Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Hartford Schroders Tax-Aware Bond ETF
$18.04+0.08 (+0.45%)
- 0.39%
- $230M
- −3.0%
- 4.03%
- 0.1M sh
- $17.98
- low $17.77high $19.56
The ETF.net HTAB Grade
C
Score 45 out of 100
- 92 of 117
Score 45 of 100 falls in the C 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.D37 out of 100Rank 68 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.B65 out of 100Rank 94 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F21 out of 100Rank 111 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C43 out of 100Rank 73 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B55 out of 100Rank 62 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B56 out of 100Rank 61 of 117
Our read on HTAB
CMost funds in the aggregate-bond aisle chase yield before taxes. HTAB chases what survives them: its stated goal is after-tax total return from investment-grade bonds, and it is measured against a municipal bond benchmark rather than a taxable aggregate one.
The Fund seeks after-tax total return through a diversified portfolio of fixed-income debt instruments with varying maturities. It normally invests at least 80% of assets in U.S.-dollar-denominated, investment-grade fixed-income debt.
Why people hold it
- The mandate is written around after-tax total return, so the tax bill is part of the job, not an afterthought.
- Benchmarked to the Bloomberg Municipal Bond Index, which sets it apart from the taxable aggregate trackers it shares a shelf with.
- Pays monthly, and spreads the work across roughly 300 positions with at least 80% in US-dollar investment-grade debt.
- Live since 2018, so there is a multi-year operating record behind the strategy.
Worth knowing
- 0.39% a year sits above the category median and well above the 0.03% charged by index giants like BND and SCHZ. The tax-aware management is what you are paying for.
- The after-tax focus only does work where taxes actually bite; inside a tax-sheltered account that edge largely disappears.
- Moderately traded rather than a household-name index fund, so execution costs deserve a look on bigger orders.
HTAB Holdings
- Bonds
- 171
- 31%
- Us Treasury N/B 08/36 4.625
Geography
- United States100.00%
HTAB 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.
HTAB$9,702
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 | HTAB |
|---|---|
| Year to date | −3.5% |
| 1 month | −2.4% |
| 3 months | −5.0% |
| 1 year | −3.0% |
| 3 years | +3.3% |
| 5 years | −0.2% |
| 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 | HTAB |
|---|---|---|
| 2026 YTD | −3.5% | |
| 2025 | +2.9% | |
| 2024 | +1.5% | |
| 2023 | +7.2% | |
| 2022 | −8.3% | |
| 2021 | −0.1% | |
| 2020 | +5.4% |
HTAB in the news
HTAB Dividends
- 4.03%
- $0.72
- $0.07 per share
- Monthly
Distribution history
HTAB Risk
- 7.5%
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.
- −0.16
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.
- −14.1%
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.
- 1.07
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HTAB Cost
0.39%
HTAB0.39%
- The middle half of US Aggregate Bond funds
- Median 0.34%
64 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- CJIIIJanus Henderson Income ETFExpense ratio 0.56%1 year return +1.9%
- CAGGAEA Astoria Dynamic Core US Fixed Income ETFExpense ratio 0.55%1 year return +0.5%
- CSDCPVirtus Newfleet Short Duration Core Plus Bond ETFExpense ratio 0.35%1 year return +2.2%
- CNBTRNeuberger Berman ETF Trust - Neuberger Total Return Bond ETFExpense ratio 0.94%1 year return −1.3%
- CPIFIClearShares Piton Intermediate Fixed Income ETFExpense ratio 0.45%1 year return −0.8%