HEFT vs. JAKVX

Last updated Jun 4, 2026

HEFT (Hedgeye Fourth Turning ETF) and JAKVX (John Hancock Disciplined Value Global Long/Short Fund Class R6) are both Long-Short funds. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. HEFT charges 0.70%/yr vs 1.54%/yr for JAKVX.

Performance

HEFT vs. JAKVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Fourth Turning ETF (HEFT) and John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEFT achieves a 7.91% return, which is significantly lower than JAKVX's 13.49% return.

HEFT

• 1D: -0.02%
• 1M: 4.12%
• YTD: 7.91%
• 6M: 7.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JAKVX

• 1D: 0.11%
• 1M: 1.84%
• YTD: 13.49%
• 6M: 14.31%
• 1Y: 27.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HEFT vs. JAKVX - Yearly Performance Comparison

	2026 (YTD)	2025
HEFT Hedgeye Fourth Turning ETF	7.91%	0.98%
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	13.49%	2.74%

Correlation

The correlation between HEFT and JAKVX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025	0.51

Return for Risk

HEFT vs. JAKVX — Risk / Return Rank

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

JAKVX

JAKVX Risk / Return Rank: 94
JAKVX Sharpe Ratio Rank: 97
JAKVX Sortino Ratio Rank: 96
JAKVX Omega Ratio Rank: 94
JAKVX Calmar Ratio Rank: 93
JAKVX Martin Ratio Rank: 91

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.

HEFT vs. JAKVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Fourth Turning ETF (HEFT) and John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HEFT	JAKVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	4.10	-2.66

Drawdowns

HEFT vs. JAKVX - Drawdown Comparison

The maximum HEFT drawdown since its inception was -9.17%, which is greater than JAKVX's maximum drawdown of -5.16%. Use the drawdown chart below to compare losses from any high point for HEFT and JAKVX.

Drawdown Indicators

	HEFT	JAKVX	Difference
Max Drawdown Largest peak-to-trough decline	-9.17%	-5.16%	-4.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.16%	—
Current Drawdown Current decline from peak	-2.64%	-0.22%	-2.42%
Average Drawdown Average peak-to-trough decline	-3.13%	-0.80%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.47%	—

Volatility

Volatility by Period

	HEFT	JAKVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.53%	7.49%	+5.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.53%	7.32%	+5.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.53%	7.32%	+5.21%

HEFT vs. JAKVX - Expense Ratio Comparison

HEFT has a 0.70% expense ratio, which is lower than JAKVX's 1.54% expense ratio.

Dividends

HEFT vs. JAKVX - Dividend Comparison

HEFT's dividend yield for the trailing twelve months is around 0.02%, less than JAKVX's 7.47% yield.

Position	TTM	2025
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	7.47%	8.47%

Frequently Asked Questions

Can I hold both HEFT and JAKVX in my portfolio?

HEFT and JAKVX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.