MMIT vs. HMOP
MMIT (IQ MacKay Municipal Intermediate ETF) and HMOP (Hartford Municipal Opportunities ETF) are both Municipal Bonds funds. Both are actively managed. Over the past 5 years, MMIT returned 1.11%/yr vs 1.40%/yr for HMOP. A 0.62 correlation means they provide meaningful diversification when combined. MMIT charges 0.31%/yr vs 0.29%/yr for HMOP.
Performance
MMIT vs. HMOP - Performance Comparison
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Returns By Period
In the year-to-date period, MMIT achieves a 1.40% return, which is significantly lower than HMOP's 1.60% return.
MMIT
- 1D
- -0.04%
- 1M
- 0.50%
- YTD
- 1.40%
- 6M
- 1.79%
- 1Y
- 6.45%
- 3Y*
- 3.85%
- 5Y*
- 1.11%
- 10Y*
- —
HMOP
- 1D
- 0.08%
- 1M
- 0.76%
- YTD
- 1.60%
- 6M
- 1.88%
- 1Y
- 6.92%
- 3Y*
- 4.61%
- 5Y*
- 1.40%
- 10Y*
- —
MMIT vs. HMOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMIT IQ MacKay Municipal Intermediate ETF | 1.40% | 5.03% | 1.46% | 5.42% | -7.40% | 1.55% | 6.17% | 7.49% | 2.41% | 0.47% |
HMOP Hartford Municipal Opportunities ETF | 1.60% | 4.70% | 2.52% | 6.83% | -8.37% | 1.80% | 5.52% | 7.77% | 1.59% | 0.05% |
Correlation
The correlation between MMIT and HMOP is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2017 | 0.62 |
The correlation between MMIT and HMOP shifts across timeframes, from 0.55 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MMIT vs. HMOP — Risk / Return Rank
MMIT
HMOP
MMIT vs. HMOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Intermediate ETF (MMIT) and Hartford Municipal Opportunities ETF (HMOP). 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.
| MMIT | HMOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.53 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.57 | -0.07 |
| Martin ratioReturn relative to average drawdown | 8.50 | 8.36 | +0.14 |
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
| MMIT | HMOP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 2.56 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.36 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.64 | -0.02 |
Drawdowns
MMIT vs. HMOP - Drawdown Comparison
The maximum MMIT drawdown since its inception was -12.28%, smaller than the maximum HMOP drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for MMIT and HMOP.
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Drawdown Indicators
| MMIT | HMOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.28% | -13.12% | +0.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -2.70% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -4.81% | +0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -12.28% | -13.12% | +0.84% |
Current DrawdownCurrent decline from peak | -0.77% | -0.71% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -2.47% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.83% | -0.07% |
Volatility
MMIT vs. HMOP - Volatility Comparison
IQ MacKay Municipal Intermediate ETF (MMIT) and Hartford Municipal Opportunities ETF (HMOP) have volatilities of 0.77% and 0.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMIT | HMOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.77% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.66% | 1.78% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 2.71% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.54% | 3.86% | -0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.30% | 4.26% | +0.04% |
MMIT vs. HMOP - Expense Ratio Comparison
MMIT has a 0.31% expense ratio, which is higher than HMOP's 0.29% expense ratio.
Dividends
MMIT vs. HMOP - Dividend Comparison
MMIT's dividend yield for the trailing twelve months is around 3.57%, more than HMOP's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HMOP Hartford Municipal Opportunities ETF | 3.45% | 3.40% | 3.22% | 2.92% | 2.12% | 1.67% | 5.26% | 2.87% | 2.27% | 0.00% |
MMIT IQ MacKay Municipal Intermediate ETF | 3.57% | 3.54% | 3.76% | 3.46% | 2.30% | 1.81% | 2.59% | 4.14% | 2.46% | 0.35% |
Frequently Asked Questions
MMIT and HMOP have a correlation of 0.55, 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 MMIT (0.77%). In terms of maximum drawdown, MMIT dropped -12.28% vs HMOP's -13.12%.
On 5-year performance, HMOP leads with 1.40% vs 1.11% for MMIT. On fees, HMOP is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HMOP has performed better with a 1.40% return vs 1.11%. 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 0.31% for MMIT.
MMIT has the higher dividend yield at 3.57%, compared with 3.45% for HMOP.
They also come from different issuers: New York Life and Hartford. Their fees differ too: 0.31% for MMIT and 0.29% for HMOP.
HMOP currently has the higher Sharpe Ratio (2.56 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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