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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.
Portfolio Management
9
YRS
MANAGING THIS FUND
14
YRS
AT WELLINGTON MANAGEMENT
28
YRS
EXPERIENCE IN THIS INDUSTRY
9
YRS
MANAGING THIS FUND
19
YRS
AT WELLINGTON MANAGEMENT
36
YRS
EXPERIENCE IN THIS INDUSTRY
1
YRS
MANAGING THIS FUND
23
YRS
AT WELLINGTON MANAGEMENT
23
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Wellington.
Performance
PERFORMANCE %
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
Share Class Inception: 2/28/17.
Class F-shares performance prior to 2/28/17 reflects the performance and operating expenses of Class I-shares. Performance for Class F-shares prior to its inception date would have differed if Class F- operating expenses had been reflected. Since Inception (SI) performance is calculated from 5/29/15.
The Fund’s Class F shares have not been in operation for 10 years. Therefore, the Calendar Year Returns (F Shares) chart includes performance and operating expenses of another class. For more information, see the prospectus.
Characteristics
FUND STATS
| Dividend Frequency | Monthly |
|---|
Holdings Characteristics
| FUND | Bloomberg Municipal Bond Short 1-5 Year Index | |
|---|---|---|
| Yield to Worst (%) | 3.48% | 2.95% |
| Effective Duration | 2.14 yrs | 2.26 yrs |
Credit Exposure (%)
| Aaa/AAA | 6 |
| Aa/AA | 28 |
| A | 45 |
| Baa/BBB | 11 |
| Ba/BB | 1 |
| B | 0 |
| 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.
Municipal Sector Exposure (%)
Top Ten Issuers (%)
| Main Street Natural Gas, Inc., GA, Rev | 3.74 |
| State of Illinois, IL, GO | 3.52 |
| Black Belt Energy Gas Dist, AL, Rev | 3.00 |
| City of Houston, TX, GO | 2.76 |
| Public Finance Auth, WI, Rev | 2.50 |
| Central Texas Turnpike System, TX, Rev | 2.16 |
| Texas Department of Housing & Community Affairs, TX, Rev | 1.94 |
| Rhode Island Health & Educational Building Corp., RI, Rev | 1.73 |
| Wisconsin Health & Educational Facs Auth, WI, Rev | 1.55 |
| Triborough Bridge & Tunnel Auth, NY, Rev | 1.44 |
| Total Portfolio % | 24.34 |
Yields (%)
(as of 11/30/24)
| Distribution Yield at NAV | 2.32 |
| 30-Day SEC Yield | 2.85 |
|
Unsubsidized 30-Day SEC Yield
|
2.58 |
Revenue Sector Exposure (%)
distributions and capital gains
| Distribution Date | Distribution NAV | ordinary income | short term capital gains | long term capital gains | total distribution |
|---|---|---|---|---|---|
| 11/27/2024 | 9.91 | $0.0191 | $0.0000 | $0.0000 | $0.0191 |
| 10/28/2024 | 9.89 | $0.0183 | $0.0000 | $0.0000 | $0.0183 |
| 9/26/2024 | 9.95 | $0.0193 | $0.0000 | $0.0000 | $0.0193 |
| 8/27/2024 | 9.92 | $0.0178 | $0.0000 | $0.0000 | $0.0178 |
| 7/26/2024 | 9.84 | $0.0176 | $0.0000 | $0.0000 | $0.0176 |
| 6/26/2024 | 9.79 | $0.0180 | $0.0000 | $0.0000 | $0.0180 |
| 5/29/2024 | 9.74 | $0.0168 | $0.0000 | $0.0000 | $0.0168 |
| 4/26/2024 | 9.75 | $0.0179 | $0.0000 | $0.0000 | $0.0179 |
| 3/26/2024 | 9.79 | $0.0162 | $0.0000 | $0.0000 | $0.0162 |
| 2/27/2024 | 9.80 | $0.0188 | $0.0000 | $0.0000 | $0.0188 |
| 1/29/2024 | 9.77 | $0.0136 | $0.0000 | $0.0000 | $0.0136 |
| 12/27/2023 | 9.81 | $0.0308 | $0.0000 | $0.0000 | $0.0308 |
| 12/15/2023 | 9.82 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Past distributions are not indicative of future distributions.
Insights
Literature
09/30/2024 - PDF (192 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2024 - PDF (171 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 (160 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
09/30/2024 - PDF (413 KB)
This module provides an overview of Wellington Management Company's Fixed Income resources and capabilities
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.
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.
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. • 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. • 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. • Financially material environmental, social and/or governance (ESG) characteristics are one of several factors that may be considered and as a result, the investment process may not work as intended.
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 Funds products.
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