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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 10/31/2019)
Average Annual Total Returns % (as of 10/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Income  I 7.99 10.30 4.06 --- --- 4.26
Benchmark 6.94 9.42 3.62 --- --- ---
Morningstar Muni National Intermediate Category 6.32 8.31 2.89 --- --- ---
Performance (%)
% (as of 9/30/2019)
Average Annual Total Returns % (as of 9/30/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Income  I 7.88 9.45 3.63 --- --- 4.32
Benchmark 6.75 8.55 3.19 --- --- ---
Morningstar Muni National Intermediate Category 6.23 7.52 2.57 --- --- ---
SI = Since Inception. Fund Inception: 05/29/2015
Operating Expenses:   Net  0.47% |  Gross  0.81%

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 10/31/2019)
  • Overall
    infoIcon:
    Overall, 5 stars and 3-Year, 5 stars, rated against 247 and 247 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.
    ©2019 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:
  • 247 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 9/30/2019
Net Assets $35 million
Dividend Frequency Monthly
Holdings Characteristics
(as of 9/30/2019)
Fund Bloomberg Barclays Municipal Bond Index
Effective Duration 5.36 yrs 5.06 yrs

Municipal Sector Exposure (%)

(as of 9/30/2019)
label currentpercentage
Revenue Bonds 70
General Obligation Bonds 23
Cash, Cash Offsets & Cash Equivalents 5
Pre-Refunded Debt 1
US TIPS 0
Other Non-Municipal Bonds 0
(as of 6/30/2019)
label currentpercentage
Revenue Bonds 73
General Obligation Bonds 19
Cash, Cash Offsets & Cash Equivalents 7
Pre-Refunded Debt 1
US TIPS 0
Other Non-Municipal Bonds 0

Revenue Sector Exposure (%)

(as of 9/30/2019)
label currentpercentage
Health Care 16
Port, Airport and Marina 10
Special Tax 7
Multiple Utilities 6
Sales Tax 6
Industrial Development 5
Transportation 4
Housing 4
Tobacco 4
Education 3
Lease 3
Sewer and Water 2
Port Authority 1
Sports/Convention 0
Other Tax Exempt Revenue Bonds 0
Resource Recovery 0
Student Loans 0
(as of 6/30/2019)
label currentpercentage
Health Care 17
Port, Airport and Marina 10
Special Tax 7
Multiple Utilities 7
Sales Tax 5
Industrial Development 5
Transportation 5
Housing 3
Tobacco 4
Education 3
Lease 2
Sewer and Water 2
Port Authority 1
Sports/Convention 0
Other Tax Exempt Revenue Bonds 0
Resource Recovery 0
Student Loans 0
Yields
As of Date 10/31/2019
Distribution Yield at NAV 2.39%
30 Day SEC Yield 1.54%
Unsubsidized 30-Day SEC Yield 1.26%

Top Ten Issuers (%)

(as of 9/30/2019)
label percentageholding
Illinois State Finance Auth Rev 2.34
Massachusetts Dev Finance Agency 2.19
State of Illinois, GO 1.99
Buckeye, OH, Tobacco Settlement Finance Auth 1.90
Ecorse, MI, Public School Dist 1.61
Public Finance Auth, WI 1.48
State of Texas 1.48
Arlington, TX, Higher Education Finance Corp. Rev 1.38
Michigan Finance Auth 1.26
Clark County, NV, School Dist, GO 1.15
Total Portfolio % 16.78
(as of 6/30/2019)
label percentageholding
Illinois State Finance Auth Rev 2.66
Massachusetts Dev Finance Agency 2.47
Buckeye, OH, Tobacco Settlement Finance Auth 2.14
Public Finance Auth, WI 1.67
Arlington, TX, Higher Education Finance Corp. Rev 1.57
State of Illinois, GO 1.50
Michigan Finance Auth 1.43
Clark County, NV, School Dist, GO 1.31
Chicago, IL, Midway International Airport Rev 1.28
New York State Dormitory Auth Rev 1.21
Total Portfolio % 17.24

Credit Exposure (%)

(as of 9/30/2019)
label value
Aaa/AAA 6
Aa/AA 22
A 39
Baa/BBB 17
Ba/BB 5
B 2
Caa/CCC or lower 0
Not Rated 6
Cash & Cash Offsets 3
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

The 5-Minute Forecast 4Q19 

10/16/2019
A concise summary of the Hartford Funds Investment Consulting Group's views on the main challenges facing investors: Growth, Income, Volatility, Inflation, and Taxes.
pdf

3Q Multi-Asset Outlook: Central Banks to the Rescue? Don't Count on it  

07/15/2019
Regardless of near-term developments on the trade front, I expect growth to slow and think investors should consider more defensive positioning.

Literature

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pdf

Fact Sheet

09/30/2019 | 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

09/30/2019 | 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

03/01/2019 | pdf

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

Pitchbook

09/30/2019 | pdf

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

Semi Annual Report

04/30/2019 | pdf

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

Statutory Prospectus

03/01/2019 | pdf

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

Annual Report

10/31/2018 | pdf

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

SAI

03/01/2019 | 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. • Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. • 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.

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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