A hydraulic tool includes a stator and a rotor rotatably disposed within the stator. At least one of at least an inner portion of the stator and at least an outer portion of the rotor includes an insert comprising a hard material. A method of forming a hydraulic tool includes attaching at least one insert comprising a hard material to a surface of a stator or a surface of a rotor. A downhole motor or pump includes a stator and a rotor. The stator includes at least one insert comprising a hard material disposed over at least a portion of an interior surface thereof and a matrix material at least partially surrounding the at least one insert. The rotor includes at least one insert disposed over at least a portion of an exterior surface thereof and a matrix material at least partially surrounding the at least one insert.