Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Hartford Municipal Opportunities ETF
$37.26+0.23 (+0.62%)
- 0.29%
- $784M
- −1.6%
- 3.70%
- 0.2M sh
- $37.02
- low $36.57high $39.91
The ETF.net HMOP Grade
B
Score 69 out of 100
- 17 of 63
Score 69 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B61 out of 100Rank 22 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A81 out of 100Rank 42 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B62 out of 100Rank 9 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A72 out of 100Rank 12 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A77 out of 100Rank 14 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B64 out of 100Rank 25 of 63
Our read on HMOP
BMost muni ETFs buy the index and call it a day. HMOP hands the keys to Wellington: an active muni portfolio that can hold up to 35% high yield paper, roam any maturity, and pay federally tax-exempt income monthly.
The fund seeks current income generally exempt from federal income tax together with long-term total return.
Why people hold it
- Actively run by sub-adviser Wellington, with room for up to 35% in below-investment-grade munis and bonds of any maturity, corners index trackers cannot reach.sec.gov
- Monthly income that is generally exempt from federal tax, spread across roughly 500 holdings and diversified over states and sectors.sec.gov
- At 0.29%, it charges about what the typical muni ETF does, unusual for a fund with a live manager picking the bonds.
- Trading since 2017 and sitting in the upper half of a crowded muni ETF field.
Worth knowing
- Index heavyweights VTEB (0.03%) and MUB (0.05%) cost a fraction of this. The premium buys active judgment, not index tracking.
- High yield munis and any-maturity latitude mean credit and rate exposure shift with the manager's view, not a fixed benchmark.sec.gov
- Some of the income can be subject to the Alternative Minimum Tax.sec.gov
HMOP Holdings
- Bonds
- 640
- 13%
- Us Dollar
Geography
- United States100.00%
HMOP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
HMOP$9,843
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HMOP |
|---|---|
| Year to date | −2.8% |
| 1 month | −1.7% |
| 3 months | −4.4% |
| 1 year | −1.6% |
| 3 years | +3.7% |
| 5 years | +0.6% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HMOP |
|---|---|---|
| 2026 YTD | −2.8% | |
| 2025 | +4.7% | |
| 2024 | +2.5% | |
| 2023 | +6.8% | |
| 2022 | −8.4% | |
| 2021 | +1.8% | |
| 2020 | +5.5% |
HMOP in the news
HMOP Dividends
- 3.70%
- $1.37
- $0.12 per share
- Monthly
Distribution history
HMOP Risk
- 5.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.19
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −12.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.83
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HMOP Cost
0.29%
HMOP0.29%
- The middle half of Other Municipal Bond funds
- Median 0.30%
26 of the 63 Other Municipal Bond funds charge less.
Other funds in Other Municipal Bond
- AFMUNFidelity Systematic Municipal Bond Index ETFExpense ratio 0.05%1 year return −2.6%
- APZAInvesco National AMT-Free Municipal Bond ETFExpense ratio 0.28%1 year return −4.7%
- BAVMUAvantis Core Municipal Fixed Income ETFExpense ratio 0.15%1 year return −2.5%
- BDFCADimensional - California Municipal Bond ETFExpense ratio 0.19%1 year return −1.6%
- BFMBFirst Trust Managed Municipal ETFExpense ratio 0.39%1 year return −2.2%