HCRB vs. HMOP

Last updated Jun 24, 2026

HCRB (Hartford Core Bond ETF) and HMOP (Hartford Municipal Opportunities ETF) are both exchange-traded funds - HCRB is a Intermediate Core Bond fund actively managed by Hartford, while HMOP is a Municipal Bonds fund actively managed by Hartford. Both are actively managed. Over the past 5 years, HCRB returned 0.12%/yr vs 1.32%/yr for HMOP. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 0.29% expense ratio.

Performance

HCRB vs. HMOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Core Bond ETF (HCRB) and Hartford Municipal Opportunities ETF (HMOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCRB achieves a 0.55% return, which is significantly lower than HMOP's 1.37% return.

HCRB

• 1D: 0.17%
• 1M: 0.86%
• YTD: 0.55%
• 6M: 0.65%
• 1Y: 4.51%
• 3Y*: 4.46%
• 5Y*: 0.12%
• 10Y*: —

HMOP

• 1D: -0.31%
• 1M: 0.84%
• YTD: 1.37%
• 6M: 1.52%
• 1Y: 5.59%
• 3Y*: 4.21%
• 5Y*: 1.32%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HCRB vs. HMOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HCRB Hartford Core Bond ETF	0.55%	7.06%	2.23%	6.98%	-14.61%	-1.79%	6.87%
HMOP Hartford Municipal Opportunities ETF	1.37%	4.70%	2.52%	6.83%	-8.37%	1.80%	3.47%

Correlation

The correlation between HCRB and HMOP is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Feb 20, 2020	0.56

The correlation between HCRB and HMOP shifts across timeframes, from 0.44 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HCRB vs. HMOP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HCRB

HCRB Risk / Return Rank: 34
HCRB Sharpe Ratio Rank: 36
HCRB Sortino Ratio Rank: 36
HCRB Omega Ratio Rank: 34
HCRB Calmar Ratio Rank: 34
HCRB Martin Ratio Rank: 33

HMOP

HMOP Risk / Return Rank: 63
HMOP Sharpe Ratio Rank: 72
HMOP Sortino Ratio Rank: 75
HMOP Omega Ratio Rank: 79
HMOP Calmar Ratio Rank: 45
HMOP Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HCRB vs. HMOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Core Bond ETF (HCRB) 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.

	HCRB	HMOP	Difference
Sharpe ratio: Return per unit of total volatility	1.21	2.13	-0.92
Sortino ratio: Return per unit of downside risk	1.80	3.11	-1.32
Omega ratio: Gain probability vs. loss probability	1.21	1.43	-0.22
Calmar ratio: Return relative to maximum drawdown	1.61	2.08	-0.47
Martin ratio: Return relative to average drawdown	4.58	6.58	-2.00

HCRB vs. HMOP - Sharpe Ratio Comparison

The current HCRB Sharpe Ratio is 1.21, which is lower than the HMOP Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of HCRB and HMOP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HCRB vs. HMOP - Drawdown Comparison

The maximum HCRB drawdown since its inception was -19.90%, which is greater than HMOP's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for HCRB and HMOP.

Drawdown Indicators

	HCRB	HMOP	Difference
Max Drawdown Largest peak-to-trough decline	-19.90%	-13.12%	-6.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.70%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-6.18%	-4.81%	-1.37%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-13.12%	-6.30%
Current Drawdown Current decline from peak	-1.49%	-0.94%	-0.55%
Average Drawdown Average peak-to-trough decline	-6.97%	-2.46%	-4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.85%	+0.14%

Volatility

HCRB vs. HMOP - Volatility Comparison

Hartford Core Bond ETF (HCRB) has a higher volatility of 1.10% compared to Hartford Municipal Opportunities ETF (HMOP) at 0.81%. This indicates that HCRB'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.

Volatility by Period

	HCRB	HMOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	0.81%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	1.86%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	2.65%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.13%	3.87%	+2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.94%	4.25%	+1.69%

HCRB vs. HMOP - Expense Ratio Comparison

Both HCRB and HMOP have an expense ratio of 0.29%.

Dividends

HCRB vs. HMOP - Dividend Comparison

HCRB's dividend yield for the trailing twelve months is around 4.17%, more than HMOP's 3.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HCRB Hartford Core Bond ETF	4.17%	4.12%	4.15%	3.39%	2.18%	1.47%	1.81%	0.00%	0.00%
HMOP Hartford Municipal Opportunities ETF	3.46%	3.40%	3.22%	2.92%	2.12%	1.67%	5.26%	2.87%	2.27%

Frequently Asked Questions

Can I hold both HCRB and HMOP in my portfolio?

HCRB and HMOP have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCRB or HMOP?

HCRB has higher volatility (1.10%) compared to HMOP (0.81%). In terms of maximum drawdown, HCRB dropped -19.90% vs HMOP's -13.12%.

Which ETF is better, HCRB or HMOP?

On 5-year performance, HMOP leads with 1.32% vs 0.12% for HCRB. Both ETFs have the same 0.29% expense ratio. On volatility, HMOP has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HCRB or HMOP?

Over the 5-year period, HMOP has performed better with a 1.32% return vs 0.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCRB or HMOP?

HCRB and HMOP have the same expense ratio: 0.29% per year.

Which ETF pays a higher dividend yield, HCRB or HMOP?

HCRB has the higher dividend yield at 4.17%, compared with 3.46% for HMOP.

What is the main difference between HCRB and HMOP?

HCRB is categorized as Intermediate Core Bond, while HMOP is Municipal Bonds.

Which has better risk-adjusted returns?

HMOP currently has the higher Sharpe Ratio (2.13 vs 1.21), 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.