HHMIX vs. HFLYX

Last updated Jun 5, 2026

HHMIX (Hartford Municipal Opportunities Fund) and HFLYX (Hartford Floating Rate Fund) are both mutual funds - HHMIX is a Municipal Bonds fund managed by Hartford, while HFLYX is a Bank Loan fund managed by Hartford. Over the past 10 years, HHMIX returned 2.36%/yr vs 4.32%/yr for HFLYX. At a 0.18 correlation, their price movements are largely independent. HHMIX charges 0.44%/yr vs 0.74%/yr for HFLYX.

Performance

HHMIX vs. HFLYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Municipal Opportunities Fund (HHMIX) and Hartford Floating Rate Fund (HFLYX). 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 HHMIX having a 1.34% return and HFLYX slightly higher at 1.38%. Over the past 10 years, HHMIX has underperformed HFLYX with an annualized return of 2.36%, while HFLYX has yielded a comparatively higher 4.32% annualized return.

HHMIX

• 1D: -0.12%
• 1M: 0.53%
• YTD: 1.34%
• 6M: 1.75%
• 1Y: 6.01%
• 3Y*: 4.28%
• 5Y*: 1.16%
• 10Y*: 2.36%

HFLYX

• 1D: 0.00%
• 1M: 0.51%
• YTD: 1.38%
• 6M: 2.11%
• 1Y: 4.50%
• 3Y*: 6.26%
• 5Y*: 4.01%
• 10Y*: 4.32%

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

HHMIX vs. HFLYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HHMIX Hartford Municipal Opportunities Fund	1.34%	5.70%	2.14%	5.92%	-8.97%	1.73%	4.66%	7.89%	1.35%	5.74%
HFLYX Hartford Floating Rate Fund	1.38%	4.79%	6.50%	9.79%	-3.40%	4.02%	1.32%	8.56%	-0.62%	4.94%

Correlation

The correlation between HHMIX and HFLYX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007	0.18

The correlation between HHMIX and HFLYX shifts across timeframes, from 0.18 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HHMIX vs. HFLYX — Risk / Return Rank

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

HHMIX

HHMIX Risk / Return Rank: 66
HHMIX Sharpe Ratio Rank: 81
HHMIX Sortino Ratio Rank: 88
HHMIX Omega Ratio Rank: 93
HHMIX Calmar Ratio Rank: 36
HHMIX Martin Ratio Rank: 33

HFLYX

HFLYX Risk / Return Rank: 50
HFLYX Sharpe Ratio Rank: 35
HFLYX Sortino Ratio Rank: 72
HFLYX Omega Ratio Rank: 73
HFLYX Calmar Ratio Rank: 40
HFLYX Martin Ratio Rank: 33

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.

HHMIX vs. HFLYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Municipal Opportunities Fund (HHMIX) and Hartford Floating Rate Fund (HFLYX). 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.

	HHMIX	HFLYX	Difference
Sharpe ratio: Return per unit of total volatility	2.65	1.65	+1.00
Sortino ratio: Return per unit of downside risk	4.26	3.46	+0.80
Omega ratio: Gain probability vs. loss probability	1.71	1.47	+0.24
Calmar ratio: Return relative to maximum drawdown	2.24	2.31	-0.07
Martin ratio: Return relative to average drawdown	7.32	7.15	+0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HHMIX vs. HFLYX - Sharpe Ratio Comparison

The current HHMIX Sharpe Ratio is 2.65, which is higher than the HFLYX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of HHMIX and HFLYX, 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

	HHMIX	HFLYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	1.65	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	1.35	-1.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	1.06	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	1.10	-0.40

Drawdowns

HHMIX vs. HFLYX - Drawdown Comparison

The maximum HHMIX drawdown since its inception was -30.49%, smaller than the maximum HFLYX drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for HHMIX and HFLYX.

Drawdown Indicators

	HHMIX	HFLYX	Difference
Max Drawdown Largest peak-to-trough decline	-30.49%	-33.12%	+2.63%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-1.95%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-4.61%	-3.42%	-1.19%
Max Drawdown (5Y) Largest decline over 5 years	-13.76%	-7.48%	-6.28%
Max Drawdown (10Y) Largest decline over 10 years	-13.76%	-22.42%	+8.66%
Current Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-3.88%	-2.06%	-1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.63%	+0.23%

Volatility

HHMIX vs. HFLYX - Volatility Comparison

Hartford Municipal Opportunities Fund (HHMIX) has a higher volatility of 0.97% compared to Hartford Floating Rate Fund (HFLYX) at 0.77%. This indicates that HHMIX's price experiences larger fluctuations and is considered to be riskier than HFLYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HHMIX	HFLYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	0.77%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	1.92%	2.08%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	2.38%	2.74%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.33%	2.99%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.57%	4.09%	-0.52%

HHMIX vs. HFLYX - Expense Ratio Comparison

HHMIX has a 0.44% expense ratio, which is lower than HFLYX's 0.74% expense ratio.

Dividends

HHMIX vs. HFLYX - Dividend Comparison

HHMIX's dividend yield for the trailing twelve months is around 3.41%, less than HFLYX's 7.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFLYX Hartford Floating Rate Fund	7.69%	7.23%	6.68%	7.20%	5.18%	3.22%	3.68%	4.68%	6.17%	4.23%	4.34%	4.72%
HHMIX Hartford Municipal Opportunities Fund	3.41%	4.40%	2.72%	2.41%	2.28%	1.72%	2.17%	2.83%	2.86%	2.98%	2.77%	3.04%

Frequently Asked Questions

Can I hold both HHMIX and HFLYX in my portfolio?

HHMIX and HFLYX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HHMIX or HFLYX?

HHMIX has higher volatility (0.97%) compared to HFLYX (0.77%). In terms of maximum drawdown, HHMIX dropped -30.49% vs HFLYX's -33.12%.

Which has better risk-adjusted returns?

HHMIX currently has the higher Sharpe Ratio (2.65 vs 1.65), 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.