VMAX vs. HFSI

Last updated Jun 4, 2026

VMAX (Hartford US Value ETF) and HFSI (Hartford Strategic Income ETF) are both exchange-traded funds - VMAX is a Large Cap Value Equities fund actively managed by Hartford, while HFSI is a Multisector Bonds fund actively managed by Hartford. Both are actively managed. Over the past year, VMAX returned 27.28% vs 8.47% for HFSI. At a 0.30 correlation, their price movements are largely independent. VMAX charges 0.29%/yr vs 0.49%/yr for HFSI.

Performance

VMAX vs. HFSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford US Value ETF (VMAX) and Hartford Strategic Income ETF (HFSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMAX achieves a 12.22% return, which is significantly higher than HFSI's 1.38% return.

VMAX

• 1D: -0.50%
• 1M: 2.11%
• YTD: 12.22%
• 6M: 13.50%
• 1Y: 27.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFSI

• 1D: -0.20%
• 1M: 0.87%
• YTD: 1.38%
• 6M: 1.51%
• 1Y: 8.47%
• 3Y*: 8.37%
• 5Y*: —
• 10Y*: —

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

VMAX vs. HFSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VMAX Hartford US Value ETF	12.22%	15.65%	15.89%	6.98%
HFSI Hartford Strategic Income ETF	1.38%	9.56%	7.91%	2.81%

Correlation

The correlation between VMAX and HFSI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.30

Return for Risk

VMAX vs. HFSI — Risk / Return Rank

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

VMAX

VMAX Risk / Return Rank: 75
VMAX Sharpe Ratio Rank: 67
VMAX Sortino Ratio Rank: 67
VMAX Omega Ratio Rank: 65
VMAX Calmar Ratio Rank: 90
VMAX Martin Ratio Rank: 88

HFSI

HFSI Risk / Return Rank: 68
HFSI Sharpe Ratio Rank: 71
HFSI Sortino Ratio Rank: 78
HFSI Omega Ratio Rank: 76
HFSI Calmar Ratio Rank: 55
HFSI Martin Ratio Rank: 61

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.

VMAX vs. HFSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford US Value ETF (VMAX) and Hartford Strategic Income ETF (HFSI). 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.

	VMAX	HFSI	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.37	-0.13
Sortino ratio: Return per unit of downside risk	3.07	3.57	-0.49
Omega ratio: Gain probability vs. loss probability	1.39	1.46	-0.07
Calmar ratio: Return relative to maximum drawdown	5.56	2.78	+2.78
Martin ratio: Return relative to average drawdown	19.55	11.13	+8.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMAX vs. HFSI - Sharpe Ratio Comparison

The current VMAX Sharpe Ratio is 2.25, which is comparable to the HFSI Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of VMAX and HFSI, 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

	VMAX	HFSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.37	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.55	+0.83

Drawdowns

VMAX vs. HFSI - Drawdown Comparison

The maximum VMAX drawdown since its inception was -19.05%, roughly equal to the maximum HFSI drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for VMAX and HFSI.

Drawdown Indicators

	VMAX	HFSI	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-19.34%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	-3.06%	-1.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.11%	—
Current Drawdown Current decline from peak	-0.50%	-0.20%	-0.30%
Average Drawdown Average peak-to-trough decline	-2.57%	-5.72%	+3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	0.76%	+0.64%

Volatility

VMAX vs. HFSI - Volatility Comparison

Hartford US Value ETF (VMAX) has a higher volatility of 2.55% compared to Hartford Strategic Income ETF (HFSI) at 1.13%. This indicates that VMAX's price experiences larger fluctuations and is considered to be riskier than HFSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMAX	HFSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	1.13%	+1.42%
Volatility (6M) Calculated over the trailing 6-month period	8.71%	2.52%	+6.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	3.58%	+8.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	4.97%	+10.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	4.97%	+10.48%

VMAX vs. HFSI - Expense Ratio Comparison

VMAX has a 0.29% expense ratio, which is lower than HFSI's 0.49% expense ratio.

Dividends

VMAX vs. HFSI - Dividend Comparison

VMAX's dividend yield for the trailing twelve months is around 1.91%, less than HFSI's 5.54% yield.

Position	TTM	2025	2024	2023	2022	2021
HFSI Hartford Strategic Income ETF	5.54%	5.67%	6.51%	5.77%	4.87%	0.71%
VMAX Hartford US Value ETF	1.91%	2.14%	1.95%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VMAX and HFSI in my portfolio?

VMAX and HFSI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMAX or HFSI?

VMAX has higher volatility (2.55%) compared to HFSI (1.13%). In terms of maximum drawdown, VMAX dropped -19.05% vs HFSI's -19.34%.

Which ETF is better, VMAX or HFSI?

On 1-year performance, VMAX leads with 27.28% vs 8.47% for HFSI. On fees, VMAX is cheaper at 0.29% per year. On volatility, HFSI has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VMAX or HFSI?

Over the 1-year period, VMAX has performed better with a 27.28% return vs 8.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VMAX or HFSI?

VMAX is cheaper with a 0.29% expense ratio, compared with 0.49% for HFSI.

Which ETF pays a higher dividend yield, VMAX or HFSI?

HFSI has the higher dividend yield at 5.54%, compared with 1.91% for VMAX.

What is the main difference between VMAX and HFSI?

VMAX is categorized as Large Cap Value Equities, while HFSI is Multisector Bonds. Their fees differ too: 0.29% for VMAX and 0.49% for HFSI.

Which has better risk-adjusted returns?

HFSI currently has the higher Sharpe Ratio (2.37 vs 2.25), 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.