HMOP vs PVI
Hartford Municipal Opportunities ETF vs Invesco Floating Rate Municipal Income ETF
Which is better, HMOP or PVI?
Each has led over a different period.
PVI has a lower expense ratio. HMOP led over 3Y, PVI over 1Y, 5Y and the full window.
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 | PVI |
|---|---|---|
| Expense Ratio | 0.29% | 0.25%Best |
| AUM | $806M | $34M |
| Dividend Yield | 4.03% | 2.21% |
| Holdings | 1,265 | 307 |
| YTD Return | -2.38% | +1.76%Best |
| 1Y Return | -1.49% | +2.28%Best |
| 3Y Return (annualized) | +3.89%Best | +2.60% |
| 5Y Return (annualized) | +0.67% | +2.11%Best |
| Volatility (annualized) | 5.3% | 0.6%Best |
| Max Drawdown | -13.6% | -1.2%Best |
| $10,000 over 5 years | $10,340 | $11,100Best |
| Fund Family | Hartford Funds | Invesco (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Dec 13, 2017 | Nov 15, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 14, 2017 to Oct 14, 2026 (8.8 years).
HMOP vs PVI 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 8.8 years both funds cover.
HMOP vs PVI Performance
Hartford Municipal Opportunities ETF (HMOP) is an ETF from Hartford Funds and Invesco Floating Rate Municipal Income ETF (PVI) is an ETF from Invesco (US). Over the past year HMOP returned -1.49% while PVI returned +2.28%. Year to date, HMOP is down 2.38% versus a gain of 1.76% for PVI.
Over three years, HMOP compounded at +3.89% per year against +2.60% for PVI; over five years the annualized figures are +0.67% and +2.11% respectively. Across the full 9-year window we track, PVI has the edge at +1.18% annualized vs +0.94%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HMOP has been the more volatile fund, with annualized monthly volatility of 5.3% compared with 0.6% for PVI. 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 -1.2% for PVI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.15. They move largely independently of each other.
Fees and Cost Over Time
HMOP charges 0.29% per year while PVI charges 0.25%. On a $10,000 position that is $29 vs $25 annually, a gap of $4 per year that compounds over a long holding period. On income, HMOP currently yields 4.03% against 2.21% for PVI.
Holdings Overlap
We hold position weights for 313 holdings in HMOP and 66 in PVI, totalling 35.1% and 53.8% 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, 1 positions appear in both.
1 positions in common, counted across the 313 positions we hold weights for in HMOP and 66 in PVI, against full books of 1,265 and 307.
Top Shared Holdings
| Stock | Weight in HMOP | Weight in PVI | Difference |
|---|---|---|---|
| MA MASTRN 01/01/2039Massachusetts Dept Transn Met 3.2% Jan 01, 2039 | 1.24% | 0.33% | 0.91% |
You are not choosing between two funds in isolation.
Whichever of HMOP and PVI 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 PVI?
HMOP has an expense ratio of 0.29% while PVI charges 0.25%. PVI is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, HMOP or PVI?
Over the past year HMOP returned -1.49% vs +2.28% for PVI, so PVI leads on 1-year performance. Over the longest common window we track (9 years), HMOP annualized +0.94% vs +1.18% for PVI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HMOP or PVI?
HMOP has been the more volatile fund at 5.3% annualized versus 0.6% for PVI. Worst drawdown: HMOP -13.6% vs PVI -1.2%.
Should I hold both HMOP and PVI?
HMOP and PVI have a monthly-return correlation of -0.15, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HMOP or PVI?
HMOP yields 4.03% while PVI yields 2.21%, so HMOP currently pays the higher dividend yield.
Is PVI better than HMOP?
PVI has a lower expense ratio. HMOP led over 3Y, PVI over 1Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.