JAAAX vs. FLOT
JAAAX (John Hancock Funds Alternative Asset Allocation Fund) and FLOT (iShares Floating Rate Bond ETF) are both funds - JAAAX is a Multistrategy fund managed by John Hancock, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Over the past 10 years, JAAAX returned 4.22%/yr vs 3.04%/yr for FLOT. At a 0.14 correlation, their price movements are largely independent. JAAAX charges 0.72%/yr vs 0.15%/yr for FLOT.
Performance
JAAAX vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, JAAAX achieves a 5.59% return, which is significantly higher than FLOT's 2.03% return. Over the past 10 years, JAAAX has outperformed FLOT with an annualized return of 4.22%, while FLOT has yielded a comparatively lower 3.04% annualized return.
JAAAX
- 1D
- 0.06%
- 1M
- -0.45%
- YTD
- 5.59%
- 6M
- 5.55%
- 1Y
- 10.38%
- 3Y*
- 6.96%
- 5Y*
- 4.41%
- 10Y*
- 4.22%
FLOT
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 2.03%
- 6M
- 2.19%
- 1Y
- 4.78%
- 3Y*
- 5.60%
- 5Y*
- 4.22%
- 10Y*
- 3.04%
JAAAX vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 5.59% | 6.18% | 6.59% | 5.85% | -3.12% | 4.77% | 4.36% | 8.95% | -4.09% | 6.10% |
FLOT iShares Floating Rate Bond ETF | 2.03% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
Correlation
The correlation between JAAAX and FLOT is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | 0.14 |
The correlation between JAAAX and FLOT shifts across timeframes, from 0.14 (all time) to 0.25 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JAAAX vs. FLOT — Risk / Return Rank
JAAAX
FLOT
JAAAX vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Alternative Asset Allocation Fund (JAAAX) and iShares Floating Rate Bond ETF (FLOT). 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.
| JAAAX | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.42 | ||
| Sortino ratioReturn per unit of downside risk | -7.19 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 3.15 | -1.56 |
| Calmar ratioReturn relative to maximum drawdown | 5.06 | 11.13 | -6.07 |
| Martin ratioReturn relative to average drawdown | 19.35 | 103.02 | -83.67 |
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Drawdowns
JAAAX vs. FLOT - Drawdown Comparison
The maximum JAAAX drawdown since its inception was -15.72%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for JAAAX and FLOT.
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Drawdown Indicators
| JAAAX | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.72% | -13.54% | -2.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -0.43% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -5.66% | -1.57% | -4.09% |
Max Drawdown (5Y)Largest decline over 5 years | -6.28% | -2.36% | -3.92% |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | -13.54% | +0.90% |
Current DrawdownCurrent decline from peak | -0.73% | 0.00% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -2.04% | -0.21% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.05% | +0.48% |
Volatility
JAAAX vs. FLOT - Volatility Comparison
John Hancock Funds Alternative Asset Allocation Fund (JAAAX) has a higher volatility of 1.10% compared to iShares Floating Rate Bond ETF (FLOT) at 0.21%. This indicates that JAAAX's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAAAX | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.21% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 0.63% | +2.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 0.75% | +2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.22% | 1.78% | +2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.38% | 4.15% | +0.23% |
JAAAX vs. FLOT - Expense Ratio Comparison
JAAAX has a 0.72% expense ratio, which is higher than FLOT's 0.15% expense ratio.
Dividends
JAAAX vs. FLOT - Dividend Comparison
JAAAX's dividend yield for the trailing twelve months is around 1.45%, less than FLOT's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.53% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
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
JAAAX and FLOT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JAAAX has higher volatility (1.10%) compared to FLOT (0.21%). In terms of maximum drawdown, JAAAX dropped -15.72% vs FLOT's -13.54%.
FLOT currently has the higher Sharpe Ratio (6.42 vs 3.00), 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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