JAKRX vs. MMNIX
JAKRX (John Hancock Disciplined Value Global Long/Short Fund Class A) and MMNIX (Miller Market Neutral Income Fund Class I) are both mutual funds - JAKRX is a Long-Short fund actively managed by John Hancock, while MMNIX is a Equity Market Neutral fund actively managed by Miller. Both are actively managed. Over the past year, JAKRX returned 26.01% vs 9.43% for MMNIX. At a correlation of -0.13, they often move in opposite directions. JAKRX charges 1.91%/yr vs 1.69%/yr for MMNIX.
Performance
JAKRX vs. MMNIX - Performance Comparison
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Returns By Period
In the year-to-date period, JAKRX achieves a 12.80% return, which is significantly higher than MMNIX's 3.47% return.
JAKRX
- 1D
- -0.44%
- 1M
- 1.00%
- YTD
- 12.80%
- 6M
- 13.69%
- 1Y
- 26.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MMNIX
- 1D
- 0.00%
- 1M
- 0.71%
- YTD
- 3.47%
- 6M
- 4.24%
- 1Y
- 9.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JAKRX vs. MMNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JAKRX John Hancock Disciplined Value Global Long/Short Fund Class A | 12.80% | 17.04% |
MMNIX Miller Market Neutral Income Fund Class I | 3.47% | 6.55% |
Correlation
The correlation between JAKRX and MMNIX is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025 | -0.13 |
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Return for Risk
JAKRX vs. MMNIX — Risk / Return Rank
JAKRX
MMNIX
JAKRX vs. MMNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Disciplined Value Global Long/Short Fund Class A (JAKRX) and Miller Market Neutral Income Fund Class I (MMNIX). 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.
| JAKRX | MMNIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -6.48 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 2.87 | -1.15 |
| Calmar ratioReturn relative to maximum drawdown | 5.14 | 21.05 | -15.91 |
| Martin ratioReturn relative to average drawdown | 18.09 | 90.10 | -72.01 |
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
| JAKRX | MMNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.58 | 6.22 | -2.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.97 | 5.53 | -1.56 |
Drawdowns
JAKRX vs. MMNIX - Drawdown Comparison
The maximum JAKRX drawdown since its inception was -5.16%, which is greater than MMNIX's maximum drawdown of -0.49%. Use the drawdown chart below to compare losses from any high point for JAKRX and MMNIX.
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Drawdown Indicators
| JAKRX | MMNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.16% | -0.49% | -4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -0.46% | -4.70% |
Current DrawdownCurrent decline from peak | -0.66% | -0.09% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -0.06% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.11% | +1.35% |
Volatility
JAKRX vs. MMNIX - Volatility Comparison
John Hancock Disciplined Value Global Long/Short Fund Class A (JAKRX) has a higher volatility of 2.41% compared to Miller Market Neutral Income Fund Class I (MMNIX) at 0.42%. This indicates that JAKRX's price experiences larger fluctuations and is considered to be riskier than MMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAKRX | MMNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 0.42% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 5.86% | 1.12% | +4.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.43% | 1.56% | +5.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.29% | 1.74% | +5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.29% | 1.74% | +5.55% |
JAKRX vs. MMNIX - Expense Ratio Comparison
JAKRX has a 1.91% expense ratio, which is higher than MMNIX's 1.69% expense ratio.
Dividends
JAKRX vs. MMNIX - Dividend Comparison
JAKRX's dividend yield for the trailing twelve months is around 7.18%, more than MMNIX's 4.75% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
JAKRX John Hancock Disciplined Value Global Long/Short Fund Class A | 7.18% | 8.10% | 0.00% |
MMNIX Miller Market Neutral Income Fund Class I | 4.75% | 5.03% | 4.74% |
Frequently Asked Questions
JAKRX and MMNIX have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JAKRX has higher volatility (2.41%) compared to MMNIX (0.42%). In terms of maximum drawdown, JAKRX dropped -5.16% vs MMNIX's -0.49%.
MMNIX currently has the higher Sharpe Ratio (6.22 vs 3.58), 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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