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. To obtain a summary prospectus or prospectus for this and other information, click here or call 800-422-1050. Read it carefully before investing.

All trademarks or product names mentioned herein are the property of their respective owners. Copyright © 2024 Harbor Capital Advisors, Inc. All rights reserved.