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Morningstar

Harbor High-Yield Bond Inv HYFIX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 8.82  /  0.34 %
  • Total Assets 195.2 Mil
  • Adj. Expense Ratio
    1.030%
  • Expense Ratio 1.010%
  • Distribution Fee Level High
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 5.30%
  • Effective Duration —

USD | NAV as of Feb 02, 2023 | 1-Day Return as of Feb 02, 2023, 12:19 AM GMT+00:00

Morningstar’s Analysis HYFIX

Will HYFIX outperform in future?

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

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable HYFIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the HYFIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of HYFIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A new subadvisor will wield an unproven approach.

Associate Analyst

Summary

| by Max Curtin

Harbor will remove Shenkman Capital as Harbor High-Yield Bond’s subadvisor effective February 2023 and will convert remaining assets to Harbor Scientific Alpha High-Yield ETF SIHY, subadvised by BlueCove Limited. These changes materially alter this strategy, and more time is needed to assess if this fresh approach has an edge over peers. This shift warrants Morningstar Analyst Rating downgrades to Neutral from Silver and Bronze for its cheaper share classes, while its most expensive shares remain Neutral.

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