Fund Evaluator:
Harbor Mid Cap Retirement (HMCRX)
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Best Performing in Mid-Cap Blend Over the Last Year
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Fund Details
Harbor Mid Cap Retirement Overview
Harbor Mid Cap Retirement (HMCRX) is an actively managed U.S. Equity Mid-Cap Blend fund. Harbor Capital Advisors Inc launched the fund in 2019.
The investment seeks long-term total return. The fund invests primarily in equity securities, principally common and preferred stocks, of U.S. 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 employs a disciplined investment approach that seeks to identify companies that, in the Subadvisor's view, demonstrate strong business fundamentals and earnings prospects that are not fully captured in the companies' current market valuations.
About Harbor Mid Cap Retirement (HMCRX)
There are 1 members of the management team with an average tenure of 6.67 years: Paul Viera (2019). 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 TR USD index with a weighting of 100%. Harbor Mid Cap Retirement has 60 securities in its portfolio. The top 10 holdings constitute 28.0% 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 Retirement is part of the Equity global asset class and is within the U.S. Equity fund group. Harbor Mid Cap Retirement has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.1%. 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 Mid Cap Retirement has 3.9% of the portfolio in cash.
Assets Under Management
The fund has $81 million in total assets, which is below the $1 billion average for the Mid-Cap 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.
HMCRX 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 Retirement expense ratio is high compared to funds in the Mid-Cap Blend category. Harbor Mid Cap Retirement has an expense ratio of 0.80%, 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 Retirement has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Harbor Mid Cap Retirement returned -2.3%, which earned it a grade of C, as the Mid-Cap Blend category had an average return of -1.8%. 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 Mid Cap Retirement has a trailing yield of 0.64%, which is above the 0.48% category average. The fund normally distributes its income 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 Retirement Grades
Year to date, the fund has returned 14.0%, 0.9 percentage points better than the category, which translates into a grade of C. The fund has returned 22.8% over the past year (grade of A), 12.0% over the past three years (grade of D) and 7.1% per year over the past five years (grade of D).
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HMCRX 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 |
|
| HMCRX Return (NAV) | -2.3% | 1.4% | 22.8% | 12.0% | 7.1% | na |
| HMCRX Grade | C | F | A | D | D | na |
| +/- Category | -0.4% | -2.4% | 5.0% | -0.7% | -0.6% | na |
| Mid-Cap Blend Avg | -1.8% | 3.9% | 17.8% | 12.7% | 7.6% | 10.3% |
| HMCRX Tax Cost Ratio | na | na | 0.7% | 0.6% | 0.7% | na |
HMCRX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HMCRX Return (NAV) | 14.0% | 9.8% | 7.4% | 16.9% | -17.1% | 24.7% | 19.0% | na | na | na | na |
| HMCRX Grade | C | B | F | B | D | C | A | na | na | na | na |
| +/- Category | 0.9% | 1.8% | -6.2% | 0.5% | -2.0% | 0.4% | 5.7% | na | na | na | na |
| Mid-Cap Blend Avg | 13.0% | 7.9% | 13.5% | 16.4% | -15.1% | 24.3% | 13.3% | 28.5% | -10.3% | 16.1% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 14.8% |
| Total Risk Index: | 1.21 - Above Average |
| Category Risk Index: | 0.94 - Below Average |
| Category Risk Grade: | B (29% Rank) |
| Beta: | 0.89 |
| R-Squared: | 61% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $234 Mil |
| Fund Total Assets: | $ 81 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 22% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 6.7 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Viera Paul (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 60 |
| % in Top 10 Holdings: | 28.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 96.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.9% |
Purchase Information
| Fund Family: | Harbor Capital Advisors Inc |
| Phone Number: | 800-422-1050 |
| Website: | www.harborfunds.com |
| Status: | Open |
| Inception Date: | December 2, 2019 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $1,000,000 |
| 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 (%): | 0.80% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Harbor Mid Cap Institutional |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
