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Tax-Advantaged Bond fund

Hartford Sustainable Municipal Bond Fund    Share Class - I (HMKIX)


Effective 4/30/21, the Hartford Sustainable Municipal Bond Fund (formerly known as the Hartford Municipal Income Fund) changed its name, objective and principal investment strategy. Returns prior to 4/30/21 reflect the Fund’s performance when it pursued a different objective and principal investment strategy. Please see the Fund’s prospectus for additional information.

Objective

Seeks to provide current income that is generally exempt from federal income taxes, and long-term total return, through investments within a sustainability framework.

Overview

A municipal bond fund with a sustainability focus that is generally diversified across states, sectors, and credit quality.

Portfolio Management
Managing Director
Fixed-Income Portfolio Manager & Credit Analyst
7
YRS
MANAGING THIS FUND
12
YRS
AT WELLINGTON MANAGEMENT
26
YRS
EXPERIENCE IN THIS INDUSTRY
Senior Managing Director
Fixed-Income Portfolio Manager
7
YRS
MANAGING THIS FUND
17
YRS
AT WELLINGTON MANAGEMENT
34
YRS
EXPERIENCE IN THIS INDUSTRY

The portfolio managers are supported by the full resources of Wellington.

Performance

PERFORMANCE %
 
CUMULATIVE %
(as of 10/31/2022)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 10/31/2022)
YTD 1YR 3YR 5YR 10YR SI
Hartford Sustainable Municipal Bond I -14.62 -13.70 -2.70 0.30 --- 1.39
Benchmark -12.86 -11.98 -2.18 0.37 --- ---
Morningstar Muni National Intermediate Category -11.86 -11.18 -2.03 0.22 --- ---
 
CUMULATIVE %
(as of 9/30/2022)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 9/30/2022)
YTD 1YR 3YR 5YR 10YR SI
Hartford Sustainable Municipal Bond I -13.79 -13.07 -2.35 0.51 --- 1.54
Benchmark -12.13 -11.50 -1.85 0.59 --- ---
Morningstar Muni National Intermediate Category -11.24 -10.72 -1.77 0.38 --- ---

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.

SI = Since Inception. Fund Inception: 05/29/2015

Characteristics

FUND ESSENTIALS
Inception Date 05/29/2015
Net Assets $96 million
Gross Operating Expenses 0.61%
Net Operating Expenses 0.46%
Morningstar Category Muni National Interm
Lipper Classification General & Insured Municipal Debt Funds
CUSIP 41664T305
Fund Number 1710
FUND STATS
Dividend Frequency
Monthly
Holdings Characteristics
FUND Bloomberg Municipal Bond Index
Effective Duration
6.49 yrs 6.45 yrs
Yields (%) (as of 10/31/22)
Distribution Yield at NAV
2.47
30-Day SEC Yield
3.63
Unsubsidized 30-Day SEC Yield
3.17
Revenue Sector Exposure (%)
Health Care 18
Transportation 13
Housing 8
Education 8
Port, Airport and Marina 7
Special Tax 7
Multiple Utilities 6
Student Loans 5
Industrial Development 4
Lease 3
Sales Tax 3
Sewer and Water 1
Other Tax Exempt Revenue Bonds 0
Port Authority 0
Resource Recovery 0
Sports/Convention 0
Tobacco 0
Health Care 15
Transportation 11
Housing 9
Education 7
Special Tax 7
Sales Tax 7
Port, Airport and Marina 6
Multiple Utilities 6
Sewer and Water 6
Student Loans 4
Industrial Development 3
Lease 3
Other Tax Exempt Revenue Bonds 0
Port Authority 0
Resource Recovery 0
Sports/Convention 0
Tobacco 0
Top Ten Issuers (%)
Massachusetts Dev Finance Agency, Rev 3.32
San Joaquin Hills, CA, Transportation Corridor Agency 3.02
California Municipal Finance Auth 2.52
New York State Dormitory Auth Rev 2.20
Metropolitan Transportation Auth, NY, Rev 2.12
State of Illinois, GO 2.12
Municipal Electric Auth, GA 1.97
Connecticut State Health & Educational Facs Auth 1.95
Minnesota Housing Finance Agency 1.90
San Diego County Regional Airport Auth 1.76
Total Portfolio % 22.88
New York City Municipal Water Finance Auth 4.40
Dallas Area Rapid Transit 3.75
Massachusetts Dev Finance Agency, Rev 2.74
San Joaquin Hills, CA, Transportation Corridor Agency 2.47
Metropolitan Transportation Auth, NY, Rev 2.32
California Municipal Finance Auth 2.07
Minnesota Housing Finance Agency 2.01
New York State Dormitory Auth Rev 1.84
State of Illinois, GO 1.76
Municipal Electric Auth, GA 1.64
Total Portfolio % 25.00
Credit Exposure (%)
Aaa/AAA 8
Aa/AA 24
A 41
Baa/BBB 17
Ba/BB 4
B 0
Caa/CCC or lower 0
Not Rated 4
Cash & Cash Offsets 1
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.
Municipal Sector Exposure (%)
Revenue Bonds 83
General Obligation Bonds 14
Cash, Cash Offsets & Cash Equivalents 1
Pre-Refunded Debt 1
Other Non-Municipal Bonds 0
Revenue Bonds 84
General Obligation Bonds 12
Cash, Cash Offsets & Cash Equivalents 2
Pre-Refunded Debt 1
Other Non-Municipal Bonds 1
distributions and capital gains
Distribution Date Distribution NAV ordinary income short term capital gains long term capital gains total distribution
11/1/2022 9.26 $0.0190 $0.0000 $0.0000 $0.0190
10/3/2022 9.37 $0.0191 $0.0000 $0.0000 $0.0191
9/1/2022 9.75 $0.0182 $0.0000 $0.0000 $0.0182
8/1/2022 10.03 $0.0180 $0.0000 $0.0000 $0.0180
7/1/2022 9.77 $0.0176 $0.0000 $0.0000 $0.0176
6/1/2022 10.00 $0.0159 $0.0000 $0.0000 $0.0159
5/2/2022 9.88 $0.0154 $0.0000 $0.0000 $0.0154
4/1/2022 10.24 $0.0142 $0.0000 $0.0000 $0.0142
3/1/2022 10.61 $0.0156 $0.0000 $0.0000 $0.0156
2/1/2022 10.70 $0.0134 $0.0000 $0.0000 $0.0134
1/3/2022 11.03 $0.0000 $0.0000 $0.0000 $0.0000
1/3/2022 11.03 $0.0131 $0.0000 $0.0000 $0.0131
12/20/2021 11.03 $0.0000 $0.0215 $0.0307 $0.0522
12/1/2021 11.08 $0.0137 $0.0000 $0.0000 $0.0137
Past distributions are not indicative of future distributions.

Fund Literature


09/30/2022 - PDF (199 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
This flyer explains two pathways for investors seeking a sustainable future: sustainable funds and funds that integrate ESG.
09/30/2022 - PDF (155 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
PDF (144 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
09/30/2022 - PDF (489 KB)
This module provides an overview of Wellington Management Company's Fixed Income resources and capabilities
PDF (2 KB)
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
PDF (2 KB)
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A document that supplements the fund's prospectus with additional information about the fund including its operations and risks.
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. Although the Fund primarily seeks income that is exempt from federal income taxes, 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. • Applying sustainability criteria to the investment process may result in foregoing certain investments and underperformance comparative to funds that do not have a similar focus. There is a risk that the securities identified by the sub-adviser as meeting its sustainable investing criteria do not operate as anticipated.

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 Fund products.

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The material on this site is for informational and educational purposes only. The material should not be considered tax or legal advice and is not to be relied on as a forecast. The material is also not a recommendation or advice regarding any particular security, strategy or product. Hartford Funds does not represent that any products or strategies discussed are appropriate for any particular investor so investors should seek their own professional advice before investing. Hartford Funds does not serve as a fiduciary. Content is current as of the publication date or date indicated, and may be superseded by subsequent market and economic conditions.

Investing involves risk, including the possible loss of principal. Investors should carefully consider a fund's investment objectives, risks, charges and expenses. This and other important information is contained in the mutual fund, or ETF summary prospectus and/or prospectus, which can be obtained from a financial professional and should be read carefully before investing.

Mutual funds are distributed by Hartford Funds Distributors, LLC (HFD), Member FINRA|SIPC. ETFs are distributed by ALPS Distributors, Inc. (ALPS). Advisory services may be provided by Hartford Funds Management Company, LLC (HFMC) or its wholly owned subsidiary, Lattice Strategies LLC (Lattice). Certain funds are sub-advised by Wellington Management Company LLP and/or Schroder Investment Management North America Inc (SIMNA). Schroder Investment Management North America Ltd. (SIMNA Ltd) serves as a secondary sub-adviser to certain funds. HFMC, Lattice, Wellington Management, SIMNA, and SIMNA Ltd. are all SEC registered investment advisers. Hartford Funds refers to HFD, Lattice, and HFMC, which are not affiliated with any sub-adviser or ALPS. The funds and other products referred to on this Site may be offered and sold only to persons in the United States and its territories.

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