ARBIX vs. JAAAX
Compare and contrast key facts about Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) and John Hancock Funds Alternative Asset Allocation Fund (JAAAX).
ARBIX is an actively managed fund by Absolute Investment Advisers. It was launched on Aug 14, 2017. JAAAX is managed by John Hancock. It was launched on Jan 1, 2009.
Performance
ARBIX vs. JAAAX - Performance Comparison
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ARBIX vs. JAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares | 1.65% | 8.29% | 7.53% | 5.30% | -0.53% | 2.95% | 9.28% | 6.38% | 2.07% | 8,411.75% |
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 2.52% | 6.18% | 6.59% | 5.85% | -3.12% | 4.77% | 4.36% | 8.95% | -4.09% | 1.23% |
Returns By Period
In the year-to-date period, ARBIX achieves a 1.65% return, which is significantly lower than JAAAX's 2.52% return.
ARBIX
- 1D
- 0.26%
- 1M
- -0.26%
- YTD
- 1.65%
- 6M
- 3.28%
- 1Y
- 7.86%
- 3Y*
- 7.16%
- 5Y*
- 4.72%
- 10Y*
- —
JAAAX
- 1D
- 0.41%
- 1M
- -1.56%
- YTD
- 2.52%
- 6M
- 3.59%
- 1Y
- 8.05%
- 3Y*
- 6.41%
- 5Y*
- 4.12%
- 10Y*
- 4.05%
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ARBIX vs. JAAAX - Expense Ratio Comparison
ARBIX has a 1.47% expense ratio, which is higher than JAAAX's 0.72% expense ratio.
Return for Risk
ARBIX vs. JAAAX — Risk / Return Rank
ARBIX
JAAAX
ARBIX vs. JAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) and John Hancock Funds Alternative Asset Allocation Fund (JAAAX). 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.
| ARBIX | JAAAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 6.20 | 1.75 | +4.44 |
Sortino ratioReturn per unit of downside risk | 11.37 | 2.35 | +9.01 |
Omega ratioGain probability vs. loss probability | 3.06 | 1.39 | +1.67 |
Calmar ratioReturn relative to maximum drawdown | 15.19 | 1.88 | +13.31 |
Martin ratioReturn relative to average drawdown | 70.66 | 9.41 | +61.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ARBIX | JAAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.20 | 1.75 | +4.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.59 | 0.98 | +1.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.93 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.84 | -0.74 |
Correlation
The correlation between ARBIX and JAAAX is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ARBIX vs. JAAAX - Dividend Comparison
ARBIX's dividend yield for the trailing twelve months is around 5.25%, more than JAAAX's 1.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares | 5.25% | 5.34% | 4.87% | 3.62% | 3.33% | 3.12% | 2.92% | 2.83% | 1.97% | 0.24% | 0.00% | 0.00% |
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 1.49% | 1.53% | 1.17% | 1.71% | 3.02% | 1.72% | 0.74% | 3.38% | 1.99% | 1.23% | 0.77% | 2.78% |
Drawdowns
ARBIX vs. JAAAX - Drawdown Comparison
The maximum ARBIX drawdown since its inception was -4.31%, smaller than the maximum JAAAX drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for ARBIX and JAAAX.
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Drawdown Indicators
| ARBIX | JAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.31% | -15.72% | +11.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.51% | -4.43% | +3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -4.02% | -6.28% | +2.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.64% | — |
Current DrawdownCurrent decline from peak | -0.26% | -1.61% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -0.40% | -2.06% | +1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.88% | -0.77% |
Volatility
ARBIX vs. JAAAX - Volatility Comparison
The current volatility for Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) is 0.47%, while John Hancock Funds Alternative Asset Allocation Fund (JAAAX) has a volatility of 1.16%. This indicates that ARBIX experiences smaller price fluctuations and is considered to be less risky than JAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARBIX | JAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 1.16% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 0.90% | 2.74% | -1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 4.73% | -3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.83% | 4.22% | -2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 745.92% | 4.38% | +741.54% |