HILYX vs. HMKIX

Last updated Jun 5, 2026

HILYX (Hartford International Value Fund) and HMKIX (Hartford Sustainable Municipal Bond Fund) are both mutual funds - HILYX is a Foreign Large Cap Equities fund managed by Hartford, while HMKIX is a Municipal Bonds fund managed by Hartford. Over the past 10 years, HILYX returned 11.17%/yr vs 2.28%/yr for HMKIX. At a correlation of -0.02, they often move in opposite directions. HILYX charges 0.91%/yr vs 0.46%/yr for HMKIX.

Performance

HILYX vs. HMKIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford International Value Fund (HILYX) 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, HILYX achieves a 11.36% return, which is significantly higher than HMKIX's 1.57% return. Over the past 10 years, HILYX has outperformed HMKIX with an annualized return of 11.17%, while HMKIX has yielded a comparatively lower 2.28% annualized return.

HILYX

• 1D: -0.75%
• 1M: 2.37%
• YTD: 11.36%
• 6M: 14.12%
• 1Y: 30.62%
• 3Y*: 21.34%
• 5Y*: 12.82%
• 10Y*: 11.17%

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)

HILYX vs. HMKIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HILYX Hartford International Value Fund	11.36%	44.76%	0.28%	19.84%	-2.28%	18.79%	-5.94%	18.28%	-17.74%	24.91%
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 HILYX and HMKIX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	-0.02

The correlation between HILYX and HMKIX shifts across timeframes, from -0.02 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HILYX vs. HMKIX — Risk / Return Rank

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

HILYX

HILYX Risk / Return Rank: 55
HILYX Sharpe Ratio Rank: 58
HILYX Sortino Ratio Rank: 55
HILYX Omega Ratio Rank: 57
HILYX Calmar Ratio Rank: 52
HILYX Martin Ratio Rank: 53

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.

HILYX vs. HMKIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford International Value Fund (HILYX) 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.

	HILYX	HMKIX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.82	-0.57
Sortino ratio: Return per unit of downside risk	3.11	4.25	-1.15
Omega ratio: Gain probability vs. loss probability	1.42	1.70	-0.28
Calmar ratio: Return relative to maximum drawdown	2.73	2.52	+0.22
Martin ratio: Return relative to average drawdown	10.65	9.00	+1.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HILYX vs. HMKIX - Sharpe Ratio Comparison

The current HILYX Sharpe Ratio is 2.25, which is comparable to the HMKIX Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of HILYX 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

	HILYX	HMKIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.82	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.16	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.58	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.64	-0.03

Drawdowns

HILYX vs. HMKIX - Drawdown Comparison

The maximum HILYX drawdown since its inception was -48.29%, which is greater than HMKIX's maximum drawdown of -15.36%. Use the drawdown chart below to compare losses from any high point for HILYX and HMKIX.

Drawdown Indicators

	HILYX	HMKIX	Difference
Max Drawdown Largest peak-to-trough decline	-48.29%	-15.36%	-32.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-2.83%	-8.48%
Max Drawdown (3Y) Largest decline over 3 years	-14.04%	-5.74%	-8.30%
Max Drawdown (5Y) Largest decline over 5 years	-25.58%	-15.36%	-10.22%
Max Drawdown (10Y) Largest decline over 10 years	-48.29%	-15.36%	-32.93%
Current Drawdown Current decline from peak	-0.86%	-0.56%	-0.30%
Average Drawdown Average peak-to-trough decline	-8.17%	-3.17%	-5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	0.79%	+2.11%

Volatility

HILYX vs. HMKIX - Volatility Comparison

Hartford International Value Fund (HILYX) has a higher volatility of 3.69% compared to Hartford Sustainable Municipal Bond Fund (HMKIX) at 1.03%. This indicates that HILYX'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

	HILYX	HMKIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	1.03%	+2.66%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	2.03%	+8.99%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	2.54%	+11.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	3.75%	+11.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	3.92%	+13.15%

HILYX vs. HMKIX - Expense Ratio Comparison

HILYX has a 0.91% expense ratio, which is higher than HMKIX's 0.46% expense ratio.

Dividends

HILYX vs. HMKIX - Dividend Comparison

HILYX's dividend yield for the trailing twelve months is around 5.21%, more than HMKIX's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HILYX Hartford International Value Fund	5.21%	5.80%	0.00%	2.67%	2.84%	3.22%	2.08%	3.05%	8.24%	6.97%	5.23%	3.55%
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 HILYX and HMKIX in my portfolio?

HILYX and HMKIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HILYX or HMKIX?

HILYX has higher volatility (3.69%) compared to HMKIX (1.03%). In terms of maximum drawdown, HILYX dropped -48.29% vs HMKIX's -15.36%.

Which has better risk-adjusted returns?

HMKIX currently has the higher Sharpe Ratio (2.82 vs 2.25), 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.