HGIYX vs. HCAYX

Last updated Jun 25, 2026

HGIYX (Hartford Core Equity Fund) and HCAYX (The Hartford Capital Appreciation Fund) are both Large Cap Blend Equities funds from Hartford. Over the past 10 years, HGIYX returned 14.49%/yr vs 12.81%/yr for HCAYX. Their correlation of 0.92 suggests significant overlap in exposure. HGIYX charges 0.45%/yr vs 0.80%/yr for HCAYX.

Performance

HGIYX vs. HCAYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Core Equity Fund (HGIYX) and The Hartford Capital Appreciation Fund (HCAYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HGIYX having a 5.40% return and HCAYX slightly higher at 5.61%. Over the past 10 years, HGIYX has outperformed HCAYX with an annualized return of 14.49%, while HCAYX has yielded a comparatively lower 12.81% annualized return.

HGIYX

• 1D: -1.21%
• 1M: -1.91%
• YTD: 5.40%
• 6M: 4.26%
• 1Y: 17.14%
• 3Y*: 18.68%
• 5Y*: 10.88%
• 10Y*: 14.49%

HCAYX

• 1D: -1.68%
• 1M: -1.98%
• YTD: 5.61%
• 6M: 4.16%
• 1Y: 16.68%
• 3Y*: 15.20%
• 5Y*: 7.84%
• 10Y*: 12.81%

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

HGIYX vs. HCAYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HGIYX Hartford Core Equity Fund	5.40%	14.67%	25.87%	21.45%	-18.68%	24.53%	18.42%	36.27%	-1.66%	22.11%
HCAYX The Hartford Capital Appreciation Fund	5.61%	10.66%	20.31%	19.24%	-17.64%	15.56%	21.14%	35.95%	-4.83%	21.82%

Correlation

The correlation between HGIYX and HCAYX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 30, 1998	0.92

The correlation between HGIYX and HCAYX has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

Return for Risk

HGIYX vs. HCAYX — Risk / Return Rank

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

HGIYX

HGIYX Risk / Return Rank: 37
HGIYX Sharpe Ratio Rank: 34
HGIYX Sortino Ratio Rank: 32
HGIYX Omega Ratio Rank: 33
HGIYX Calmar Ratio Rank: 35
HGIYX Martin Ratio Rank: 50

HCAYX

HCAYX Risk / Return Rank: 31
HCAYX Sharpe Ratio Rank: 30
HCAYX Sortino Ratio Rank: 28
HCAYX Omega Ratio Rank: 30
HCAYX Calmar Ratio Rank: 29
HCAYX Martin Ratio Rank: 38

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.

HGIYX vs. HCAYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Core Equity Fund (HGIYX) and The Hartford Capital Appreciation Fund (HCAYX). 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.

	HGIYX	HCAYX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.41	+0.11
Sortino ratio: Return per unit of downside risk	2.14	1.96	+0.17
Omega ratio: Gain probability vs. loss probability	1.28	1.26	+0.02
Calmar ratio: Return relative to maximum drawdown	2.07	1.79	+0.27
Martin ratio: Return relative to average drawdown	9.58	7.64	+1.94

HGIYX vs. HCAYX - Sharpe Ratio Comparison

The current HGIYX Sharpe Ratio is 1.52, which is comparable to the HCAYX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of HGIYX and HCAYX, 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

HGIYX vs. HCAYX - Drawdown Comparison

The maximum HGIYX drawdown since its inception was -51.88%, smaller than the maximum HCAYX drawdown of -59.00%. Use the drawdown chart below to compare losses from any high point for HGIYX and HCAYX.

Drawdown Indicators

	HGIYX	HCAYX	Difference
Max Drawdown Largest peak-to-trough decline	-51.88%	-59.00%	+7.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-10.10%	+1.17%
Max Drawdown (3Y) Largest decline over 3 years	-17.10%	-20.15%	+3.05%
Max Drawdown (5Y) Largest decline over 5 years	-24.64%	-26.48%	+1.84%
Max Drawdown (10Y) Largest decline over 10 years	-33.47%	-36.31%	+2.84%
Current Drawdown Current decline from peak	-2.91%	-4.04%	+1.13%
Average Drawdown Average peak-to-trough decline	-10.11%	-10.36%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.37%	-0.45%

Volatility

HGIYX vs. HCAYX - Volatility Comparison

The current volatility for Hartford Core Equity Fund (HGIYX) is 4.72%, while The Hartford Capital Appreciation Fund (HCAYX) has a volatility of 5.06%. This indicates that HGIYX experiences smaller price fluctuations and is considered to be less risky than HCAYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGIYX	HCAYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	5.06%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	9.74%	10.13%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	12.91%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	17.03%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	18.02%	-0.59%

HGIYX vs. HCAYX - Expense Ratio Comparison

HGIYX has a 0.45% expense ratio, which is lower than HCAYX's 0.80% expense ratio.

Dividends

HGIYX vs. HCAYX - Dividend Comparison

HGIYX's dividend yield for the trailing twelve months is around 11.07%, more than HCAYX's 5.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HCAYX The Hartford Capital Appreciation Fund	5.21%	5.50%	7.89%	0.41%	4.97%	13.12%	4.31%	7.95%	16.29%	13.10%	0.73%	8.62%
HGIYX Hartford Core Equity Fund	11.07%	11.67%	8.93%	2.99%	4.02%	3.18%	0.75%	4.39%	5.62%	3.75%	1.62%	2.10%

Frequently Asked Questions

Can I hold both HGIYX and HCAYX in my portfolio?

With a correlation of 0.95, HGIYX and HCAYX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HGIYX or HCAYX?

HCAYX has higher volatility (5.06%) compared to HGIYX (4.72%). In terms of maximum drawdown, HGIYX dropped -51.88% vs HCAYX's -59.00%.

Which has better risk-adjusted returns?

HGIYX currently has the higher Sharpe Ratio (1.52 vs 1.41), 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.