HMOP vs. HCRB

Last updated Jun 4, 2026

HMOP (Hartford Municipal Opportunities ETF) and HCRB (Hartford Core Bond ETF) are both exchange-traded funds - HMOP is a Municipal Bonds fund actively managed by Hartford, while HCRB is a Intermediate Core Bond fund actively managed by Hartford. Both are actively managed. Over the past 5 years, HMOP returned 1.40%/yr vs 0.12%/yr for HCRB. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.29% expense ratio.

Performance

HMOP vs. HCRB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Municipal Opportunities ETF (HMOP) and Hartford Core Bond ETF (HCRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HMOP achieves a 1.60% return, which is significantly higher than HCRB's 0.18% return.

HMOP

• 1D: 0.08%
• 1M: 0.76%
• YTD: 1.60%
• 6M: 1.88%
• 1Y: 6.92%
• 3Y*: 4.61%
• 5Y*: 1.40%
• 10Y*: —

HCRB

• 1D: -0.23%
• 1M: 0.22%
• YTD: 0.18%
• 6M: 0.07%
• 1Y: 5.27%
• 3Y*: 4.42%
• 5Y*: 0.12%
• 10Y*: —

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

HMOP vs. HCRB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HMOP Hartford Municipal Opportunities ETF	1.60%	4.70%	2.52%	6.83%	-8.37%	1.80%	3.39%
HCRB Hartford Core Bond ETF	0.18%	7.06%	2.23%	6.98%	-14.61%	-1.79%	6.78%

Correlation

The correlation between HMOP and HCRB is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Feb 21, 2020	0.57

The correlation between HMOP and HCRB shifts across timeframes, from 0.49 (1 year) to 0.61 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

HMOP vs. HCRB — Risk / Return Rank

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

HMOP

HMOP Risk / Return Rank: 70
HMOP Sharpe Ratio Rank: 79
HMOP Sortino Ratio Rank: 85
HMOP Omega Ratio Rank: 86
HMOP Calmar Ratio Rank: 52
HMOP Martin Ratio Rank: 50

HCRB

HCRB Risk / Return Rank: 38
HCRB Sharpe Ratio Rank: 39
HCRB Sortino Ratio Rank: 40
HCRB Omega Ratio Rank: 37
HCRB Calmar Ratio Rank: 38
HCRB Martin Ratio Rank: 37

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.

HMOP vs. HCRB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Municipal Opportunities ETF (HMOP) and Hartford Core Bond ETF (HCRB). 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	HCRB	Difference
Sharpe ratio: Return per unit of total volatility	2.56	1.39	+1.17
Sortino ratio: Return per unit of downside risk	3.82	2.07	+1.76
Omega ratio: Gain probability vs. loss probability	1.53	1.25	+0.29
Calmar ratio: Return relative to maximum drawdown	2.57	1.88	+0.70
Martin ratio: Return relative to average drawdown	8.36	5.68	+2.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMOP vs. HCRB - Sharpe Ratio Comparison

The current HMOP Sharpe Ratio is 2.56, which is higher than the HCRB Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of HMOP and HCRB, 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

	HMOP	HCRB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.56	1.39	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.02	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.13	+0.51

Drawdowns

HMOP vs. HCRB - Drawdown Comparison

The maximum HMOP drawdown since its inception was -13.12%, smaller than the maximum HCRB drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for HMOP and HCRB.

Drawdown Indicators

	HMOP	HCRB	Difference
Max Drawdown Largest peak-to-trough decline	-13.12%	-19.90%	+6.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-2.82%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-4.81%	-6.18%	+1.37%
Max Drawdown (5Y) Largest decline over 5 years	-13.12%	-19.42%	+6.30%
Current Drawdown Current decline from peak	-0.71%	-1.86%	+1.15%
Average Drawdown Average peak-to-trough decline	-2.47%	-7.02%	+4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.93%	-0.10%

Volatility

HMOP vs. HCRB - Volatility Comparison

The current volatility for Hartford Municipal Opportunities ETF (HMOP) is 0.77%, while Hartford Core Bond ETF (HCRB) has a volatility of 1.30%. This indicates that HMOP experiences smaller price fluctuations and is considered to be less risky than HCRB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMOP	HCRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	1.30%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	1.78%	2.70%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	2.71%	3.81%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.86%	6.13%	-2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.26%	5.96%	-1.70%

HMOP vs. HCRB - Expense Ratio Comparison

Both HMOP and HCRB have an expense ratio of 0.29%.

Dividends

HMOP vs. HCRB - Dividend Comparison

HMOP's dividend yield for the trailing twelve months is around 3.45%, less than HCRB's 4.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HCRB Hartford Core Bond ETF	4.19%	4.12%	4.15%	3.39%	2.18%	1.47%	1.81%	0.00%	0.00%
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

Can I hold both HMOP and HCRB in my portfolio?

HMOP and HCRB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HMOP or HCRB?

HCRB has higher volatility (1.30%) compared to HMOP (0.77%). In terms of maximum drawdown, HMOP dropped -13.12% vs HCRB's -19.90%.

Which ETF is better, HMOP or HCRB?

On 5-year performance, HMOP leads with 1.40% vs 0.12% for HCRB. Both ETFs have the same 0.29% expense ratio. On volatility, HMOP has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HMOP or HCRB?

Over the 5-year period, HMOP has performed better with a 1.40% return vs 0.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HMOP or HCRB?

HMOP and HCRB have the same expense ratio: 0.29% per year.

Which ETF pays a higher dividend yield, HMOP or HCRB?

HCRB has the higher dividend yield at 4.19%, compared with 3.45% for HMOP.

What is the main difference between HMOP and HCRB?

HMOP is categorized as Municipal Bonds, while HCRB is Intermediate Core Bond.

Which has better risk-adjusted returns?

HMOP currently has the higher Sharpe Ratio (2.56 vs 1.39), 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.