HMOP vs. FUMB
HMOP (Hartford Municipal Opportunities ETF) and FUMB (First Trust Ultra Short Duration Municipal ETF) are both Municipal Bonds funds. Both are actively managed. Over the past 5 years, HMOP returned 1.40%/yr vs 1.96%/yr for FUMB. At a 0.18 correlation, their price movements are largely independent. HMOP charges 0.29%/yr vs 0.45%/yr for FUMB.
Performance
HMOP vs. FUMB - Performance Comparison
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Returns By Period
In the year-to-date period, HMOP achieves a 1.60% return, which is significantly higher than FUMB's 1.07% return.
HMOP
- 1D
- 0.08%
- 1M
- 0.76%
- YTD
- 1.60%
- 6M
- 1.88%
- 1Y
- 6.92%
- 3Y*
- 4.61%
- 5Y*
- 1.40%
- 10Y*
- —
FUMB
- 1D
- -0.03%
- 1M
- 0.15%
- YTD
- 1.07%
- 6M
- 1.30%
- 1Y
- 2.55%
- 3Y*
- 2.98%
- 5Y*
- 1.96%
- 10Y*
- —
HMOP vs. FUMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HMOP Hartford Municipal Opportunities ETF | 1.60% | 4.70% | 2.52% | 6.83% | -8.37% | 1.80% | 5.52% | 7.77% | 2.57% |
FUMB First Trust Ultra Short Duration Municipal ETF | 1.07% | 2.78% | 3.05% | 2.84% | -0.03% | 0.38% | 1.25% | 1.76% | 0.30% |
Correlation
The correlation between HMOP and FUMB is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | 0.18 |
The correlation between HMOP and FUMB shifts across timeframes, from 0.06 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HMOP vs. FUMB — Risk / Return Rank
HMOP
FUMB
HMOP vs. FUMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hartford Municipal Opportunities ETF (HMOP) and First Trust Ultra Short Duration Municipal ETF (FUMB). 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.
| HMOP | FUMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.76 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 11.70 | -9.13 |
| Martin ratioReturn relative to average drawdown | 8.36 | 44.37 | -36.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HMOP | FUMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 3.38 | -0.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 1.70 | -1.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 1.00 | -0.36 |
Drawdowns
HMOP vs. FUMB - Drawdown Comparison
The maximum HMOP drawdown since its inception was -13.12%, which is greater than FUMB's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for HMOP and FUMB.
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Drawdown Indicators
| HMOP | FUMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -2.68% | -10.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -0.22% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -4.81% | -0.60% | -4.21% |
Max Drawdown (5Y)Largest decline over 5 years | -13.12% | -1.25% | -11.87% |
Current DrawdownCurrent decline from peak | -0.71% | -0.03% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -0.19% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.06% | +0.77% |
Volatility
HMOP vs. FUMB - Volatility Comparison
Hartford Municipal Opportunities ETF (HMOP) has a higher volatility of 0.77% compared to First Trust Ultra Short Duration Municipal ETF (FUMB) at 0.20%. This indicates that HMOP's price experiences larger fluctuations and is considered to be riskier than FUMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMOP | FUMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.20% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 0.53% | +1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 0.76% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.86% | 1.16% | +2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 1.77% | +2.49% |
HMOP vs. FUMB - Expense Ratio Comparison
HMOP has a 0.29% expense ratio, which is lower than FUMB's 0.45% expense ratio.
Dividends
HMOP vs. FUMB - Dividend Comparison
HMOP's dividend yield for the trailing twelve months is around 3.45%, more than FUMB's 2.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 2.80% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
HMOP Hartford Municipal Opportunities ETF | 3.45% | 3.40% | 3.22% | 2.92% | 2.12% | 1.67% | 5.26% | 2.87% | 2.27% |
Frequently Asked Questions
HMOP and FUMB have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HMOP has higher volatility (0.77%) compared to FUMB (0.20%). In terms of maximum drawdown, HMOP dropped -13.12% vs FUMB's -2.68%.
On 5-year performance, FUMB leads with 1.96% vs 1.40% for HMOP. On fees, HMOP is cheaper at 0.29% per year. On volatility, FUMB has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FUMB has performed better with a 1.96% return vs 1.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HMOP is cheaper with a 0.29% expense ratio, compared with 0.45% for FUMB.
HMOP has the higher dividend yield at 3.45%, compared with 2.80% for FUMB.
They also come from different issuers: Hartford and First Trust. Their fees differ too: 0.29% for HMOP and 0.45% for FUMB.
FUMB currently has the higher Sharpe Ratio (3.38 vs 2.56), 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.
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