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The 5-Minute Forecast

1Q19: Reduce but Don’t Abandon Risk

A concise summary of the Hartford Funds Multi-Asset Team's views on the main challenges facing investors: Growth, Income, Volatility, Inflation, and Taxes.

For a quick market recap of 4Q 2018, please click here.

Growth

Our outlook for global growth remains positive despite elevated levels of market volatility amid continuing political instability, protectionist policies, and global trade tensions.

While the recent market correction and end to the momentum trade was a good reminder of the benefits of holding a diversified portfolio, leading economic indicators remain positive, and we believe company fundamentals are still strong. At the same time, the S&P 500 Index’sA 50-day moving average crossed below its 200-day moving average in December—a negative technical indicator. While we don’t see any immediate catalysts for a protracted selloff in risk assets, we expect US GDP growth to slow in 2019.

Our current bias is toward more defensive sectors and small- and mid-cap domestic companies, especially those that can withstand negative macro effects and pass any increased costs through to their customer base.

We find valuations for both European and emerging-market (EM) equities to be attractive at current levels, but investors should maintain a long-term perspective as volatility is expected to persist in the short term.

Across all geographies, we advocate for active management over passive exposure as downside risks remain.

Implementation Ideas »


Income

We continue to favor equities over credit instruments in a rising-rate environment. When choosing fixed-income strategies, we prefer active approaches because they can shift underlying exposures based on macro developments, seek to exploit widening spreads, and pursue tactical credit-specific opportunities.

Our base case is that credit spreads will remain range-bound in the near term. Fed Chairman Powell recently took a less hawkish stance, indicating that the pace of rate hikes might slow going forward. Given the flatness of the yield curve, we prefer shorter-durationB exposures and, while we expect higher-yielding credit to have a better risk-return profile than investment-grade bonds, we are keeping an eye on the interest coverage ratioC and the amount of leverage on corporate balance sheets. Floating rate loans and high-yield bonds may offer slightly better prospects given their higher yields. That said, recent outflows from these asset classes call for selectivity.

Unless the Fed hikes rates more aggressively than anticipated, the US dollar may be reaching a peak after the nearly seven year run-up that began in 2011. We expect the dollar to fade in the coming years, and a weaker dollar implies looser financial conditions for emerging countries with dollar-denominated debt. As a result, EM debt is beginning to look more attractive given current valuations and yields, and it may be an option for patient, long-term investors.

REITsD are an interesting option for investors looking to diversify their income sources and own an asset class that may keep pace with inflation.

Implementation Ideas »


Volatility

Volatility reared its ugly head in the fourth quarter, inflicting its damage on both the equity and credit markets. The Cboe Volatility Index (VIX)E hit 36 in late December, up from 15 in the summer and early fall.

The search for a relatively safe hiding place may be challenging. As the yield curve flattens, longer-duration US government bonds become less attractive as a hedge against equity volatility. One option that can help diversify domestic and fixed-income volatility is non-US sovereign debt. This may be a prudent choice for investors who can tolerate the accompanying currency risk.

We continue to favor cash or shorter-duration fixed-income strategies as hedges against equity drawdowns and rising interest-rate risks. Equity investors may also consider lower-volatility equity strategies as a potential way to dampen overall portfolio risk.

Implementation Ideas »


Inflation

Inflation concerns may have weakened slightly, but inflation is likely to increase since we’re later in the economic cycle, so investors should remain vigilant.

Treasury-Inflation Protected Securities (TIPS) underperformed a number of fixed-income asset classes recently, but can still mitigate risk for investors willing to weather shorter-term volatility and hold them to maturity.

Commodities have historically provided a good inflation hedge along with growth potential. Given their recent pullback, investors may consider adding some exposure on the margin.

Real return municipal bonds may also be worthy of consideration as a potential inflation hedge.

Implementation Ideas »


Taxes

Municipal bonds finished the year in slightly positive territory, outperforming most other fixed-income asset classes. Municipal bond yields appear more attractive relative to Treasuries at the middle and longer points along the yield curve, while attractive valuations and slightly shorter durations may favor options in the middle of the curve.

Implementation Ideas »


4Q Market Review

Global equity markets experienced a setback in the fourth quarter as volatility spiked dramatically and most global exchanges declined meaningfully. Amid the losses, the US dollar gained while energy prices plummeted almost 40%, putting additional pressure on emerging-market equities and debt. Further exacerbating the selloff, the Federal Reserve (Fed) increased interest rates again, and the yield curve briefly inverted. On a positive note, we believe underlying company fundamentals in the US remain strong.

Overseas, macro issues weighed on the markets. Europe, in particular, faced a number of challenges, including Brexit, political unrest in France, rising Italian bond yields, and the end of the European Central Bank’s bond buying program.


Past performance is not a guarantee of future results. Investors cannot directly invest in an index.

JP Morgan GBI Emerging Markets Global Diversified Index is a comprehensive global, local emerging-markets index, and consists of liquid, fixed-rate, domestic-currency government bonds.

* Views expressed are as of 12/31/18, based on available information, and subject to change without notice. This material is not intended to constitute investment advice, an offer to sell, or the solicitation of an offer to purchase shares or other securities.

A S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held stocks.
B Duration is a measure of the sensitivity of an investment’s price to nominal interest-rate movement.
C Interest coverage ratio is a debt and profitability ratio used to determine how easily a company can pay interest on its outstanding debt.
D A REIT, which stands for Real Estate Investment Trust, is a company that owns or manages income-producing real estate. REITs are dependent upon the financial condition of the underlying real estate. Risks associated with REITs include credit risk, liquidity risk, and interest-rate risk.
E “VIX,” commonly referred to as the “Fear Index,” is the ticker symbol for the Chicago Board Options Exchange (Cboe) Volatility Index and measures the market’s expectation of 30-day volatility. VIX levels below 20 reflect complacency, while levels of 40 or higher reflect extremely high levels of volatility.

 

Investing involves risk, including the possible loss of principal. There is no guarantee a fund will achieve its stated objective. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political and economic developments. These risks may be greater for investments in emerging markets • 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. • Loans can be difficult to value and highly illiquid; they are also subject to nonpayment, collateral, bankruptcy, default, extension, prepayment and insolvency risks. • 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. • The value of inflation-protected securities (IPS) generally fluctuates with changes in real interest rates, and the market for IPSs may be less developed or liquid, and more volatile, than other securities markets. • Investments in the commodities market and the natural-resource industry may increase the fund’s liquidity risk, volatility and risk of loss if adverse developments occur. • Small- and mid-cap securities can have greater risk and volatility than large-cap securities. • The main risk of real estate related securities is that the value of the underlying real estate may decrease in value. • In certain instances, unlike other ETFs, the Hartford Schroders Tax-Aware Bond ETF, Hartford Municipal Opportunities ETF, and Hartford Short Duration ETF may effect creations and redemptions partly or wholly for cash, rather than in-kind, which may make the fund less tax-efficient and incur more fees than a more conventional ETF. The Hartford Municipal Opportunities ETF and Hartford Schroders Tax-Aware Bond ETF are actively managed and do not seek to replicate the performance of a specified index. The Hartford Short Duration ETF, the Hartford Municipal Opportunities ETF are new and have a limited operating history. • Due to its investment strategy, the Hartford Multifactor REIT ETF and the Hartford Multifactor US Equity ETF may make higher capital gain distributions than other ETFs. • Diversification does not ensure a profit or protect against a loss in a declining market.

The Hartford Floating Rate Fund and Hartford Floating Rate High Income Fund should not be considered an alternative to CDs or money market funds. These Funds are for investors who are looking to complement their traditional fixed-income investments.

The views expressed herein are those of Hartford Funds, are for informational purposes only, and are subject to change based on prevailing market, economic, and other conditions. The views expressed may not reflect the opinions of the sub-advisers to our funds. They should not be construed as research or investment advice nor should they be considered an offer or solicitation to buy or sell any security. This information is current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Hartford Funds.

Index data for Citigroup World Government Bond Index© 2019 Citigroup Index LLC (“Citi Index”). All rights reserved. CITI is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used with permission for certain purposes by Hartford Funds Management Group, Inc. Hartford World Bond Fund is not sponsored, endorsed, sold or promoted by Citi Index, and Citi Index makes no representation regarding the advisability of investing in such fund. Reproduction of the Citi Index data and information (collectively, “Citi Data”) in any form is prohibited except with the prior written permission of Citi Index. CITI INDEX GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF ACCURACY, ADEQUACY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Citi Index is not responsible for any errors or omissions in, or for the results obtained from use of, Citi Data, and in no event shall Citi Index be liable for any direct, indirect, special or consequential damages in connection therewith.

WP424_0119  210186  HFA000430

Hartford Core Equity Fund 

(HGIIX)

(as of 3/31/2019)
Overall
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Overall, 4 stars, 3-Year, 4 stars, 5-Year, 5 stars, and 10-Year, 5 stars, rated against 1218, 1218, 1081 and 810 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.
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1218 Products | Large Blend Category
Based on Risk-Adjusted Returns

Morningstar Analyst Rating1

Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Core Equity  I 13.58 10.53 12.99 11.72 15.96 6.79
BENCHMARK 13.65 9.50 13.51 10.91 15.92 ---
Morningstar Large Blend Category 12.96 6.95 11.86 8.54 13.98 ---
Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Core Equity  I 13.58 10.53 12.99 11.72 15.96 6.79
BENCHMARK 13.65 9.50 13.51 10.91 15.92 ---
Morningstar Large Blend Category 12.96 6.95 11.86 8.54 13.98 ---
SI = Since Inception. Fund Inception: 04/30/1998
Operating Expenses:   Net 0.47% |  Gross  0.47%
Share Class Inception: 3/31/15.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 4/30/98.

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.

1 Morningstar awarded the Fund a Bronze analyst rating on 10/3/18. The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the manager research analysts of Morningstar. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Analysts use this five pillar evaluation to determine how they believe funds are likely to perform over the long term on a risk-adjusted basis. They consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects an Analyst’s conviction in a fund’s prospects for outperformance. Analyst Ratings are continuously monitored and reevaluated at least every 14 months. The Morningstar Analyst Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly from what we expected. For more detailed information about Morningstar’s Analyst rating, including its methodology, please go to hartfordfunds.com/MorningstarAnalystMethodology.


Hartford Multifactor US Equity ETF 


Hartford Schroders International Multi-Cap Value Fund 


Hartford Equity Income Fund 


Hartford Schroders US Small Cap Opportunities Fund 


Hartford Schroders Emerging Markets Equity Fund 


Hartford Emerging Markets Equity Fund 

The preceding list includes both mutual funds and ETFs. Unlike traditional open-ended mutual funds, ETF shares are bought and sold in the secondary market through a stockbroker. Brokerage commissions may apply. ETFs trade on the major stock exchanges and their prices will fluctuate throughout the day. When buying or selling an ETF, you’ll pay or receive the current market price, which may be more or less than net asset value. Mutual fund investors buy and sell directly with the mutual fund and mutual fund shares are priced once a day after the markets close. Both mutual funds and ETFs are subject to risk and volatility.

Hartford Multi-Asset Income Fund 

(HAFIX)

(as of 3/31/2019)
Overall
infoIcon:
Overall, 4 stars and 3-Year, 4 stars, rated against 488 and 488 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.
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488 Products | Allocation--30% to 50% Equity Category
Based on Risk-Adjusted Returns
Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Multi-Asset Income  I 7.20 3.65 7.25 --- --- 3.36
BENCHMARK 7.70 7.04 7.22 --- --- ---
Morningstar Allocation--30% to 50% Equity Category 7.18 3.11 5.43 --- --- ---
Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Multi-Asset Income  I 7.20 3.65 7.25 --- --- 3.36
BENCHMARK 7.70 7.04 7.22 --- --- ---
Morningstar Allocation--30% to 50% Equity Category 7.18 3.11 5.43 --- --- ---
SI = Since Inception. Fund Inception: 04/30/2014
Operating Expenses:   Net 0.78% |  Gross  0.99%

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.


Hartford Floating Rate High Income Fund 


Hartford Schroders Emerging Markets Multi-Sector Bond Fund 


Hartford Multifactor REIT ETF 

The preceding list includes both mutual funds and ETFs. Unlike traditional open-ended mutual funds, ETF shares are bought and sold in the secondary market through a stockbroker. Brokerage commissions may apply. ETFs trade on the major stock exchanges and their prices will fluctuate throughout the day. When buying or selling an ETF, you’ll pay or receive the current market price, which may be more or less than net asset value. Mutual fund investors buy and sell directly with the mutual fund and mutual fund shares are priced once a day after the markets close. Both mutual funds and ETFs are subject to risk and volatility.

Hartford Floating Rate Fund 

(HFLIX)

(as of 3/31/2019)
Overall
infoIcon:
Overall, 4 stars, 3-Year, 4 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 215, 215, 196 and 81 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.
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215 Products | Bank Loan Category
Based on Risk-Adjusted Returns

Morningstar Analyst Rating1

Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate  I 4.07 2.13 5.86 3.20 7.20 4.04
BENCHMARK 3.96 2.95 5.65 3.61 7.98 ---
Morningstar Bank Loan Category 3.63 2.25 4.87 2.82 6.91 ---
Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate  I 4.07 2.13 5.86 3.20 7.20 4.04
BENCHMARK 3.96 2.95 5.65 3.61 7.98 ---
Morningstar Bank Loan Category 3.63 2.25 4.87 2.82 6.91 ---
SI = Since Inception. Fund Inception: 04/29/2005
Operating Expenses:   Net 0.72% |  Gross  0.72%
Share Class Inception: 8/31/06.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 4/29/05.

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.

1 Morningstar awarded the Fund a Neutral analyst rating on 9/4/18. The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the manager research analysts of Morningstar. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Analysts use this five pillar evaluation to determine how they believe funds are likely to perform over the long term on a risk-adjusted basis. They consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects an Analyst’s conviction in a fund’s prospects for outperformance. Analyst Ratings are continuously monitored and reevaluated at least every 14 months. The Morningstar Analyst Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly from what we expected. For more detailed information about Morningstar’s Analyst rating, including its methodology, please go to hartfordfunds.com/MorningstarAnalystMethodology.


Hartford Short Duration Fund 


Hartford Short Duration ETF 


Hartford Equity Income Fund 


Hartford World Bond Fund 

The preceding list includes both mutual funds and ETFs. Unlike traditional open-ended mutual funds, ETF shares are bought and sold in the secondary market through a stockbroker. Brokerage commissions may apply. ETFs trade on the major stock exchanges and their prices will fluctuate throughout the day. When buying or selling an ETF, you’ll pay or receive the current market price, which may be more or less than net asset value. Mutual fund investors buy and sell directly with the mutual fund and mutual fund shares are priced once a day after the markets close. Both mutual funds and ETFs are subject to risk and volatility.

Hartford Inflation Plus Fund 

Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Inflation Plus  I 2.66 2.32 1.50 1.27 2.87 3.84
BENCHMARK 2.57 2.72 1.53 1.50 2.73 ---
Morningstar Inflation-Protected Bond Category 3.27 2.29 1.77 1.32 2.87 ---
Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Inflation Plus  I 2.66 2.32 1.50 1.27 2.87 3.84
BENCHMARK 2.57 2.72 1.53 1.50 2.73 ---
Morningstar Inflation-Protected Bond Category 3.27 2.29 1.77 1.32 2.87 ---
SI = Since Inception. Fund Inception: 10/31/2002
Operating Expenses:   Net 0.60% |  Gross  0.68%
Share Class Inception: 8/31/06.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 10/31/02.

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.


Hartford Global Real Asset Fund 

Hartford Schroders Tax-Aware Bond Fund 

(STWTX)

(as of 3/31/2019)
Overall
infoIcon:
Overall, 5 stars, 3-Year, 4 stars, and 5-Year, 5 stars, rated against 258, 258 and 227 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.
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258 Products | Muni National Interm Category
Based on Risk-Adjusted Returns

Morningstar Analyst Rating1

Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I 3.49 5.28 2.82 4.32 --- 4.88
BENCHMARK 2.90 5.38 2.71 3.73 --- ---
Morningstar Muni National Intermediate Category 2.67 4.56 2.06 2.79 --- ---
Performance (%)
% (as of 3/31/2019)
Average Annual Total Returns % (as of 3/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I 3.49 5.28 2.82 4.32 --- 4.88
BENCHMARK 2.90 5.38 2.71 3.73 --- ---
Morningstar Muni National Intermediate Category 2.67 4.56 2.06 2.79 --- ---
SI = Since Inception. Fund Inception: 10/03/2011
Operating Expenses:   Net 0.49% |  Gross  0.62%
Performance prior to 10/24/16 for Class I-shares reflects the performance, fees, and expenses of the Investor Class of the predecessor fund Schroder Broad Tax-Aware Value Bond Fund. If Class I fees and expenses were reflected, performance would have differed. SI performance is calculated from 10/03/11.

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.

1 Morningstar awarded the Fund a Neutral analyst rating on 12/5/18. The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the manager research analysts of Morningstar. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Analysts use this five pillar evaluation to determine how they believe funds are likely to perform over the long term on a risk-adjusted basis. They consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects an Analyst’s conviction in a fund’s prospects for outperformance. Analyst Ratings are continuously monitored and reevaluated at least every 14 months. The Morningstar Analyst Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly from what we expected. For more detailed information about Morningstar’s Analyst rating, including its methodology, please go to hartfordfunds.com/MorningstarAnalystMethodology.


Hartford Schroders Tax-Aware Bond ETF 


Hartford Municipal Income Fund 


Hartford Municipal Opportunities Fund 


Hartford Municipal Opportunities ETF 

The preceding list includes both mutual funds and ETFs. Unlike traditional open-ended mutual funds, ETF shares are bought and sold in the secondary market through a stockbroker. Brokerage commissions may apply. ETFs trade on the major stock exchanges and their prices will fluctuate throughout the day. When buying or selling an ETF, you’ll pay or receive the current market price, which may be more or less than net asset value. Mutual fund investors buy and sell directly with the mutual fund and mutual fund shares are priced once a day after the markets close. Both mutual funds and ETFs are subject to risk and volatility.