ADX vs. BTO

Last updated Jun 13, 2026

ADX (Adams Diversified Equity Fund, Inc.) and BTO (John Hancock Financial Opportunities Fund) are both mutual funds - ADX is a Large Cap Blend Equities fund actively managed by Adams Funds, while BTO is a Financials Equities fund actively managed by John Hancock. Both are actively managed. Over the past 10 years, ADX returned 18.15%/yr vs 11.66%/yr for BTO. A 0.54 correlation means they provide meaningful diversification when combined. ADX charges 0.59%/yr vs 2.01%/yr for BTO.

Performance

ADX vs. BTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adams Diversified Equity Fund, Inc. (ADX) and John Hancock Financial Opportunities Fund (BTO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADX achieves a 10.79% return, which is significantly lower than BTO's 12.01% return. Over the past 10 years, ADX has outperformed BTO with an annualized return of 18.15%, while BTO has yielded a comparatively lower 11.66% annualized return.

ADX

• 1D: 0.32%
• 1M: -0.96%
• YTD: 10.79%
• 6M: 14.67%
• 1Y: 29.90%
• 3Y*: 27.45%
• 5Y*: 16.57%
• 10Y*: 18.15%

BTO

• 1D: 1.23%
• 1M: 8.75%
• YTD: 12.01%
• 6M: 9.79%
• 1Y: 21.11%
• 3Y*: 20.48%
• 5Y*: 6.87%
• 10Y*: 11.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADX vs. BTO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADX Adams Diversified Equity Fund, Inc.	10.79%	26.03%	28.31%	31.49%	-19.82%	29.69%	17.28%	36.75%	-3.58%	29.61%
BTO John Hancock Financial Opportunities Fund	12.01%	5.85%	28.92%	-1.16%	-23.58%	61.86%	-8.97%	38.87%	-25.68%	13.12%

Correlation

The correlation between ADX and BTO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Aug 17, 1994	0.54

Over the past year, the correlation between ADX and BTO has dropped to 0.30 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

ADX vs. BTO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADX

ADX Risk / Return Rank: 77
ADX Sharpe Ratio Rank: 76
ADX Sortino Ratio Rank: 76
ADX Omega Ratio Rank: 68
ADX Calmar Ratio Rank: 77
ADX Martin Ratio Rank: 90

BTO

BTO Risk / Return Rank: 16
BTO Sharpe Ratio Rank: 16
BTO Sortino Ratio Rank: 16
BTO Omega Ratio Rank: 17
BTO Calmar Ratio Rank: 18
BTO Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADX vs. BTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adams Diversified Equity Fund, Inc. (ADX) and John Hancock Financial Opportunities Fund (BTO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ADX	BTO	Difference
Sharpe ratio: Return per unit of total volatility	2.07	0.91	+1.16
Sortino ratio: Return per unit of downside risk	2.94	1.37	+1.57
Omega ratio: Gain probability vs. loss probability	1.36	1.17	+0.18
Calmar ratio: Return relative to maximum drawdown	2.88	1.23	+1.64
Martin ratio: Return relative to average drawdown	14.72	3.05	+11.66

ADX vs. BTO - Sharpe Ratio Comparison

The current ADX Sharpe Ratio is 2.07, which is higher than the BTO Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of ADX and BTO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ADX vs. BTO - Drawdown Comparison

The maximum ADX drawdown since its inception was -71.60%, roughly equal to the maximum BTO drawdown of -72.27%. Use the drawdown chart below to compare losses from any high point for ADX and BTO.

Drawdown Indicators

	ADX	BTO	Difference
Max Drawdown Largest peak-to-trough decline	-71.60%	-72.27%	+0.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-15.26%	+5.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.29%	-25.19%	+6.90%
Max Drawdown (5Y) Largest decline over 5 years	-25.07%	-51.80%	+26.73%
Max Drawdown (10Y) Largest decline over 10 years	-37.17%	-65.70%	+28.53%
Current Drawdown Current decline from peak	-3.08%	-1.10%	-1.98%
Average Drawdown Average peak-to-trough decline	-22.12%	-18.99%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	6.16%	-4.18%

Volatility

ADX vs. BTO - Volatility Comparison

The current volatility for Adams Diversified Equity Fund, Inc. (ADX) is 4.43%, while John Hancock Financial Opportunities Fund (BTO) has a volatility of 5.35%. This indicates that ADX experiences smaller price fluctuations and is considered to be less risky than BTO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADX	BTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	5.35%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	14.89%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	20.71%	-6.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	31.21%	-13.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	36.12%	-18.08%

ADX vs. BTO - Expense Ratio Comparison

ADX has a 0.59% expense ratio, which is lower than BTO's 2.01% expense ratio.

Dividends

ADX vs. BTO - Dividend Comparison

ADX's dividend yield for the trailing twelve months is around 7.53%, more than BTO's 6.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADX Adams Diversified Equity Fund, Inc.	7.53%	7.93%	12.38%	7.34%	7.36%	15.35%	6.54%	9.00%	15.85%	9.18%	7.79%	7.17%
BTO John Hancock Financial Opportunities Fund	6.86%	7.41%	7.28%	8.64%	7.51%	4.72%	7.25%	6.06%	5.94%	3.76%	5.10%	4.75%

Frequently Asked Questions

Can I hold both ADX and BTO in my portfolio?

ADX and BTO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADX or BTO?

BTO has higher volatility (5.35%) compared to ADX (4.43%). In terms of maximum drawdown, ADX dropped -71.60% vs BTO's -72.27%.

Which has better risk-adjusted returns?

ADX currently has the higher Sharpe Ratio (2.07 vs 0.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.