Harbor Emerging Markets Equity Investor
Name
As of 12/09/2022Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-19.9%
1 yr return
-44.2%
3 Yr Avg Return
-19.2%
5 Yr Avg Return
-10.8%
Net Assets
$19.3 M
Holdings in Top 10
37.8%
52 WEEK LOW AND HIGH
$6.0
$5.10
$7.75
Expenses
OPERATING FEES
Expense Ratio 1.32%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 103.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/09/2022Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
HIEEX - Profile
Distributions
- YTD Total Return -19.9%
- 3 Yr Annualized Total Return -19.2%
- 5 Yr Annualized Total Return -10.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.85%
- Dividend Yield 0.7%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameHarbor Emerging Markets Equity Fund
-
Fund Family NameHarbor
-
Inception DateNov 01, 2013
-
Shares OutstandingN/A
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerAlex Duffy
Fund Description
Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities, including common and preferred stocks, of emerging market companies. The Fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.The Fund considers emerging market companies to be those that are located in, or economically tied to, emerging market countries or that maintain securities that principally trade on exchanges located in emerging market countries. Emerging market countries primarily include those countries that comprise the MSCI Emerging Markets (ND) Index but in limited circumstances may also include other countries with similar characteristics to those included in such Index. As of December 31, 2021, the MSCI Emerging Markets (ND) Index includes the following 25 emerging market countries: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. Emerging market countries may also include frontier market countries, which are emerging market countries that are early in their development. Frontier market countries primarily include those countries that comprise the MSCI Frontier Markets Index but in limited circumstances may also include other countries with similar characteristics to those included in such Index. As of December 31, 2021, the MSCI Frontier Markets Index includes the following 28 frontier market countries: Bahrain, Bangladesh, Burkina Faso, Benin, Croatia, Estonia, Guinea-Bissau, Iceland, Ivory Coast, Jordan, Kenya, Lebanon, Lithuania, Kazakhstan, Mauritius, Mali, Morocco, Niger, Nigeria, Oman, Romania, Serbia, Senegal, Slovenia, Sri Lanka, Togo, Tunisia and Vietnam.The Subadviser’s investment strategy focuses on identifying attractive long-term investment opportunities that can arise as a result of certain capital cycle, or supply-side, conditions. Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition and the prospect of low returns will excessively depress new capital investments and discourage competition. The assessments of how management responds to the forces of the capital cycle through its capital allocation strategy and how it is incentivized are both critical to the investment outcome. While capital cycles are often observed at an industry level, particularly where the investment merits of an individual business are influenced by the rationality of actors within a given competitive ecosystem, they are first identified through bottom-up analysis at the company level. The Subadviser broadly characterizes investments within two opposite points of the capital cycle:■High Return Phase: Investments in the top half of the capital cycle, where high rates of return within a business and/or industry are being attained, are often characterized as having intrinsic pricing power that allow them to fend off competition and excess capital that would otherwise be drawn to the prospects of high returns. These types of investments can also be characterized as having a consolidated industry market structure with high barriers to entry.■Depressed Return Phase: Investments in the bottom half of the capital cycle, where rates of return have fallen to or below the cost of capital and where capital is being repelled as a result, are often characterized as contrarian, deep value investments where an improvement in the economic returns of a business are not accurately discounted by the broad market. A consolidating market structure, where supply and competition are removed, or a radical shift in management strategy, are often conditions leading to these types of investments.The Subadviser uses fundamental, bottom-up qualitative analysis to evaluate businesses and the industry within which they operate. Research meetings with company management represent a significant aspect of the analysis conducted by the Subadviser. Companies that the Subadviser finds attractive include those that:■Deploy capital effectively and efficiently■Have high insider ownership and/or where company management are appropriately incentivized to focus on long-term results■Operate in a monopolistic, oligopolistic or consolidating industry■Show improving or high and sustainable returns on invested capital■Generate attractive or improving free cash-flowGiven the contrarian and long-term nature of the capital cycle, the Subadviser’s investment strategy tends to result in a portfolio of investments that can differ significantly from the Fund’s benchmark index, including with respect to country, regional and sector exposures, with average holding periods of six years or more for individual company investments. As part of its investment process with respect to each portfolio investment, the Subadviser considers environmental, social and governance (“ESG”) factors that it believes may have a material impact on an issuer and the value of its securities. As a result, the key ESG considerations may vary depending on the industry, sector, geographic region or other factors and the core business of each issuer.The Subadviser may sell or trim a holding when it has reached its estimated target price, as determined by the Subadviser, or the Subadviser believes that there is a material shift in the capital cycle, deterioration in anticipated return on investment capital or in management’s attitude toward shareholders, or if further information or analysis results in a re-evaluation of the investment opportunity presented.
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HIEEX - Performance
Return Ranking - Trailing
| Period | HIEEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -19.9% | -49.0% | 3.3% | 31.63% |
| 1 Yr | -44.2% | -50.4% | 7.5% | 99.37% |
| 3 Yr | -19.2%* | -19.2% | 64.6% | 100.00% |
| 5 Yr | -10.8%* | -13.2% | 34.6% | 98.62% |
| 10 Yr | N/A* | -12.6% | 11.7% | N/A |
* Annualized
Return Ranking - Calendar
| Period | HIEEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -28.5% | -38.3% | 24.4% | 98.17% |
| 2022 | -5.1% | -26.9% | 140.8% | 99.59% |
| 2021 | 7.3% | 0.2% | 34.6% | 19.06% |
| 2020 | -3.4% | -20.7% | 9.4% | 6.62% |
| 2019 | 5.7% | -11.5% | 41.1% | 65.83% |
Total Return Ranking - Trailing
| Period | HIEEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -19.9% | -50.8% | 3.3% | 31.01% |
| 1 Yr | -44.2% | -50.4% | 30.2% | 99.38% |
| 3 Yr | -19.2%* | -19.2% | 64.6% | 100.00% |
| 5 Yr | -10.5%* | -13.2% | 34.6% | 98.48% |
| 10 Yr | N/A* | -12.6% | 11.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | HIEEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -28.5% | -38.2% | 24.4% | 98.17% |
| 2022 | -5.1% | -14.7% | 140.8% | 99.59% |
| 2021 | 7.3% | 0.2% | 36.2% | 19.06% |
| 2020 | -3.2% | -20.6% | 10.3% | 6.31% |
| 2019 | 5.8% | -9.7% | 41.1% | 67.50% |
NAV & Total Return History
HIEEX - Holdings
Concentration Analysis
| HIEEX | Category Low | Category High | HIEEX % Rank | |
|---|---|---|---|---|
| Net Assets | 19.3 M | 717 K | 102 B | 88.05% |
| Number of Holdings | 54 | 7 | 6734 | 87.06% |
| Net Assets in Top 10 | 7.48 M | 3.7 K | 19.3 B | 86.24% |
| Weighting of Top 10 | 37.81% | 2.8% | 71.7% | 37.56% |
Top 10 Holdings
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
- Samsung Electronics Co Ltd 9.43%
Asset Allocation
| Weighting | Return Low | Return High | HIEEX % Rank | |
|---|---|---|---|---|
| Stocks | 99.90% | 0.90% | 110.97% | 9.75% |
| Cash | 0.10% | -23.67% | 20.19% | 86.94% |
| Preferred Stocks | 0.00% | 0.00% | 2.67% | 65.18% |
| Other | 0.00% | -1.48% | 9.95% | 60.94% |
| Convertible Bonds | 0.00% | 0.00% | 7.40% | 57.53% |
| Bonds | 0.00% | -0.03% | 55.68% | 62.63% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | HIEEX % Rank | |
|---|---|---|---|---|
| Technology | 27.19% | 0.00% | 47.50% | 20.33% |
| Financial Services | 26.25% | 0.00% | 48.86% | 15.48% |
| Consumer Cyclical | 12.42% | 0.00% | 48.94% | 47.16% |
| Industrials | 10.45% | 0.00% | 43.53% | 15.01% |
| Basic Materials | 9.16% | 0.00% | 30.03% | 37.71% |
| Consumer Defense | 8.42% | 0.00% | 28.13% | 25.41% |
| Communication Services | 4.23% | 0.00% | 46.62% | 87.59% |
| Healthcare | 1.87% | 0.00% | 93.26% | 81.91% |
| Utilities | 0.00% | 0.00% | 39.12% | 85.46% |
| Real Estate | 0.00% | 0.00% | 17.15% | 93.85% |
| Energy | 0.00% | 0.00% | 26.66% | 93.14% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | HIEEX % Rank | |
|---|---|---|---|---|
| Non US | 96.49% | -4.71% | 112.57% | 45.29% |
| US | 3.41% | -1.60% | 104.72% | 16.35% |
HIEEX - Expenses
Operational Fees
| HIEEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.32% | 0.01% | 2.69% | 32.46% |
| Management Fee | 0.85% | 0.00% | 2.00% | 45.44% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 38.87% |
| Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
| HIEEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| HIEEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.40% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| HIEEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 103.00% | 0.00% | 190.00% | 87.20% |
HIEEX - Distributions
Dividend Yield Analysis
| HIEEX | Category Low | Category High | HIEEX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.75% | 0.00% | 23.53% | 82.22% |
Dividend Distribution Analysis
| HIEEX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| HIEEX | Category Low | Category High | HIEEX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.85% | -1.98% | 17.62% | 45.77% |
Capital Gain Distribution Analysis
| HIEEX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2019 | $0.116 | OrdinaryDividend |
| Dec 17, 2018 | $0.045 | OrdinaryDividend |
| Dec 18, 2017 | $0.068 | OrdinaryDividend |
| Dec 19, 2016 | $0.069 | OrdinaryDividend |
| Dec 17, 2015 | $0.044 | OrdinaryDividend |
| Dec 18, 2014 | $0.015 | OrdinaryDividend |
HIEEX - Fund Manager Analysis
Managers
Alex Duffy
Start Date
Tenure
Tenure Rank
Jun 21, 2021
0.94
0.9%
Alex joined Marathon in 2021 as an Emerging Markets equity Portfolio Manager. He is responsible for Global Emerging Markets investments within Global and International strategies as well as in standalone Emerging Markets funds and accounts. He is a member of Marathon’s Partners Group. Alex joined Marathon from Fidelity International, where he began his career in 2004 as an equity analyst before being appointed a Portfolio Manager in 2008, initially for Latin American equities and, from 2013 for Global Emerging Markets. Alex holds an M.A. from the University of Nottingham.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.71 | 6.43 | 13.42 |