Fund Evaluator:
Harbor Small Cap Value Instl (HASCX)
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Fund Details
Harbor Small Cap Value Instl Overview
Harbor Small Cap Value Instl (HASCX) is an actively managed U.S. Equity Small Blend fund. Harbor Capital Advisors Inc launched the fund in 2001.
The investment seeks long-term total return. The fund invests primarily in equity securities, principally common and preferred stocks, of small cap companies. Under normal market conditions, it invests at least 80% of its net assets, plus borrowings for investment purposes, in securities of small cap companies. The adviser defines small cap companies as those with market capitalizations that fall within the range of the Russell 2000® Index. The advisor expects to invest in approximately 55 to 70 companies.
About Harbor Small Cap Value Instl (HASCX)
There are 1 members of the management team with an average tenure of 24.64 years: Paul Viera (2001). 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 2000 Value TR USD index with a weighting of 100%. Harbor Small Cap Value Instl has 60 securities in its portfolio. The top 10 holdings constitute 29.5% 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 Small Cap Value Instl is part of the Equity global asset class and is within the U.S. Equity fund group. Harbor Small Cap Value Instl has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.6%. There is 0.0% 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 Small Cap Value Instl has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $685 million average for the Small Blend 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.
HASCX 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 Small Cap Value Instl expense ratio is high compared to funds in the Small Blend category. Harbor Small Cap Value Instl has an expense ratio of 0.88%, which is 16% 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 Small Cap Value Instl has a portfolio turnover rate of 8%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 66% for the Small Blend category.
Recently, in the month of July 2026, Harbor Small Cap Value Instl returned -4.7%, which earned it a grade of F, as the Small Blend category had an average return of -2.8%. 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 funds in that category.
Harbor Small Cap Value Instl has a trailing yield of 0.47%, which is above the 0.42% 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 Small Cap Value Instl Grades
Year to date, the fund has returned 28.6%, 10.5 percentage points better than the category, which translates into a grade of A. The fund has returned 38.7% over the past year (grade of A), 14.6% over the past three years (grade of B) and 9.5% per year over the past five years (grade of A) and 11.4% per year over the past 10 years (grade of B).
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HASCX 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 |
|
| HASCX Return (NAV) | -4.7% | 2.7% | 38.7% | 14.6% | 9.5% | 11.4% |
| HASCX Grade | F | F | A | B | A | B |
| +/- Category | -1.9% | -2.5% | 10.4% | 1.1% | 2.0% | 1.1% |
| Small Blend Avg | -2.8% | 5.2% | 28.3% | 13.5% | 7.6% | 10.3% |
| HASCX Tax Cost Ratio | na | na | 0.8% | 0.9% | 1.2% | 0.9% |
HASCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HASCX Return (NAV) | 28.6% | 3.8% | 10.9% | 15.1% | -9.5% | 14.7% | 13.1% | 29.0% | -16.0% | 21.6% | 23.5% |
| HASCX Grade | A | D | C | D | A | F | C | A | F | A | B |
| +/- Category | 10.5% | -4.2% | -0.6% | -1.4% | 7.0% | -8.6% | -1.2% | 3.5% | -4.1% | 7.6% | 3.3% |
| Small Blend Avg | 18.2% | 7.9% | 11.6% | 16.5% | -16.5% | 23.2% | 14.4% | 25.5% | -11.8% | 14.1% | 20.2% |
| Risk Measures | |
| Standard Deviation: | 19.5% |
| Total Risk Index: | 1.59 - High |
| Category Risk Index: | 1.06 - Above Average |
| Category Risk Grade: | D (79% Rank) |
| Beta: | 1.05 |
| R-Squared: | 49% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.5% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2511 Mil |
| Fund Total Assets: | $1,868 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 8% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 24.6 years | |||
| Average Tenure: 24.6 years | |||
| Managers (Year): Viera Paul (2001) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 60 |
| % in Top 10 Holdings: | 29.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 98.6% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
Purchase Information
| Fund Family: | Harbor Capital Advisors Inc |
| Phone Number: | 800-422-1050 |
| Website: | www.harborfunds.com |
| Status: | Closed |
| Inception Date: | December 14, 2001 |
| 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 (%): | 0.88% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Harbor Small Cap Value Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
