ETF Evaluator:
Munificent Seven ETF (BBLS)
Follow This ETF
(as of Sep 16)
Best Performing in Equity Energy Over the Last Year
| 77.6% | Invesco Oil & Gas Services ETF (PXJ) |
| 76.6% | VanEck Oil Refiners ETF (CRAK) |
| 75.2% | Stt Strt®SPDR®S&P®Oil &GasEqpmnt&SvcsETF (XES) |
| 73.1% | BP p.l.c. ADRhedged (BPH) |
| 69.9% | VanEck Oil Services ETF (OIH) |
Risk
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Risk
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ETF Details
Munificent Seven ETF Overview
Munificent Seven ETF (BBLS) is an actively managed Sector Equity Equity Energy exchange-traded fund (ETF). Harbor 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 investments consistent with the fund’s strategy of providing focused exposure to Munificent Seven companies. The fund is non-diversified.
About Munificent Seven ETF (BBLS)
There are 3 members of the management team with an average tenure of 0.03 years: Spenser Lerner (2026), Justin Menne (2026) and Everett Lyons (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Munificent Seven ETF has 23 securities in its portfolio. The top 10 holdings constitute 155.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Munificent Seven ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Munificent Seven ETF has 13.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 17.5% There is 13.4% 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). Munificent Seven ETF has 71.5% of the portfolio in cash.
Assets Under Management
The fund has $8 million in total assets, which is below the $1 billion average for the Equity Energy 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.
BBLS 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 Munificent Seven ETF expense ratio is below average compared to funds in the Equity Energy category. Munificent Seven ETF has an expense ratio of 0.32%, which is 40% lower than its category average, making the fund expense ratio grade a A. 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. Munificent Seven 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 31% for the Equity Energy category.
Recently, in the month of August 2026, Munificent Seven ETF returned 0.0%, which earned it a grade of NA, as the Equity Energy category had an average return of 5.8%. 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.
Munificent Seven ETF has a trailing yield of 0.00%, which is below the 2.12% 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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BBLS 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 |
|
| BBLS Return (NAV) | na | na | na | na | na | na |
| BBLS Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Equity Energy Avg | 5.8% | 6.6% | 44.6% | 14.6% | 20.0% | 6.6% |
| BBLS Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| BBLS Tax-Cost Ratio | na | na | na | na | na | na |
BBLS Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BBLS Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| BBLS 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 |
| Equity Energy Avg | 36.3% | 10.4% | 2.7% | 3.9% | 43.8% | 43.2% | -22.2% | 6.8% | -24.5% | -4.1% | 26.3% |
| BBLS 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: | $ 8 Mil |
| Share Class Assets: | $ 8 Mil |
| Turnover: | na |
| Expense Ratio: | 0.32% |
| 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: 3 | |||
| Longest Tenure: 0.0 years | |||
| Average Tenure: 0.0 years | |||
| Managers (Year): Lerner Spenser (2026), Menne Justin (2026), Lyons Everett (2026) | |||
Portfolio Composition (as of 8/29/26)
| # of Holdings: | 23 |
| % in Top 10 Holdings: | 155.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 13.4% |
Portfolio Allocation |
|
| Domestic Stock: | 17.5% |
| Foreign Stock: | 13.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -2.4% |
| Cash: | 71.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Harbor |
| Phone Number: | 800-422-1050 |
| Website: | |
| Inception Date: | August 19, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.32% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.54% |
