.17's

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The HMR is a 22 Mag necked dow to .17; the HM2 is a 22LR necked down to .17.
 
17HMR is 22mag cased necked down.

HM2 is based on the .22 stinger case necked down.
 
just to nitpick, the 17mach 2 is based on the 22stinger case, made by cci. the 17Aguila/pmc is based on the 22lr case, and can be fired through a 17mach 2 rifle, just fine, but may or may not be as accurate.
the mach 2 is about 2100 fps from the muzzle, maybe a tad faster. the hmr is about 2600 fps from the muzzle, also maybe a bit faster. the Aguila round is about 1900 fps from the muzzle, but does it with a 20 grain solid fmjbt bullet.
Also the hmr rounds cost about 3 times as much as the mach 2 , or Aguila rounds.
Fieldwise, the 17hmr has about a 60 yard max gain over the mach 2, legitimate 200 yd shots can be taken with the 17hmr, with only a 7 inch drop , from a 100 yds zero. the mach 2 can make a fine 150 yd shot, with about a 12 inch drop at 200 yds.
 
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