IWM vs. JAAAX
IWM (iShares Russell 2000 ETF) and JAAAX (John Hancock Funds Alternative Asset Allocation Fund) are both funds - IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while JAAAX is a Multistrategy fund managed by John Hancock. Over the past 10 years, IWM returned 10.78%/yr vs 4.16%/yr for JAAAX. A 0.75 correlation means they provide meaningful diversification when combined. IWM charges 0.19%/yr vs 0.72%/yr for JAAAX.
Performance
IWM vs. JAAAX - Performance Comparison
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Returns By Period
In the year-to-date period, IWM achieves a 15.62% return, which is significantly higher than JAAAX's 5.53% return. Over the past 10 years, IWM has outperformed JAAAX with an annualized return of 10.78%, while JAAAX has yielded a comparatively lower 4.16% annualized return.
IWM
- 1D
- 0.87%
- 1M
- -0.02%
- YTD
- 15.62%
- 6M
- 13.83%
- 1Y
- 35.52%
- 3Y*
- 16.64%
- 5Y*
- 5.48%
- 10Y*
- 10.78%
JAAAX
- 1D
- -0.73%
- 1M
- -0.23%
- YTD
- 5.53%
- 6M
- 6.05%
- 1Y
- 10.39%
- 3Y*
- 7.08%
- 5Y*
- 4.19%
- 10Y*
- 4.16%
IWM vs. JAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 15.62% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 5.53% | 6.18% | 6.59% | 5.85% | -3.12% | 4.77% | 4.36% | 8.95% | -4.09% | 6.10% |
Correlation
The correlation between IWM and JAAAX is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009 | 0.75 |
The correlation between IWM and JAAAX shifts across timeframes, from 0.61 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWM vs. JAAAX — Risk / Return Rank
IWM
JAAAX
IWM vs. JAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) 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.
| IWM | JAAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.62 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 5.24 | -2.00 |
| Martin ratioReturn relative to average drawdown | 11.44 | 20.62 | -9.18 |
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
| IWM | JAAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 3.14 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 1.00 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.95 | -0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.86 | -0.50 |
Drawdowns
IWM vs. JAAAX - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, which is greater than JAAAX's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for IWM and JAAAX.
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Drawdown Indicators
| IWM | JAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -15.72% | -43.33% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -2.02% | -9.01% |
Max Drawdown (3Y)Largest decline over 3 years | -27.50% | -5.66% | -21.84% |
Max Drawdown (5Y)Largest decline over 5 years | -31.91% | -6.28% | -25.63% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -12.64% | -28.49% |
Current DrawdownCurrent decline from peak | -2.71% | -0.79% | -1.92% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -2.04% | -8.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 0.51% | +2.60% |
Volatility
IWM vs. JAAAX - Volatility Comparison
iShares Russell 2000 ETF (IWM) has a higher volatility of 6.52% compared to John Hancock Funds Alternative Asset Allocation Fund (JAAAX) at 1.06%. This indicates that IWM's price experiences larger fluctuations and is considered to be riskier 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
| IWM | JAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 1.06% | +5.46% |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | 2.62% | +11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.53% | 3.37% | +16.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.58% | 4.22% | +18.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.07% | 4.38% | +18.69% |
IWM vs. JAAAX - Expense Ratio Comparison
IWM has a 0.19% expense ratio, which is lower than JAAAX's 0.72% expense ratio.
Dividends
IWM vs. JAAAX - Dividend Comparison
IWM's dividend yield for the trailing twelve months is around 0.89%, less than JAAAX's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 0.89% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 1.45% | 1.53% | 1.17% | 1.71% | 3.02% | 1.72% | 0.74% | 3.38% | 1.99% | 1.23% | 0.77% | 2.78% |
Frequently Asked Questions
IWM and JAAAX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (6.52%) compared to JAAAX (1.06%). In terms of maximum drawdown, IWM dropped -59.05% vs JAAAX's -15.72%.
JAAAX currently has the higher Sharpe Ratio (3.14 vs 1.83), 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.
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