Skip to contentHome page Seeking Alpha - Power to InvestorsJan. 03, 2026 12:10 AM ETHarbor International Small Cap Fund Institutional Class (HAISX), HIISX, HNISXHarbor Capital Advisors51 FollowersCommentsSummaryThe most significant macro-level factor driving global equity markets during the third quarter was the anticipation of the Fed's rate cut and its eventual confirmation in mid-September.During the third quarter, the Harbor International Small Cap Fund returned 1.76%, underperforming its benchmark, the MSCI EAFE Small Cap Index, which returned 6.20%.In our view, the Fund’s relative underperformance can be attributed to the speculative influences of the Fed’s interest rate policy decision.syahrir maulana/iStock via Getty Images“Although short-term performance may be impacted by macro-driven factor investors, we believe the current environment presents as much opportunity to improve quality as it does risk.” - Cedar Street Asset ManagementMarket in ReviewThis article was written byHarbor Capital Advisors51 FollowersHarbor Capital is an asset manager focused on curating an intentionally select suite of active ETFs that they believe have the potential to produce compelling, risk-adjusted returns within a portfolio. Note: This account is not managed or monitored by Harbor Capital, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Harbor Capital's official channels.CommentsTo ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.Is this happening to you frequently? Please report it on our feedback forum.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.