ETF Evaluator:
OpenAI Lab Ecosystem ETF (OAIW)
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(as of Sep 17)
Best Performing in Technology Over the Last Year
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ETF Details
OpenAI Lab Ecosystem ETF Overview
OpenAI Lab Ecosystem ETF (OAIW) is an actively managed Sector Equity Technology exchange-traded fund (ETF). Harbor launched the ETF in 2026.
The investment seeks to provide exposure to the portfolio-eligible companies most directly linked to the OpenAI artificial intelligence ecosystem.
Under normal circumstances, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of OpenAI Ecosystem Companies. The fund is non-diversified.
About OpenAI Lab Ecosystem ETF (OAIW)
There are 3 members of the management team with an average tenure of 0.05 years: Spenser Lerner (2026), Justin Menne (2026) and Jonathan Poynter (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
OpenAI Lab Ecosystem ETF has 26 securities in its portfolio. The top 10 holdings constitute 63.8% 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.
OpenAI Lab Ecosystem ETF is part of the Equity global asset class and is within the Sector Equity ETF group. OpenAI Lab Ecosystem ETF has 27.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 71.5% There is 27.9% 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). OpenAI Lab Ecosystem ETF has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $3 billion average for the Technology 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.
OAIW 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 OpenAI Lab Ecosystem ETF expense ratio is average compared to funds in the Technology category. OpenAI Lab Ecosystem ETF has an expense ratio of 0.59%, which is 7% higher 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. OpenAI Lab Ecosystem 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 40% for the Technology category.
Recently, in the month of August 2026, OpenAI Lab Ecosystem ETF returned 0.0%, which earned it a grade of NA, as the Technology category had an average return of 5.6%. 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.
OpenAI Lab Ecosystem ETF has a trailing yield of 0.00%, which is below the 0.44% category average.
The fund normally distributes its income monthly and its capital gains monthly.
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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OAIW 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 |
|
| OAIW Return (NAV) | na | na | na | na | na | na |
| OAIW Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Technology Avg | 5.6% | -3.8% | 38.1% | 26.6% | 11.4% | 19.4% |
| OAIW Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| OAIW Tax-Cost Ratio | na | na | na | na | na | na |
OAIW Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OAIW Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| OAIW 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 |
| Technology Avg | 28.2% | 23.1% | 20.0% | 43.5% | -35.4% | 17.3% | 51.6% | 37.9% | -3.3% | 32.3% | 15.5% |
| OAIW 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: | $ 4 Mil |
| Share Class Assets: | $ 4 Mil |
| Turnover: | na |
| Expense Ratio: | 0.59% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Monthly |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.1 years | |||
| Average Tenure: 0.1 years | |||
| Managers (Year): Lerner Spenser (2026), Menne Justin (2026), Poynter Jonathan (2026) | |||
Portfolio Composition (as of 8/29/26)
| # of Holdings: | 26 |
| % in Top 10 Holdings: | 63.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 27.9% |
Portfolio Allocation |
|
| Domestic Stock: | 71.5% |
| Foreign Stock: | 27.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Harbor |
| Phone Number: | 800-422-1050 |
| Website: | |
| Inception Date: | August 12, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.59% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.55% |
