A new ETF from Harbor Capital Advisors will invest in the “energy transition”, or the bridge between the dirtiest fuels used today and the potential net-zero environment of the future.
The Chicago-based fund provider launched its Harbor Energy Transition Strategy ETF (RENW) on July 14, noting the product will track the Quantix Energy Transition Index. The index includes commodities such as metals used to build energy infrastructure, fuels like natural gas and incentives such as carbon credits, according to Harbor.
“The world is undergoing a dramatic energy regime shift that has only been accelerated by recent events. This will be one of the most significant macro themes in the financial markets for the next several decades,” Harbor Capital president Kristof Gleich said in the company’s announcement.
“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.”
Quantix Commodities is the subadvisor to the ETF, with the portfolio manager being Quantix’s Matthew Schwab.
The ETF’s management fee is 80 basis points, which represents its total net operating expenses, according to the prospectus.