ETF Evaluator:
Harbor AlphaEdge Small Cap Value ETF (AESL)
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(as of Sep 15)
Best Performing in Small Value Over the Last Year
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ETF Details
Harbor AlphaEdge Small Cap Value ETF Overview
Harbor AlphaEdge Small Cap Value ETF (AESL) is an actively managed U.S. Equity Small Value exchange-traded fund (ETF). Harbor Capital Advisors Inc launched the ETF in 2026.
The investment seeks long-term growth of capital.
Under normal circumstances, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of small cap value companies.
About Harbor AlphaEdge Small Cap Value ETF (AESL)
There are 2 members of the management team with an average tenure of 0.01 years: Spenser Lerner (2026) and Justin Menne (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Harbor AlphaEdge Small Cap Value ETF has 103 securities in its portfolio. The top 10 holdings constitute 28.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Harbor AlphaEdge Small Cap Value ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Harbor AlphaEdge Small Cap Value ETF has 7.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.9% There is 7.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Harbor AlphaEdge Small Cap Value ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $1 million in total assets, which is below the $2 billion average for the Small Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AESL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Harbor AlphaEdge Small Cap Value ETF expense ratio is average compared to funds in the Small Value category. Harbor AlphaEdge Small Cap Value ETF has an expense ratio of 0.40%, which is 16% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Harbor AlphaEdge Small Cap Value ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 61% for the Small Value category.
Recently, in the month of August 2026, Harbor AlphaEdge Small Cap Value ETF returned 0.0%, which earned it a grade of NA, as the Small Value category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Harbor AlphaEdge Small Cap Value ETF has a trailing yield of 0.00%, which is below the 1.71% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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AESL Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AESL Return (NAV) | na | na | na | na | na | na |
| AESL Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Small Value Avg | 0.5% | 6.4% | 22.5% | 14.7% | 8.2% | 10.1% |
| AESL Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| AESL Tax-Cost Ratio | na | na | na | na | na | na |
AESL Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AESL Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| AESL Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Small Value Avg | 20.4% | 7.0% | 7.8% | 17.1% | -10.9% | 33.0% | 4.1% | 21.2% | -12.2% | 9.8% | 29.4% |
| AESL Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 2 Mil |
| Share Class Assets: | $ 2 Mil |
| Turnover: | na |
| Expense Ratio: | 0.40% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.0 years | |||
| Average Tenure: 0.0 years | |||
| Managers (Year): Lerner Spenser (2026), Menne Justin (2026) | |||
Portfolio Composition (as of 8/29/26)
| # of Holdings: | 103 |
| % in Top 10 Holdings: | 28.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.1% |
Portfolio Allocation |
|
| Domestic Stock: | 92.9% |
| Foreign Stock: | 7.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Harbor Capital Advisors Inc |
| Phone Number: | 800-422-1050 |
| Website: | |
| Inception Date: | August 26, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.48% |
