Hartford Funds has announced that it is closing two actively managed fixed income funds that invest in bonds from US issuers.

The ETFs will see their last day of trading on 14 September 2018.

The Hartford Corporate Bond ETF (HCOR US) offers corporate bond exposure through a bottom-up strategy of predominantly investment grade corporate bonds and seeks to provide total return, with income as a secondary objective.

The Hartford Quality Bond ETF (HQBD US) seeks to maximize total return while providing a high level of current income. The fund is a conservative core bond fund with an emphasis on investment grade debt, including Treasuries and mortgage-backed securities.

The funds, which both listed on NYSE Arca in May 2017, will see their last day of trading on 14 September 2018. As of this date, the funds may increase their cash holdings and hold securities that may not be consistent with their investment objectives. The liquidation date for the funds is scheduled for 21 September 2018.

With assets under management in the $15m to $20m range, it appears as though the ETFs were not considered commercially viable.

HCOR and HQBD have expense ratios of 0.44% and 0.39% respectively. While not overly pricey funds, investors can obtain similar exposures at significantly reduced costs through passive ETFs. The $1.5 bn iShares Broad USD Investment Grade Corporate Bond ETF (USIG US), for example, which tracks the ICE BofAML US Corporate Index, costs just 0.06%.