Harbor Scientific Alpha High-Yield ETF Strategy Profile

Table of Contents

• History of Consistent & Attractive Return Profile
• Compounding Consistency
• Upside Participation with Downside Mitigation
• Introducing BlueCove
• Introducing Scientific Investing
• Portfolio Construction
• The BlueCove Process

Average Annual Returns as of 6/30/2024

	3 Months	YTD	1 Yr.	3 Yr.	5 Yr.	10 Yr.	Since Inception	Inception Date	Total Expense Ratio
Harbor Scientific Alpha High-Yield ETF (NAV)	1.53%	2.94%	11.94%	N/A	N/A	N/A	2.73%	9/14/2021	0.48%
Harbor Scientific Alpha High-Yield ETF (Market)	1.10%	2.95%	12.06%	N/A	N/A	N/A	2.60%	9/14/2021
ICE BofA US High Yield Index (H0A0)	1.09%	2.62%	10.45%	N/A	N/A	N/A	1.27%	9/14/2021

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

Shares are bought and sold at market price not net asset value (NAV). A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

Source: Morningstar Direct. June 2024.

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

Source: FRED.

^1. On 28 February 2023, BlueCove and Ares Management announced a strategic partnership.

Ultimately the portfolio is constructed through an optimization¹ process driven by proprietary tools and aims to:

SIHY is differentiated from other active competitors by applying a scientific approach while matching the market exposure of the index, hence emphasizing a strong security selection focus.

Signal	Insight
Equity momentum	Equity price
Earnings forecast Earnings sentiment	Earnings outlook
Fundamental momentum	Profitability trend
Geographic momentum	Economic relationships
Structural default probability value Fundamental default probability value	Relative Value
Cash flow generation Profitability	Fundamentals
Asset volatility Equity risk premium	Business stability & strength

^1. Optimization is a point in time construction of portfolios reflecting known inputs and constraints and does not imply that further improvements are not possible.

Important Information

Investors should carefully consider the investment objectives, risks, charges and expenses of a Harbor fund before investing. To obtain a summary prospectus or prospectus for this and other information, visit harborcapital.com or call 800-422-1050. Read it carefully before investing.

Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Harbor ETFs are new and have limited operating history to judge.

All investments involve risk including the possible loss of principal. Fixed income securities fluctuate in price in response to various factors, including changes in interest rates, changes in market conditions and issuer-specific events, and the value of your investment in the Fund may go down. There is a greater risk that the Fund will lose money because they invest in below- investment grade fixed income securities and unrated securities of similar credit quality (commonly referred to as “high-yield securities” or “junk bonds”). These securities are considered speculative because they have a higher risk of issuer default, are subject to greater price volatility and may be illiquid. Because the Fund may invest in securities of foreign issuers, an investment in the Fund is subject to special risks in addition to those of U.S. securities. These risks include heightened political and economic risks, greater volatility, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, possible sanctions by government bodies of other countries and less stringent investor protection and disclosure standards of foreign markets.

The ICE BofAML US High Yield Index (H0A0) is an unmanaged index that tracks the performance of below investment grade U.S. Dollar-denominated corporate bonds publicly issued in the U.S. domestic market. All bonds are U.S. dollar denominated and rated Split BBB and below. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

In relation to any data attributed to Morningstar, please note the following: © Morningstar 2024. All rights reserved. Use of this content requires expert knowledge. It is to be used by specialist institutions only. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied, adapted or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information, except where such damages or losses cannot be limited or excluded by law in your jurisdiction. Past financial performance is no guarantee of future results.

The Morningstar Rankings are based on total returns, with distributions reinvested and operating expenses deducted. Morningstar does not take into account sales charges. Harbor Scientific Alpha High-Yield ETF was ranked against Morningstar's US Fund High Yield Bond category, quarterly, over the following time periods: 50 out of 657 investments in the category for the 1-year period as of 06/30/2024. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. Past rankings are no guarantee of future rankings.

A basis point is a standard measure for interest rates and other percentages in finance. One basis point equals 1/100th of 1%, or 0.01% (and.0001 in decimal form).

Option Adjusted Spread (OAS) is the measurement of the spread of a fixed-income security rate and the risk-free rate of return, which is then adjusted to take into account an embedded option.

Alpha refers to excess returns earned on an investment.

The views expressed herein may not be reflective of current opinions, are subject to change without prior notice, and should not be considered investment advice.

BlueCove Limited is a third-party subadvisor to the Harbor Scientific Alpha High-Yield ETF.

Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.

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