COM vs. HMOP
COM (Direxion Auspice Broad Commodity Strategy ETF) and HMOP (Hartford Municipal Opportunities ETF) are both exchange-traded funds - COM is a Commodities fund tracking the Auspice Broad Commodity ER Index, while HMOP is a Municipal Bonds fund actively managed by Hartford. COM is passively managed, while HMOP is actively managed. Over the past 5 years, COM returned 8.45%/yr vs 1.20%/yr for HMOP. At a correlation of -0.00, they often move in opposite directions. COM charges 0.70%/yr vs 0.29%/yr for HMOP.
Performance
COM vs. HMOP - Performance Comparison
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Returns By Period
In the year-to-date period, COM achieves a 15.77% return, which is significantly higher than HMOP's 1.37% return.
COM
- 1D
- -0.27%
- 1M
- 2.86%
- 6M
- 11.40%
- YTD
- 15.77%
- 1Y
- 23.43%
- 3Y*
- 7.83%
- 5Y*
- 8.45%
- 10Y*
- —
HMOP
- 1D
- -0.10%
- 1M
- -0.23%
- 6M
- 0.67%
- YTD
- 1.37%
- 1Y
- 6.12%
- 3Y*
- 4.11%
- 5Y*
- 1.20%
- 10Y*
- —
COM vs. HMOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 15.77% | 7.72% | 5.81% | -2.09% | 9.17% | 28.00% | 6.63% | -0.18% | -0.03% | 3.87% |
HMOP Hartford Municipal Opportunities ETF | 1.37% | 4.70% | 2.52% | 6.83% | -8.37% | 1.80% | 5.52% | 7.77% | 1.59% | 0.05% |
Correlation
The correlation between COM 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 | -0.08 |
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 | -0.00 |
Over the past year, the inverse relationship between COM and HMOP has strengthened: their correlation has moved from -0.00 to -0.25, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
COM vs. HMOP — Risk / Return Rank
COM
HMOP
COM vs. HMOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Auspice Broad Commodity Strategy ETF (COM) 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.
| COM | HMOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.48 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 2.27 | +0.81 |
| Martin ratioReturn relative to average drawdown | 9.07 | 7.25 | +1.82 |
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Drawdowns
COM vs. HMOP - Drawdown Comparison
The maximum COM drawdown since its inception was -15.95%, which is greater than HMOP's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for COM and HMOP.
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Drawdown Indicators
| COM | HMOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.95% | -13.12% | -2.83% |
Max Drawdown (1Y)Largest decline over 1 year | -7.63% | -2.70% | -4.93% |
Max Drawdown (3Y)Largest decline over 3 years | -8.50% | -4.81% | -3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -14.02% | -13.12% | -0.90% |
Current DrawdownCurrent decline from peak | -3.87% | -0.94% | -2.93% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -2.45% | -3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 0.85% | +1.74% |
Volatility
COM vs. HMOP - Volatility Comparison
Direxion Auspice Broad Commodity Strategy ETF (COM) has a higher volatility of 2.10% compared to Hartford Municipal Opportunities ETF (HMOP) at 0.84%. This indicates that COM'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
| COM | HMOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 0.84% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 1.94% | +6.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.33% | 2.65% | +7.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.51% | 3.87% | +5.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.75% | 4.24% | +5.51% |
COM vs. HMOP - Expense Ratio Comparison
COM has a 0.70% expense ratio, which is higher than HMOP's 0.29% expense ratio.
Dividends
COM vs. HMOP - Dividend Comparison
COM's dividend yield for the trailing twelve months is around 2.51%, less than HMOP's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 2.51% | 2.99% | 3.88% | 3.80% | 8.59% | 10.32% | 0.13% | 1.09% | 2.36% | 0.09% |
HMOP Hartford Municipal Opportunities ETF | 3.50% | 3.40% | 3.22% | 2.92% | 2.12% | 1.67% | 5.26% | 2.87% | 2.27% | 0.00% |
Frequently Asked Questions
COM 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.
COM has higher volatility (2.10%) compared to HMOP (0.84%). In terms of maximum drawdown, COM dropped -15.95% vs HMOP's -13.12%.
On 5-year performance, COM leads with 8.45% vs 1.20% for HMOP. On fees, HMOP is cheaper at 0.29% 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, COM has performed better with a 8.45% return vs 1.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HMOP is cheaper with a 0.29% expense ratio, compared with 0.70% for COM.
HMOP has the higher dividend yield at 3.50%, compared with 2.51% for COM.
COM is categorized as Commodities, while HMOP is Municipal Bonds. They also come from different issuers: Direxion and Hartford. Their fees differ too: 0.70% for COM and 0.29% for HMOP.
HMOP currently has the higher Sharpe Ratio (2.33 vs 2.28), 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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