BCI vs. HMOP
BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) and HMOP (Hartford Municipal Opportunities ETF) are both exchange-traded funds - BCI is a Commodities fund tracking the Bloomberg Commodity Index Total Return, while HMOP is a Municipal Bonds fund actively managed by Hartford. BCI is passively managed, while HMOP is actively managed. Over the past 5 years, BCI returned 9.92%/yr vs 1.27%/yr for HMOP. At a correlation of -0.04, they often move in opposite directions. BCI charges 0.26%/yr vs 0.29%/yr for HMOP.
Performance
BCI vs. HMOP - Performance Comparison
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Returns By Period
In the year-to-date period, BCI achieves a 19.53% return, which is significantly higher than HMOP's 1.63% return.
BCI
- 1D
- 1.54%
- 1M
- -0.15%
- 6M
- 15.17%
- YTD
- 19.53%
- 1Y
- 28.14%
- 3Y*
- 11.87%
- 5Y*
- 9.92%
- 10Y*
- —
HMOP
- 1D
- -0.08%
- 1M
- 0.28%
- 6M
- 0.99%
- YTD
- 1.63%
- 1Y
- 5.78%
- 3Y*
- 4.28%
- 5Y*
- 1.27%
- 10Y*
- —
BCI vs. HMOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 19.53% | 15.07% | 5.47% | -8.79% | 15.09% | 26.18% | -2.77% | 7.06% | -11.21% | 5.34% |
HMOP Hartford Municipal Opportunities ETF | 1.63% | 4.70% | 2.52% | 6.83% | -8.37% | 1.80% | 5.52% | 7.77% | 1.59% | 0.05% |
Correlation
The correlation between BCI and HMOP is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2017 | -0.04 |
Over the past year, the inverse relationship between BCI and HMOP has strengthened: their correlation has moved from -0.04 to -0.25, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BCI vs. HMOP — Risk / Return Rank
BCI
HMOP
BCI vs. HMOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) 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.
| BCI | HMOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.44 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 2.15 | -0.24 |
| Martin ratioReturn relative to average drawdown | 6.39 | 6.80 | -0.42 |
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Drawdowns
BCI vs. HMOP - Drawdown Comparison
The maximum BCI drawdown since its inception was -32.69%, which is greater than HMOP's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for BCI and HMOP.
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Drawdown Indicators
| BCI | HMOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.69% | -13.12% | -19.57% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -2.70% | -12.12% |
Max Drawdown (3Y)Largest decline over 3 years | -14.82% | -4.81% | -10.01% |
Max Drawdown (5Y)Largest decline over 5 years | -26.50% | -13.12% | -13.38% |
Current DrawdownCurrent decline from peak | -9.90% | -0.69% | -9.21% |
Average DrawdownAverage peak-to-trough decline | -11.99% | -2.45% | -9.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 0.85% | +3.57% |
Volatility
BCI vs. HMOP - Volatility Comparison
abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) has a higher volatility of 4.62% compared to Hartford Municipal Opportunities ETF (HMOP) at 0.84%. This indicates that BCI'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
| BCI | HMOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 0.84% | +3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 14.99% | 1.93% | +13.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.32% | 2.68% | +14.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 3.87% | +12.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.66% | 4.25% | +11.41% |
BCI vs. HMOP - Expense Ratio Comparison
BCI has a 0.26% expense ratio, which is lower than HMOP's 0.29% expense ratio.
Dividends
BCI vs. HMOP - Dividend Comparison
BCI's dividend yield for the trailing twelve months is around 13.79%, more than HMOP's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 13.79% | 16.49% | 3.29% | 3.93% | 19.98% | 19.43% | 0.68% | 1.47% | 1.13% | 5.02% |
HMOP Hartford Municipal Opportunities ETF | 3.49% | 3.40% | 3.22% | 2.92% | 2.12% | 1.67% | 5.26% | 2.87% | 2.27% | 0.00% |
Frequently Asked Questions
BCI and HMOP have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCI has higher volatility (4.62%) compared to HMOP (0.84%). In terms of maximum drawdown, BCI dropped -32.69% vs HMOP's -13.12%.
On 5-year performance, BCI leads with 9.92% vs 1.27% for HMOP. On fees, BCI is cheaper at 0.26% per year. On volatility, HMOP has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BCI has performed better with a 9.92% return vs 1.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCI is cheaper with a 0.26% expense ratio, compared with 0.29% for HMOP.
BCI has the higher dividend yield at 13.79%, compared with 3.49% for HMOP.
BCI is categorized as Commodities, while HMOP is Municipal Bonds. They also come from different issuers: Aberdeen and Hartford. Their fees differ too: 0.26% for BCI and 0.29% for HMOP.
HMOP currently has the higher Sharpe Ratio (2.17 vs 1.64), 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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