ETF Evaluator:
Harbor Emerging Markets Select ETF ()
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(as of Aug 25)
Best Performing in Diversified Emerging Mkts Over the Last Year
| 114.0% | Nomura Focused Emerging Mrkts Eq ETF (EMEQ) |
| 81.0% | FT EM Human Flourishing ETF (FTHF) |
| 68.7% | First Trust Bloomberg Emr Mkt Dem ETF (EMDM) |
| 67.8% | Freedom 100 Emerging Markets ETF (FRDM) |
| 59.4% | Pacific NoS Global EM Equity Active ETF (GEME) |
Risk
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Risk
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ETF Details
Harbor Emerging Markets Select ETF Overview
Harbor Emerging Markets Select ETF (EMES) is an actively managed International Equity Diversified Emerging Mkts exchange-traded fund (ETF). Harbor Capital Advisors Inc launched the ETF in 2025.
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 securities of companies economically tied to emerging market countries, which the managers define as those countries included in the MSCI Emerging Markets Index. The fund is non-diversified.
About Harbor Emerging Markets Select ETF (EMES)
There are 4 members of the management team with an average tenure of 1.21 years: Mogens Akselsen (2025), Abhinav Rathee (2025), Aman S. Kalsi (2025) and Allan Christensen (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. Harbor Emerging Markets Select ETF has 60 securities in its portfolio. The top 10 holdings constitute 45.4% 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.
Harbor Emerging Markets Select ETF is part of the Equity global asset class and is within the International Equity ETF group. Harbor Emerging Markets Select ETF has 93.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.8% There is 93.2% 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 Emerging Markets Select ETF has 5.1% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $3 billion average for the Diversified Emerging Mkts 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.
EMES 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 Emerging Markets Select ETF expense ratio is above average compared to funds in the Diversified Emerging Mkts category. Harbor Emerging Markets Select ETF has an expense ratio of 0.65%, which is 26% higher than its category average, making the fund expense ratio grade a D. 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 Emerging Markets Select ETF has a portfolio turnover rate of 40%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 44% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, Harbor Emerging Markets Select ETF returned -2.7%, which earned it a grade of B, as the Diversified Emerging Mkts category had an average return of -3.0%. 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 Emerging Markets Select ETF has a trailing yield of 0.43%, which is below the 2.41% 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.
Harbor Emerging Markets Select ETF Grades
Year to date, the ETF has returned 23.2%, 6.1 percentage points better than the category, which translates into a grade of B. The fund has returned 37.5% over the past year (grade of B).
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EMES Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EMES Return (NAV) | -2.7% | 4.7% | 37.5% | na | na | na |
| EMES Return (Price) | -8.1% | -1.0% | 28.7% | na | na | na |
| NAV +/- Price Return | 5.396% | 5.731% | 8.847% | na | na | na |
| Diversified Emerging Mkts Avg | -3.0% | 3.0% | 31.9% | 16.6% | 7.1% | 7.8% |
| EMES Grade (NAV) | B | B | B | na | na | na |
| +/- Category (NAV) | 0.3% | 1.8% | 5.6% | na | na | na |
| EMES Tax-Cost Ratio | na | na | 0.2% | na | na | na |
EMES Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EMES Return (NAV) | 23.2% | na | na | na | na | na | na | na | na | na | na |
| EMES Return (Price) | 19.5% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.159% | na | na | na | na | na | na | na | na | na | na |
| Diversified Emerging Mkts Avg | 17.1% | 29.2% | 6.7% | 12.8% | -18.8% | 2.3% | 12.7% | 18.2% | -14.6% | 33.7% | 10.9% |
| EMES Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 6.1% | 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: | 0.4% |
| Total Assets: | $ 12 Mil |
| Share Class Assets: | $ 12 Mil |
| Turnover: | 40.0% |
| Expense Ratio: | 0.65% |
| Index Fund: | No |
| Index Tracked: | MSCI EM NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 1.2 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Akselsen Mogens (2025), Rathee Abhinav (2025), Kalsi Aman S. (2025), Christensen Allan (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 60 |
| % in Top 10 Holdings: | 45.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 93.2% |
Portfolio Allocation |
|
| Domestic Stock: | 1.8% |
| Foreign Stock: | 93.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Harbor Capital Advisors Inc |
| Phone Number: | 800-422-1050 |
| Website: | |
| Inception Date: | May 14, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.52% |
