JAAAX vs. SPBO
Compare and contrast key facts about John Hancock Funds Alternative Asset Allocation Fund (JAAAX) and SPDR Portfolio Corporate Bond ETF (SPBO).
JAAAX is managed by John Hancock. It was launched on Jan 1, 2009. SPBO is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. Corporate Bond Index. It was launched on Apr 6, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: JAAAX or SPBO.
Key characteristics
| JAAAX | SPBO | |
|---|---|---|
| YTD Return | 6.82% | 3.92% |
| 1Y Return | 9.38% | 11.85% |
| 3Y Return (Ann) | 2.94% | -1.63% |
| 5Y Return (Ann) | 3.99% | 1.04% |
| 10Y Return (Ann) | 2.92% | 2.55% |
| Sharpe Ratio | 2.60 | 1.99 |
| Sortino Ratio | 3.52 | 2.99 |
| Omega Ratio | 1.58 | 1.36 |
| Calmar Ratio | 4.16 | 0.76 |
| Martin Ratio | 17.68 | 8.33 |
| Ulcer Index | 0.55% | 1.49% |
| Daily Std Dev | 3.72% | 6.23% |
| Max Drawdown | -12.09% | -22.04% |
| Current Drawdown | -0.31% | -6.34% |
Correlation
The correlation between JAAAX and SPBO is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
JAAAX vs. SPBO - Performance Comparison
In the year-to-date period, JAAAX achieves a 6.82% return, which is significantly higher than SPBO's 3.92% return. Over the past 10 years, JAAAX has outperformed SPBO with an annualized return of 2.92%, while SPBO has yielded a comparatively lower 2.55% annualized 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. SPBO - Expense Ratio Comparison
JAAAX has a 0.72% expense ratio, which is higher than SPBO's 0.03% expense ratio.
Risk-Adjusted Performance
JAAAX vs. SPBO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Alternative Asset Allocation Fund (JAAAX) and SPDR Portfolio Corporate Bond ETF (SPBO). 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. SPBO - Dividend Comparison
JAAAX's dividend yield for the trailing twelve months is around 1.61%, less than SPBO's 5.16% 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% |
SPBO SPDR Portfolio Corporate Bond ETF | 5.16% | 4.73% | 3.54% | 2.65% | 2.84% | 3.46% | 3.60% | 3.15% | 3.09% | 3.07% | 3.21% | 3.76% |
Drawdowns
JAAAX vs. SPBO - Drawdown Comparison
The maximum JAAAX drawdown since its inception was -12.09%, smaller than the maximum SPBO drawdown of -22.04%. Use the drawdown chart below to compare losses from any high point for JAAAX and SPBO. For additional features, visit the drawdowns tool.
Volatility
JAAAX vs. SPBO - Volatility Comparison
The current volatility for John Hancock Funds Alternative Asset Allocation Fund (JAAAX) is 1.07%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 1.98%. This indicates that JAAAX experiences smaller price fluctuations and is considered to be less risky than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.