JAAAX vs. RMDFX
JAAAX (John Hancock Funds Alternative Asset Allocation Fund) and RMDFX (Aspiriant Defensive Allocation Fund) are both Multistrategy funds. Over the past 10 years, JAAAX returned 4.23%/yr vs 5.32%/yr for RMDFX. A 0.76 correlation means they provide meaningful diversification when combined. JAAAX charges 0.72%/yr vs 0.18%/yr for RMDFX.
Performance
JAAAX vs. RMDFX - Performance Comparison
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Returns By Period
In the year-to-date period, JAAAX achieves a 4.99% return, which is significantly lower than RMDFX's 5.64% return. Over the past 10 years, JAAAX has underperformed RMDFX with an annualized return of 4.23%, while RMDFX has yielded a comparatively higher 5.32% annualized return.
JAAAX
- 1D
- -0.23%
- 1M
- -1.08%
- YTD
- 4.99%
- 6M
- 4.58%
- 1Y
- 9.62%
- 3Y*
- 6.99%
- 5Y*
- 4.10%
- 10Y*
- 4.23%
RMDFX
- 1D
- -0.16%
- 1M
- -1.10%
- YTD
- 5.64%
- 6M
- 5.46%
- 1Y
- 17.26%
- 3Y*
- 10.27%
- 5Y*
- 5.25%
- 10Y*
- 5.32%
JAAAX vs. RMDFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 4.99% | 6.18% | 6.59% | 5.85% | -3.12% | 4.77% | 4.36% | 8.95% | -4.09% | 6.10% |
RMDFX Aspiriant Defensive Allocation Fund | 5.64% | 18.85% | 1.45% | 8.01% | -6.84% | 4.20% | 5.10% | 11.50% | -4.89% | 9.41% |
Correlation
The correlation between JAAAX and RMDFX is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.76 |
The correlation between JAAAX and RMDFX has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
JAAAX vs. RMDFX — Risk / Return Rank
JAAAX
RMDFX
JAAAX vs. RMDFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Alternative Asset Allocation Fund (JAAAX) and Aspiriant Defensive Allocation Fund (RMDFX). 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 | RMDFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.77 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 4.72 | 4.16 | +0.55 |
| Martin ratioReturn relative to average drawdown | 17.62 | 15.92 | +1.70 |
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Drawdowns
JAAAX vs. RMDFX - Drawdown Comparison
The maximum JAAAX drawdown since its inception was -15.72%, roughly equal to the maximum RMDFX drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for JAAAX and RMDFX.
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Drawdown Indicators
| JAAAX | RMDFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.72% | -15.96% | +0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -4.19% | +2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -5.66% | -5.79% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -6.28% | -14.63% | +8.35% |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | -15.96% | +3.32% |
Current DrawdownCurrent decline from peak | -1.30% | -1.65% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -2.04% | -3.32% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 1.09% | -0.55% |
Volatility
JAAAX vs. RMDFX - Volatility Comparison
The current volatility for John Hancock Funds Alternative Asset Allocation Fund (JAAAX) is 1.18%, while Aspiriant Defensive Allocation Fund (RMDFX) has a volatility of 1.40%. This indicates that JAAAX experiences smaller price fluctuations and is considered to be less risky than RMDFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAAAX | RMDFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.40% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 4.16% | -1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 4.80% | -1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.22% | 6.35% | -2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 6.22% | -1.85% |
JAAAX vs. RMDFX - Expense Ratio Comparison
JAAAX has a 0.72% expense ratio, which is higher than RMDFX's 0.18% expense ratio.
Dividends
JAAAX vs. RMDFX - Dividend Comparison
JAAAX's dividend yield for the trailing twelve months is around 1.45%, less than RMDFX's 4.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RMDFX Aspiriant Defensive Allocation Fund | 4.39% | 4.63% | 0.00% | 3.69% | 0.78% | 5.37% | 2.28% | 3.78% | 4.11% | 2.16% | 1.16% | 0.00% |
Frequently Asked Questions
JAAAX and RMDFX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RMDFX has higher volatility (1.40%) compared to JAAAX (1.18%). In terms of maximum drawdown, JAAAX dropped -15.72% vs RMDFX's -15.96%.
RMDFX currently has the higher Sharpe Ratio (3.63 vs 2.78), 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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