HSDAX vs. SPMO

Last updated Jun 23, 2026

HSDAX (Hartford Short Duration Fund) and SPMO (Invesco S&P 500 Momentum ETF) are both funds - HSDAX is a Short-Term Bond fund managed by Hartford, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Over the past 10 years, HSDAX returned 2.57%/yr vs 21.59%/yr for SPMO. At a 0.08 correlation, their price movements are largely independent. HSDAX charges 0.79%/yr vs 0.13%/yr for SPMO.

Performance

HSDAX vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Short Duration Fund (HSDAX) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HSDAX achieves a 0.72% return, which is significantly lower than SPMO's 36.08% return. Over the past 10 years, HSDAX has underperformed SPMO with an annualized return of 2.57%, while SPMO has yielded a comparatively higher 21.59% annualized return.

HSDAX

• 1D: 0.10%
• 1M: 0.27%
• YTD: 0.72%
• 6M: 1.08%
• 1Y: 4.14%
• 3Y*: 5.33%
• 5Y*: 2.46%
• 10Y*: 2.57%

SPMO

• 1D: 1.26%
• 1M: 11.71%
• YTD: 36.08%
• 6M: 35.05%
• 1Y: 52.78%
• 3Y*: 44.69%
• 5Y*: 24.25%
• 10Y*: 21.59%

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

HSDAX vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HSDAX Hartford Short Duration Fund	0.72%	6.10%	5.03%	6.14%	-5.04%	-0.05%	3.80%	6.08%	0.36%	2.18%
SPMO Invesco S&P 500 Momentum ETF	36.08%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between HSDAX and SPMO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.08

The correlation between HSDAX and SPMO shifts across timeframes, from 0.08 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HSDAX vs. SPMO — Risk / Return Rank

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

HSDAX

HSDAX Risk / Return Rank: 81
HSDAX Sharpe Ratio Rank: 67
HSDAX Sortino Ratio Rank: 91
HSDAX Omega Ratio Rank: 87
HSDAX Calmar Ratio Rank: 76
HSDAX Martin Ratio Rank: 84

SPMO

SPMO Risk / Return Rank: 83
SPMO Sharpe Ratio Rank: 85
SPMO Sortino Ratio Rank: 81
SPMO Omega Ratio Rank: 83
SPMO Calmar Ratio Rank: 82
SPMO Martin Ratio Rank: 82

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.

HSDAX vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Short Duration Fund (HSDAX) and Invesco S&P 500 Momentum ETF (SPMO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HSDAX	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.65	-0.46
Sortino ratio: Return per unit of downside risk	4.20	3.46	+0.74
Omega ratio: Gain probability vs. loss probability	1.57	1.48	+0.09
Calmar ratio: Return relative to maximum drawdown	3.24	4.18	-0.94
Martin ratio: Return relative to average drawdown	14.48	15.78	-1.30

HSDAX vs. SPMO - Sharpe Ratio Comparison

The current HSDAX Sharpe Ratio is 2.19, which is comparable to the SPMO Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of HSDAX and SPMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HSDAX vs. SPMO - Drawdown Comparison

The maximum HSDAX drawdown since its inception was -10.19%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for HSDAX and SPMO.

Drawdown Indicators

	HSDAX	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-10.19%	-30.95%	+20.76%
Max Drawdown (1Y) Largest decline over 1 year	-1.32%	-12.70%	+11.38%
Max Drawdown (3Y) Largest decline over 3 years	-1.32%	-20.13%	+18.81%
Max Drawdown (5Y) Largest decline over 5 years	-7.63%	-22.74%	+15.11%
Max Drawdown (10Y) Largest decline over 10 years	-10.19%	-30.95%	+20.76%
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-0.68%	-4.59%	+3.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	3.35%	-3.06%

Volatility

HSDAX vs. SPMO - Volatility Comparison

The current volatility for Hartford Short Duration Fund (HSDAX) is 0.70%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.55%. This indicates that HSDAX experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSDAX	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	10.55%	-9.85%
Volatility (6M) Calculated over the trailing 6-month period	1.52%	17.11%	-15.59%
Volatility (1Y) Calculated over the trailing 1-year period	1.94%	20.05%	-18.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.21%	19.77%	-17.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.27%	20.55%	-18.28%

HSDAX vs. SPMO - Expense Ratio Comparison

HSDAX has a 0.79% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

HSDAX vs. SPMO - Dividend Comparison

HSDAX's dividend yield for the trailing twelve months is around 4.39%, more than SPMO's 0.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HSDAX Hartford Short Duration Fund	4.39%	4.26%	3.43%	2.71%	2.03%	1.36%	2.08%	2.60%	2.55%	2.27%	1.74%	1.67%
SPMO Invesco S&P 500 Momentum ETF	0.78%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

Frequently Asked Questions

Can I hold both HSDAX and SPMO in my portfolio?

HSDAX and SPMO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HSDAX or SPMO?

SPMO has higher volatility (10.55%) compared to HSDAX (0.70%). In terms of maximum drawdown, HSDAX dropped -10.19% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.65 vs 2.19), 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.