A Midwestern firm recently debuted its third ETF, with the support of five subadvisors.

Yesterday, the Harbor Capital Advisors, Inc. team launched their third ETF: the Harbor Disruptive Innovation ETF (INNO on the NYSE Arca). (Harbor launched its first two ETFs back in September.) The active, transparent ETF comes with an expense ratio of 75 basis points.

Harbor's own Kristof Gleich, president and chief investment officer, and Spenser Lerner, managing director and head of multi-asset solutions, PM the new fund. The fund also uses five non-discretionary subadvisors: 4BIO Partners LLP, NZS Capital, LLC, Sands Capital Management, LLC, Tekne Capital Management, LLC, and Westfield Capital Management Company, L.P.. Each subadvisor has a slightly different specialty in disruptive innovation; for example, 4BIO focuses on "advanced therapies," while NZS focuses on the analog-to-digital transition.

Other service providers to the new fund include: Ernst & Young LLP as independent accounting firm; Foreside Fund Services, LLC as distributor; and State Street Bank and Trust Company as custodian, dividend disbursing agent, and transfer agent. 

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