HMOP vs. MMIT
Compare and contrast key facts about Hartford Municipal Opportunities ETF (HMOP) and IQ MacKay Municipal Intermediate ETF (MMIT).
HMOP and MMIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HMOP is an actively managed fund by The Hartford. It was launched on Dec 13, 2017. MMIT is an actively managed fund by New York Life. It was launched on Oct 18, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HMOP or MMIT.
Correlation
The correlation between HMOP and MMIT is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HMOP vs. MMIT - Performance Comparison
Key characteristics
HMOP:
1.02
MMIT:
1.03
HMOP:
1.46
MMIT:
1.47
HMOP:
1.18
MMIT:
1.19
HMOP:
1.09
MMIT:
0.87
HMOP:
4.25
MMIT:
4.22
HMOP:
0.86%
MMIT:
0.82%
HMOP:
3.61%
MMIT:
3.37%
HMOP:
-13.12%
MMIT:
-12.28%
HMOP:
-0.63%
MMIT:
-0.55%
Returns By Period
In the year-to-date period, HMOP achieves a 0.99% return, which is significantly lower than MMIT's 1.31% return.
HMOP
0.99%
-0.04%
0.28%
3.72%
2.36%
N/A
MMIT
1.31%
-0.27%
0.22%
3.30%
2.10%
N/A
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HMOP vs. MMIT - Expense Ratio Comparison
HMOP has a 0.29% expense ratio, which is lower than MMIT's 0.31% expense ratio.
Risk-Adjusted Performance
HMOP vs. MMIT — Risk-Adjusted Performance Rank
HMOP
MMIT
HMOP vs. MMIT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Hartford Municipal Opportunities ETF (HMOP) and IQ MacKay Municipal Intermediate ETF (MMIT). 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.
Dividends
HMOP vs. MMIT - Dividend Comparison
HMOP's dividend yield for the trailing twelve months is around 3.26%, less than MMIT's 3.67% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
HMOP Hartford Municipal Opportunities ETF | 3.26% | 3.22% | 2.92% | 2.12% | 1.67% | 5.26% | 2.87% | 2.27% | 0.00% |
MMIT IQ MacKay Municipal Intermediate ETF | 3.67% | 3.76% | 3.46% | 2.30% | 1.81% | 2.59% | 4.14% | 2.46% | 0.00% |
Drawdowns
HMOP vs. MMIT - Drawdown Comparison
The maximum HMOP drawdown since its inception was -13.12%, which is greater than MMIT's maximum drawdown of -12.28%. Use the drawdown chart below to compare losses from any high point for HMOP and MMIT. For additional features, visit the drawdowns tool.
Volatility
HMOP vs. MMIT - Volatility Comparison
Hartford Municipal Opportunities ETF (HMOP) has a higher volatility of 1.23% compared to IQ MacKay Municipal Intermediate ETF (MMIT) at 1.04%. This indicates that HMOP's price experiences larger fluctuations and is considered to be riskier than MMIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.