TAXT vs. HMOP
TAXT (Northern Trust Tax-Exempt Bond ETF) and HMOP (Hartford Municipal Opportunities ETF) are both Municipal Bonds funds. TAXT is passively managed, while HMOP is actively managed. A 0.63 correlation means they provide meaningful diversification when combined. TAXT charges 0.05%/yr vs 0.29%/yr for HMOP.
Performance
TAXT vs. HMOP - Performance Comparison
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Returns By Period
In the year-to-date period, TAXT achieves a 1.45% return, which is significantly higher than HMOP's 1.37% return.
TAXT
- 1D
- -0.13%
- 1M
- 0.99%
- YTD
- 1.45%
- 6M
- 1.56%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HMOP
- 1D
- -0.31%
- 1M
- 0.84%
- YTD
- 1.37%
- 6M
- 1.52%
- 1Y
- 5.59%
- 3Y*
- 4.21%
- 5Y*
- 1.32%
- 10Y*
- —
TAXT vs. HMOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXT Northern Trust Tax-Exempt Bond ETF | 1.45% | 3.91% |
HMOP Hartford Municipal Opportunities ETF | 1.37% | 3.75% |
Correlation
The correlation between TAXT and HMOP is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.63 |
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Return for Risk
TAXT vs. HMOP — Risk / Return Rank
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HMOP
TAXT vs. HMOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Trust Tax-Exempt Bond ETF (TAXT) 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.
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.
| TAXT | HMOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.43 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.08 | — |
| Martin ratioReturn relative to average drawdown | — | 6.58 | — |
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Drawdowns
TAXT vs. HMOP - Drawdown Comparison
The maximum TAXT drawdown since its inception was -2.49%, smaller than the maximum HMOP drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for TAXT and HMOP.
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Drawdown Indicators
| TAXT | HMOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.49% | -13.12% | +10.63% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.70% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.81% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.12% | — |
Current DrawdownCurrent decline from peak | -0.62% | -0.94% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -2.46% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.85% | — |
Volatility
TAXT vs. HMOP - Volatility Comparison
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Volatility by Period
| TAXT | HMOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.81% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.86% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 2.65% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.53% | 3.87% | -1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.53% | 4.25% | -1.72% |
TAXT vs. HMOP - Expense Ratio Comparison
TAXT has a 0.05% expense ratio, which is lower than HMOP's 0.29% expense ratio.
Dividends
TAXT vs. HMOP - Dividend Comparison
TAXT's dividend yield for the trailing twelve months is around 2.55%, less than HMOP's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HMOP Hartford Municipal Opportunities ETF | 3.46% | 3.40% | 3.22% | 2.92% | 2.12% | 1.67% | 5.26% | 2.87% | 2.27% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.55% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXT and HMOP have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXT is cheaper with a 0.05% expense ratio, compared with 0.29% for HMOP.
HMOP has the higher dividend yield at 3.46%, compared with 2.55% for TAXT.
They also come from different issuers: Northern Trust and Hartford. Their fees differ too: 0.05% for TAXT and 0.29% for HMOP.
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