HCRB vs. VMAX

Last updated Jun 3, 2026

HCRB (Hartford Core Bond ETF) and VMAX (Hartford US Value ETF) are both exchange-traded funds - HCRB is a Intermediate Core Bond fund actively managed by Hartford, while VMAX is a Large Cap Value Equities fund actively managed by Hartford. Both are actively managed. Over the past year, HCRB returned 5.49% vs 27.28% for VMAX. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.29% expense ratio.

Performance

HCRB vs. VMAX - Performance Comparison

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

Returns By Period

In the year-to-date period, HCRB achieves a 0.41% return, which is significantly lower than VMAX's 12.22% return.

HCRB

• 1D: -0.03%
• 1M: 0.19%
• YTD: 0.41%
• 6M: 0.45%
• 1Y: 5.49%
• 3Y*: 4.50%
• 5Y*: 0.25%
• 10Y*: —

VMAX

• 1D: -0.50%
• 1M: 2.11%
• YTD: 12.22%
• 6M: 13.50%
• 1Y: 27.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCRB vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HCRB Hartford Core Bond ETF	0.41%	7.06%	2.23%	2.44%
VMAX Hartford US Value ETF	12.22%	15.65%	15.89%	6.98%

Correlation

The correlation between HCRB and VMAX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.17

Return for Risk

HCRB vs. VMAX — Risk / Return Rank

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

HCRB

HCRB Risk / Return Rank: 39
HCRB Sharpe Ratio Rank: 41
HCRB Sortino Ratio Rank: 42
HCRB Omega Ratio Rank: 39
HCRB Calmar Ratio Rank: 37
HCRB Martin Ratio Rank: 35

VMAX

VMAX Risk / Return Rank: 75
VMAX Sharpe Ratio Rank: 67
VMAX Sortino Ratio Rank: 67
VMAX Omega Ratio Rank: 65
VMAX Calmar Ratio Rank: 90
VMAX Martin Ratio Rank: 88

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. VMAX - Risk-Adjusted Trends Comparison

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

	HCRB	VMAX	Difference
Sharpe ratio Return per unit of total volatility	1.45	2.25	-0.80
Sortino ratio Return per unit of downside risk	2.16	3.07	-0.92
Omega ratio Gain probability vs. loss probability	1.26	1.39	-0.14
Calmar ratio Return relative to maximum drawdown	1.85	5.56	-3.70
Martin ratio Return relative to average drawdown	5.66	19.55	-13.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCRB vs. VMAX - Sharpe Ratio Comparison

The current HCRB Sharpe Ratio is 1.45, which is lower than the VMAX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of HCRB and VMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HCRB	VMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	2.25	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	1.37	-1.24

Drawdowns

HCRB vs. VMAX - Drawdown Comparison

The maximum HCRB drawdown since its inception was -19.90%, roughly equal to the maximum VMAX drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for HCRB and VMAX.

Drawdown Indicators

	HCRB	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.90%	-19.05%	-0.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-4.93%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	-6.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	—	—
Current Drawdown Current decline from peak	-1.63%	-0.50%	-1.13%
Average Drawdown Average peak-to-trough decline	-7.02%	-2.57%	-4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	1.40%	-0.48%

Volatility

HCRB vs. VMAX - Volatility Comparison

The current volatility for Hartford Core Bond ETF (HCRB) is 1.30%, while Hartford US Value ETF (VMAX) has a volatility of 2.55%. This indicates that HCRB experiences smaller price fluctuations and is considered to be less risky than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCRB	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	2.55%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	2.71%	8.71%	-6.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	12.22%	-8.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.13%	15.45%	-9.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.96%	15.45%	-9.49%

HCRB vs. VMAX - Expense Ratio Comparison

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

Dividends

HCRB vs. VMAX - Dividend Comparison

HCRB's dividend yield for the trailing twelve months is around 4.18%, more than VMAX's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HCRB Hartford Core Bond ETF	4.18%	4.12%	4.15%	3.39%	2.18%	1.47%	1.81%
VMAX Hartford US Value ETF	1.91%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCRB and VMAX in my portfolio?

HCRB and VMAX have a correlation of 0.19, 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 VMAX?

VMAX has higher volatility (2.55%) compared to HCRB (1.30%). In terms of maximum drawdown, HCRB dropped -19.90% vs VMAX's -19.05%.

Which ETF is better, HCRB or VMAX?

On 1-year performance, VMAX leads with 27.28% vs 5.49% for HCRB. Both ETFs have the same 0.29% expense ratio. On volatility, HCRB has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HCRB or VMAX?

Over the 1-year period, VMAX has performed better with a 27.28% return vs 5.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCRB or VMAX?

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

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

HCRB has the higher dividend yield at 4.18%, compared with 1.91% for VMAX.

What is the main difference between HCRB and VMAX?

HCRB is categorized as Intermediate Core Bond, while VMAX is Large Cap Value Equities.

Which has better risk-adjusted returns?

VMAX currently has the higher Sharpe Ratio (2.25 vs 1.45), 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.