ETF Evaluator:
Harbor Multi-Asset Total Return ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in Tactical Allocation Over the Last Year
| 21.1% | First Trust Dorsey Wright Dynamic Foc 5 (FVC) |
| 21.0% | Coastal Compass 100 ETF (ROPE) |
| 20.1% | Relative Sentiment Tactical Allc ETF (MOOD) |
| 17.9% | Cambria Global Momentum ETF (GMOM) |
| 17.4% | WBI BullBear Value 3000 ETF (WBIF) |
Risk
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Risk
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ETF Details
Harbor Multi-Asset Total Return ETF Overview
Harbor Multi-Asset Total Return ETF (MATR) is an actively managed Allocation Tactical Allocation exchange-traded fund (ETF). Harbor Capital Advisors Inc launched the ETF in 2023.
The investment seeks to provide long-term total return while limiting downside risk.
To seek to achieve the fund’s investment objective, Harbor Capital Advisors Inc., the fund’s investment adviser (the “advisor”), allocates the fund’s assets among various asset classes and market sectors based on its assessment of global economic and market conditions, primarily through investments in a diversified portfolio of exchange-traded funds, including other funds managed by the advisor.
About Harbor Multi-Asset Total Return ETF (MATR)
There are 3 members of the management team with an average tenure of 3.13 years: Spenser Lerner (2023), Justin Menne (2023) and Jonathan Poynter (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. Harbor Multi-Asset Total Return ETF has 27 securities in its portfolio. The top 10 holdings constitute 69.2% 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 Multi-Asset Total Return ETF is part of the Allocation global asset class and is within the Allocation ETF group. Harbor Multi-Asset Total Return ETF has 27.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 45.6% There is 25.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 18.5% (16.2% domestic bond, 2.3% foreign bond and 0.0% convertible bond). Harbor Multi-Asset Total Return ETF has 3.2% of the portfolio in cash.
Assets Under Management
The fund has $10 million in total assets, which is below the $171 million average for the Tactical Allocation 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.
MATR 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 Multi-Asset Total Return ETF expense ratio is high compared to funds in the Tactical Allocation category. Harbor Multi-Asset Total Return ETF has an expense ratio of 0.80%, which is 15% 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 Multi-Asset Total Return ETF has a portfolio turnover rate of 155%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 290% for the Tactical Allocation category.
Recently, in the month of October 2026, Harbor Multi-Asset Total Return ETF returned -3.3%, which earned it a grade of F, as the Tactical Allocation category had an average return of -0.8%. 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.
Harbor Multi-Asset Total Return ETF has a trailing yield of 2.88%, which is above the 2.32% 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 Multi-Asset Total Return ETF Grades
Year to date, the ETF has returned 3.0%, 4.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.2% over the past year (grade of F) and 15.3% over the past three years (grade of B).
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MATR Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MATR Return (NAV) | -3.3% | -1.0% | 4.2% | 15.3% | na | na |
| MATR Return (Price) | -1.9% | 0.2% | 4.8% | 15.8% | na | na |
| NAV +/- Price Return | -1.327% | -1.259% | -0.618% | -0.458% | na | na |
| Tactical Allocation Avg | -0.8% | 0.6% | 8.6% | 14.1% | 4.9% | 7.9% |
| MATR Grade (NAV) | F | D | F | B | na | na |
| +/- Category (NAV) | -2.4% | -1.6% | -4.4% | 1.2% | na | na |
| MATR Tax-Cost Ratio | na | na | 1.0% | 1.0% | na | na |
MATR Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MATR Return (NAV) | 3.0% | 18.6% | 14.3% | na | na | na | na | na | na | na | na |
| MATR Return (Price) | 3.7% | 19.2% | 14.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.263% | 0.036% | -0.006% | na | na | na | na | na | na | na | na |
| Tactical Allocation Avg | 7.7% | 12.9% | 11.9% | 10.7% | -13.5% | 17.1% | 6.8% | 14.0% | -6.3% | 19.2% | 7.1% |
| MATR Grade (NAV) | F | B | B | na | na | na | na | na | na | na | na |
| +/- Category | -4.7% | 5.7% | 2.5% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.90 |
| R-Squared: | 82% |
| Standard Deviation: | 8.7% |
| Category Risk Index: | 0.78 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.72 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 2.9% |
| Total Assets: | $ 10 Mil |
| Share Class Assets: | $ 10 Mil |
| Turnover: | 155.0% |
| Expense Ratio: | 0.80% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| 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: 3.1 years | |||
| Average Tenure: 3.1 years | |||
| Managers (Year): Lerner Spenser (2023), Menne Justin (2023), Poynter Jonathan (2023) | |||
Portfolio Composition (as of 10/31/26)
| # of Holdings: | 27 |
| % in Top 10 Holdings: | 69.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 27.9% |
Portfolio Allocation |
|
| Domestic Stock: | 45.6% |
| Foreign Stock: | 25.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 16.2% |
| Foreign Bond: | 2.3% |
| Convertible Bond: | 0.0% |
| Other: | 7.1% |
| Cash: | 3.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Harbor Capital Advisors Inc |
| Phone Number: | 800-422-1050 |
| Website: | |
| Inception Date: | September 13, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.80% (Rating: High) |
| Category Average Expense Ratio (%): | 0.94% |
