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Hartford Municipal Income Fund

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Objective

Seeks to provide a high level of current income that is generally exempt from federal income taxes and long-term total return.

Overview

A municipal bond fund that seeks to provide income that is typically exempt from federal income taxes.

More About Municipal Income Fund 

Performance

Performance (%)
% (as of 8/31/2020)
Average Annual Total Returns % (as of 8/31/2020)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Income  I 2.92 2.87 4.44 4.42 --- 4.25
Benchmark 3.31 3.24 4.09 3.99 --- ---
Morningstar Muni National Intermediate Category 2.57 2.36 3.34 3.27 --- ---
Performance (%)
% (as of 6/30/2020)
Average Annual Total Returns % (as of 6/30/2020)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Income  I 1.38 3.98 4.50 4.29 --- 4.09
Benchmark 2.08 4.45 4.22 3.93 --- ---
Morningstar Muni National Intermediate Category 1.17 3.13 3.35 3.14 --- ---
SI = Since Inception. Fund Inception: 05/29/2015
Operating Expenses:   Net  0.47% |  Gross  0.75%

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.

I-Share Morningstar Ratings
(as of 8/31/2020)
  • Overall
    infoIcon:
    Overall, 5 stars, 3-Year, 5 stars, and 5-Year, 5 stars, rated against 240, 240 and 217 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures. Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
    ©2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
    infoIcon:
  • 240 Products | Muni National Interm Category
Based on Risk-Adjusted Returns

CharacteristicsAllocations, exposures and holdings are subject to change. Percentages may be rounded.

Allocations, exposures and holdings are subject to change. Percentages may be rounded.
Statistics
As of Date 8/31/2020
Net Assets $77 million
Dividend Frequency Monthly
Holdings Characteristics
(as of 8/31/2020)
Fund Bloomberg Barclays Municipal Bond Index
Effective Duration 5.58 yrs 5.15 yrs

Municipal Sector Exposure (%)

(as of 8/31/2020)
label currentpercentage
Revenue Bonds 72
General Obligation Bonds 22
Cash, Cash Offsets & Cash Equivalents 6
Pre-Refunded Debt 1
Other Non-Municipal Bonds 0
(as of 6/30/2020)
label currentpercentage
Revenue Bonds 67
General Obligation Bonds 24
Cash, Cash Offsets & Cash Equivalents 8
Pre-Refunded Debt 1
Other Non-Municipal Bonds 0

Revenue Sector Exposure (%)

(as of 8/31/2020)
label currentpercentage
Port, Airport and Marina 12
Health Care 11
Special Tax 9
Lease 7
Education 5
Housing 5
Sales Tax 5
Transportation 5
Multiple Utilities 4
Industrial Development 4
Tobacco 2
Sewer and Water 1
Port Authority 0
Student Loans 0
Sports/Convention 0
Other Tax Exempt Revenue Bonds 0
Resource Recovery 0
(as of 6/30/2020)
label currentpercentage
Port, Airport and Marina 10
Health Care 11
Special Tax 7
Lease 6
Education 7
Housing 4
Sales Tax 5
Transportation 5
Multiple Utilities 4
Industrial Development 4
Tobacco 3
Sewer and Water 2
Port Authority 1
Student Loans 0
Sports/Convention 0
Other Tax Exempt Revenue Bonds 0
Resource Recovery 0
Yields
As of Date 8/31/2020
Distribution Yield at NAV 1.73%
30 Day SEC Yield 1.08%
Unsubsidized 30-Day SEC Yield 0.91%

Top Ten Issuers (%)

(as of 8/31/2020)
label percentageholding
City of New York, NY, GO 4.64
New York State Dormitory Auth Rev 3.37
State of Colorado 1.73
State of California, GO 1.57
Sales Tax Securitization Corp., IL Rev 1.56
Metropolitan Transportation Auth, NY, Rev 1.54
City of Los Angeles Department of Airports 1.52
State of Illinois, GO 1.52
Rhode Island Housing & Mortgage Finance Corp. 1.49
Maryland Stadium Auth 1.44
Total Portfolio % 20.38
(as of 6/30/2020)
label percentageholding
New York State Dormitory Auth Rev 4.11
City of New York, NY, GO 3.96
State of Colorado 2.02
State of California, GO 1.84
Metropolitan Transportation Auth, NY, Rev 1.83
Sales Tax Securitization Corp., IL Rev 1.82
State of Illinois, GO 1.74
Public Finance Auth, WI 1.55
Buckeye, OH, Tobacco Settlement Finance Auth 1.33
State of New York Mortgage Agency 1.33
Total Portfolio % 21.53

Credit Exposure (%)

(as of 8/31/2020)
label value
Aaa/AAA 10
Aa/AA 32
A 34
Baa/BBB 10
Ba/BB 3
B 0
Caa/CCC or lower 0
Not Rated 5
Cash & Cash Offsets 6
Credit exposure is the credit ratings for the underlying securities of the Fund as provided by Standard and Poor's (S&P), Moody's Investors Service, or Fitch and typically range from AAA/Aaa (highest) to C/D (lowest). If S&P, Moody's, and Fitch assign different ratings, the median rating is used. If only two agencies assign ratings, the lower rating is used. Securities that are not rated by any of the three agencies are listed as "Not Rated." Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.
Fund Essentials
Inception Date 05/29/2015
Symbol HMKIX
CUSIP 41664T305
Fund Number 1710

Insights

pdf

Coronavirus Update Center 

07/21/2020
Collected insights on the impact of coronavirus.
pdf

Munis: Worth the Risks (If You Know Where to Look) 

06/08/2020
The ripple effects of COVID-19 will be felt across muni sectors, but we believe muni valuations may more than compensate investors for the increased risks.
pdf

How to Build a Better Fixed-Income Allocation 

05/15/2020
We explore how investors can seek to make their fixed-income allocation more effective, while still keeping it simple.

Literature

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Fact Sheet

06/30/2020 | pdf

This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.

View FINRA Letter

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Commentary

06/30/2020 | pdf

Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.

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Summary Prospectus

pdf

A concise summary of the Fund’s investment strategy, performance, expenses, risks, and management team.

Hartford Municipal Suite

06/30/2020 | pdf

This Pitchbook reviews the Funds' investment approach, investment team, investment process, and general portfolio parameters.

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Semi Annual Report

pdf

A semi-annual update on the Fund that includes a manager discussion of the Fund’s performance and financial statements.

Statutory Prospectus

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An annual update on the Fund that includes information about the Fund’s investment manager, sub-adviser, and operations.

Annual Report

pdf

An annual update on the Fund that includes a manager discussion of the Fund’s performance and financial statements.

SAI

pdf

A supplementary document to the Fund’s prospectus that includes additional information about the Fund and its operations.  

Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Fixed income security risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall. • Municipal securities may be adversely impacted by state/local, political, economic, or market conditions. Investors may be subject to the federal Alternative Minimum Tax as well as state and local income taxes. Capital gains, if any, are taxable. • Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities.

Additional Information Regarding Bloomberg Barclays Indices Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). BARCLAYS® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, "Barclays"), used under license. Bloomberg or Bloomberg's licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

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