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The 5-Minute Forecast

4Q19: Geopolitical Ripples

A concise summary of the Hartford Funds Investment Consulting Group's views on the main challenges facing investors: growth, income, volatility, inflation, and taxes.

For a quick market recap of 3Q 2019, please click here.

Growth

Trade tensions continue to hinder global equity returns and sentiment, though continued accommodation from central banks could provide a backstop in the near term. The US economy appears to be on relatively stable footing, with a healthy consumer that has been willing to spend—a key driver of economic growth. This stability has made the US market more attractive than foreign markets for equity investors.

The eurozone has been stuck in neutral despite extraordinary measures undertaken by the ECB to stimulate growth. Germany is Europe’s largest exporter, and it continues to be negatively impacted by fallout from the US-China trade war. Continued strain from trade conflicts and Brexit drama are negatively impacting the outlook for European equities.

Protracted global-trade tensions have also had an impact in emerging markets (EM), both directly as well as through supply-chain effects. While isolated countries such as Brazil and Mexico have stood to benefit from these trade conflicts in the short run, the overall impact from increased tariffs on the global economy and on global-equity markets is decidedly negative.

Implementation Ideas »


Income

With the Fed reversing course this year, most fixed-income segments have benefitted from the sharp drop in interest rates. With global yields at all-time lows, investors may be tempted to take on credit risk to find income, though it may be more prudent at this phase of the cycle to consider a move up in quality.

Investment-grade corporate bonds and securitized bonds generally offer income, and the fundamentals in the US appear to be strong at the moment. We expect defaults to remain low, but investors’ quest for yield has driven spreadsA tighter across most products. Emerging market debt could be an attractive option given low rates in the developed world and the likelihood of further rate cuts by policy makers, but only on a very select name-by-name basis.

Implementation Ideas »


Volatility

Geopolitics are likely to keep volatility levels high in the near term. US-China trade issues will remain in the forefront, while Brexit and tensions with Iran linger on the periphery. Speaker of the House Nancy Pelosi also announced a formal impeachment inquiry on President Trump and his dealings with Ukraine, further complicating an already tense geopolitical scene. Equity investors should consider increasing their focus on quality and safety factors to help soften the impact of potentially higher volatility.

Although the Fed has cut rates twice this year and long-term rates have dropped in tandem, high-quality fixed-income exposure can still serve as a diversifier and help to dampen risk in the equity markets. Though the upside potential may be capped with rates at multi-year lows, further accommodation from the Fed would likely be supportive of higher-quality duration.B

Implementation Ideas »


Inflation

Inflation has been subdued for much of the recovery and has not posed a material risk to investors or central banks. The Fed’s outlook for inflation has softened from earlier in the year, and market expectations have also dropped using breakeven inflation rates as a proxy.

We’re neutral on inflation hedges, but it’s important to pay close attention to geopolitics. Escalating tensions in the Middle East could curb oil supplies, causing a spike in oil prices, while higher tariffs on imports from China could eventually pass through to the consumer.

Implementation Ideas »


Taxes

Inflows into municipal bonds and bond funds have been decidedly strong this year, pushing yields across the municipal-bond yield curve to near record lows. However, we expect continued demand based on the multiple roles these assets play for investors. Populism globally is likely entrenched for the long term, which could result in pressure to redistribute income and potentially increase taxes. Municipals could help investors shield income from potentially higher tax rates.

Implementation Ideas »


3Q Market Review

Returns for global equity markets were mixed during the quarter, hampered by macro and geopolitical issues. Even with continued monetary accommodation from major central banks, the trade war has many fearing that it could tip the economy from a low-growth environment into a recession.

Trade tensions escalated between the US and China in early August, as both sides threatened additional tariffs on imports. In late August, however, both sides adopted a more conciliatory tone, which resulted in several straight weeks of market gains.

As expected, the US Federal Reserve (Fed) cut its key rate at the September meeting. The European Central Bank (ECB) also cut rates into further negative territory and will restart its quantitative easing program that ended last year. The Bank of Japan left its key rate unchanged, but left the door open for deeper rate cuts into negative territory.


Past performance does not guarantee future results.


* Views expressed are those of Hartford Funds Investment Consulting Group as of 9/30/19, 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 Spread levels are the difference in yields between two fixed-income securities with the same maturity, but originating from different investment sectors.
B Duration is a measure of the sensitivity of an investment’s price to nominal interest-rate movement.

 

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 an ETF that primarily or wholly effects creations and redemptions in-kind. 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. • Due to its investment strategy, 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 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.

WP424_1019  214347    HFA000609

Hartford Core Equity Fund 

(HGIIX)

(as of 10/31/2019)
Overall
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Overall, 5 stars, 3-Year, 5 stars, 5-Year, 5 stars, and 10-Year, 5 stars, rated against 1198, 1198, 1058 and 801 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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1198 Products | Large Blend Category
Based on Risk-Adjusted Returns

Morningstar Analyst Rating1

Performance (%)
% (as of 10/31/2019)
Average Annual Total Returns % (as of 10/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Core Equity  I 24.67 16.91 15.90 11.87 14.35 7.06
BENCHMARK 23.16 14.33 14.91 10.78 13.70 ---
Morningstar Large Blend Category 21.07 12.44 13.12 8.66 11.64 ---
Performance (%)
% (as of 9/30/2019)
Average Annual Total Returns % (as of 9/30/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Core Equity  I 22.70 8.00 14.49 12.23 13.85 7.01
BENCHMARK 20.55 4.25 13.39 10.84 13.24 ---
Morningstar Large Blend Category 18.95 2.84 11.74 8.70 11.20 ---
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 9/12/19. 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 Dividend and Growth Fund 


Hartford Equity Income Fund 


Hartford Schroders International Stock Fund 


Hartford Multifactor Developed Markets (ex-US) 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 Balanced Income Fund 

(HBLIX)

(as of 10/31/2019)
Overall
infoIcon:
Overall, 5 stars, 3-Year, 5 stars, 5-Year, 5 stars, and 10-Year, 5 stars, rated against 491, 491, 399 and 263 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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491 Products | Allocation--30% to 50% Equity Category
Based on Risk-Adjusted Returns

Morningstar Analyst Rating1

Performance (%)
% (as of 10/31/2019)
Average Annual Total Returns % (as of 10/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Balanced Income  I 16.21 14.24 8.05 6.72 9.16 7.40
BENCHMARK 16.24 13.29 7.59 6.15 8.76 ---
Morningstar Allocation--30% to 50% Equity Category 12.08 9.31 5.64 3.91 5.51 ---
Performance (%)
% (as of 9/30/2019)
Average Annual Total Returns % (as of 9/30/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Balanced Income  I 15.34 9.82 7.39 6.86 9.11 7.39
BENCHMARK 15.16 8.68 6.85 6.30 8.56 ---
Morningstar Allocation--30% to 50% Equity Category 11.20 4.54 4.96 3.94 5.39 ---
SI = Since Inception. Fund Inception: 07/31/2006
Operating Expenses:   Net 0.65% |  Gross  0.65%
Share Class Inception: 2/26/10.
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 7/31/06.

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 Silver analyst rating on 11/4/18. 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 Multi-Asset Income and Growth Fund 


Hartford Strategic Income Fund 

Hartford Short Duration Fund 

(HSDIX)

(as of 10/31/2019)
Overall
infoIcon:
Overall, 4 stars, 3-Year, 4 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 491, 491, 439 and 277 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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491 Products | Short-Term Bond Category
Based on Risk-Adjusted Returns

Morningstar Analyst Rating1

Performance (%)
% (as of 10/31/2019)
Average Annual Total Returns % (as of 10/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Short Duration  I 5.78 5.52 2.84 2.49 2.79 2.87
BENCHMARK 3.78 4.89 1.95 1.60 1.52 ---
Morningstar Short-Term Bond Category 4.28 4.85 2.13 1.75 2.01 ---
Performance (%)
% (as of 9/30/2019)
Average Annual Total Returns % (as of 9/30/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Short Duration  I 5.43 4.98 2.72 2.48 2.81 2.86
BENCHMARK 3.42 4.64 1.82 1.59 1.52 ---
Morningstar Short-Term Bond Category 3.96 4.47 2.01 1.73 2.05 ---
SI = Since Inception. Fund Inception: 10/31/2002
Operating Expenses:   Net 0.52% |  Gross  0.52%
Share Class Inception: 2/26/10.
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.

1 Morningstar awarded the Fund a Neutral analyst rating on 11/30/18. 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 ETF 


Hartford Total Return Bond Fund 


Hartford Total Return Bond ETF 


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 10/31/2019)
Average Annual Total Returns % (as of 10/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Inflation Plus  I 6.02 6.17 1.86 1.69 2.68 3.90
BENCHMARK 6.09 6.87 2.08 1.92 2.56 ---
Morningstar Inflation-Protected Bond Category 7.22 7.71 2.20 1.76 2.64 ---
Performance (%)
% (as of 9/30/2019)
Average Annual Total Returns % (as of 9/30/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Inflation Plus  I 5.62 4.78 1.70 1.73 2.78 3.90
BENCHMARK 5.80 5.75 1.94 1.95 2.69 ---
Morningstar Inflation-Protected Bond Category 7.07 6.04 2.08 1.84 2.76 ---
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 Schroders Tax-Aware Bond Fund 

(STWTX)

(as of 10/31/2019)
Overall
infoIcon:
Overall, 4 stars, 3-Year, 3 stars, and 5-Year, 4 stars, rated against 247, 247 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.
©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:
email
247 Products | Muni National Interm Category
Based on Risk-Adjusted Returns

Morningstar Analyst Rating1

Performance (%)
% (as of 10/31/2019)
Average Annual Total Returns % (as of 10/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I 7.37 9.95 3.16 3.49 --- 5.00
BENCHMARK 6.94 9.42 3.62 3.55 --- ---
Morningstar Muni National Intermediate Category 6.32 8.31 2.89 2.79 --- ---
Performance (%)
% (as of 9/30/2019)
Average Annual Total Returns % (as of 9/30/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I 7.11 8.68 2.89 3.64 --- 5.02
BENCHMARK 6.75 8.55 3.19 3.66 --- ---
Morningstar Muni National Intermediate Category 6.23 7.52 2.57 2.86 --- ---
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.