Harbor AlphaEdge™ Small Cap
Growth ETF
| AESG |
Summary Prospectus – August 27, 2026
Before you
invest, you may want to review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus and
other information about the Fund online at harborcapital.com/prospectus. You can also get this information at no cost by calling 800-422-1050 or by sending an email request to funddocuments@harborcapital.com. If you purchase shares of the Fund through a financial intermediary, the prospectus and other information will also be available from your financial intermediary. The current prospectus and statement of additional information, dated August 14, 2026, as amended or supplemented from time to time, are incorporated by referenced into this summary prospectus and may be obtained, free of charge, at the website, phone number or email address noted above.
Investment
Objective
The Fund seeks long-term growth of capital.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if
you buy, hold and sell shares of the Fund. You may pay other
fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
| Management Fees |
0.40% |
| Distribution and Service (12b-1) Fees |
None |
| Other Expenses1,2 |
0.00% |
| Total Annual Fund Operating Expenses |
0.40% |
1
Pursuant to the Investment Advisory Agreement, the Advisor pays all of the operating expenses of the Fund, except for (i) the fee payment
under the Investment Advisory Agreement; (ii) payments under the Fund’s 12b-1 plan (if any); (iii) the costs of borrowing, including interest and dividend expenses; (iv) taxes and governmental fees; (v) acquired fund
fees and expenses; (vi) brokers’ commissions and any other transaction-related expenses and fees arising out of transactions effected on behalf of
the Fund; (vii) costs of holding shareholder meetings; (viii) any gains or losses attributable to investments under a deferred compensation plan for Trustees who are not “interested persons” of the Trust; and (ix) litigation and indemnification expenses and other extraordinary
expenses not incurred in the ordinary course of the Fund’s business.
2 “Other Expenses” are estimated
for the current fiscal year.
Expense Example
This Expense Example is intended to help you compare the cost of investing
in the Fund with the cost of investing in other exchange-traded funds. The Expense Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Expense
Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, under these assumptions, your
costs would be:
| One
Year |
Three
Years |
| $41 |
$128 |
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in
higher taxes when shares of the Fund are held in a taxable account. These costs, which are not reflected in the Annual Fund Operating Expenses or in the Expense Example, do affect the Fund’s
performance. The Fund had not commenced operations
as of the date of this Prospectus and no portfolio turnover rate existed at the time of
this publication.
Principal Investment Strategy
Harbor Capital Advisors, Inc. (“Harbor Capital” or the “Advisor”), the investment adviser to the Fund, employs an active, quantitative approach
designed to evaluate companies based on fundamental and market factors and construct a portfolio of securities featuring characteristics expected to be favored in the prevailing market environment.
The Fund invests primarily in equity securities of small capitalization growth companies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of small cap growth
companies. The Fund defines small cap companies as those with market
capitalizations that fall within the range of the Russell 2000® Index. The Fund defines growth companies as those that the Advisor determines to be “growth companies”
based on a proprietary growth factor analysis, which includes
consideration of factors such as historical sales growth, expected sales growth, historical earnings growth, and expected earnings growth.
The Advisor’s systematic approach uses proprietary
models and statistical techniques to analyze a range of fundamental and market-based characteristics. One component of this process is to evaluate
each company across five broad categories: Capital Deployment, Momentum, Quality, Risk and Valuation. Each category incorporates multiple underlying metrics and reflects different
drivers of return, including both fundamental and market-based inputs. The outputs of this analysis are used to produce an assessment of each company’s expected return potential (the “alpha
score”).
The Advisor’s systematic approach is also designed to adapt to
changing market conditions—such as growth, liquidity, inflation and market sentiment—and adjusts exposures accordingly. This
regime-aware approach seeks to align the portfolio with the types
of attributes that the model predicts are more likely to be rewarded in the
current market environment.
Securities are selected and weighted for inclusion in the Fund’s
portfolio using an optimization process designed to maximize
expected returns, based on the alpha score, subject to defined
risk management parameters. The optimization also includes
constraints pertaining to growth-related characteristics designed
to produce a portfolio with a growth orientation. These parameters serve as
constraints intended to control overall portfolio risk.
The Fund typically holds between 75 and 200 equity securities, primarily common stock.
Principal Risks
There is no guarantee that the investment objective of the
Fund will be achieved. Stocks fluctuate in price and the value of your investment in the Fund may go down. This means that you could lose money on your investment in the Fund or the Fund may not perform as
well as other investment options. Principal risks
1
