HMOP vs MUST
Hartford Municipal Opportunities ETF vs Columbia Multi-Sector Municipal Income ETF
Which is better, HMOP or MUST?
Nearly the same fund. MUST costs less.
MUST has a lower expense ratio. HMOP led over 1Y, 3Y and 5Y, MUST over the full window. The two have moved almost in lockstep, correlation 0.96.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HMOP | MUST |
|---|---|---|
| Expense Ratio | 0.29% | 0.23%Best |
| AUM | $806M | $509M |
| Dividend Yield | 4.03% | 3.59% |
| Holdings | 1,265 | 1,292 |
| YTD Return | -2.38%Best | -4.34% |
| 1Y Return | -1.49%Best | -2.87% |
| 3Y Return (annualized) | +3.89%Best | +2.83% |
| 5Y Return (annualized) | +0.67%Best | -0.37% |
| Volatility (annualized) | 5.5%Best | 6.2% |
| Max Drawdown | -13.6%Best | -13.8% |
| $10,000 over 5 years | $10,340Best | $9,816 |
| Fund Family | Hartford Funds | Columbia Threadneedle Investments |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Dec 13, 2017 | Oct 10, 2018 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 10, 2018 to Oct 14, 2026 (8 years).
HMOP vs MUST growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8 years both funds cover.
HMOP vs MUST Performance
Hartford Municipal Opportunities ETF (HMOP) is an ETF from Hartford Funds and Columbia Multi-Sector Municipal Income ETF (MUST) is an ETF from Columbia Threadneedle Investments. Over the past year HMOP returned -1.49% while MUST returned -2.87%. Year to date, HMOP is down 2.38% versus a loss of 4.34% for MUST.
Over three years, HMOP compounded at +3.89% per year against +2.83% for MUST; over five years the annualized figures are +0.67% and -0.37% respectively. Across the full 8-year window we track, MUST has the edge at +1.36% annualized vs +1.35%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MUST has been the more volatile fund, with annualized monthly volatility of 6.2% compared with 5.5% for HMOP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.6% for HMOP and -13.8% for MUST. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HMOP charges 0.29% per year while MUST charges 0.23%. On a $10,000 position that is $29 vs $23 annually, a gap of $6 per year that compounds over a long holding period. On income, HMOP currently yields 4.03% against 3.59% for MUST.
Holdings Overlap
We hold position weights for 313 holdings in HMOP and 356 in MUST, totalling 35.1% and 52.2% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 23 positions appear in both.
23 positions in common, counted across the 313 positions we hold weights for in HMOP and 356 in MUST, against full books of 1,265 and 1,292.
Top Shared Holdings
| Stock | Weight in HMOP | Weight in MUST | Difference |
|---|---|---|---|
| NM STEFAC 5 05/15/20Santa Fe (city Of), Nm (el Castillo Retirement), Series 2019 A, Rb | 0.45% | 0.11% | 0.34% |
| IL CHIEDU 5.25 12/01Chicago Il Brd Of Edu Regd Oid B/E 5.25000000 | 0.30% | 0.16% | 0.14% |
| IL CHITRN 5 01/01/20Chicago Il O'Hare 5% 01/01/38 | 0.03% | 0.42% | 0.39% |
| TX DALAPT 5 11/01/20Dallas & Fort-C-Ref 5 11/1/2031 5 2031-11-01 | 0.19% | 0.20% | 0.01% |
| AZ PHOAPT 5 07/01/20Phoenix Az Civic Improvement Corp. Airport Revenue | 0.06% | 0.29% | 0.23% |
| CO COSMED 5 12/01/20Colorado St Hlth Facs Auth Rev Cosmed 12/34 Fixed 5 | 0.13% | 0.19% | 0.06% |
| PA PASTRN 5 12/01/20Pennsylvania Turnpike Commission Revenue | 0.18% | 0.10% | 0.08% |
| SC SCSUTL 4 12/01/20South Carolina Public Service Authority 4.0% 12-01-38 | 0.06% | 0.18% | 0.12% |
| WI PUBMED 5 10/01/20Public Fin Auth Wi Hosp Revenue | 0.05% | 0.19% | 0.14% |
| IL CHIWTR 5 11/01/20City Of Chicago Il Waterworks Revenue Agm 5.0% 11-01-37 | 0.07% | 0.16% | 0.09% |
You are not choosing between two funds in isolation.
Whichever of HMOP and MUST you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HMOP or MUST?
HMOP has an expense ratio of 0.29% while MUST charges 0.23%. MUST is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, HMOP or MUST?
Over the past year HMOP returned -1.49% vs -2.87% for MUST, so HMOP leads on 1-year performance. Over the longest common window we track (8 years), HMOP annualized +1.35% vs +1.36% for MUST. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HMOP or MUST?
MUST has been the more volatile fund at 6.2% annualized versus 5.5% for HMOP. Worst drawdown: HMOP -13.6% vs MUST -13.8%.
Should I hold both HMOP and MUST?
HMOP and MUST have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, HMOP or MUST?
HMOP yields 4.03% while MUST yields 3.59%, so HMOP currently pays the higher dividend yield.
Is MUST better than HMOP?
MUST has a lower expense ratio. HMOP led over 1Y, 3Y and 5Y, MUST over the full window. The two have moved almost in lockstep, correlation 0.96. Which one suits a particular account depends on what it is for. This is information, not a recommendation.