FMHI vs HMOP
First Trust Municipal High Income ETF vs Hartford Municipal Opportunities ETF
Which is better, FMHI or HMOP?
Each has led over a different period.
HMOP has a lower expense ratio. FMHI led over 3Y and the full window, HMOP over 1Y and 5Y. 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 | FMHI | HMOP |
|---|---|---|
| Expense Ratio | 0.49% | 0.29%Best |
| AUM | $1.1B | $850M |
| Dividend Yield | 4.55% | 3.92% |
| Holdings | 2,277 | 1,276 |
| YTD Return | +1.11%Best | +0.89% |
| 1Y Return | +1.08% | +1.28%Best |
| 3Y Return (annualized) | +5.24%Best | +4.46% |
| 5Y Return (annualized) | +0.27% | +1.26%Best |
| Volatility (annualized) | 7.4% | 5.4%Best |
| Max Drawdown | -18.8% | -13.6%Best |
| $10,000 over 5 years | $10,136 | $10,646Best |
| Fund Family | First Trust Portfolios (US) | Hartford Funds |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Nov 2, 2017 | Dec 13, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 14, 2017 to Nov 11, 2026 (8.9 years).
FMHI vs HMOP 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 8.9 years both funds cover.
FMHI vs HMOP Performance
First Trust Municipal High Income ETF (FMHI) is an ETF from First Trust Portfolios (US) and Hartford Municipal Opportunities ETF (HMOP) is an ETF from Hartford Funds. Over the past year FMHI returned +1.08% while HMOP returned +1.28%. Year to date, FMHI is up 1.11% versus a gain of 0.89% for HMOP.
Over three years, FMHI compounded at +5.24% per year against +4.46% for HMOP; over five years the annualized figures are +0.27% and +1.26% respectively. Across the full 9-year window we track, FMHI has the edge at +1.54% annualized vs +1.31%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMHI has been the more volatile fund, with annualized monthly volatility of 7.4% compared with 5.4% 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 -18.8% for FMHI and -13.6% for HMOP. 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
FMHI charges 0.49% per year while HMOP charges 0.29%. On a $10,000 position that is $49 vs $29 annually, a gap of $20 per year that compounds over a long holding period. On income, FMHI currently yields 4.55% against 3.92% for HMOP.
Holdings Overlap
We hold position weights for 468 holdings in FMHI and 313 in HMOP, totalling 57.6% and 35.0% 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, 25 positions appear in both.
25 positions in common, counted across the 468 positions we hold weights for in FMHI and 313 in HMOP, against full books of 2,277 and 1,276.
Top Shared Holdings
| Stock | Weight in FMHI | Weight in HMOP | Difference |
|---|---|---|---|
| TX TXSUTL 01/01/2055Texas Mun Gas Acquisition & Su 5% Jan 01, 2034 | 0.20% | 0.61% | 0.41% |
| WA WASHSG 5 07/01/20Washington St Hsg Fin Commn Nonprofit Rev 5.0% 01-Jul-2045 | 0.15% | 0.36% | 0.21% |
| MO STLDEV 5 09/01/20Saint Louis Cnty Mo Indl Dev Auth Senior Living Facs | 0.41% | 0.08% | 0.33% |
| GA MAIUTL 05/01/2052Main Street Natural Gas Inc 4.00% 05/01/2052 | 0.10% | 0.36% | 0.26% |
| GA MAIUTL 09/01/2053Main Street Natural Gas Inc Ga Maiutl 09/53 Adjustable Var | 0.38% | 0.06% | 0.32% |
| OH BUCGEN 5 06/01/20Buckeye Tobacco Settlement Financing Auth Oh Ref-Senior-Class 2-Ser B-2 5.000 Jun 01 55 | 0.30% | 0.11% | 0.19% |
| PR PRCGEN 4.33 07/01Puerto Rico Sales Tax Fing Corp Sales Tax Revenue | 0.10% | 0.29% | 0.19% |
| AZ MARDEV 4 10/15/20Maricopa (County Of), Az Industrial Development Authority (Commercial Metals Co.), Series 2022, Rb | 0.32% | 0.02% | 0.30% |
| WI PUBGEN 5.25 11/15Public Fin Auth Wi Revenue Pubgen 11/61 Fixed 5.25 | 0.11% | 0.23% | 0.12% |
| TX AUSAPT 5 11/15/20City Of Austin Airport System Revenue 5 11/15/2032 | 0.19% | 0.13% | 0.06% |
You are not choosing between two funds in isolation.
Whichever of FMHI and HMOP 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, FMHI or HMOP?
FMHI has an expense ratio of 0.49% while HMOP charges 0.29%. HMOP is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, FMHI or HMOP?
Over the past year FMHI returned +1.08% vs +1.28% for HMOP, so HMOP leads on 1-year performance. Over the longest common window we track (9 years), FMHI annualized +1.54% vs +1.31% for HMOP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMHI or HMOP?
FMHI has been the more volatile fund at 7.4% annualized versus 5.4% for HMOP. Worst drawdown: FMHI -18.8% vs HMOP -13.6%.
Should I hold both FMHI and HMOP?
FMHI and HMOP 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, FMHI or HMOP?
FMHI yields 4.55% while HMOP yields 3.92%, so FMHI currently pays the higher dividend yield.
Is HMOP better than FMHI?
HMOP has a lower expense ratio. FMHI led over 3Y and the full window, HMOP over 1Y and 5Y. 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.