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Hartford Municipal Short Duration Fund

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Objective

Seeks to provide current income that is generally exempt from federal income taxes, and long-term total return.

Overview

A municipal bond fund that strives to limit the volatility of returns caused by changes in interest rates and provide income that is typically exempt from federal taxes, and long-term total return.

More About Municipal Short Duration Fund 

Performance

Performance (%)
% (as of 10/31/2020)
Average Annual Total Returns % (as of 10/31/2020)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Short Duration  I 1.73 2.12 2.35 1.92 --- 1.96
Benchmark 2.33 2.76 2.37 1.84 --- ---
Morningstar Muni National Short Category 1.55 1.92 1.89 1.52 --- ---
Performance (%)
% (as of 9/30/2020)
Average Annual Total Returns % (as of 9/30/2020)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Short Duration  I 1.69 2.35 2.35 1.99 --- 1.98
Benchmark 2.49 3.35 2.41 1.93 --- ---
Morningstar Muni National Short Category 1.64 2.21 1.92 1.59 --- ---
SI = Since Inception. Fund Inception: 05/29/2015
Operating Expenses:   Net  0.47% |  Gross  0.82%

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 10/31/2020)
  • Overall
    infoIcon:
    Overall, 4 stars, 3-Year, 4 stars, and 5-Year, 4 stars, rated against 196, 196 and 178 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:
  • 196 Products | Muni National Short 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 10/31/2020
Net Assets $26 million
Dividend Frequency Monthly
Holdings Characteristics
(as of 10/31/2020)
Fund
Effective Duration 2.32 yrs

Revenue Sector Exposure (%)

(as of 10/31/2020)
label currentpercentage
Health Care 15
Port, Airport and Marina 6
Education 6
Sewer and Water 6
Sales Tax 6
Housing 6
Industrial Development 6
Special Tax 6
Lease 5
Transportation 5
Multiple Utilities 4
Tobacco 3
Student Loans 2
Port Authority 1
Other Tax Exempt Revenue Bonds 0
Resource Recovery 0
Sports/Convention 0
(as of 9/30/2020)
label currentpercentage
Health Care 15
Port, Airport and Marina 7
Education 5
Sewer and Water 2
Sales Tax 6
Housing 6
Industrial Development 6
Special Tax 6
Lease 5
Transportation 5
Multiple Utilities 4
Tobacco 3
Student Loans 1
Port Authority 1
Other Tax Exempt Revenue Bonds 0
Resource Recovery 0
Sports/Convention 0
Fund Essentials
Inception Date 05/29/2015
Symbol HMJIX
CUSIP 41664T602
Fund Number 1713
Yields
As of Date 10/31/2020
Distribution Yield at NAV 1.59%
30 Day SEC Yield 0.88%
Unsubsidized 30-Day SEC Yield 0.48%

Top Ten Issuers (%)

(as of 10/31/2020)
label percentageholding
State of Texas 3.98
New York City Water & Sewer System 3.86
Metropolitan Transportation Auth, NY, Rev 3.19
Sales Tax Securitization Corp., IL 2.91
Massachusetts Dev Finance Agency, Rev 2.90
State of Illinois, GO 2.30
Metropolitan Pier & Exposition Auth, IL 2.22
New Mexico Mortgage Finance Auth 2.05
Municipal Electric Auth, GA 1.73
Chicago, IL, Board of Education, GO 1.69
Total Portfolio % 26.83
(as of 9/30/2020)
label percentageholding
State of Texas 4.16
Metropolitan Transportation Auth, NY, Rev 3.33
Sales Tax Securitization Corp., IL 3.04
Massachusetts Dev Finance Agency, Rev 3.01
State of Illinois, GO 2.39
Metropolitan Pier & Exposition Auth, IL 2.31
New Mexico Mortgage Finance Auth 2.21
Municipal Electric Auth, GA 1.81
Chicago, IL, Board of Education, GO 1.77
Public Finance Auth, WI 1.72
Total Portfolio % 25.75

Credit Exposure (%)

(as of 10/31/2020)
label value
Aaa/AAA 5
Aa/AA 17
A 34
Baa/BBB 20
Ba/BB 7
B 0
Caa/CCC or lower 0
Not Rated 10
Cash & Cash Offsets 7
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 (%)

(as of 10/31/2020)
label currentpercentage
Revenue Bonds 74
General Obligation Bonds 13
Cash, Cash Offsets & Cash Equivalents 11
Pre-Refunded Debt 3
Other Non-Municipal Bonds 0
(as of 9/30/2020)
label currentpercentage
Revenue Bonds 73
General Obligation Bonds 12
Cash, Cash Offsets & Cash Equivalents 12
Pre-Refunded Debt 3
Other Non-Municipal Bonds 0

Insights

pdf

Coronavirus Update Center 

11/16/2020
Collected insights on the impact of coronavirus.
pdf

Are You Prepared For Duration Risk? 

10/30/2020
Changing interest rates may have a significant effect on fixed-income investments.
pdf

Fundamentals, Elections, and Other Top-of-Mind Issues for Muni Bond Investors 

09/28/2020
Municipal bonds remain a high-quality asset class with a high capacity to repay debt obligations, even in the face of downgrades.

Literature

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pdf

Fact Sheet

09/30/2020 | 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

09/30/2020 | pdf

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

View FINRA Letter

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Summary Prospectus

pdf

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

Wellington Fixed Income Overview

09/30/2020 | pdf

This module provides an overview of Wellington Management Company's Fixed Income resources and capabilities

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Hartford Municipal Suite

09/30/2020 | 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

pdf

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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