Harbor Capital Bets On Energy With New ETF

Harbor Capital Advisors Inc., an asset manager with $54.7 billion under management, launched a new exchange-traded product Thursday that looks to gain exposure to the energy sector. 

The Harbor Energy Transition Strategy ETF (RENW) will be the firm’s eighth fund and will track the performance of the Quantix Energy Transition Index, owned by Quantix Commodities Indices. 

While some investors may be losing interest in the sector after delayed legislation on climate in the U.S. and amid the ongoing energy crisis, asset managers like Harbor Capital hold the long-term view.  

“We believe this [energy transition] will be one of the most significant macro themes in the financial markets for the next several decades,” said Kristof Gleich, president and CIO of Harbor Capital Advisors. “RENW is built to provide the opportunity to invest in this transition, through the commodities needed to facilitate change, as the world marches towards a net zero carbon emissions goal.” 

The commodities that make up this index include copper, silver and other metals used to build “new energy” infrastructure, those that support transition to a net-zero future or foster investment in renewable infrastructure like carbon credits, the company said in a statement.  

The iShares Global Clean Energy ETF (ICLN), which was up 141% in 2020 and even had its own Wall Street Bets thread on Reddit, remains among popular options for investors seeking exposure to the sector. 

Contact Daria Solovieva at [email protected]