HGIYX vs. HMKIX

Last updated Jun 5, 2026

HGIYX (Hartford Core Equity Fund) and HMKIX (Hartford Sustainable Municipal Bond Fund) are both mutual funds - HGIYX is a Large Cap Blend Equities fund managed by Hartford, while HMKIX is a Municipal Bonds fund managed by Hartford. Over the past 10 years, HGIYX returned 14.39%/yr vs 2.28%/yr for HMKIX. At a 0.02 correlation, their price movements are largely independent. HGIYX charges 0.45%/yr vs 0.46%/yr for HMKIX.

Performance

HGIYX vs. HMKIX - Performance Comparison

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

Returns By Period

In the year-to-date period, HGIYX achieves a 7.90% return, which is significantly higher than HMKIX's 1.57% return. Over the past 10 years, HGIYX has outperformed HMKIX with an annualized return of 14.39%, while HMKIX has yielded a comparatively lower 2.28% annualized return.

HGIYX

• 1D: -0.60%
• 1M: 2.77%
• YTD: 7.90%
• 6M: 7.61%
• 1Y: 21.87%
• 3Y*: 20.03%
• 5Y*: 11.58%
• 10Y*: 14.39%

HMKIX

• 1D: 0.00%
• 1M: 0.57%
• YTD: 1.57%
• 6M: 2.05%
• 1Y: 6.89%
• 3Y*: 3.95%
• 5Y*: 0.60%
• 10Y*: 2.28%

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

HGIYX vs. HMKIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HGIYX Hartford Core Equity Fund	7.90%	14.67%	25.87%	21.45%	-18.68%	24.53%	18.42%	36.27%	-1.66%	22.11%
HMKIX Hartford Sustainable Municipal Bond Fund	1.57%	4.22%	2.36%	5.77%	-10.66%	1.90%	5.18%	8.61%	1.40%	6.53%

Correlation

The correlation between HGIYX and HMKIX 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 (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.11
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

The correlation between HGIYX and HMKIX shifts across timeframes, from 0.02 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HGIYX vs. HMKIX — Risk / Return Rank

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

HGIYX

HGIYX Risk / Return Rank: 46
HGIYX Sharpe Ratio Rank: 44
HGIYX Sortino Ratio Rank: 42
HGIYX Omega Ratio Rank: 43
HGIYX Calmar Ratio Rank: 43
HGIYX Martin Ratio Rank: 60

HMKIX

HMKIX Risk / Return Rank: 72
HMKIX Sharpe Ratio Rank: 87
HMKIX Sortino Ratio Rank: 88
HMKIX Omega Ratio Rank: 92
HMKIX Calmar Ratio Rank: 46
HMKIX Martin Ratio Rank: 44

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. HMKIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Core Equity Fund (HGIYX) and Hartford Sustainable Municipal Bond Fund (HMKIX). 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.

	HGIYX	HMKIX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.82	-0.89
Sortino ratio: Return per unit of downside risk	2.70	4.25	-1.55
Omega ratio: Gain probability vs. loss probability	1.35	1.70	-0.35
Calmar ratio: Return relative to maximum drawdown	2.47	2.52	-0.05
Martin ratio: Return relative to average drawdown	11.84	9.00	+2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HGIYX vs. HMKIX - Sharpe Ratio Comparison

The current HGIYX Sharpe Ratio is 1.93, which is lower than the HMKIX Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of HGIYX and HMKIX, 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

	HGIYX	HMKIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.82	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.16	+0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.58	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.64	-0.15

Drawdowns

HGIYX vs. HMKIX - Drawdown Comparison

The maximum HGIYX drawdown since its inception was -51.88%, which is greater than HMKIX's maximum drawdown of -15.36%. Use the drawdown chart below to compare losses from any high point for HGIYX and HMKIX.

Drawdown Indicators

	HGIYX	HMKIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.88%	-15.36%	-36.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-2.83%	-6.10%
Max Drawdown (3Y) Largest decline over 3 years	-17.10%	-5.74%	-11.36%
Max Drawdown (5Y) Largest decline over 5 years	-24.64%	-15.36%	-9.28%
Max Drawdown (10Y) Largest decline over 10 years	-33.47%	-15.36%	-18.11%
Current Drawdown Current decline from peak	-0.60%	-0.56%	-0.04%
Average Drawdown Average peak-to-trough decline	-10.13%	-3.17%	-6.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	0.79%	+1.07%

Volatility

HGIYX vs. HMKIX - Volatility Comparison

Hartford Core Equity Fund (HGIYX) has a higher volatility of 2.77% compared to Hartford Sustainable Municipal Bond Fund (HMKIX) at 1.03%. This indicates that HGIYX's price experiences larger fluctuations and is considered to be riskier than HMKIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGIYX	HMKIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	1.03%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	8.83%	2.03%	+6.80%
Volatility (1Y) Calculated over the trailing 1-year period	11.46%	2.54%	+8.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	3.75%	+12.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.41%	3.92%	+13.49%

HGIYX vs. HMKIX - Expense Ratio Comparison

HGIYX has a 0.45% expense ratio, which is lower than HMKIX's 0.46% expense ratio.

Dividends

HGIYX vs. HMKIX - Dividend Comparison

HGIYX's dividend yield for the trailing twelve months is around 10.82%, more than HMKIX's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HGIYX Hartford Core Equity Fund	10.82%	11.67%	8.93%	2.99%	4.02%	3.18%	0.75%	4.39%	5.62%	3.75%	1.62%	2.10%
HMKIX Hartford Sustainable Municipal Bond Fund	3.20%	3.09%	2.64%	1.99%	2.14%	1.88%	1.96%	3.24%	2.94%	2.65%	2.42%	0.00%

Frequently Asked Questions

Can I hold both HGIYX and HMKIX in my portfolio?

HGIYX and HMKIX 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, HGIYX or HMKIX?

HGIYX has higher volatility (2.77%) compared to HMKIX (1.03%). In terms of maximum drawdown, HGIYX dropped -51.88% vs HMKIX's -15.36%.

Which has better risk-adjusted returns?

HMKIX currently has the higher Sharpe Ratio (2.82 vs 1.93), 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.