HMOP vs TAFM
Hartford Municipal Opportunities ETF vs AB Tax-Aware Intermediate Municipal ETF
Which is better, HMOP or TAFM?
Nearly the same fund. TAFM costs less.
TAFM has a lower expense ratio. HMOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97.
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 | TAFM |
|---|---|---|
| Expense Ratio | 0.29% | 0.28%Best |
| AUM | $806M | $1.0B |
| Dividend Yield | 4.03% | 3.85% |
| Holdings | 1,265 | 1,404 |
| YTD Return | -2.38%Best | -3.22% |
| 1Y Return | -1.49%Best | -2.29% |
| 3Y Return (annualized) | +3.89% | - |
| 5Y Return (annualized) | +0.67% | - |
| Volatility (annualized) | 4.1%Best | 4.5% |
| Max Drawdown | -6.0%Best | -6.6% |
| $10,000 over 2.8 years | $10,628Best | $10,504 |
| 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 TAFM 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 TAFM Performance
Hartford Municipal Opportunities ETF (HMOP) is an ETF from Hartford Funds and AB Tax-Aware Intermediate Municipal ETF (TAFM) is an ETF from AllianceBernstein L.P.. Over the past year HMOP returned -1.49% while TAFM returned -2.29%. Year to date, HMOP is down 2.38% versus a loss of 3.22% for TAFM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAFM has been the more volatile fund, with annualized monthly volatility of 4.5% 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 -6.6% for TAFM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. 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 TAFM 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 3.85% for TAFM.
Holdings Overlap
We hold position weights for 313 holdings in HMOP and 234 in TAFM, totalling 35.1% and 28.8% 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, 27 positions appear in both.
27 positions in common, counted across the 313 positions we hold weights for in HMOP and 234 in TAFM, against full books of 1,265 and 1,404.
Top Shared Holdings
| Stock | Weight in HMOP | Weight in TAFM | Difference |
|---|---|---|---|
| WI PUBTRN 6.5 06/30/Public Fin Auth Wi Toll Revenu Pubtrn 06/60 Fixed 6.5 | 0.21% | 0.59% | 0.38% |
| PR PRCGEN 0 07/01/20Prcgen 0.000 07/01/29 | 0.57% | 0.11% | 0.46% |
| AL BBEUTL 10/01/2055Black Belt Energy Gas District 5 10/01/2055 | 0.15% | 0.34% | 0.19% |
| GA MAIUTL 12/01/2054Main Street Natural Gas Inc Ga Maiutl 12/54 Adjustable Var | 0.23% | 0.25% | 0.02% |
| 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% | 0.26% | 0.15% |
| NY NYTTRN 6 06/30/20New York St Transprtn Dev Corp Nyttrn 06/54 Fixed 6 | 0.11% | 0.25% | 0.14% |
| WA PTSGEN 5.25 07/01Pq Performance Chemicals (Sparta Holdings, L.P.), First Lien Term Loan 8.59255% 08/02/2030 | 0.20% | 0.16% | 0.04% |
| PR PRCGEN 5 07/01/20Puerto Rico Sales Tax Financing Corp Sa 5.000 07/01/2058 | 0.07% | 0.28% | 0.21% |
| GA MELPWR 5 07/01/20Municipal Elec Auth Ga 5% Jul 01, 2052 | 0.06% | 0.23% | 0.17% |
| VA VASDEV 5 07/01/20Virginia Small 5% 07/38 | 0.10% | 0.18% | 0.08% |
You are not choosing between two funds in isolation.
Whichever of HMOP and TAFM 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 TAFM?
HMOP has an expense ratio of 0.29% while TAFM charges 0.28%. TAFM is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, HMOP or TAFM?
Over the past year HMOP returned -1.49% vs -2.29% for TAFM, 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 TAFM?
TAFM has been the more volatile fund at 4.5% annualized versus 4.1% for HMOP. Worst drawdown: HMOP -6.0% vs TAFM -6.6%.
Should I hold both HMOP and TAFM?
HMOP and TAFM have a monthly-return correlation of 0.97, 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 TAFM?
HMOP yields 4.03% while TAFM yields 3.85%, so HMOP currently pays the higher dividend yield.
Is TAFM better than HMOP?
TAFM has a lower expense ratio. HMOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.