HMOP vs TAFL
Hartford Municipal Opportunities ETF vs AB Tax-Aware Long Municipal ETF
Which is better, HMOP or TAFL?
HMOP has been ahead.
TAFL has a lower expense ratio. HMOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92.
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 | TAFL |
|---|---|---|
| Expense Ratio | 0.29% | 0.28%Best |
| AUM | $806M | $60M |
| Dividend Yield | 4.03% | 4.37% |
| Holdings | 1,265 | 326 |
| YTD Return | -2.38%Best | -4.38% |
| 1Y Return | -1.49%Best | -3.64% |
| 3Y Return (annualized) | +3.89% | - |
| 5Y Return (annualized) | +0.67% | - |
| Volatility (annualized) | 4.1%Best | 5.5% |
| Max Drawdown | -6.0%Best | -8.1% |
| $10,000 over 2.8 years | $10,628Best | $10,291 |
| Fund Family | Hartford Funds | AllianceBernstein L.P. |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Dec 13, 2017 | Dec 13, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Dec 13, 2023 to Oct 14, 2026 (2.8 years).
HMOP vs TAFL 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 2.8 years both funds cover.
HMOP vs TAFL Performance
Hartford Municipal Opportunities ETF (HMOP) is an ETF from Hartford Funds and AB Tax-Aware Long Municipal ETF (TAFL) is an ETF from AllianceBernstein L.P.. Over the past year HMOP returned -1.49% while TAFL returned -3.64%. Year to date, HMOP is down 2.38% versus a loss of 4.38% for TAFL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAFL has been the more volatile fund, with annualized monthly volatility of 5.5% compared with 4.1% 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 -6.0% for HMOP and -8.1% for TAFL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. 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 TAFL charges 0.28%. On a $10,000 position that is $29 vs $28 annually, a gap of $1 per year that compounds over a long holding period. On income, HMOP currently yields 4.03% against 4.37% for TAFL.
Holdings Overlap
We hold position weights for 313 holdings in HMOP and 68 in TAFL, totalling 35.1% and 50.6% 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, 7 positions appear in both.
7 positions in common, counted across the 313 positions we hold weights for in HMOP and 68 in TAFL, against full books of 1,265 and 326.
Top Shared Holdings
| Stock | Weight in HMOP | Weight in TAFL | Difference |
|---|---|---|---|
| NY NYCGEN 5 05/01/20NEW YORK NY CITY TRANSITIONAL NYCGEN 05/50 FIXED 5 | 0.03% | 1.51% | 1.48% |
| GA MELPWR 5 07/01/20Municipal Elec Auth Ga 5% Jul 01, 2052 | 0.06% | 1.46% | 1.40% |
| PR PRCGEN 5 07/01/20Puerto Rico Sales Tax Financing Corp Sa 5.000 07/01/2058 | 0.07% | 0.70% | 0.63% |
| OH BUCGEN 5 06/01/20Buckeye Tobacco Settlement Financing Auth Oh Ref-Senior-Class 2-Ser B-2 5.000 Jun 01 55 | 0.11% | 0.57% | 0.46% |
| PR PRCGEN 0 07/01/20Puerto Rico Sales Tax Fing Corp Sales Tax Revenue | 0.57% | 0.04% | 0.53% |
| IL CHIEDU 5 12/01/20Chicago Board Of Education Series 2023-A 5.00%, 12/01/34 | 0.06% | 0.22% | 0.16% |
| CA GLDGEN 0 06/01/20Golden St Tobacco Securitizati Regd Zcp Oid B/E 0.00000000 | 0.06% | 0.14% | 0.08% |
You are not choosing between two funds in isolation.
Whichever of HMOP and TAFL 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 TAFL?
HMOP has an expense ratio of 0.29% while TAFL charges 0.28%. TAFL is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, HMOP or TAFL?
Over the past year HMOP returned -1.49% vs -3.64% for TAFL, so HMOP leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HMOP or TAFL?
TAFL has been the more volatile fund at 5.5% annualized versus 4.1% for HMOP. Worst drawdown: HMOP -6.0% vs TAFL -8.1%.
Should I hold both HMOP and TAFL?
HMOP and TAFL have a monthly-return correlation of 0.92, 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 TAFL?
HMOP yields 4.03% while TAFL yields 4.37%, so TAFL currently pays the higher dividend yield.
Is TAFL better than HMOP?
TAFL has a lower expense ratio. HMOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. Which one suits a particular account depends on what it is for. This is information, not a recommendation.