Skip to Content

Harbor Capital Appreciation Admin HRCAX Fund Analysis

| Analyst rating as of

Morningstar’s Fund Analysis HRCAX

Will HRCAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Harbor Capital Appreciation's Volatility Is a Feature Not a Bug

Analyst Note

| |

High-growth stocks, especially those within Harbor Capital Appreciation's bailiwick, have seen their share prices come under pressure in early 2022. Year to date through March 14, 2022, the mutual fund's institutional shares fell 25.3%, which was 5.3 and 6.1 percentage points worse than the typical large-growth Morningstar Category rival and Russell 1000 Growth Index, respectively. Former market darling and top-10 holding Shopify SHOP, whose shares are down a staggering 62.8%, detracted the most from returns during the two-and-a-half-month period. Such a sharp decline is uncomfortable but not necessarily surprising given this strategy's long-standing bold approach. It is behaving as expected, and its share classes retain their Morningstar Analyst Ratings of Gold or Silver, depending on fees.

Unlock our full analysis with Morningstar Investor