A Different Approach to Core Bond Investing
Combining investment grade tax-exempt bonds with taxable fixed income may help investors seeking total returns on an after-tax basis.
After-Tax Returns of Fixed Income Indices
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
US Municipals 6.05% |
US Municipals 3.31% |
US Corporates 3.85% |
US Municipals 4.48% |
US Municipals 1.66% |
US Corporates 11.07% |
US Corporates 8.03% |
US Municipals 1.91% |
US Municipals -5.97% |
US Corporates 6.59% |
US Corporates 3.39% |
US Treasuries 0.93% |
US Treasuries 0.42% |
US Corporates 3.36% |
US Treasuries 0.49% |
US Municipals 7.70% |
US Treasuries 7.76% |
US Corporates -2.46% |
US Treasuries -9.95% |
US Municipals 5.78% |
US Treasuries 2.96% |
US Corporates -0.50% |
US Municipals 0.26% |
US Treasuries 0.66% |
US Corporates -2.22% |
US Treasuries 5.89% |
US Municipals 5.63% |
US Treasuries -3.38% |
US Corporates -12.50% |
US Treasuries 3.53% |
Source: Bloomberg and Schroders, through 2023.
Past performance does not guarantee future results.Indices are unmanaged and not available for direct investment.
US Corporates are represented by the Bloomberg US Credit Corporate 5-7 Year Index; US Treasuries are represented by the Bloomberg US Treasury 5-7 Index for 2018-2021 and 2023, the Bloomberg US Treasury 4-7 Year Index from 2014-2017 and the Bloomberg US Treasury 3-7 Year Index for 2022. US Municipals are represented by the Bloomberg Municipal Index 15-year Index for 2021, the Bloomberg Municipal Index 10-year Index for 2019-2020 and 2023, the Bloomberg Municipal Index 7-year Index for 2017-2018, 2014, 2022 and the Bloomberg Municipal Index for 2015-2016. This analysis highlights comparable duration sectors over each period. As the durations of those sectors change, so do the indices used for the analysis. Tax rate used: 43.4% for 2014-2017 and 40.8% for 2018-2023. The tax rates include the net investment income tax. Returns do not reflect state and/or local taxes, nor do they reflect the AMT. Other effective tax rates would have achieved different results. Actual results will vary. Duration between indices within each period is within 0.5 years of one another. Duration is a measure of the sensitivity of an investment’s price to nominal interest-rate movement.
The portfolio managers are supported by the full resources of Schroders.
Performance
SI = Since Inception. Fund Inception: 04/18/2018
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
ETF shares are bought and sold at market price, not net asset value (NAV). Total returns are calculated using the daily 4:00 p.m. Eastern Time NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns an investor would receive if they traded shares at other times. Brokerage commissions apply and will reduce returns.
Characteristics
Yield to Worst (%) | 3.94% |
---|---|
Dividend Frequency | Monthly |
# of Holdings | 298 |
Effective Duration | 8.58 yrs |
US DOLLAR | 9.05 |
US TREASURY N/B 02/44 4.5 | 3.50 |
TREASURY BILL 09/25 0.00000 | 2.08 |
MASSACHUSETTS ST MAS 05/53 FIXED 5 | 2.04 |
JUDSON TX INDEP SCH DIST JUDSCD 02/53 FIXED 5 | 1.75 |
TEXAS ST MUNI GAS ACQUISITION TMGUTL 01/54 ADJUSTABLE VAR | 1.56 |
LAMAR TX CONSOL INDEP SCH DIST LAMSCD 02/53 FIXED 5 | 1.47 |
CAPITAL AREA HSG FIN CORP TX CPAMFH 08/39 ADJUSTABLE VAR | 1.45 |
WAXAHACHIE TX INDEP SCH DIST WAXSCD 02/53 FIXED OID 4 | 1.41 |
HARRIS CNTY TX TOLL ROAD REVEN HARTRN 08/54 FIXED 5.25 | 1.35 |
Total of Top Ten Holdings % | 25.66 |
Ticker | HTAB |
CUSIP | 41653L404 |
IOPV TICKER | HTAB.IV |
Stock Exchange | NYSE Arca |
Close | --- |
Change | --- |
Change % | --- |
Net Asset Value(NAV) | $19.84 |
NAV Change | $-0.01 |
NAV Change % | -0.04% |
Premium/Discount | --- |
30 Day Median Bid/Ask Spread |
--- |
Distribution Yield at NAV | 3.37 |
30-Day SEC Yield | 3.41 |
Unsubsidized 30-Day SEC Yield
|
3.41 |
Tax Exempt Municipal | 87 |
US Treasuries | 10 |
Corporate | 2 |
Cash and Cash Equivalents | 1 |
Taxable Municipal | 0 |
Government Related Agencies | 0 |
Agency Mortgage Backed Securities | 0 |
Cash | 0 |
Asset Backed Securities | 0 |
Mortgage Backed Securities | 0 |
Other | 0 |
Ex-dividend date | record date | payable date | ordinary income | short term capital gains | long term capital gains | total distribution |
---|---|---|---|---|---|---|
9/27/2024 | 9/27/2024 | 10/1/2024 | $0.0500 | $0.0000 | $0.0000 | $0.0500 |
8/29/2024 | 8/29/2024 | 9/3/2024 | $0.0550 | $0.0000 | $0.0000 | $0.0550 |
7/30/2024 | 7/30/2024 | 8/1/2024 | $0.0623 | $0.0000 | $0.0000 | $0.0623 |
6/27/2024 | 6/27/2024 | 7/1/2024 | $0.0548 | $0.0000 | $0.0000 | $0.0548 |
5/30/2024 | 5/30/2024 | 6/3/2024 | $0.0600 | $0.0000 | $0.0000 | $0.0600 |
4/26/2024 | 4/29/2024 | 5/1/2024 | $0.0522 | $0.0000 | $0.0000 | $0.0522 |
3/27/2024 | 3/28/2024 | 4/2/2024 | $0.0529 | $0.0000 | $0.0000 | $0.0529 |
2/27/2024 | 2/28/2024 | 3/1/2024 | $0.0581 | $0.0000 | $0.0000 | $0.0581 |
1/29/2024 | 1/30/2024 | 2/1/2024 | $0.0527 | $0.0000 | $0.0000 | $0.0527 |
12/28/2023 | 12/29/2023 | 1/3/2024 | $0.0584 | $0.0000 | $0.0000 | $0.0584 |
12/15/2023 | 12/18/2023 | 12/20/2023 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
11/28/2023 | 11/29/2023 | 12/1/2023 | $0.0610 | $0.0000 | $0.0000 | $0.0610 |
10/27/2023 | 10/30/2023 | 11/1/2023 | $0.0511 | $0.0000 | $0.0000 | $0.0511 |
Insights
Fund Literature
BLOOMBERG® and any Bloomberg Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by Hartford Funds. Bloomberg is not affiliated with Hartford Funds, and Bloomberg does not approve, endorse, review, or recommend any Hartford Funds product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Hartford Funds products.