JAKVX vs. BIVIX
JAKVX (John Hancock Disciplined Value Global Long/Short Fund Class R6) and BIVIX (Invenomic Fund Institutional Class) are both Long-Short funds. Both are actively managed. Over the past year, JAKVX returned 19.46% vs -9.35% for BIVIX. At a correlation of -0.16, they often move in opposite directions. JAKVX charges 1.54%/yr vs 3.17%/yr for BIVIX.
Performance
JAKVX vs. BIVIX - Performance Comparison
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Returns By Period
In the year-to-date period, JAKVX achieves a 9.51% return, which is significantly higher than BIVIX's -15.76% return.
JAKVX
- 1D
- 0.28%
- 1M
- -2.60%
- YTD
- 9.51%
- 6M
- 9.51%
- 1Y
- 19.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BIVIX
- 1D
- 2.90%
- 1M
- -1.58%
- YTD
- -15.76%
- 6M
- -13.67%
- 1Y
- -9.35%
- 3Y*
- -5.08%
- 5Y*
- 10.42%
- 10Y*
- —
JAKVX vs. BIVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6 | 9.51% | 17.29% |
BIVIX Invenomic Fund Institutional Class | -15.76% | 6.53% |
Correlation
The correlation between JAKVX and BIVIX is -0.16, 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 | -0.16 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025 | -0.16 |
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Return for Risk
JAKVX vs. BIVIX — Risk / Return Rank
JAKVX
BIVIX
JAKVX vs. BIVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) and Invenomic Fund Institutional Class (BIVIX). 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.
| JAKVX | BIVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.86 | ||
| Sortino ratioReturn per unit of downside risk | +3.85 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 0.96 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | -0.33 | +4.15 |
| Martin ratioReturn relative to average drawdown | 12.35 | -0.97 | +13.32 |
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Drawdowns
JAKVX vs. BIVIX - Drawdown Comparison
The maximum JAKVX drawdown since its inception was -5.16%, smaller than the maximum BIVIX drawdown of -26.95%. Use the drawdown chart below to compare losses from any high point for JAKVX and BIVIX.
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Drawdown Indicators
| JAKVX | BIVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.16% | -26.95% | +21.79% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -26.95% | +21.79% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.95% | — |
Current DrawdownCurrent decline from peak | -3.98% | -21.07% | +17.09% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -5.98% | +5.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 9.23% | -7.64% |
Volatility
JAKVX vs. BIVIX - Volatility Comparison
The current volatility for John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) is 2.83%, while Invenomic Fund Institutional Class (BIVIX) has a volatility of 13.91%. This indicates that JAKVX experiences smaller price fluctuations and is considered to be less risky than BIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAKVX | BIVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 13.91% | -11.08% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 22.70% | -16.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.81% | 26.89% | -19.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 17.40% | -9.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.56% | 17.50% | -9.94% |
JAKVX vs. BIVIX - Expense Ratio Comparison
JAKVX has a 1.54% expense ratio, which is lower than BIVIX's 3.17% expense ratio.
Dividends
JAKVX vs. BIVIX - Dividend Comparison
JAKVX's dividend yield for the trailing twelve months is around 7.74%, more than BIVIX's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BIVIX Invenomic Fund Institutional Class | 2.61% | 2.20% | 3.95% | 20.15% | 27.91% | 16.08% | 3.15% | 3.19% | 4.79% | 1.21% |
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6 | 7.74% | 8.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JAKVX and BIVIX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIVIX has higher volatility (13.91%) compared to JAKVX (2.83%). In terms of maximum drawdown, JAKVX dropped -5.16% vs BIVIX's -26.95%.
JAKVX currently has the higher Sharpe Ratio (2.52 vs -0.34), 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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