BCD vs. HMOP
BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) and HMOP (Hartford Municipal Opportunities ETF) are both exchange-traded funds - BCD is a Commodities fund actively managed by Aberdeen, while HMOP is a Municipal Bonds fund actively managed by Hartford. Both are actively managed. Over the past 5 years, BCD returned 10.56%/yr vs 1.42%/yr for HMOP. At a correlation of -0.03, they often move in opposite directions. Both charge a 0.29% expense ratio.
Performance
BCD vs. HMOP - Performance Comparison
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Returns By Period
In the year-to-date period, BCD achieves a 10.82% return, which is significantly higher than HMOP's 1.77% return.
BCD
- 1D
- 1.60%
- 1M
- -7.52%
- YTD
- 10.82%
- 6M
- 9.47%
- 1Y
- 21.09%
- 3Y*
- 10.53%
- 5Y*
- 10.56%
- 10Y*
- —
HMOP
- 1D
- 0.01%
- 1M
- 0.87%
- YTD
- 1.77%
- 6M
- 1.84%
- 1Y
- 6.06%
- 3Y*
- 4.31%
- 5Y*
- 1.42%
- 10Y*
- —
BCD vs. HMOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 10.82% | 15.71% | 6.20% | -7.58% | 18.38% | 31.87% | 4.76% | 7.34% | -8.65% | 4.10% |
HMOP Hartford Municipal Opportunities ETF | 1.77% | 4.70% | 2.52% | 6.83% | -8.37% | 1.80% | 5.52% | 7.77% | 1.59% | 0.05% |
Correlation
The correlation between BCD and HMOP is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2017 | -0.03 |
The correlation between BCD and HMOP shifts across timeframes, from -0.22 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BCD vs. HMOP — Risk / Return Rank
BCD
HMOP
BCD vs. HMOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) and Hartford Municipal Opportunities ETF (HMOP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BCD | HMOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.47 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.25 | -0.59 |
| Martin ratioReturn relative to average drawdown | 7.13 | 7.13 | 0.00 |
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Drawdowns
BCD vs. HMOP - Drawdown Comparison
The maximum BCD drawdown since its inception was -29.81%, which is greater than HMOP's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for BCD and HMOP.
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Drawdown Indicators
| BCD | HMOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.81% | -13.12% | -16.69% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -2.70% | -10.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.70% | -4.81% | -7.89% |
Max Drawdown (5Y)Largest decline over 5 years | -23.03% | -13.12% | -9.91% |
Current DrawdownCurrent decline from peak | -11.30% | -0.55% | -10.75% |
Average DrawdownAverage peak-to-trough decline | -9.84% | -2.46% | -7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 0.85% | +2.12% |
Volatility
BCD vs. HMOP - Volatility Comparison
abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) has a higher volatility of 4.18% compared to Hartford Municipal Opportunities ETF (HMOP) at 0.82%. This indicates that BCD's price experiences larger fluctuations and is considered to be riskier than HMOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCD | HMOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 0.82% | +3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 12.21% | 1.89% | +10.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.97% | 2.66% | +11.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.42% | 3.87% | +11.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.92% | 4.25% | +9.67% |
BCD vs. HMOP - Expense Ratio Comparison
Both BCD and HMOP have an expense ratio of 0.29%.
Dividends
BCD vs. HMOP - Dividend Comparison
BCD's dividend yield for the trailing twelve months is around 15.53%, more than HMOP's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 15.53% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% |
HMOP Hartford Municipal Opportunities ETF | 3.45% | 3.40% | 3.22% | 2.92% | 2.12% | 1.67% | 5.26% | 2.87% | 2.27% | 0.00% |
Frequently Asked Questions
BCD and HMOP have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCD has higher volatility (4.18%) compared to HMOP (0.82%). In terms of maximum drawdown, BCD dropped -29.81% vs HMOP's -13.12%.
On 5-year performance, BCD leads with 10.56% vs 1.42% for HMOP. Both ETFs have the same 0.29% expense ratio. On volatility, HMOP has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BCD has performed better with a 10.56% return vs 1.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCD and HMOP have the same expense ratio: 0.29% per year.
BCD has the higher dividend yield at 15.53%, compared with 3.45% for HMOP.
BCD is categorized as Commodities, while HMOP is Municipal Bonds. They also come from different issuers: Aberdeen and Hartford.
HMOP currently has the higher Sharpe Ratio (2.29 vs 1.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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