Fund Evaluator:
Harbor Mid Cap Value Instl (HAMVX)
Follow This Fund
Best Performing in Mid-Cap Value Over the Last Year
| 41.4% | Fidelity Value Strategies (FSLSX) |
| 39.3% | Fidelity Advisor Mid Cap Value Z (FIDFX) |
| 39.2% | Fidelity Mid Cap Value (FSMVX) |
| 38.8% | Harbor Mid Cap Value Instl (HAMVX) |
| 38.3% | Harbor Mid Cap Value Investor (HIMVX) |
Fund Details
Harbor Mid Cap Value Instl Overview
Harbor Mid Cap Value Instl (HAMVX) is an actively managed U.S. Equity Mid-Cap Value fund. Harbor Capital Advisors Inc launched the fund in 2002.
The investment seeks long-term total return. The fund invests primarily in equity securities, principally common stocks, of mid cap companies. Under normal market conditions, it invests at least 80% of its net assets, plus borrowings for investment purposes, in securities of mid cap companies. The Subadvisor's active investment strategy uses a quantitative investment model to evaluate and recommend investment decisions for The fund invests in a bottom-up, contrarian value approach.
About Harbor Mid Cap Value Instl (HAMVX)
There are 6 members of the management team with an average tenure of 14.73 years: Puneet Mansharamani (2006), Greg Sleight (2015), Guy Lakonishok (2015), Gal Skarishevsky (2025), Josef Lakonishok (2004), Menno Vermeulen (2004). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell Mid Cap Value TR USD index with a weighting of 100%. Harbor Mid Cap Value Instl has 195 securities in its portfolio. The top 10 holdings constitute 13.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Harbor Mid Cap Value Instl is part of the Equity global asset class and is within the U.S. Equity fund group. Harbor Mid Cap Value Instl has 4.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.5%. There is 4.0% 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 Mid Cap Value Instl has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $288 million in total assets, which is below the $642 million average for the Mid-Cap 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.
HAMVX 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 Mid Cap Value Instl expense ratio is high compared to funds in the Mid-Cap Value category. Harbor Mid Cap Value Instl has an expense ratio of 0.85%, which is 18% lower than its category average, making the fund expense ratio grade a B. 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 Mid Cap Value Instl has a portfolio turnover rate of 20%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.
Recently, in the month of July 2026, Harbor Mid Cap Value Instl returned 3.6%, which earned it a grade of A, as the Mid-Cap Value category had an average return of 1.7%. 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 funds in that category.
Harbor Mid Cap Value Instl has a trailing yield of 1.07%, which is above the 0.87% 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 Mid Cap Value Instl Grades
Year to date, the fund has returned 23.7%, 8.1 percentage points better than the category, which translates into a grade of A. The fund has returned 38.8% over the past year (grade of A), 18.8% over the past three years (grade of A) and 13.1% per year over the past five years (grade of A) and 10.8% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Harbor Mid Cap Value Instl, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
HAMVX 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 |
|
| HAMVX Return (NAV) | 3.6% | 8.8% | 38.8% | 18.8% | 13.1% | 10.8% |
| HAMVX Grade | A | A | A | A | A | B |
| +/- Category | 1.9% | 2.8% | 15.7% | 5.4% | 3.8% | 0.7% |
| Mid-Cap Value Avg | 1.7% | 6.0% | 23.1% | 13.4% | 9.4% | 10.1% |
| HAMVX Tax Cost Ratio | na | na | 2.0% | 1.8% | 1.6% | 1.4% |
HAMVX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HAMVX Return (NAV) | 23.7% | 15.9% | 12.0% | 16.3% | -5.5% | 30.0% | -3.8% | 22.9% | -17.7% | 12.0% | 19.0% |
| HAMVX Grade | A | A | C | B | B | B | F | F | F | D | B |
| +/- Category | 8.1% | 6.1% | 0.3% | 2.5% | 2.6% | 2.5% | -7.6% | -3.4% | -4.3% | -2.2% | 1.6% |
| Mid-Cap Value Avg | 15.5% | 9.9% | 11.8% | 13.9% | -8.2% | 27.5% | 3.8% | 26.3% | -13.4% | 14.1% | 17.4% |
| Risk Measures | |
| Standard Deviation: | 15.3% |
| Total Risk Index: | 1.25 - Above Average |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (74% Rank) |
| Beta: | 0.86 |
| R-Squared: | 54% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $460 Mil |
| Fund Total Assets: | $ 288 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 20% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 21.9 years | |||
| Average Tenure: 14.7 years | |||
| Managers (Year): Lakonishok Josef (2004), Vermeulen Menno (2004), Mansharamani Puneet (2006), Sleight Greg (2015), Lakonishok Guy (2015), Skarishevsky Gal (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 195 |
| % in Top 10 Holdings: | 13.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.0% |
Portfolio Allocation |
|
| Domestic Stock: | 95.5% |
| Foreign Stock: | 4.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.5% |
Purchase Information
| Fund Family: | Harbor Capital Advisors Inc |
| Phone Number: | 800-422-1050 |
| Website: | www.harborfunds.com |
| Status: | Open |
| Inception Date: | March 1, 2002 |
| Min. Initial Purchase: | $50,000 |
| Min. Initial IRA Purchase: | $50,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.85% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Harbor Mid Cap Value Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
