Harbor Bond Fund Retirement Class (HBFRX)

Fund Facts
Price (NAV) (08/23/2019) $11.96
Daily $ Change $0.08 
Daily % Change 0.67% 
YTD Return (08/23/2019) 8.95%
Current 30-Day Subsidized SEC Yield (08/23/2019) 2.49%
Current 30-Day Unsubsidized SEC Yield (08/23/2019) 2.39%
Effective 30-Day Subsidized SEC Yield (08/23/2019) 2.52%
Effective 30-Day Unsubsidized SEC Yield (08/23/2019) 2.42%
Average Annual Total Returns Since Inception (As of 07/31/2019) 6.88%
Inception Date 06/01/2018
Net Expense Ratio 0.43%
Gross Expense Ratio 0.83%
Portfolio Manager
Pacific Investment Management Company LLC (PIMCO)
Scott A. Mather
Mark R. Kiesel
Mihir P. Worah, Ph.D.
Share Class Net Assets (07/31/2019) $12.114 million
Overall Morningstar Rating (877 Intermediate-Term Bond funds)
Ticker HBFRX
Fund Number 2514
CUSIP 411512189
The Harbor Bond Fund is subadvised by Pacific Investment Management Company LLC (PIMCO). The Fund invests primarily in corporate and government-issued fixed income securities located in the U.S. and foreign countries, including emerging markets. The portfolio manager relies on proprietary research and analysis to select securities using a top-down strategy that takes into account:
  • Long-term social, political and demographics trends
  • Cyclical business and economic conditions
  • Current market conditions

The portfolio manager selects securities that appear the most undervalued relative to their risk and potential return characteristics. The Fund generally invests at least 80% of its net assets in a diversified portfolio of fixed income securities, and may invest up to 20% of total assets in below investment-grade domestic and foreign securities.

Performance Summary Performance Details >

As of Quarter Ended 06/30/2019
YTD1 Year5 Year10 YearSince Inception

Growth of a Hypothetical $10,000 Investment

Minimum Investment

Investors who wish to purchase, exchange or redeem shares held through a financial intermediary should contact the financial intermediary directly. The minimum initial investment amounts are shown below. The minimums may be reduced or waived in some cases. There are no minimums for subsequent investments.

Account Type Retirement Class
Regular $1,000,000
Individual Retirement Account (IRA) $1,000,000
Custodial $1,000,000

Performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the past performance data shown. Investment returns and the value of an investment will fluctuate, and an investor's shares, when sold, may be worth more or less than their original cost. You can obtain performance data current to the most recent month-end (available within seven business days after the most recent month-end) by calling 800-422-1050 or visiting harborfunds.com.

Retirement Class shares commenced operations on June 1, 2018. The performance attributed to the Retirement Class shares prior to that date is that of the Institutional Class shares. Performance prior to June 1, 2018 has not been adjusted to reflect the lower expenses of Retirement Class shares. During this period, Retirement Class shares would have had returns similar to, but somewhat higher than, Institutional Class shares due to the fact that Retirement Class shares represent interests in the same portfolio as Institutional Class shares but are subject to lower expenses.

The Harbor Funds performance shown assumes the reinvestment of dividend and capital gain distributions and is net of management fees and expenses. Returns for periods less than one year are not annualized.

From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The Harbor Bond Fund received a 4-star Overall Morningstar Rating™ as of 01/31/2019 out of 877 Intermediate-Term Bond funds. Bond Fund was rated 4-star among 877, 4-star among 768, and 3-star among 562 domestic Intermediate-Term Bond funds for the three-, five- and ten-year periods ended 01/31/2019, respectively. The Morningstar Rating is for the Retirement share class only; other classes may have different performance characteristics.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

©2019 Morningstar. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement.

Represents the average daily dividends for 30 days, annualized by 365 days and divided by the net asset value per share at the end of the period. Does not reflect reimbursements or fee waivers currently in effect.

Subject to a contractual management fee waiver and an expense limitation agreement, excluding interest expense, if any, through February 29, 2020.

Interest expense for the fiscal year ended October 31, 2018 was 0.29%

Represents the average daily dividends for 30 days, assuming all dividends are reinvested, annualized by 365 days and divided by the net asset value per share at the end of the period. Does not reflect reimbursements or fee waivers currently in effect.

Ex-Date. The date on which a Fund's net asset value (NAV) will fall by an amount equal to the dividend and/or capital gain distribution plus or minus any change in the value of the Fund's holdings.

Represents the average daily dividends for 30 days, assuming all dividends are reinvested, annualized by 365 days and divided by the net asset value per share at the end of the period. Reflects reimbursements or fee waivers currently in effect.

Represents the average daily dividends for 30 days, annualized by 365 days and divided by the net asset value per share at the end of the period. Reflects reimbursements or fee waivers currently in effect.

The Adviser has contractually agreed to reduce the management fee to 0.43% on assets between $1 billion and $3 billion and 0.405% on assets greater than $3 billion through February 29, 2020. Additionally, the Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.51%, 0.43% and 0.76% for the Institutional Class, Retirement Class, and Administrative Class, respectively, through February 29, 2020. Only the Fund's Board of Trustees may modify or terminate this agreement.

About Expense Ratios: All mutual funds have expense ratios which represent what shareholders pay for operating expenses and management fees. Expense ratios are expressed as an annualized percentage of a fund's average net assets paid out in expenses. Net expense ratios reflect adjustments due to voluntary or contractual fee waivers or expense reimbursements. Expense ratio information is as of the Fund's current prospectus, as revised and supplemented from time to time.