JAAAX vs. ICVT
Compare and contrast key facts about John Hancock Funds Alternative Asset Allocation Fund (JAAAX) and iShares Convertible Bond ETF (ICVT).
JAAAX is managed by John Hancock. It was launched on Jan 1, 2009. ICVT is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. It was launched on Jun 2, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: JAAAX or ICVT.
Key characteristics
| JAAAX | ICVT | |
|---|---|---|
| YTD Return | 6.82% | 13.03% |
| 1Y Return | 9.38% | 24.39% |
| 3Y Return (Ann) | 2.94% | -1.63% |
| 5Y Return (Ann) | 3.99% | 11.67% |
| Sharpe Ratio | 2.60 | 2.96 |
| Sortino Ratio | 3.52 | 4.20 |
| Omega Ratio | 1.58 | 1.55 |
| Calmar Ratio | 4.16 | 0.90 |
| Martin Ratio | 17.68 | 16.09 |
| Ulcer Index | 0.55% | 1.55% |
| Daily Std Dev | 3.72% | 8.42% |
| Max Drawdown | -12.09% | -33.25% |
| Current Drawdown | -0.31% | -9.93% |
Correlation
The correlation between JAAAX and ICVT is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
JAAAX vs. ICVT - Performance Comparison
In the year-to-date period, JAAAX achieves a 6.82% return, which is significantly lower than ICVT's 13.03% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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JAAAX vs. ICVT - Expense Ratio Comparison
JAAAX has a 0.72% expense ratio, which is higher than ICVT's 0.20% expense ratio.
Risk-Adjusted Performance
JAAAX vs. ICVT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Alternative Asset Allocation Fund (JAAAX) and iShares Convertible Bond ETF (ICVT). 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.
Dividends
JAAAX vs. ICVT - Dividend Comparison
JAAAX's dividend yield for the trailing twelve months is around 1.61%, less than ICVT's 2.24% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 1.61% | 1.72% | 3.02% | 1.72% | 0.74% | 3.38% | 1.99% | 1.23% | 0.77% | 2.78% | 2.00% | 1.74% |
ICVT iShares Convertible Bond ETF | 2.24% | 1.84% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% | 0.00% | 0.00% |
Drawdowns
JAAAX vs. ICVT - Drawdown Comparison
The maximum JAAAX drawdown since its inception was -12.09%, smaller than the maximum ICVT drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for JAAAX and ICVT. For additional features, visit the drawdowns tool.
Volatility
JAAAX vs. ICVT - Volatility Comparison
The current volatility for John Hancock Funds Alternative Asset Allocation Fund (JAAAX) is 1.07%, while iShares Convertible Bond ETF (ICVT) has a volatility of 2.44%. This indicates that JAAAX experiences smaller price fluctuations and is considered to be less risky than ICVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.