HDGYX vs. HMJIX

Last updated Jun 4, 2026

HDGYX (The Hartford Dividend and Growth Fund) and HMJIX (Hartford Municipal Short Duration Fund) are both mutual funds - HDGYX is a Large Cap Value Equities fund managed by Hartford, while HMJIX is a Municipal Bonds fund managed by Hartford. Over the past 10 years, HDGYX returned 13.19%/yr vs 1.67%/yr for HMJIX. At a 0.02 correlation, their price movements are largely independent. HDGYX charges 0.69%/yr vs 0.46%/yr for HMJIX.

Performance

HDGYX vs. HMJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Hartford Dividend and Growth Fund (HDGYX) and Hartford Municipal Short Duration Fund (HMJIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDGYX achieves a 8.94% return, which is significantly higher than HMJIX's 0.69% return. Over the past 10 years, HDGYX has outperformed HMJIX with an annualized return of 13.19%, while HMJIX has yielded a comparatively lower 1.67% annualized return.

HDGYX

• 1D: 0.15%
• 1M: 4.05%
• YTD: 8.94%
• 6M: 9.91%
• 1Y: 24.38%
• 3Y*: 16.23%
• 5Y*: 10.80%
• 10Y*: 13.19%

HMJIX

• 1D: 0.10%
• 1M: 0.32%
• YTD: 0.69%
• 6M: 0.95%
• 1Y: 3.56%
• 3Y*: 3.10%
• 5Y*: 1.27%
• 10Y*: 1.67%

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

HDGYX vs. HMJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDGYX The Hartford Dividend and Growth Fund	8.94%	17.15%	12.41%	14.11%	-8.62%	31.32%	8.03%	31.88%	-5.44%	18.29%
HMJIX Hartford Municipal Short Duration Fund	0.69%	3.69%	2.33%	3.56%	-3.75%	0.71%	2.72%	4.16%	1.62%	2.56%

Correlation

The correlation between HDGYX and HMJIX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.02

Over the past year, HDGYX and HMJIX have become more correlated (0.25) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

HDGYX vs. HMJIX — Risk / Return Rank

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

HDGYX

HDGYX Risk / Return Rank: 62
HDGYX Sharpe Ratio Rank: 62
HDGYX Sortino Ratio Rank: 60
HDGYX Omega Ratio Rank: 56
HDGYX Calmar Ratio Rank: 64
HDGYX Martin Ratio Rank: 70

HMJIX

HMJIX Risk / Return Rank: 74
HMJIX Sharpe Ratio Rank: 94
HMJIX Sortino Ratio Rank: 94
HMJIX Omega Ratio Rank: 98
HMJIX Calmar Ratio Rank: 48
HMJIX Martin Ratio Rank: 35

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.

HDGYX vs. HMJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Hartford Dividend and Growth Fund (HDGYX) and Hartford Municipal Short Duration Fund (HMJIX). 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.

	HDGYX	HMJIX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	3.28	-0.96
Sortino ratio: Return per unit of downside risk	3.25	4.97	-1.72
Omega ratio: Gain probability vs. loss probability	1.41	2.22	-0.81
Calmar ratio: Return relative to maximum drawdown	3.10	2.65	+0.45
Martin ratio: Return relative to average drawdown	13.39	7.78	+5.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDGYX vs. HMJIX - Sharpe Ratio Comparison

The current HDGYX Sharpe Ratio is 2.32, which is comparable to the HMJIX Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of HDGYX and HMJIX, 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

	HDGYX	HMJIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	3.28	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.83	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.94	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.97	-0.38

Drawdowns

HDGYX vs. HMJIX - Drawdown Comparison

The maximum HDGYX drawdown since its inception was -50.78%, which is greater than HMJIX's maximum drawdown of -7.02%. Use the drawdown chart below to compare losses from any high point for HDGYX and HMJIX.

Drawdown Indicators

	HDGYX	HMJIX	Difference
Max Drawdown Largest peak-to-trough decline	-50.78%	-7.02%	-43.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	-1.39%	-6.61%
Max Drawdown (3Y) Largest decline over 3 years	-13.70%	-1.71%	-11.99%
Max Drawdown (5Y) Largest decline over 5 years	-18.79%	-6.26%	-12.53%
Max Drawdown (10Y) Largest decline over 10 years	-34.98%	-7.02%	-27.96%
Current Drawdown Current decline from peak	-0.26%	-0.64%	+0.38%
Average Drawdown Average peak-to-trough decline	-5.82%	-1.01%	-4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	0.47%	+1.38%

Volatility

HDGYX vs. HMJIX - Volatility Comparison

The Hartford Dividend and Growth Fund (HDGYX) has a higher volatility of 2.62% compared to Hartford Municipal Short Duration Fund (HMJIX) at 0.39%. This indicates that HDGYX's price experiences larger fluctuations and is considered to be riskier than HMJIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDGYX	HMJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	0.39%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	8.04%	0.92%	+7.12%
Volatility (1Y) Calculated over the trailing 1-year period	10.69%	1.13%	+9.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.02%	1.53%	+12.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	1.79%	+14.82%

HDGYX vs. HMJIX - Expense Ratio Comparison

HDGYX has a 0.69% expense ratio, which is higher than HMJIX's 0.46% expense ratio.

Dividends

HDGYX vs. HMJIX - Dividend Comparison

HDGYX's dividend yield for the trailing twelve months is around 11.28%, more than HMJIX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDGYX The Hartford Dividend and Growth Fund	11.28%	12.31%	10.61%	1.82%	6.08%	5.80%	3.61%	7.15%	12.64%	11.68%	4.92%	10.83%
HMJIX Hartford Municipal Short Duration Fund	2.50%	2.01%	1.89%	1.83%	1.44%	1.21%	1.78%	2.28%	1.90%	1.63%	1.27%	0.00%

Frequently Asked Questions

Can I hold both HDGYX and HMJIX in my portfolio?

HDGYX and HMJIX 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.

Which is riskier, HDGYX or HMJIX?

HDGYX has higher volatility (2.62%) compared to HMJIX (0.39%). In terms of maximum drawdown, HDGYX dropped -50.78% vs HMJIX's -7.02%.

Which has better risk-adjusted returns?

HMJIX currently has the higher Sharpe Ratio (3.28 vs 2.32), 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.